Press release
Asia Pacific Bone Cement Market Size To Grow At A CAGR Of 6.60% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Asia Pacific Bone Cement Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 206.33 million
• Forecast CAGR (2023-2028): 6.60%
• Forecast Market Size (2028): USD 302.3 million
The growing geriatric population across emerging economies such as India, China, and Japan, and the rise in associated skeletal disorders are fuelling the demand for bone cement across hospitals and ambulatory surgical centres. In addition, the increasing prevalence of accidents, injuries, fractures, and osteoporosis among the working population is further bolstering the Asia Pacific bone cement market.
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Strong presence of manufacturers of polymethyl methacrylate in the region are leading to a bolstered supply chain. Additionally, the rising healthcare expenditure, advancements in hospital infrastructure, and favourable policies of governments in the Asia Pacific supporting orthopaedic standards are further improving the market dynamics.
The increasing awareness regarding healthcare among active and working adults are escalating hospitalisation rates to normalise bone functioning, resulting in a greater demand and usage of bone cement in treating orthopaedic conditions. Furthermore, the rising disposable incomes, increasing living standards, and rapid development of healthcare infrastructure across the region are expected to bolster the Asia Pacific bone cement market in the forecast period.
Asia Pacific Bone Cement Industry Definition and Major Segments
Bone cement is defined as a biomaterial substance which is used in medical applications as a filler in artificial joints and to treat bone-related injuries such as fracture. Bone cement is in the form of a paste which is upon drying becomes rigid and provides stability, particularly to artificial joints, aiding in recovery.
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On the basis of product, the market is segmented into:
• Calcium Phosphate Cement (CPC)
• Glass Polyalkenoate Cement
• Polymethyl Methacrylate (PMMA) Cement
Based on application, the market is categorised into:
• Kyphoplasty
• Arthroplasty
• Vertebroplasty
By end use, the market is divided into:
• Hospitals
• Ambulatory Surgical Centres
• Clinics
On the basis of country, the market is categorised into:
• China
• Japan
• India
• ASEAN
• South Korea
• Australia
• Others
Asia Pacific Bone Cement Market Trends
The key trends in the Asia Pacific bone cement market include the growing efforts by the governments in the region aimed towards improving the accessibility of healthcare facilities in rural and semi-urban areas. Additionally, the rising standards of emergency services and trauma treatment facilities are further heightening the growth of the market.
Growing research and innovation activities by medical manufacturing giants, aimed towards increasing the quality of bone cement products and accessories are crucial trends in the bone cement market in the Asia Pacific. Meanwhile, an increasing emphasis on developing minimally invasive orthopaedic and injury treatment procedures is being witnessed in the region.
Technological advancements in healthcare units, supported by the penetration of internet of things (IoT), artificial intelligence, and machine learning are improving the quality of treatment of chronic injuries to facilitate faster recovery. Furthermore, the increasing accessibility to newer, faster, and advanced technologies are expected to aid the Asia Pacific bone cement market growth in the coming years. The increasing awareness about arthroplasty procedures, owing to the faster recovery and enhanced relief from trauma, is likely to be another key trend in the market.
Key Market Players
The major players in the Asia Pacific bone cement market report are:
• Johnson & Johnson MedTech (Depuy Synthes)
• Stryker Corporation
• Zimmer Biomet Holdings, Inc
• Smith & Nephew plc
• Medtronic plc
• Laboratorios SL S.A.
• Heraeus Group
• Teknimed
• Leader Biomedical
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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