Hydroxyapatite Market Estimated To Witness High Growth Owing To Rising Demand In Orthopedic Applications
Hydroxyapatite is a naturally occurring mineral form of calcium apatite, with the chemical formula Ca5(PO4)3OH. It is the main inorganic component of human bone and teeth. Hydroxyapatite is predominantly used as synthetic bone substitutes and orthopedic coating due to its osteoconductive and osteoinductive properties. It promotes new bone formation when used as bone graft extenders or bone void fillers. It is also used as dental material and coating for orthopedic and dental implants.
The global hydroxyapatite market is estimated to be valued at US$ 2761.23 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising demand in orthopedic applications is the primary driver fueling growth of the hydroxyapatite market. Hydroxyapatite stimulates new bone formation and helps in faster healing of fractures. It is extensively used as synthetic bone substitute in traumatic fractures, reconstructive orthopedic surgeries and spinal fusion surgeries. According to a study by BioMed Central, around 20% to 30% of fractures are associated with severe trauma and often require bone grafting for repair and reconstruction. Increasing incidence of osteoporotic fractures and orthopedic injuries globally is expected to boost adoption of hydroxyapatite as bone graft substitute during the forecast period.
SWOT Analysis
Strength: Hydroxyapatite has good biocompatibility and osteoconductivity properties. It can bond directly to bone and promote new bone formation. Its chemical composition is similar to the main inorganic component of bone. This allows for better integration of implants with existing bone tissue. Hydroxyapatite coatings provide better fixation of implants by stimulating faster and stronger bone growth around implants.
Weakness: The manufacturing process of pure hydroxyapatite is complex and costly. Small contaminations can significantly impact the material properties. Long-term stability within the body can sometimes be inadequate as hydroxyapatite coatings are susceptible to delamination over time.
Opportunity: The rising geriatric population globally is increasing the demand for medical implants. As elderly individuals are more prone to bone fractures and joint replacements. The bioactive properties of hydroxyapatite make it a suitable coating for various orthopedic and dental implants. New application opportunities exist in tissue regeneration therapies anddrug delivery matrices.
Threats: Stringent regulatory processes and timelines for approving new medical devices increase risks for manufacturers. Substitute bioactive glass materials are gaining popularity due to their superior mechanical integrity and bonding capacities.
Key Takeaways
The global hydroxyapatite market growth is expected to witness strong growth over the forecast period driven by the rising prevalence of orthopedic disorders and the growing demand for dental implants. The global hydroxyapatite market is estimated to be valued at US$ 2761.23 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
North America currently dominates the market owing to rapid adoption of advanced medical technologies in the region. The U.S. and Canada have presence of major market players and greater access to healthcare. Asia Pacific is expected to be the fastest growing market for hydroxyapatite driven by factors such as the rising healthcare investments, growing medical tourism industry and increasing expenditure on dental care in countries like India, China and Japan. The growing middle class population and local manufacturing of implants will further support the market growth in Asia Pacific.
Key players:
Key players operating in the hydroxyapatite market are West Pharmaceutical Services Inc., Berry Global Inc., Sartorius AG, Corning Inc., Gerresheimer AG, SCHOTT AG, Stevanato Group, AptarGroup Inc., SGD Pharma, Ompi - Stevanato Group, DWK Life Sciences, Nipro Corporation, Nolato AB, Terumo Corporation, Qosina Corp. These companies are focused on developing advanced coating technologies using hydroxyapatite to improve the biocompatibility of various medical implants and drug delivery devices. Partnerships with medical device manufacturers is a key strategy being adopted.
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