How has the rising prevalence of osteoporosis fuelled the expansion of the bone cement market?
Bone cement is a mixture of solid and liquid components that create a bone-like structure for use in the human body. Filling the space between the prosthetic and the bone gives flexibility. It is a material utilized in hip replacement surgery as an adhesive to keep the new hip in place. It is either pre-mixed or in the form of powders and liquids blended in the operating room during surgery. Bone cements are used to reinforce bone stability during internal fixation surgery. It is also required in several total joint arthroplasty surgeries. The cement's primary tasks in a cemented arthroplasty are immobilizing the implant, transferring body weight and service stresses from the prosthesis to the bone, and boosting the prosthesis's load-carrying capacity. -bone cement system. Osteoporosis is characterized by poor bone density and bone tissue degeneration. Fractures are more likely in osteoporosis patients. In recent years, there has been an increase in the number of cases of osteoporosis. According to a Restore Programme article released in October 2020, every year, osteoporosis causes more than 8.9 million fractures worldwide, or one every three seconds, with one in every three women and one in every five men over 50 suffering from an osteoporotic fracture. Osteoporosis increases the likelihood of fractures and joint surgeries. As a result, the increased prevalence of osteoporosis is increasing demand for and sales of bone cement, adding to the bone cement market's growth.
What is the Market Size of Bone Cement in terms of value?
The global Bone Cement Market is projected to increase at a significant CAGR of 5.50 % in the coming years. In 2021, the global Bone Cement market was valued at USD 982.5 million and was projected to reach the value of USD 1354.71 million by 2028. The demand for Bone Cement is projected to increase substantially in the coming years and is presumed to generate revenue opportunities for the key industry players worth USD 372.21 million during the forecast period of 2022 and 2028.
What impact has COVID-19 had on the bone cement market?
COVID-19 had an immediate and dramatic influence on the bone cement market. Businesses in the region are being affected by supply chain disruptions and increased demand. Remote patient treatment is being used and preferred by healthcare practitioners and patients to reduce COVID-19 infection in hospitals and clinics. The orthopedic practice could not remain untouched in the face of such unanticipated events. Many surgical procedures and non-urgent consultations were postponed or canceled. To limit the spread of the virus and reserve and reallocate resources in healthcare personnel (nurses, anesthesiologists), medical equipment (personal protective equipment, ventilators), and beds, many institutions suspended elective surgery, and the overall volume of orthopedic cases fell dramatically. Even when hospitals started elective surgery, cases were prioritized based on clinical urgency, resulting in significant delays in routine and time-sensitive orthopedic elective care.
Interesting Facts about Bone Cement Industry
The increasing incidence of periodontitis in young people, an aging population, and increased demand for orthopedic bone cement and casting materials are some of the primary factors driving the global bone cement market. The prevalence of osteoporosis is increasing, as is the demand for arthroplasty, and the geriatric population is rapidly growing.
The North American region had a major share in terms of volume as well as value in the global Bone Cement market in 2021 and is projected to continue its dominance over the forecast period.
Polymethyl methacrylate (PMMA) is a popular bone cement around the world. Aside from the commonly utilized Polymethyl methacrylate, bone cement such as calcium phosphate cement (CPC) and glass polyalkenoate cement (GPC) are employed in a variety of orthopedic and dental applications.
Product launches and mergers & acquisitions are popular strategies among companies in the global bone cement market.
Who are the Top 10 Players/Companies in the Bone Cement market in terms of value?
The key players in the global Bone Cement market in terms of value include DePuy DJO Global, Inc., Arthrex, Inc., Tecres S.p.A., Heraeus Holding GmbH, Teknimed, Synthes (The Orthopedics Company of Johnson & Johnson), Zimmer Biomet, Stryker Corporation, Smith & Nephew, and Cardinal Health Inc. These key players are concentrating on new product developments as well as technological innovation to enhance their production in Bone Cement to gain competitive market share at a global level. For instance, in July 2021, Celularity Inc.'s placental-derived biomaterial products for orthopedics and sports medicine will be sold and commercialized in the United States by Arthrex, Inc. On the other hand, in July 2019, Hunan University of Science and Technology researchers reported the invention of Strontium (Sr)-dicalcium silicate bone cement with in situ Sr substitution and uniform Sr distribution for orthopedic applications. The osteogenesis potential of dicalcium silicate bone cement containing Sr for orthopedic applications was boosted.
Who are the Top 10 Countries in the Bone Cement Market?
