Orthopedic Bone Cement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Orthopedic Bone Cement Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Orthopedic Bone Cement Market is expected to register a CAGR of nearly 8.4% over the forecast period (2022-2027). Orthopedic bone cement helps to support and strengthen prosthetic joints and broken bones.

In 2020, due to COVID-19-associated lockdowns worldwide, private and public transport was stopped, which reduced road accidents and associated injuries. According to the research published in August 2020, titled "Impact of COVID-19 on orthopedic surgery: Experience from Saudi Arabia," orthopedic residency training has been adversely affected by the COVID-19 pandemic. Additionally, the inevitable pausing of all elective surgeries has limited hands-on practice and exposure to several procedures. However, orthopedic oncology is one of the departments which were least affected by COVID-19 as the services related to orthopedic oncology were being provided by healthcare facilities across all countries. Similarly, trauma surgery was also being continued but at a much slower rate. Hence, it is observed that COVID-19 had a significant impact on the orthopedic bone cement market.

The growing burden of orthopedic disorders and the growing incidence of trauma and accident cases are contributing to a rise in the number of orthopedic procedures globally. In addition, the rising aging population is expected to increase the procedural count, driving the market growth.

According to the statistics of the Arthritis Foundation, in 2021, more than 350 million people had arthritis globally. While in 2020, an estimated 30.8 million adults were found to be suffering from arthritis, and 14 million individuals in the United States were observed to be suffering from symptomatic knee osteoarthritis. By 2050, the number of adults in the United States with doctor-diagnosed osteoarthritis is projected to increase by 49% to 78.4 million. The same source as above has stated that the number of adults reporting activity limitations due to arthritis will increase by 52%, to 34.6 million by 2040. With the increasing number of orthopedic diseases, the use of bone cement is believed to increase for surgery purposes which are expected to augment the market growth over the forecast period.

Key Market TrendsThe Polymethyl Methacrylate, is Expected to Witness Healthy Growth Over the Forecast Period

Polymethylmethacrylate is one of the most enduring materials in orthopedic surgery. It has a central role in the success of total joint replacement and is also used in newer techniques such as percutaneous vertebroplasty and kyphoplasty. During hip replacement surgery, bioinert polymethylmethacrylate (PMMA) bone cement is the most common method for quickly fixing the orthopedic implant.

The increasing number of orthopedic surgeries is anticipated to boost segment growth. According to the American Academy of Orthopedic Surgeons, by 2030 total knee transplant surgeries are projected to grow 673% to 3.5 million procedures per year. Some of the major players that are offering bone cement specific to cranial and spinal surgeries are Stryker Corporation, Depuy Synthes, and Zimmer Biomet amongst others.

According to the World Health Organization (WHO), approximately 1.71 billion people had musculoskeletal conditions worldwide in 2021. Among musculoskeletal disorders, low back pain causes the highest burden, with a prevalence of 568 million people. Musculoskeletal conditions are the leading contributor to disabilities worldwide, with low back pain being the single leading cause in 160 countries. As per the United Nations World Population Prospects 2019 data, the geriatric population (65 years and more) increased from 2015 - 2020 to 90.7 million from 73.5 million. An increase in the geriatric population, who are more prone to orthopedic disorders, is expected in the coming years, which can ultimately increase the market's growth in the forecast period. ​

North America Dominates the Market and Expected to Follow the Similar Trend Over the Forecast Period

The key factors driving the growth of the market in the region include the direct presence of key regional players, strong distribution network, and well-established healthcare infrastructure. Additionally, an increasing number of accidents and trauma cases in the region and the prevalence of acquired or congenital deformities of the face and skull are also expected to drive the market for bone cement. According to The National Spinal Cord Injury 2020 estimates, the annual incidence of spinal cord injury (SCI) is approximately 54 cases per one million people in the United States, or about 17,810 new SCI cases each year. The increasing patient pool and well-established healthcare segments drive the market growth in the region.

Competitive Landscape

The global orthopedic bone cement market is moderately competitive with several major players. Key companies in the market are implementing growth strategies such as agreements, collaborative models, business expansion, and product developments. Some of the major companies in orthopedic bone cement include Stryker Corporation, Smith and Nephew, Depuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings Inc., Synimed SARL, among others.

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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Number of Trauma and Road Accidents Cases
4.2.2 Increasing Number Orthopedic and Cranial and Spine Surgery Procedures
4.3 Market Restraints
4.3.1 High Cost of Surgeries
4.3.2 Side effects of Bone Cements
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size - Value in USD million)
5.1 By Material
5.1.1 Polymethyl Methacrylate (PMMA)
5.1.2 Ceramic
5.1.3 Acrylic
5.1.4 Other Materials
5.2 Geography
5.2.1 North America United States Canada Mexico
5.2.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.2.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.2.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.2.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Stryker Corporation
6.1.2 Smith & Nephew
6.1.3 Depuy Synthes (Johnson & Johnson)
6.1.4 Zimmer Biomet Holdings Inc.
6.1.5 Synimed SARL
6.1.7 SCANOS
6.1.8 DJO Global, Inc.

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