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Market Overview:
The Hydroxyapatite Market size is estimated to reach $2.9 billion by 2030, growing at a CAGR of 6% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Hydroxyapatite Market Size, Share & Trends Analysis Report - By Type (Nano-Sized, Micro-Sized, and Greater Than Micrometer), By Application (Acrylic, Polyurethane, Silicone, Epoxy coating, Parylene, Others), By Application (Orthopedic, Dental Care, Plastic Surgery, and Others), By Geography – Opportunity Analysis & Industry Forecast, 2024-2030”
Growing demand of medical implants and rising focus on biocompatible materials are fueling the growth of the Hydroxyapatite industry during the forecast period.
North America Dominated the Market in 2023:
In 2023, North America emerged as the largest market for hydroxyapatite, primarily due to significant investments in healthcare infrastructure across the region. The World Health Organization reported that in 2022, the United States alone conducted 18,577,953 orthopedic procedures, highlighting the high demand for effective biomaterials like hydroxyapatite in medical applications. This robust healthcare activity is indicative of the region's commitment to advanced medical technologies and treatments, further solidifying North America's dominant position in the hydroxyapatite market.
Hydroxyapatite Market: Key Takeaways
Growing Demand of Medical Implants is Driving the Market Growth:
Medical implants are artificial devices designed to substitute damaged or absent biological components in the body. These implants play crucial roles in administering medications, regulating bodily functions, and providing support in various medical applications, including dental, orthopedic, and cardiovascular fields. The rising demand for medical implants is fueled by the growing healthcare requirements of the aging population, advancements in medical technology, and the increasing incidence of chronic diseases like osteoarthritis and cardiovascular issues. According to the World Health Organization, in 2022, nearly 3.5 billion people worldwide were affected by oral diseases, predominantly in middle-income countries.
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Market Growth Driven by Rising Focus on Biocompatible Materials:
There is a growing emphasis on biocompatible materials in the healthcare industry, particularly in implants and prosthetics. Hydroxyapatite, known for its natural similarity to human bone, is a preferred choice for various medical applications, including bone grafts and coatings for implants. The increasing awareness of the benefits of biocompatibility, such as reduced rejection rates and improved healing times, is driving the hydroxyapatite market. Moreover, regulatory bodies are promoting the use of biocompatible materials, further enhancing market growth. This trend aligns with the broader shift towards more sustainable and patient-friendly medical solutions.
Scope of the Report:
Recent Developments:
• In February 2022, TSAML an indirect wholly owned subsidiary of Tata Steel Limited, has executed a Share Purchase cum Shareholders’ Agreement for acquisition of 90% equity stake in Ceramat Private Limited to focus on producing Hydroxyapatite.
Hydroxyapatite Market: Competitive Landscape
Key companies profiled in the Hydroxyapatite Market are CAM Bioceramics, Berkeley Advanced Biomaterials, SigmaGraft Inc. Biomaterials, Fluidinova, Taihei Chemical Industrial Co. Ltd., SofSera, APS Material, Zimmer Biomet, APS Materials, and Granulab (M) Sdn Bhd., and others.
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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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IndustryARC
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