The bone cement market size is projected to reach US$ 1.92 billion by 2031 from US$ 1.23 billion in 2023. The market is expected to register a CAGR of 5.70% during 2023–2031. Antibiotic-loaded bone cement is likely to remain a key trend in the market.
The competition between current suppliers will strengthen due to the increased focus on developing bone cement with superior features, high quality, and safety, such as antibiotic-loaded bone cement for arthroplasty and orthopedic joint fixations. Furthermore, the market is expanding because of the growing acceptance of procedures like kyphoplasty, arthroplasty, and vertebroplasty, which should significantly boost market growth. Additionally, the market is expected to expand due to the rising need for orthopedic bone cement and casting materials, particularly among older people.
The high frequency of osteoporosis, the rising need for kyphoplasty, arthroplasty, and vertebroplasty, and the sharply increasing aging population all contribute to the market's expansion. Furthermore, the companies have facilitated their growth through various inorganic and organic development initiatives. Companies have been using various organic strategies to expand their businesses, such as product launches. Businesses have used inorganic tactics such as partnerships, mergers, and acquisitions.
The risk of fractures is increased by osteoporosis. Osteoporosis cases have increased in the last few years. For instance, the International Osteoporosis Foundation states that almost one in two of the women surveyed had experienced an osteoporosis-related fracture, making these fractures a severe health concern, and approximately four million people in the UK have osteoporosis.
Increases in kyphoplasty, arthroplasty, and vertebroplasty surgeries are anticipated to increase bone cement sales. Prominent industry participants augment their manufacturing capabilities and broaden their distribution networks to enhance their market share in developing economies. For significant bone producers of cement, emerging markets in South Korea, Mexico, Brazil, and India are anticipated to present growth prospects. The aging population, high osteoporosis prevalence, rising disposable income, better healthcare systems, and the expansion of medical tourism in these nations create lucrative opportunities. Asia Pacific has developed into a hub that is flexible and friendly to business. Most participants are turning their attention to emerging markets as the US and European markets mature. Upgrading the newest technologies in emerging nations largely depends on significant health and life sciences research investments. This, in turn, reinforces the propensity to use bone cement.
Key segments that contributed to the derivation of the bone cement market analysis are type, application, and end user.
The geographic scope of the bone cement market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The market for bone cement in the US holds the largest share among the countries of North America. The growing incidence of osteoporosis is the main factor propelling this market's expansion. Numerous partnerships and joint ventures aimed at growing the US market for bone cement have been reported in recent years. For example, the Kyphon Products Division, a division of Medtronic's Spinal and Biologics business, has achieved a significant milestone by introducing KYPHON ActivOs 10 Bone Cement with Hydroxyapatite in the US market. With the release of this product, Medtronic's cement portfolio now gives surgeons an alternative for treating patients with vertebral compression fractures (VCFs). Therefore, the US's recent introduction of the bone cement market will probably help the nation's growth.
Numerous Canadian businesses are implementing diverse approaches to expand the bone cement industry. The market players have implemented various sustainable strategies, including product launches, geographic expansion, mergers and acquisitions, and strategic collaboration. Stryker, for example, introduced simplex Bone Cement to fix implants in various orthopedic and trauma surgeries.
The regional trends and factors influencing the Bone Cement Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Bone Cement Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.23 Billion |
| Market Size by 2031 | US$ 1.92 Billion |
| Global CAGR (2023 - 2031) | 5.70% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Bone Cement Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Bone Cement Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The bone cement market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the bone cement market are listed below:
The “Bone Cement Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the bone cement market in 2023
Key factors driving the market are the rising prevalence of osteoporosis, which leads to an increase in arthroplasty, kyphoplasty, and vertebroplasty procedures and growing demand for arthroplasty procedures.
Growing emphasis on adopting novel drug delivery systems is likely to remain a key trend in the market.
Zimmer Biomet, DePuy Synthes, Smith & Nephew, DJO Global, Inc, Arthrex, Inc, Tecres S.p.A, Heraeus Holding GmbH, Cardinal Health Inc., Teknimed, Stryker Corporation
The market is expected to register a CAGR of 5.7% during 2023–2031.