According to the report, the global hydroxyapatite industry was estimated at $2.46 billion in 2019, and is anticipated to hit $3.65 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
Drivers, restraints, and opportunities-
Increase in demand for bone transplants and bone grafting, rise in disposable income, and advancements in R&D fuel the growth of the global hydroxyapatite market. On the other hand, high cost of implants restrains the growth to some extent. However, innovations in product development are expected to create multiple opportunities in the industry.
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The COVID-19 outbreak has significantly impacted the global hydroxyapatite market. Dental practices all over the world are only seeing emergency patients, which has resulted in unprecedented revenue declines across the sector.
Moreover, disruptions in the supply chain have resulted into downswing in the manufacturing of orthopedic implants and dental care products.
The micro-sized segment to dominate by 2027-
Based on type, the micro-sized segment contributed to more than half of the global hydroxyapatite market share in 2019, and is expected to lead the trail by the end of 2027, owing to the mounting demand for prosthetic surgeries and dental surgeries. The nano-sized segment, on the other hand, would register the fastest CAGR of 5.5% till 2027. This is due to the presence of its unique properties, such as the ability to chemically bond with bones and form no toxicity or inflammation after implants.
The orthopedic segment to maintain the dominant share-
Based on application, the orthopedic segment accounted for around two-fifths of the global hydroxyapatite market revenue in 2019, and is expected to retain its dominance by 2027. This is attributed to the increasing demand for hydroxyapatite in medical device coating for knee and hip surgeries. Simultaneously, the plastic surgery segment would grow at the fastest CAGR of 5.6% throughout the forecast period, owing to increasing demand for hydroxyapatite in facial plastic surgeries.
North America garnered the major share in 2019 –
Based on geography, North America generated the major share in 2019, holding around two-fifths of the global hydroxyapatite market. This is attributed to rise in demand for hydroxyapatite in ocular implants, non-integrated implants, and dental surgeries in countries such as the U.S. and Canada. At the same time, the Asia-Pacific region is projected to manifest the fastest CAGR of 5.5% during the study period. This is due to increase in disposable income of people in emerging countries, such as China and India, and new investments across Japan and China in advanced coating and material manufacturing.
Key players in the industry-
- Berkeley Advanced Biomaterials
- Granulab (M) Sdn Bhd.
- Cam Bioceramics
- Zimmer Biomet
- Aps Materials
- Cg Bio Inc
- Taihei Chemical Industrial Co. Ltd.
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