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(Construction.IndustryNews247.Com, August 28, 2018 ) Bone Cement Market Outlook to 2025 - DePuy Synthes, Zimmer Biomet, Stryker, Smith & Nephew, DJO Global, Arthrex, Inc., Tecres, Heraeus Holding, and Teknimed, Osteopoeriss LLC
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Bone Cement is used in fixation of implants in trauma, dental, and orthopedic surgeries. Some of the most frequently used bone cements include, polymethyl methacrylate (PMMA) cement, calcium phosphate cement (CPC), and glass polyalkenoate cement (GPC). These bone cements are primarily used to uphold osseous reconstructions, bone formations, and bone healing.
Rise in number of accidents across the globe, increase in trauma & plastic surgeries, rising inclination towards minimally invasive surgeries are the major drivers which are likely to boost the growth of bone cement market. Escalating technological advancements & healthcare spending and improving healthcare infrastructure are likely to add new opportunities for this market in the coming years.
The bone cement market is estimated to grow at a CAGR of 5.4% during the forecast period from 2018 to 2025. The market for bone cement is projected to reach US$ 1,414.1 Mn in 2025. The market is witnessing a potential growth rate during the past few years and is expected to witness similar trend in the coming years. Factors such as, increasing prevalence of osteoporosis, growing demand for arthroplasty procedures, and growing geriatric population are primarily contributing to the growth of this market. Additionally, major manufacturers in the market are engaged in research and development activities to develop advanced products. Furthermore, rise in umber of osteoporosis cases and increase in number of bone disease cases are expected to boost the demand for bone cement in the coming years. 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. Moreover, according to the International Osteoporosis Foundation, approximately one out of five men and one in every three women over the age of 50 would suffer from a fracture owing to osteoporosis. This is expected to stimulate the demand of bone cement market in the coming years. However, availability of substitutes can hamper the growth of this market at a certain extent.
The market for bone cement is well established in North America region, especially in the US and Canada. The market in Asia Pacific is expected to witness significant growth during the forecast period owing to the increasing number of surgical procedures in hospitals & ambulatory surgical centers and progressive growth of medical device industry. Moreover, rising geriatric population majorly in India and China is stimulating the growth of this market in this region. According to the International Osteoporosis Foundation, on an average almost 70 million Chinese above 50 years of age suffer from osteoporosis in a year. This leads to almost 687,000 fractures per year in China, hence such pool of patient population is expected to drive the growth of the bone cement market.
The major players operating in the bone cement market include DePuy Synthes, Zimmer Biomet, Stryker, Smith & Nephew, DJO Global, Arthrex, Inc., Tecres, Heraeus Holding, and Teknimed, Osteopoeriss LLC among others.
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