Market Challenges And Opportunities

Restraints & Challenges:

Poor mechanical properties hydroxyapatite
High cost of implants

Global Hydroxyapatite Market Drivers:

Growing demand from prosthetic applications is fostering market growth

Hydroxyapatite is widely used in biomedical applications to coat/form prostheses or implants and as a filling material. Also, increasing healthcare expenditure across developed countries is propelling market growth. According to the journal published by the University of Toronto, Canada spends approximately 11.1% of its GDP on healthcare compared to other high-income countries. The government primarily funds the Canadian healthcare system, with only 30% from the private sector. Health expenditure in Germany in 2021 was EUR 465,707 million.

Increasing demand from orthopedic application is augmenting market growth

Orthopedic implants are used to support a broken or missing bone or joint. Growing prevalence of arthritis, osteoporosis, and other joints related products is also creating demand for orthopedic devices. According to a recent analysis of the Global Burden of Disease (GBD) data, approximately 1.71 billion people worldwide have musculoskeletal conditions. Osteoarthritis, rheumatoid arthritis, psoriatic arthritis, osteoporosis, osteopenia, and other joint conditions are included in musculoskeletal conditions.

Global Hydroxyapatite Market Opportunities:

Advent of hydroxyapatite ceramics is expected to offer potential market opportunities. For instance, in September 2018, Bio-Rad Laboratories, Inc., a global marketer of life science research and clinical diagnostic products, announced the launch of two new chromatography media for process protein purification: CHT Ceramic Hydroxyapatite XT Media and Nuvia HP-Q Resin.

Increase in consumer awareness, and surge in interest as a biomaterial for use in prosthetic applications are expected to present significant growth opportunities. Moreover, growing popularity of micro-sized hydroxyapatite is again escalating market growth.

Hydroxyapatite Market Report Snapshots