In the global Bone Cement market, the major countries are the US, Canada, China, Japan, Australia, Germany, France, Italy, Spain, and the UK. The largest market share is in the United States. The aging population and the increased prevalence of obesity are two reasons driving the orthopedic bone cement market trends. For instance, childhood obesity has become a serious issue in the United States, which could drive demand for bone cement, as obese persons have low bone density and are more likely to fracture. Furthermore, the increasing occurrence of spinal cord tumors in children and adolescents will drive the use of bone cement in orthopedic surgery, including minimally invasive procedures such as kyphoplasty. Every year, an estimated 1.5 million persons in the United States are impacted by fractures. According to the CDC, an estimated 3.5 - 4.4 million people visit emergency departments each year for fracture diagnosis. Furthermore, according to the American Academy of Orthopaedic Surgeons (AAOS), osteoporosis-induced fractures frequently arise in the spine. Spinal fractures (also known as spinal compression fractures) are predicted to occur 1.5 million times per year in the United States. They are nearly twice as common as other fractures commonly associated with osteoporosis, such as hip and wrist fractures.
Which is the Key Application Segment in the Bone Cement Market?
The bone cement market is segmented into arthroplasty, kyphoplasty, and vertebroplasty. The worldwide bone cement market is expected to be dominated by the arthroplasty segment. Arthroplasty is a type of orthopaedic surgery in which the articular surface of a musculoskeletal joint is replaced, modified, or realigned using osteotomy or another method. It is an elective operation used to reduce pain and restore function to a joint damaged by arthritis or another trauma. The growing demand for bone cement in knee, hip, and shoulder arthroplasty surgeries around the world can be ascribed to the substantial share of this category.
What are the Major Driving Factors for Bone Cement Market?
Increasing rates of periodontitis in young people, a rising geriatric population, and a rising need for orthopedic bone cement and casting materials are some key factors propelling the growth of the worldwide bone cement market. The prevalence of osteoporosis is increasing, arthroplasty demand is rising, and the elderly population is growing significantly. These factors are driving the market's expansion. In addition, the market for bone cement is expanding as a result of rising sports injuries and an increase in traffic accidents. Furthermore, the market is expanding as a result of additional developments in the field of regenerative medicine. However, the market for bone cement is anticipated to be driven by the globally rising prevalence of hip, knee, and other bone replacement procedures.
What are the Major Restraints for Bone Cement Market?
Rising unfavorable reimbursement scenarios, increased costs, and extensive clinical data requirements for launching new bone cement are among the major factors obstructing market growth, while the rising development of novel biomaterials with high mechanical properties and adhesion strength will further challenge market growth during the forecast period.
Which Region Dominated the World Bone Cement Market?
In 2021, North America will dominate the Bone Cement market over the forecast period because of the rising frequency of osteoporosis, new developments in bone cement, and others. Significantly, an increase in emergency department visits for fracture diagnosis is driving the growth of the bone cement market in North America. In addition, the market is rising as a result of breakthroughs in regenerative medicine. However, the rising global prevalence of hip, knee, and other bone replacement operations is expected to fuel the bone cement market. For instance, according to the Canadian Institute for Health Information (CIHI), hip and knee replacements remain the two most common procedures in Canada, with over 138,000 surgeries performed each year.
The Asia Pacific is anticipated to witness the fastest growth in the bone cement market due to an increase in the prevalence of arthritis and periodontal diseases in emerging markets, including China and India, which has increased demand for dental and orthopaedic surgeries. According to the International Osteoporosis Foundation, a published survey projected that around 8.9 million fractures occur yearly due to osteoporosis. Knee procedures and general prosthesis fixation have also increased in the Asia Pacific. Similarly, the rising incidence of road accidents in Asia is propelling the bone cement market forward in this region. According to the Times of India 2020, traffic accidents in India surged to 1.02 lakh in 2019, up from 97,588 in 2018. The region's frequency of road accidents and incidents is increasing, necessitating emergency services such as fracture treatment.
Segmentation of Global Bone Cement Market-
Global Bone Cement Market – By Type
Polymethyl Methacrylate (PMMA) Cement
Calcium Phosphate Cement (CPC)
Glass Polyalkenoate Cement (GPC)
Others
Global Bone Cement Market - By Application
Arthroplasty
Kyphoplasty
Vertebroplasty
Frequently asked questions about the global Bone Cement industry
The global Bone Cement market is expected to be impacted significantly by COVID-19.
North America accounted for the highest share in the global Bone Cement market in terms of value.
Increasing incidence of periodontitis in young people, an ageing population, and an increased demand for orthopaedic bone cement and casting materials are some of the primary factors driving the global bone cement market.
Polymethyl Methacrylate segment had a major share in 2021 with more than 40% of the market revenue share.
Arthroplasty segment had a major share in 2021 with more than 30% of the market revenue share.
