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Orthopedic Bone Cement and Casting Material Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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    Report

  • 109 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5764488
UP TO OFF until Mar 31st 2024
The orthopedic bone cement and casting material market is expected to register a CAGR of nearly 8.4% over the forecast period.

COVID-19 had a substantial impact on the market for orthopedic bone cement and casting materials. Because of the lockdown situation, there were limitations on mobility and a decline in the number of orthopedic procedures performed globally. Furthermore, during the initial days of the pandemic, the number of road accidents also decreased across the globe. For instance, as per the study published in March 2022, Rensselaer Polytechnic Institute research showed that the number of traffic accidents fell by almost half during the two months at the beginning of the COVID-19 pandemic, when residents of most states were forced to stay at home in the United States. It was also reported that traffic accidents in Louisiana decreased by 47.0%, injuries due to traffic accidents decreased by 46.0%, and ambulance calls for accidents decreased by 41.0% between March and May 2020. However, the post-COVID-19 situation is likely to have huge growth as pending procedures will increase the surgical volume. and the worldwide restrictions have eased.

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 market growth.

According to the statistics of the Arthritis Foundation, in 2021, more than 350 million people worldwide will have arthritis. 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, for instance, arthritis can cause spinal fractures requiring the use of bone cement, thereby driving demand and hence leading to market growth. Moreover, the use of bone cement is believed to increase for surgical purposes, which is expected to augment market growth over the forecast period.

Other factors, such as an increasing geriatric population and several orthopedic injuries, are also expected to drive the orthopedic bone cement and casting material market over the forecast period. According to the World Population Prospects 2022 report, the percentage of the population aged 65 years and over in Sub-Saharan Africa is 3.0 in 2022 and projected to be 3.3 in 2030; in Northern Africa and Western Asia, it is estimated to be 5.5 in 2022 and projected to be 7.0 in 2030; in Central and Southern Asia, it is estimated to be 6.4 in 2022 and projected to be 8.1 in 2030; and in Europe and Northern America, it is 18.7 in 2022 and projected to be 22.0 in 2030. Since the geriatric population is more prone to orthopedic injuries, which require bone cement and casting materials in order to support and strengthen prosthetic joints and broken bones, the growing geriatric population is driving the growth of the market.

Therefore, owing to the aforementioned factors, it is anticipated that the studied market will witness growth over the analysis period. However, the high cost of surgeries and side effects of bone cement are likely to impede market growth.

Orthopedic Bone Cement and Casting Material Market Trends

The 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 by 673% to 3.5 million procedures per year. Thus, the increasing number of orthopedic surgeries requiring cement and casts are expected to boost the growth of the segment over the forecast period.

According to WHO data updated in July 2022, approximately 1.71 billion people worldwide had musculoskeletal conditions 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. Thus, with the increasing number of musculoskeletal disorders, there is an increased demand for polymethyl methacrylate, which is expected to boost the growth of the market segment over the forecast period.

Moreover, as per the United Nations World Population Prospects 2022 data, the share of the global population aged 65 years or older is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12. An increase in the geriatric population, who are more prone to orthopedic disorders, is expected in the coming years, which can ultimately increase the demand for bone cement and casting materials, which are expected to boost the market's growth in the forecast period. ​



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

North America is expected to dominate the market due to the high prevalence of musculoskeletal disorders, the growing geriatric population, the strong presence of industry players in the region, and better healthcare infrastructure.

The increasing cases of knee injuries are one of the major drivers of segment growth. For instance, as per the report published by the Canadian Institute of Health Information in June 2021, knee replacements in Canada are among the top 3 inpatient surgeries that are performed each year.

Moreover, as per the 2021 report of the National Safety Council, for all ages, injuries from bicycles and accessories were 425,910; injuries reported from exercise and exercise equipment were 377,939; and injuries reported from ATVs, mopeds, minibikes, etc. were 229,974. From skateboards, scooters, and hoverboards, 217,646 injuries were reported. This high prevalence of sports-related injuries in the region is expected to boost demand for orthopedic bone cement and lead the market toward growth.

Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North American region.



Orthopedic Bone Cement and Casting Material Market Competitor Analysis

The orthopedic bone cement and casting material 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 & Nephew, Depuy Synthes (Johnson & Johnson), Zimmer Biomet Holdings Inc., and Synimed SARL, among others.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Number of Trauma and Road Accidents Cases
4.2.2 Increasing Number of Orthopedic, Cranial and Spine Surgery Procedures
4.2.3 Rising Prevalence of Osteoporosis
4.3 Market Restraints
4.3.1 High Cost of Orthopedic Surgeries
4.3.2 Side effects of Bone Cements
4.4 Porter's Five Forces 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 By Product Type
5.2.1 Low Viscosity Cements
5.2.2 Medium Viscosity Cements
5.2.3 High Viscosity Cements
5.2.4 Antibiotic Cements
5.3 By End-User
5.3.1 Hospitals
5.3.2 Orthopedic Clinics and Centers
5.3.3 Other End-Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Stryker Corporation
6.1.2 Smith & Nephew
6.1.3 Johnson & Johnson (Depuy Synthes)
6.1.4 Zimmer Biomet Holdings Inc.
6.1.5 Synimed SARL
6.1.6 Subiton LABORATORIOS SL S.A
6.1.7 SCANOS
6.1.8 DJO Global, Inc.
6.1.9 Arthrex Inc.
6.1.10 Tecres Spa
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Stryker Corporation
  • Smith & Nephew
  • Johnson & Johnson (Depuy Synthes)
  • Zimmer Biomet Holdings Inc.
  • Synimed SARL
  • Subiton LABORATORIOS SL S.A
  • SCANOS
  • DJO Global, Inc.
  • Arthrex Inc.
  • Tecres Spa

Methodology

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