Factors driving the growth of this market include increasing incidence of sports injuries and rapid growth in the geriatric population. Developments in the field of regenerative medicines and the growing number of road traffic accidents are some other factors supporting the growth of the market. The market covers various types of bone cement and glues that are used to fix implants during orthopedic procedures such as arthroplasty, kyphoplasty, vertebroplasty, and several types of fractures.
What the Market Looks Like?
Predicted to grow at a CAGR of 5.9% during the forecast period, the global Bone Cement and Glue Market is estimated to reach $1,322.6 Million.
Based on type, the market is categorized into bone cement and bone glue. The bone glue segment is expected to grow at the fastest rate during the forecast period. Increasing the adoption of bone glue due to its innovative and advanced applications in the management of fractures is the main factor contributing to the high growth rate of this segment.
Based on the application, the market is categorized into arthroplasty, kyphoplasty, vertebroplasty, and other applications (injuries of the head, face, dental, and fingers). The arthroplasty segment is estimated to grow at the fastest rate during the forecast period. The growth of this segment can be attributed to the increasing number of arthroplasty procedures and the rising incidence of osteoporosis across the globe.
By end-user, the Bone Cement and Glue Market are classified into hospitals; ambulatory surgery centers (ASCs); and clinics/physician offices. The hospital's segment is estimated to grow at the fastest rate during the forecast period. The increasing number of hospital in-patient-based orthopedic procedures is driving the demand for bone cement and glue in this segment
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What Drives the Market?
The growth of the global market for Bone Cement and Glue is primarily influenced by the following factors:
· Increasing Incidence of Sports Injuries
· Rapid Growth in Geriatric Population
· Developments in the Field of Regenerative Medicine
· Growing Number of Road Traffic Accidents
The factors such as the high degree of consolidation and complex regulatory framework for the approval of new products may restrain the market’s growth to a certain extent.
Geographical growth scenario of Bone Cement and Glue Market
Geographically, the bone cement market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The Asia Pacific is expected to have the fastest growth rate due to improving healthcare infrastructure, the heavy burden of orthopedic medical conditions, raising awareness about management of orthopedic diseases, and growth in the demand for bone cement and glue.
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Leading market players and strategies adopted
The prominent players in the Bone Cement and Glue market include Stryker (US), Zimmer Biomet (US), Heraeus Medical (Germany), Smith & Nephew (UK), and DJO Global (US) have been identified as the key players in this market. These companies have a broad product portfolio with comprehensive features and have also expanded their presence geographically. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.