The global hydroxyapatite market was valued at US$ 480.2 million in 2022 and is likely to reach US$ 501.8 million by 2023. Furthermore, with rising demand from the healthcare industry, the overall sales of hydroxyapatite are expected to grow at a robust CAGR of 7.8% between 2023 and 2033, topping a valuation of US$ 1,063.5 million by 2033.
Hydroxyapatite is a naturally occurring mineral form of calcium apatite, generally used for bone repair and bone regeneration. It is being increasingly utilized in dental and orthopedic applications due to its optimum stability, biocompatibility, bioactivity, osteo-conductivity, and non-toxic nature.
Thermodynamically, hydroxyapatite is the most stable calcium phosphate compound under physical conditions such as temperature, pH, and composition of body fluids.
Due to the sheer growing preference for biomaterials, the dental implant and prosthetic industry are expected to have a direct impact on hydroxyapatite consumption. Over the forecast period, biochemical research is projected to propel the hydroxyapatite industry growth by expanding the application areas for 3-D printing and artificial bones.
2018 to 2022 Hydroxyapatite Demand Outlook Compared to 2023 to 2033 Forecast
The global hydroxyapatite market witnessed a CAGR of 4.1% during the historical period of 2018 to 2022. However, with the rising prevalence of medical conditions like periodontal bone defects and the growing usage of hydroxyapatite in treating these conditions, the overall hydroxyapatite industry is poised to grow at 7.8% CAGR between 2023 and 2033.
Hydroxyapatite is mostly used for bone repair and bone regeneration in the form of granules, blocks, and scaffolds, by itself or as a composite with polymers or other materials. Besides this, it finds application in biochemical research, surgical procedures, medicines, bioceramic coatings, etc.
Thus, the rapid expansion of medical & pharmaceuticals, cosmetics, food & other industries. worldwide is projected to eventually trigger the growth of the hydroxyapatite market during the forecast period.
Similarly, continuous technological advancements in various end-use industries and the consumption of hydroxyapatite in various technologies such as 3-D printing is expected to create sales prospects within the global hydroxyapatite industry over the forthcoming period.
What are the Key Trends Driving the Global Hydroxyapatite Powder Market?
Growing Demand for Implants Due to the Surge in Geriatric Population Pushing the Demand for Hydroxyapatite
In the elderly population, tooth loss has become a prevalent issue. According to the World Bank, the population over 65 has increased significantly during the past ten years. Various studies have revealed that the chances of developing ailments including osteoarthritis, knee, joint, and hip issues, as well as dental decay, are higher in the aging population.
There have also been escalating accidents worldwide that caused damage to bones, teeth, etc. The number of patients seeking such implants and replacements has increased significantly. As a result of this, there has been a rise in hydroxyapatite demand.
With an aging population and a surge in health issues across the world, demand for implants is expected to rise during the forecast period. This is projected to bolster the growth of the hydroxyapatite industry.
Rising Spending on Facial Rejuvenation Treatments to Create Opportunities for Hydroxyapatite Market
In the past ten years, non-surgical procedures for facial rejuvenation have become increasingly popular. There are numerous causes for this. Patients who want to see quick, natural results with the least amount of difficulty are drawn to these treatments since they are less expensive and need less recovery time than surgical procedures.
For these procedures, options including Botox and dermal fillers are available. As an alternative to collagen- and hyaluronic acid-based fillers, hydroxyapatite-based fillers are an excellent choice.
In terms of materials for wrinkle fillers, hydroxyapatite makes sense. Human teeth and bones naturally contain this harmless, biodegradable, and biocompatible mineral. The popular filler Radiesse, which is made of hydroxyapatite, is made up of tiny hydroxyapatite microspheres (particles) contained in a gel-like fluid. Moderate to facial folds, deep wrinkles, lipoatrophy, and similar issues are the most typical uses of hydroxyapatite-based cosmetic fillers.
What is Projected to be the Growth Outlook for the United States Hydroxyapatite Market
Rising Healthcare Spending Boosting Hydroxyapatite Market Growth in the United States
As per FMI’s latest analysis, the United States is projected to continue to dominate the North American hydroxyapatite market during the forecast period, owing to the better healthcare infrastructure, the surge in the number of non-invasive cosmetic surgeries, increasing healthcare spending, and strong presence of leading hydroxyapatite manufacturers.
The rapid rise in healthcare spending is a key factor driving growth in the United States hydroxyapatite market. According to the Centers for Medicare & Medicaid Services, the United States’ healthcare spending grew 9.7% in 2020, reaching US$ 4.1 trillion. As a share of the nation’s Gross Domestic Product, health spending accounted for 19.7%.
Similarly, as per World Bank data, the population over 65 in the United States accounted for approximately 16.6% of the total population, necessitating more medical attention for tooth decay and gum problems.
Thus, the growing adoption of highly advanced implants across the healthcare industry is expected to boost the demand for hydroxyapatite in the United States market during the assessment period. FMI predicts the United States hydroxyapatite industry to reach around US$ 266.2 million by the end of 2033.
Competitive Landscape
The hydroxyapatite industry is fairly consolidated with key players holding a significant share in the market. Key manufacturers are devoted to adopting strategies like investments in R&D, partnerships, collaborations, and acquisitions. They are also signing agreements & contracts with end-use industries for long-term supply of material & to gain more profit.
For instance,
In March 2022, CGbio signed a five-year contract worth 10 billion KRW with Kerunxi Medical, a Chinese specializing in dental equipment, for the export of Bongros Dental, a bone graft material made of hydroxyapatite ceramic.
In June 2020, CAM Bioceramics announced that it is going to provide restorable ceramics made of hydroxyapatite to Admatec for 3-D printing in Admaflec Printing Systems, which is projected to open the door for Admatec to join the dental care products sector.
In October 2020, Allergan Aesthetics, an Abbvie company, acquired Luminera Dermal Filler Business.
The Zimmer Biomet Holdings Inc., in March 2022, revealed that the firm concluded its spinoff of ZimVie, which is Zimmer Biomet’s previous spine and dental business.
Cgbio entered a five-year contract of value KRW 10 billion with a Chinese firm specializing in dental equipment called Kerunxi Medical in March 2022. The deal is made to export a bone graft material named Bongros Dental.
