Demand for bone glue expected to rise significantly among orthopedic surgeons and hospitals in Europe
There is an increasing adoption of gelatin and bone glue in orthopedic surgeries in Europe and this is expected to boost the demand for gelatin and bone glue in the region over the forecast period. Also, the surging demand for surgical sealants in orthopedics can be attributed to high effectiveness and strong bond strength. Growing usage of bone glue for osteoporotic spine is anticipated to drive the demand for bone glue in the Europe gelatin and bone glue market over the forecast period. In terms of value, the Europe gelatin and bone glue market is estimated to expand from a value of US$ 155.9 Mn in 2015 to a market valuation of US$ 260.5 Mn by 2024 end at a CAGR of 6.0% during the period of assessment.
Europe Gelatin and Bone Glue Market: Drivers and Restraints
The rising prevalence of bone related disorders is the key factor that is significantly responsible for the growth of the Europe gelatin and bone glue market. Also, an increasing number of arthroplasty procedures and increasing demand for newer bone glues and tissue sealants in the region is also fueling the growth of the Europe gelatin and bone glue market over the forecast period. Product line extension and new product innovations are the factors expected to drive the Europe gelatin and bone glue market. The increasing spending on healthcare per capita and cost containment measures to reduce healthcare burden in European countries is also expected to boost the Europe gelatin and bone glue market over the forecast period.
However, complications related to cemented arthroplasty is the major concern which may hamper the demand for gelatin and bone glue products and hence restrain the growth of the Europe gelatin and bone glue market during the forecast period. The approval scenario and limited applications of few wound care products is also likely to hamper revenue growth of the Europe gelatin and bone glue market during the forecast period.
Europe Gelatin and Bone Glue Market Forecast, by Application
Based on application, the Europe gelatin and bone glue market has been segmented into Arthroplasty, Sports Injury, Spine Surgery, Trauma and Others. The Arthroplasty segment dominated the Europe gelatin and bone glue market in terms of revenue in 2015 and the trend is projected to continue throughout the forecast period. Spine Surgery is expected to be the fastest growing segment over the forecast period, owing to increasing prevalence of spinal injuries and bone disorders in Europe. In terms of CAGR, the Sports Injury segment is expected to be the second fastest growing segment over the forecast period.
- Arthroplasty segment is the largest segment in terms of revenue generation
- Spine Surgery and Trauma segments are expected to register high Y-o-Y growth throughout the forecast period as compared to the other segments
- Arthroplasty segment is the most attractive segment, with attractiveness index of 2 over the forecast period
- Revenue from the Arthroplasty segment is anticipated to increase at a CAGR of 6% over 2016–2024, to reach US$ 103.4 Mn by 2024
- Sports Injury segment is anticipated to be the second most lucrative segment in the Europe gelatin and bone glue market with attractiveness index of 1.1 during the forecast period
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Europe Gelatin and Bone Glue Market: Key Player Information and Market Share Analysis
Some of the key players operating in the Europe gelatin and bone glue market include Johnson & Johnson, Baxter International Inc., CryoLife Inc., C.R. Bard Inc., Luna Innovations Incorporated, B. Braun Melsungen AG, Cohera Medical, Inc., Integra LifeSciences Corporation, Tissuemed Ltd., and Chemence Medical, Inc. The abovementioned key players contributed approximately 73.0% revenue share to the Europe gelatin and bone glue market (approximately US$ 113.6 Mn) in 2015. The other market players contributed approximately 27.0% revenue share (approximately US$ 42.0 Mn) in 2015. The key players in the Europe gelatin and bone glue market are emphasizing on specific strategies related to new product development, new product launch, market consolidation initiatives, acquisition, collaborations and strategic partnership activities to strengthen their market position and business expansion in the region. Companies are also focusing on increasing their manufacturing capacity to achieve economies of scale and to serve different markets to improve their geographic foothold in the Europe gelatin and bone glue market.
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