PUNE, India, August 8, 2018 /PRNewswire/ --
According to a new market research report "Hydroxyapatite Market by Type (Nano-sized, Micro-sized, Greater than Micrometers), Application (Orthopedic, Dental Care, Plastic Surgery), and Region (North America, Europe, Asia-Pacific, and Rest of the World) - Global Forecast to 2023", published by MarketsandMarkets™, the HAp market is projected to grow from USD 2.22 billion in 2018 to USD 2.97 billion by 2023, at a CAGR of 5.9% between 2018 and 2023.
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Increasing demand for orthopedic and dental implants, growing popularity of bioactive materials, and continuous R&D activities to increase the applicability of hydroxyapatite are expected to drive the growth of the HAp Market across the globe during the forecast period.
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Among types, the micro-sized HAp Market is projected to grow at the highest CAGR during the forecast period.
Micro-sized hydroxyapatite is easy to manufacture and can be engineered using nanotechnology to make it highly suitable for specific applications such as drug delivery systems and orthopedic surgeries. The use of nanotechnology increases the applicability of micro-sized hydroxyapatite, thereby fueling its demand in various applications. Micro-sized hydroxyapatite is primarily used as an alternative to allogeneic and xenogeneic bone grafts. It is also used as a bone cement to fill the voids in bones and teeth. Micro-sized hydroxyapatite is also used as a coating for implants and screws.
Among applications, the orthopedic segment of the HAp Market is projected to grow at the highest CAGR during the forecast period.
Among applications, the orthopedic segment of the HAp Market is projected to grow at the highest CAGR between 2018 and 2023. Hydroxyapatite is used as a natural bone substitute in orthopedic applications. It is also widely used to coat the metal implants to increase their biocompatibility. The aging population and growing accessibility and affordability of orthopedic treatments are fueling the growth of the orthopedic application segment of the HAp Market.
The North American region accounted for the largest share of the HAp Market in 2017.
The North American region is the prime consumer of hydroxyapatite, globally. It accounted for the largest share of the HAp Market in 2017. The US is projected to lead the North America HAp Market between 2018 and 2023. The growth of the North America HAp Market can be attributed to the rising geriatric population across the globe and increasing number of arthroplasty and dental implant surgeries performed in the region.
The major players operating in the Hydroxyapatite (Hap) Market are Berkeley Advanced Biomaterials (US), CAM Bioceramics (Netherlands), Fluidinova (Portugal), SigmaGraft (US), SofSera (Japan), and Taihei Chemical Industrial Co. Ltd. (Japan).
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