Product Code: 70508
The hydroxyapatite market is projected to register a CAGR of over 4% during the forecast period (2021-2026).
Due to the outstanding properties such as biocompatibility, bioactivity, osteoconductivity, non-toxicity, and non-inflammatory nature, hydroxyapatite has wide applications in orthopedic, dental care, plastic surgery, and others. Due to COVID 19, routine dental services were forced to close all over the world, and those that remained open were advised to limit treatment to urgent or emergency care only. Many orthopedic and dental surgeries were canceled and postponed due to the safety concerns raised by the pandemic. This suspension of routine care (dental, orthopedics, and plastic surgery) to save lives lead to the closure of many practices due to substantial financial impact. Owing to all these factors, COVID-19 has negatively impacted the hydroxyapatite market.
- The major factor driving the growth of the hydroxyapatite market is the rising interest as a biomaterial for use in prosthetic applications.
- On the flip side, unfavorable conditions arising due to the sudden outbreak of COVID-19 are anticipated to impact the growth of the market studied.
- North America is expected to be the largest market for hydroxyapatite and its products globally during the forecast period.
Key Market Trends
Orthopedic Segment to Dominate the Hydroxyapatite Market
- Hydroxyapatite (HAp) is a fundamental calcium phosphate existing as the primary material of bones, teeth, and minerals, normally with high bi-affinity. Its composition promotes osseointegration between bone and orthopedic implants, allowing for the ultimate structural and functional connection. Because of its versatility, hydroxyapatite is becoming increasingly popular as an implant coating.
- Because of the similar nature between nano-hydroxyapatite and mineralized bone, HAp powders have a high affinity to hard tissues, and they bond chemically with the host tissue bringing about improved biological performance. These items are utilized to produce bone graft substitutes, such as porous granules and block scaffolds for bone recovery.
- With the improvement of nanotechnology, a significant effect on materials science has been taken note of. The use of nano-hydroxyapatite (nano-HAp) is on rising as a biomaterial in orthopedic applications because of its similarity in size, crystallography, and chemical composition with human hard tissue. Bones, to a great extent, are made of this type of mineral.
- As of 2019, the entire knee orthopedic device market was evaluated to be worth around USD 45.5 billion, with spine and knee orthopedic gadgets representing the major share in the orthopedics business.
- The high consumption area for hydroxyapatite is in the application of orthopedics. With the improvement of nanotechnology, the usage of nanomaterials has increased impressively for medical benefits, especially biomaterials, and hence the market is expected to propel in the coming years.
- With the growing aged population and health issues in several countries across the world, the demand for orthopedic is expected to increase during the forecast period, thus, increasing the demand for hydroxyapatite.
- According to Population Reference Bureau (PRB), Asia and Europe are home to some of the world's oldest populations. At the top is Japan at 28%, followed by Italy at 23%. Finland, Portugal, and Greece round out the top five at just under 22%. Twelve percentage of China's population ages 65 years or above. That share is 16 percent in the United States, 6 percent in India, and 3 percent in Nigeria. Also, the United Nations projects that there will be 366 million older Chinese adults by 2050, which is substantially more significant than the United States population in 2020.
- All the aforementioned factors are expected to drive the demand for hydroxyapatite from the orthopedic application during the forecast period.
North America Region to Dominate the Market Studied
- The North American region holds a prominent share in the hydroxyapatite market globally and is expected to dominate the market during the forecast timeline due to high investment and better healthcare infrastructure.
- In 2019, the United States alone was projected to have a health care budget amounting to USD 3.8 trillion, which was by far the highest in the world.
- Income from the dental or oral care segment in the United States was expected to be USD 9.15 billion in 2020. It is anticipated to grow by around 3% annually.
- With the increasing aged population and health issues, the demand for health care in the region is increasing. According to the United Nations Population Division, around 16% of the population in the United States was aged 65 years and above in 2020.
- Thus, the rising demand from various segments is expected to drive the market studied in the region during the forecast timeframe.
The market for hydroxyapatite is partially fragmented. Some of the players in the market include APS Materials Inc., CAMBioceramics BV, FLUIDINOVA, SigmaGraft Inc., and Zimmer Biomet.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rising Interest in Prosthetic Applications
- 4.1.2 Increasing Demand from the Orthopedic Segment
- 4.2 Restraints
- 4.2.1 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Nano-sized
- 5.1.2 Micro-sized
- 5.1.3 Greater than Micrometers
- 5.2 Application
- 5.2.1 Dental Care
- 5.2.2 Plastic Surgery
- 5.2.3 Orthopedic
- 5.2.4 Other Applications
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 India
- 18.104.22.168 Japan
- 22.214.171.124 South Korea
- 126.96.36.199 Rest of Asia-Pacific
- 5.3.2 North America
- 188.8.131.52 United States
- 184.108.40.206 Canada
- 220.127.116.11 Mexico
- 5.3.3 Europe
- 18.104.22.168 Germany
- 22.214.171.124 United Kingdom
- 126.96.36.199 France
- 188.8.131.52 Italy
- 184.108.40.206 Rest of Europe
- 5.3.4 South America
- 220.127.116.11 Brazil
- 18.104.22.168 Argentina
- 22.214.171.124 Rest of South America
- 5.3.5 Middle-East and Africa
- 126.96.36.199 Saudi Arabia
- 188.8.131.52 South Africa
- 184.108.40.206 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 APS Materials Inc.
- 6.4.2 Berkeley Advanced Biomaterials
- 6.4.3 CAM Bioceramics BV
- 6.4.4 FLUIDINOVA
- 6.4.5 Granulab
- 6.4.6 HOYA Technosurgical Corporation
- 6.4.7 SigmaGraft Inc.
- 6.4.8 SofSera Corporation
- 6.4.9 Taihei Chemical Industrial Co. Ltd
- 6.4.10 Zimmer Biomet
7 MARKET OPPORTUNITIES AND FUTURE TRENDS