Bone Cement Market to Accelerate at a Rapid CAGR of 5.7% by 2025

The global bone cement market accounted to US$ 927.3 Mn in 2017 and is expected to grow at a CAGR of 5.4% during the forecast period 2018 - 2025, to account to US$ 1,414.1 Mn by 2025.

The key players operating in the bone cement market worldwide include DePuy Synthes, Zimmer Biomet, Stryker, Smith & Nephew, DJO Global, Arthrex, Inc., Tecres SpA, Heraeus Holding, and Teknimed, OsteoRemedies, LLC among others.

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The market for bone cement is well established in the North American region, owing to the rising number of orthopedic surgeries and advancement in the technological developments of bone cements. In addition, the prominent players in the market are primarily focusing on expanding their customer base in North America.

However, in Asia Pacific, India is expected to be the fastest growing market due to the rising popularity of medical tourism for orthopedic procedures and the availability of skilled medical professionals. Moreover, increasing geriatric population in this country associated with the increasing surgical procedure for joint replacements is expected to enhance the market growth in the coming years. Around 70,000 knee and hip replacement procedures are being performed every year in India.

Increasing number of orthopedic surgeries is driving the market for bone cement over the forecast period.

The global bone cement market is a mature market in the developing countries as well as in developing economies worldwide. Increasing prevalence of osteoporosis, growing demand for arthroplasty procedures, and rapid growth in the geriatric population are the major factors fuelling the growth of this market. The incidences of osteoporosis has been increased significantly in the young as well as the aged population. For instance, according to a survey conducted by International Osteoporosis Foundation, around 15-30% male and 30-50% females are at a risk of suffering from osteoporotic fracture during their lifetime. This is expected to drive the growth bone cement worldwide.

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Strategic Insights

Approvals and agreements were observed as the most adopted strategy in global bone cement industry. Few of the recent product launch and collaboration and others are listed below;

2018: In January, 2018, Heraeus Medical made bone cement direct available in the United States. This move provides an opportunity for the surgeons in US to offer better service to the patients.

2018: In February, 2018, Heraeus Medical introduced innovations to its existing PALACOS product portfolio. The innovation includes, medium viscosity bone cement PALACOS MV variations, along with two mixing systems, PALAMIX and PALABOWL. The enhancement of product has helped the company to strengthen its product offering.

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This release was published on openPR.