Hydroxyapatite Market Surges amid Increased Application in Designing Bone Implants, Future Market Insights

DUBAI, U.A.E, Aug. 12, 2020 /PRNewswire/ -- According to Future Market Insights, the global hydroxyapatite market is poised to expand positively throughout the 2020-2030 forecast period.

Hydroxyapatite, another name for calcium phosphate, is extensively used to manufacture bone and tissue implants, given its ability to aid tissue and bone growth by supplementing calcium to the joints. As the percentage of geriatric population increases, bone disorders have also climbed up. This has led to an uptick in the number of orthopedic surgeries.

Problems such as osteoarthritis, dental caries and other joint problems are commonplace amongst people aged above 65. This increasing prevalence is providing a major impetus to hydroxyapatite manufacturers. Hydroxyapatite is typically used as a coating over the conventional steel and titanium implants. As 3D-printing become highly incorporated in producing human limbs, hydroxyapatite usage will surge.

"Expanding geriatric population pool across emerging economies is generating massive growth opportunities for hydroxyapatite manufacturers, prompting them to consolidate their footing in the markets," remarks the FMI analyst.

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Key Takeaways from FMI's Hydroxyapatite Market Study

• Medical grade hydroxyapatite usage to be dominant, attributed to increased usage in designing bone implants
• Dental & Orthopedic surgeries to remain core application areas for hydroxyapatite
• High durability compared to other calcium phosphate grades is making hydroxyapatite highly popular
• Global hydroxyapatite market shall surge at a CAGR of ~9% from 2020-2030
• Asia shall be the major revenue ecosystem for prominent manufacturers

Hydroxyapatite Market- Key Trends

• Efforts to explore diverse applications is augmenting hydroxyapatite for research-grade purposes
• Establishment of strong regional distributional networks and supply chains is boding well for prominent manufacturers
• Cost-effectiveness of hydroxyapatite implants is leading to it emerging as a substitute to traditional titanium implants

Hydroxyapatite Market- Region-wise Analysis

• China & South East Asia shall be the frontrunners of the global hydroxyapatite consumption
• North America shall account for nearly 35% of the market value, pushed by high demand for prosthetic implants for professional purposes
• Rising cases of accident-related injuries up-scaling demand in the Asia-Pacific region

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Hydroxyapatite Market- Competitive Landscape

A handful of players dominate the global hydroxyapatite market, rendering it highly consolidated. Prominent players in this landscape are: Plasma Biotal Ltd., Nano Interface Technology, Premier Biomaterials, Bonesupport AB, Fluidinova, Sigma Gift and Berkeley Advanced Biomaterials. These players are using a combination of organic and inorganic strategies to remain afloat in the market.

Bonesupport AB, for instance, offers the Cerament Bone Void Filler, the Cerament G and the Cerament V drug formulations in its pipeline. The company has its geographical presence across North America, Europe and Asia which helps it cater to a diverse range of end-users, thus helping it stay afloat in the market.

Also, Berkeley Advanced Biomaterials entered into an agreement with Japan's GNI Group Ltd. in which the latter acquired a 70% stake of the former to develop a range of proprietary technologies to process biocompatible ceramics, polymers and human allograft tissue for orthopedic surgeries. The acquisition occurred in 2017.

That same year, Plasma Biotal unveiled its new facility in Pune, India in order to provide hydroxyapatite coating services to orthopedic manufacturers across India.

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Hydroxyapatite Market Taxonomy

Grade

• Medical Grade
• Cosmetic Grade
• Research Grade

Application

• Dental
• Orthopedic
• Biochemical Research
• Others

Region/Country

North America

• U.S
• Canada

Latin America

• Brazil
• Mexico
• Rest of Latin America

Western Europe

• EU-5
• BENELUX
• Rest of Western Europe

Eastern Europe

• Russia
• Poland
• Rest of Eastern Europe

China

India

Japan

South East Asia & Pacific

• ASEAN
• South Korea
• Oceania
• Rest of SEAP

Middle East & Africa

• GCC
• Turkey
• South Africa
• Rest of MEA

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More Insights on the Hydroxyapatite Market

FMI's research report analyzes the consumption of hydroxyapatite on the basis of value (US$ Mn) and volume (Tons). By providing a detailed assessment, the report brings about an objectivity and unbiasedness, prompting readers to glean valuable insights and incorporate them in their business practices. The report incorporates global industry analysis for the time period 2015-2019 as well as opportunity assessment from 2020-2030. The market is segmented into two categories across nine prominent geographies.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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SOURCE Future Market Insights