The Hydroxyapatite (HAp) market is projected to grow at a CAGR of 5.9% between 2018 and 2023
NEW YORK, August 15, 2018 /PRNewswire/ --
The Hydroxyapatite (HAp) market is projected to grow at a CAGR of 5.9% between 2018 and 2023.
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The HAp market is projected to grow from USD 2.22 billion in 2018 to USD 2.97 billion by 2023, at a CAGR of 5.9% between 2018 and 2023. Growing geriatric population, increasing healthcare expenditure, and increasing demand for medical implants are some of the drivers fueling the growth of the HAp market across the globe. However, some of the major restraints for the growth of the HAp market are unfavorable healthcare reforms in the US and unmet performance benchmark by hydroxyapatite such as it has low fracture toughness.
Among types, the micro-sized segment of the HAp market is projected to grow at the highest CAGR between 2018 and 2023.
The micro-sized hydroxyapatite is used in various applications.Along with orthopedic and dental care applications, micro-sized hydroxyapatite is also used in maxillofacial surgeries, oculo-orbital surgeries, and dermal fillers and implants.
The micro-sized hydroxyapatite is used in the pharmaceutical applications for controlled delivery of genes and proteins to the target tissues.The nano-engineered micro-sized hydroxyapatite is expected to widen the application window and improve the performance of hydroxyapatite.
The improving performance and widening application scope of micro-sized hydroxyapatite are estimated to fuel the growth of the micro-sized segment of the HAp market during the forecast period.
Among applications, the dental care segment of the HAp market is projected to grow at a significant rate during the forecast period.
Hydroxyapatite is majorly used in enamel and dental care solutions in the oral care industry.It is one of the main components of teeth that accounts for 97% of enamel and 70% of dentin.
In the dental care application, hydroxyapatite is widely preferred over fluoride for remineralization of teeth surfaces. Hydroxyapatite granules are used in various clinical dental practices such as the reconstruction of periodontal bone defects; filling bone defects after cystectomy, after apicoectomy, and after the loss of dental implants; and increasing the thickness of atrophic alveolar ridges.
The Asia Pacific HAp market is projected to grow at the highest CAGR between 2018 and 2023.
The Asia Pacific HAp market is projected to grow at the highest CAGR during the forecast period.The growth of the Asia Pacific HAp market can be attributed to the flourishing healthcare sector in the region.
The orthopedic application segment led the Asia Pacific HAp market in 2017, followed by the dental care application segment.Countries such as China, Japan, India, and South Korea are experiencing rapid growth in the medical tourism, thereby leading to the growth of their domestic healthcare sectors.
This, in turn, is expected to fuel the growth of the HAp market in the region. Moreover, the increasing awareness among masses about the cost-effective treatments and rapidly developing infrastructure of the medical sector in these countries are expected to lead to the growth of the Asia Pacific HAp market during the forecast period.
The break-up of primary interviews is as follows.
• By Company Type - Tier 1 – 8%, Tier 2 – 20%, and Others – 72%
• By Designation - C level – 26%, Director level – 30%, and Others – 44%
• By Region - North America – 20%, Europe – 35%, Asia Pacific – 30%, and Rest of the World (RoW) - 15%
The key companies operating in the HAp market Berkeley Advanced Biomaterials (US), CAM Bioceramics (Netherlands), Fluidinova (Portugal), SigmaGraft (US), SofSera (Japan), and Taihei Chemical Industrial Co. Ltd. (Japan).
Research Coverage:
This research report segments the HAp market based on type, application, and region. It includes detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the HAp market across the globe.
Reasons to Buy the Report
The report is expected to help the market leaders/new entrants in the HAp market in the following ways:
1. This report segments the HAp market comprehensively and provides the closest approximations of the sizes for the overall market and its subsegments across different verticals and regions.
2. The report is expected to help the stakeholders understand the pulse of the HAp market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
3. This report is expected to help the stakeholders obtain information about the major competitors in the market and gain insights to enhance their position in the HAp market.
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