Hydroxyapatite Market - An Overview
The global hydroxyapatite market is expected to witness moderate growth during the forecast period between 2021 and 2031.
Hydroxyapatite is a substance comprising largely of calcium phosphate and is a key constituent of teeth and bones. The presence of calcium phosphate in hydroxyapatite promotes osseointegration between the orthopedic and bone implants, permitting smooth functional and structural connection.
Hydroxyapatite has gained prominence in recent times, owing to its increased deployment as an implant coating.
Hydroxyapatite in powdered form has witnessed increased demand in the last few years because they bond superbly with the host tissues, thereby leading to improved biological performance.
The outbreak of the COVID-19 pandemic adversely affected the global hydroxyapatite market. With governments imposing strict social distancing regulations and lockdowns, dental services were forced to shut down temporarily or permanently.
This led to a reduction in demand for hydroxyapatite globally and negatively impacted the overall hydroxyapatite market.
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Hydroxyapatite Market - Trends and Opportunities
Rising customer awareness about bioactive ceramics is the key growth driver for the global hydroxyapatite market.
Also, increasing demand for bone grafting materials and bone transplants could fuel the growth in the global hydroxyapatite market, in the years ahead.
Growing aging population suffering from different diseases worldwide could also contribute to the growth of the overall hydroxyapatite market, in the years ahead.
Advancements to existing products used for the treatment of hydroxyapatite could help bolster the global hydroxyapatite market, in the coming years.
Other factors such as increasing geriatric population worldwide and rising disposable income among population sections worldwide could help in propelling the hydroxyapatite market, in future.
Orthopedic application segment is expected to make the largest contribution to the overall hydroxyapatite market owing to increasing number of aging patients opting for orthopedic treatment, globally.
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Hydroxyapatite Market - Competitive Landscape
The global hydroxyapatite market is highly competitive, with the presence of several well-established market players. Many of these players have become successful, owing to years of delivering consistent results.
Well-established hydroxyapatite market players are expected to account for a large share in the global hydroxyapatite market, in the coming years.
Growth strategies such as novel product launches could help prominent hydroxyapatite market players, gain a competitive edge over other players.
Collaborations with smaller players could help well-established hydroxyapatite market players expand their market presence and increase their revenue shares.
R&D undertakings could be a key growth strategy for the prominent hydroxyapatite market players, in the years ahead.
A few leading players in the global hydroxyapatite market include APS Materials Inc., Zimmer Biomet, CAMBioceramics B.V., and SigmaGraft Inc.
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Hydroxyapatite Market - Regional Assessment
The global hydroxyapatite market is divided into four regions, namely, North America, Europe, Asia Pacific, and rest of the world.
North America is expected to be the dominant region in the global hydroxyapatite market because of the presence of developed infrastructure facilities such as hospitals and clinics in countries such as US and Canada.
Also, increased presence of population above the age of 65 in these countries suffering from tooth decay as well as knee and joint pain could contribute to the growth of the hydroxyapatite market in North America, in the coming years.
Europe is anticipated to witness substantial growth in the overall hydroxyapatite market in future because of the increased presence of domestic market players in countries such as Germany and UK, which offer superior hydroxyapatite coatings at reduced costs.
Asia Pacific is expected to witness strong growth in the overall hydroxyapatite market because of increased product demand from countries such as Japan and China, contributing to market growth in the region.
The rest of the world is expected to witness moderate growth in the overall hydroxyapatite market, in the years ahead.
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