The latest market report published by Credence Research, Inc. “Bone Cement Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the bone cements market was valued at US$ 611.4 Mn in 2018, expected to grow at a CAGR of 6.3% during the forecast period from 2019 to 2027.
The global bone cement market is growing effectually from 2019 to 2027 accredited to the rise in hip & knee replacement procedures, spinal surgeries, and dental implants on a global scale. The polymethyl methacrylate (PMMA)-based acrylic bone cement is widely utilized globally, generated maximum revenue share globally. The new launch of biomaterials with higher compressive strength in the form of powder and liquid will drive the market growth in the near future. Various other biodegradable calcium phosphate bone cement utilized in minimally invasive surgeries including vertebroplasty and balloon kyphoplasty shows promising growth. For instance, in June 2018, The US FDA has granted 510(k) clearance of Kyphon HV-R bone cement (by Medtronic plc) for fixation of pathological fractures due to osteoporosis or cancer.
Acrylic polymer mainly PMMA dominated the global bone cement market. Additionally, the utilization of polymeric and bioresorbable solutions for the reconstruction of tissue is on a rise. Liquid bone cement expected to show steady growth in the global market, enhancement in monomers; stabilizer and accelerator technology will drive the market growth. Development in bioengineered technology, FDA approval of new bone cement along with vacuum mixers, increasing elderly population with spinal defects, and rising surgical procedures for hip & knee replacement or fractures will drive the overall bone cement market.
In 2018, the U.S. generated maximum revenue share in the bone cement market due to an increase in prevalence for osteoporosis, rising hospital admissions for spinal surgeries, and hip & knee replacement or implantation procedures. Various applications of bone cement in the dental industry will boost the market growth. Factors limiting the market growth include monomer toxicity, nonbiodegradability, leakage of monomer, heat generation during exothermic polymerization, the formation of debris and others. Moreover, the burden of osteoporosis, fractures, the higher medical expense of surgical procedures, complexity in R&D, and unstructured reimbursement scenario are major factors hampering the overall bone cement market globally.
Key Market Movements:
- Globally, the bone cements market is growing at a CAGR of 6.3% for the period from 2019 to 2027
- Rapid technology expansion of biomaterials, and proliferating medical tourism industry will drive the market growth in the Asia Pacific market
- The evident growth factors include increasing spinal surgical procedures globally, FDA approval of new products, increasing geriatric population, and awareness related to top applications in the bone cement industry for enhanced outcomes
- Market limitations include high cost, post-surgery complications, less technology expansion, and usage of bone graft substitutes
- Major players in this vertical are Zimmer Biomet, Stryker Corporation, DePuy Synthes, Cook Medical, DePuy Synthes, Smith & Nephew, Inc., DJO Global, Elite Surgical, Evolutis, Exactech, Inc., Alphatec Spine, Inc., Becton Dickinson, Tecres SpA, Teknimed SA, OsteoRemedies, LLC, Esschem., Inc. and others.
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