by Hydroxyapatite is one of the most commonly used synthetic bone graft materials adopted in dental and orthopaedic procedures. It is derived from natural bone mineral and has similar chemical composition and structure to human bones and teeth. Hydroxyapatite can be easily fabricated into different forms such as granules, porous scaffolds,injectables and coatings to replace damaged bones and teeth. It promotes rapid bone formation, is biocompatible, osteoconductive and resorbable in nature.
The global Hydroxyapatite market is estimated to be valued at US$ 2396.9 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the hydroxyapatite market includes the growing demand for advanced bone graft materials with superior osteogenic properties. Hydroxyapatite possesses better bone bonding and remodeling capabilities as compared to other synthetic bone grafts like calcium sulfate and tricalcium phosphate. Research efforts are ongoing to develop nanosized crystalline particles and 3D printed porous scaffolds of hydroxyapatite that can stimulate cell proliferation and new bone formation at a faster rate. Many companies are also focused on coating metallic implants with hydroxyapatite to enhance osseointegration and lifelong stability of implants. Overall, the excellent osteoconductivity of hydroxyapatite has boosted its adoption in dentistry and orthopedics for treating both small and large bone defects.
Porter’s Analysis
Threat of new entrants: High capital requirements to establish manufacturing facilities pose entry barriers for new players in the market.
Bargaining power of buyers: The global market has several buyers but no single buyer has significant influence over suppliers and price setting.
Bargaining power of suppliers: Presence of plenty of suppliers and easy availability of raw materials limits their bargaining power.
Threat of new substitutes: No cost-effective substitute is available for packaging containers such as prefilled syringes and vials currently.
Competitive rivalry: The market has few global players but several local and regional suppliers, resulting in high competition.
Key Takeaways
The Global Hydroxyapatite Market Size is expected to witness high growth.
Regional analysis: North America holds largest share of over 35% of global Hydroxyapatite market owing to strong presence of key pharmaceutical companies. Asia Pacific market is projected to witness fastest growth during 2023-2030 with CAGR of around 7.5% on back of growing pharmaceutical industries in India, China and other Southeast Asian countries.
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, and Ompi – Stevanato Group. These players are focusing on new product launches and geographical expansion to strengthen their market position.
