Bone Cement Market Size Worth $1.62Bn, Globally, by 2028 at 5.7% CAGR - Exclusive Report by The Insight Partners

The Bone Cement Market Size, Growth driven by the high prevalence of osteoporosis, the increasing geriatric population, the rising popularity of various treatments, such as kyphoplasty, arthroplasty, and vertebroplasty, rising developments in the field of regenerative medicine, rising number of road traffic accidents, growing demand for orthopedic bone cement and casting materials, and rising number of domestic and global players entering the market with new ingredients such as antibiotic-impregnated bone cement.

NEW YORK, March 15, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Bone Cement Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Polymethyl Methacrylate (PMMA) Cement, Calcium Phosphate Cement (CPC), and Glass Polyalkenoate Cement (GPC)], Application (Arthroplasty, Kyphoplasty, and Vertebroplasty), and End User [Hospitals, Ambulatory Surgery Centers (ASCs), and Clinics]", the global bone cement market is projected to reach $1.62 Bn by 2028 from $1.10 Bn in 2021. It is expected to grow at a CAGR of 5.7% from 2021 to 2028.

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Bone Cement Market: Competitive Landscape and Key Developments

DePuy Synthes (The Orthopedics Company of Johnson & Johnson); Zimmer Biomet; Stryker Corporation; Smith & Nephew; DJO Global, Inc.; Arthrex, Inc.; Tecres S.p.A.; Heraeus Holding GmbH; Teknimed and Cardinal Health Inc. are among the leading companies operating in the global bone cement market. These players are focusing on expanding, diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.

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In December 2020, Smith & Nephew initiated a field action to remove a single lot of Versabond AB 40 Grams Formulation 2 due to potential heat and humidity exposure. It was described that the affected lot contained an atypical sandy, flaky, or grainy consistency when mixing.

In January 2018, Heraeus Holding GmbH announced the availability of PALACOS portfolio of bone cement products directly through its affiliate Heraeus Medical LLC in the United States. The company can now provide its customers with earlier access to its latest innovations by selling to them directly.

In 2020, North America dominated the bone cement market. The US holds the largest share of the market in this region. The market growth in the country is attributed to the increasing prevalence of osteoporosis, rising innovations in bone cement, increasing geriatric population, and a rising visit to the emergency department for the diagnosis of a fracture in the region.

The US has one of the highest costs of the bone cement market globally. It is home to the world's leading multinational corporations, such as DePuy Synthes (The Orthopedics Company of Johnson & Johnson); Zimmer Biomet; Stryker Corporation; and Arthrex, Inc. It tends to have the most cutting-edge technology. All this contributes to higher market growth in the region. According to a survey from the Centers for Disease Control and Prevention, an average of 3.5 million to 4.4 million people visit the emergency room every year with fractures. Annual healthcare expenses for osteoporotic treatment fractures range from US$ 17 million to US$ 20 billion.

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Growing Number of Orthopedic Surgeries Boosts Bone Cement Market Size:

The growing number of orthopedic procedures worldwide is also helping boost the market for bone cement. Due to an increase in road accidents and various forms of injuries, surgeries are constantly increasing. A growing number of bone-related disorders, such as knee discomfort and joint pain in the elderly, are included. According to WHO estimates, up to 50 million people die each year due to injuries, particularly road traffic accidents, the eighth biggest cause of mortality for people of all ages globally. Despite having over 60% of the world's vehicles, low and middle-income countries account for 93 percent of all road deaths. Furthermore, the market's growth is driven by market players' increased research and development activities and product offerings. The consistent push of significant manufacturers to maintain their revenue share in the bone cement market is one of the prime factors expected to propel the growth of the bone cement market during the forecast period.

Bone Cement Market: Segmental Overview

Based on the type, the bone cement market is segmented into polymethyl methacrylate (PMMA) cement, calcium phosphate cement (CPC), and glass polyalkenoate cement (GPC). The polymethyl methacrylate (PMMA) cement segment is likely to hold the largest share of the market in 2020. With bioresorbable and biocompatible properties, the calcium phosphate cement (CPC) segment is anticipated to register the highest CAGR in the market during the forecast period.

Based on the Application, the bone cement market is segmented into arthroplasty, kyphoplasty, and vertebroplasty. In 2020, the arthroplasty segment is likely to hold the largest share of the market. With the rising uptake of kyphoplasty worldwide, the kyphoplasty segment is also expected to witness growth in demand at the fastest CAGR from 2021 to 2028.

Based on end user, the bone cement market is segmented into hospitals, ambulatory surgery centers (ASCs), and clinics. In 2020, the hospital segment is likely to hold the largest share of the market. Moreover, the ambulatory surgery centers (ASCs) segment is also expected to witness growth in demand at the fastest CAGR in the market during the forecast period.

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The COVID-19 pandemic has heavily affected North American countries, including the US and Canada. These countries reported the highest numbers of COVID-19 positive cases. The US registered the highest number of deaths due to the COVID-19 pandemic. According to World Health Organization (WHO), the demand for diagnosing and therapeutic devices dramatically increased in hospitals with the chaotic situation erupted in the medical industry across the region. As the epidemic has become a global pandemic, many health authorities focused on pandemic-related care. They avoided human contact due to growing transmission and strain on healthcare resources by postponing elective surgeries, suspending outpatient clinics, and triaging employees involved in urgent care. Orthopedic surgeons have seen significant effects on their ability to offer timely and high-quality surgical care, training, and research due to these changes. Even when hospitals resumed elective surgeries, cases were prioritized based on clinical urgency, causing severe delays in regular and time-sensitive elective care for orthopedic patients. Like practicing physicians and their patients, medical trainees have also been adversely affected by changes in healthcare delivery and education necessitated due to the COVID-19 pandemic.

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