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The bone cement market is estimated to decline at a CAGR of 5.31% between 2022 and 2027. The size of the market is forecast to increase by USD 449.08 million. The growth of the market depends on several factors, including the growing prevalence of orthopedic disorders due to the rise in trauma cases, the growing adoption of minimally invasive techniques, and the increasing use of bone cement in interventional procedures.
This report extensively covers market segmentation by product (antibiotic-loaded bone cement and non-antibiotic-loaded bone cement), end-user (hospitals, clinics, and ambulatory surgery centers), and geography (North America, Europe, Asia, and Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global bone cement market as a part of the global healthcare supplies market that primarily covers manufacturers of medical products, including all categories of supplies, such as consumables and disposables, including safety needles, syringes, and catheters. The parent global healthcare supplies market covers products and companies engaged in R&D of a variety of product categories spanned across medical consumables that are used for the diagnosis and treatment of various diseases. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing use of bone cement in interventional procedures is notably driving the market growth, although factors such as high entry barriers for new players may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Bone Cement Market Driver
The increasing use of bone cement in interventional procedures is notably driving market growth. There has been a growing demand for bone cement in interventional procedures. Vendors are focusing on developing bone cement specifically for interventional procedures due to the growing number of interventional procedures in emerging economies.
For instance, Stryker offers SpinePlex, VertaPlex, and VertaPlex HV bone cement for various interventional procedures. TEKNIMED offers Spinefix and SpineFix US bone cement, which are radiopaque. They are low-viscosity bone cement used for vertebroplasty and kyphoplasty. The relatively long setting time of this cement gives the surgeon enough time to inject it safely into the vertebral body. Also, the company provides High V+ cement radiopaque bone cement with antibiotic-loaded additives for reducing infection rates. The cement contains a large quantity of a radiopaque agent (9% hydroxyapatite (HAP)and 27% BaSO4), allowing perfect visualization, an essential feature during percutaneous vertebroplasty and kyphoplasty procedures. Such products are increasing the use of bone cement in interventional procedures, thereby increasing the demand for the product during the forecast period.
Significant Bone Cement Market Trend
The growing adoption of bone cement in dentistry and trauma is an emerging trend in the market. There has been a growing adoption of bone cement in dentistry owing to the increasing number of trauma cases. In many trauma cases, dental implants are required for restoration. However, the most important factor for dental implant success is bone osseointegration. Individuals with compromised healing experience increased dental implant failure as compared with healthy patients. Therefore, researchers at the University of Minnesota, US, developed a high-quality dental bone cement that can be used for unstable dental implants. This product is a non-resorbable dental bone cement made of Portland cement.
Furthermore, the cement has improved biocompatibility, better melding capacity, and quick set-up, and is not easily washed away by blood. This makes it highly useful in offering initial stability to the dental implant. The created bone cement also has a high tensile strength, which makes it suitable for stress-bearing areas. The cement is also easy to use and has a small particulate size to penetrate into the trabecular bone. Such initiatives are expected to fuel market growth during the forecast period.
Major Bone Cement Market Challenge
The high entry barriers for new players are major challenges impeding the market. It is difficult for smaller companies to come up with an innovative product to infiltrate the market due to the presence of the bigger players already dominating the market. Moreover, the switching cost for the buyer and the trust in popular companies play a significant role in the market scenario. Also, these bigger companies have large distribution channels and contracts with all the major leading hospitals and health centers, which poses a big challenge for newer companies to penetrate the market. Therefore, customers show resistance toward the adoption of newer products.
Smaller companies have limited resources and funding, with no major collaborators. Hence, getting a minimum share of the market is always a challenge for them. The smaller set-ups face major challenges with regulatory approvals. With fewer products in the line, if approvals get delayed every time, it comes as a major drawback since product launch delays will have an impact on their revenues. This factor poses a negative impact on the global market during the forecast period.
Key Bone Cement Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Bone Cement Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AAP Implantate AG - The company operates under one segment. The company under this segment focuses on developing, manufacturing, and marketing products for medical trauma, anatomical plating system, and a wide range of cannulated screws. The key offerings of the company include bone cement.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the antibiotic-loaded bone cement segment will be significant during the forecast period. Bone cement can release antibiotic molecules if any antibiotic is included in it, and this elution property improves as cement porosity is increased. PMMA, combined with antibiotics, provides a simple and efficient way to treat infection and osteomyelitis locally.
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The antibiotic-loaded bone cement segment was valued at USD 915.06 million in 2017 and continued to grow until 2021. The use of antibiotic-loaded bone cement is increasing due to the growing need for reducing infection-related issues such as complex musculoskeletal infections during joint arthroplasties, orthopedic surgeries, and prophylaxes in total joint replacement. Infection in orthopedic surgery is a serious issue. The addition of antibiotics is considered a support strategy for preventing infections caused by bacterial adhesion to a biomaterial, which is used for orthopedic surgeries. Hence, the global antibiotic-loaded bone cement market is expected to grow at a faster rate than the non-antibiotic bone cement market owing to its increased advantages and growing awareness levels among end-users. Furthermore, manufacturers are focusing on the development of antibiotic-loaded bone cement materials to gain a competitive edge in the market. Therefore, factors are expected to increase the demand for antibiotic-loaded product during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America accounted for a major share of the global bone cement market, with the US being the major revenue contributor. The high share of the market is due to the widespread adoption of minimally invasive techniques such as joint reconstruction, fusion procedures, and fractures. The market is also driven by the growing prevalence of orthopedic disorders and the increased number of orthopedic-related surgeries. Considering the increase in the number of patients, well-established companies from the region focus on the development of highly biocompatible bone cement. Moreover, most leading vendors have set their headquarters in the US, which helps them focus and market their products in this region.
Furthermore, the market in North America is driven by the improved quality of materials. The market is also driven by the growing requirement for interventional procedures such as vertebroplasty and kyphoplasty. Additionally, countries such as the US and Canada have advanced infrastructure-based medical facilities, which increase the manufacturing capabilities for the development of advanced bone cement. All these factors, along with the increased focus on the healthcare industry on improving patient safety and procedure efficiency, will boost the growth of the market in North America during the forecast period.
The severe outbreak of COVID-19 in 2020 affected healthcare industries in the region. Most government incentives and funds were focused on COVID-19 treatment. This affected the other healthcare segments. However, in 2021 the region witnessed a decline in the number of COVID-19 cases with the availability and administration of COVID-19 vaccines. With the decreasing number of COVID-19 cases and the resumption of clinical procedures, the market has been witnessing growth since 2021. As a result, the operations of end-user industries are expected to be stabilized during the forecast period, which is expected to translate to the gradual growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Antibiotic-loaded bone cement and Non-antibiotic loaded bone cement), End-user (Hospitals, Clinics, and Ambulatory surgery centers), and Geography (North America, Europe, Asia, and Rest of World (ROW)).
Bone Cement Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Decelerate at a CAGR of 5.31% |
Market growth 2023-2027 |
USD 449.08 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, Germany, UK, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
aap Implantate AG, Alphatec Holdings Inc., Colfax Corp., EVOLUTIS SAS, Exactech Inc., G21 Srl, Globus Medical Inc., Heraeus Holding GmbH, Johnson and Johnson, Kyeron, Medacta International SA, Medtronic Plc, Merit Medical Systems Inc., Olympus Corp., Smith and Nephew plc, Stryker Corp., Synimed Synergie Ingenierie Medicale SARL, Tecres Spa, TEKNIMED, and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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