The Global Orthopedic Bone Cement Market is expected to reach USD 1.1 billion by 2025, according to a new report by Hexa Reports. Growing number of orthopedic surgeries is one of the key factors expected to drive revenue growth in coming few years.
Orthopedic bone cement helps support and anchor artificial joints and fractured bones. It works by filling the empty space between the bone and an implant, which anchors the joint. This in turn provides stability and elasticity to the joints. Bone cement was introduced in 1940s and has been widely used by physicians since then. The increasing number of orthopedic surgeries globally is expected to boost demand for the cement in near future. As per Australian Society of Orthopedic Surgeons, the number of musculoskeletal surgeries had increased by 18% between 2007 and 2011 and is expected to witness continuous growth, which in turn is expected to create growth opportunity for the manufacturers.
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Ageing population is another important factor responsible for increasing demand for bone cement. Old people are more susceptible to fractures and associated injury and often require joint replacement surgery. This cement provides a better alternative to screws and wires, which can create discomfort to the patients. According to a United Nations report in 2015, the population of people aged 60 years and above is projected to grow by 56% and is expected to reach 1.4 billion by 2030. This in turn is expected to bolster the patient pool for joint replacement surgeries and in turn propel revenue growth for bone cement market over the forecast period.
Further key findings from the report suggest:
- The Global Orthopedic Bone Cement Market size was estimated at USD 692.8 million in 2016 and is expected to grow at a CAGR of 5.9% from 2017 to 2025
- Hospital emerged as the largest end-use segment in 2015 and is estimated to generate revenue over USD 501.2 million by 2025
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- Ambulatory surgical centers segment was USD 150.2 million in 2016 and is anticipated to witness fastest growth over the next 9 years
- The Asia Pacific region is projected to witness substantial growth over the next decade owing to various developments across major economies in the region. This regional market is expected to grow at a CAGR of 6.7% from 2017 to 2025
- Some of the key players including Stryker Corporation; Zimmer Biomet; DePuy Synthes; and Smith & Nephew, Inc. dominated the global market.
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