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Orthopedic Bone Cement and Casting Materials Market - Industry Analysis, Size, Share, Growth, Trends and Forecast to 2024

Press Release   •   Aug 09, 2017 06:49 EDT

Orthopedic bone cement is made from polymethyl methacrylate (PMMA) and is used in implant fixation post orthopedic surgery. It is called cement as it holds the implant and the bone together by creating tight space. There are different types of bone cements such as calcium phosphate cements and glass polyalkenoate cements that are used in orthopedic surgeries. Cast is used to hold the bones in place post-injury as well as provide superior immobilization after orthopedic surgery. Casts are made from two types of casting materials namely plaster and fiberglass, with cotton and other synthetic materials used to instill soft padding to the bones. There has been a growing demand for orthopedic bone cement and casting materials, especially among the geriatric population as they are prone to developing bone fractures. Furthermore, there has been an increase in the incidence of joint fractures due to the rise in prevalence of obesity which puts immense pressure on knee joints.

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Increasing aging population and growing prevalence of bone fractures will drive growth of the market

Healthcare institutions across the world are facing the increasing burden of aging population and as per the statistics provided by World Health Organization, the global population aged 85 years or more will increase by 351% in the following 40 years. Osteoporosis International Journal estimated that 158 million people aged 50 years or above are highly prone to developing bone fractures. The research further stated that the prevalence could double by 2040. The high incidence of osteoporosis globally has been a major driving factor for orthopedic bone cement and casting materials market. The most critical site for fractures is known to be forearm with 1.7 million people developing fractures at the site. As per International Osteoporosis Foundation, an estimated 8.9 million fractures occur every year, which are attributed to osteoporosis and the disease affects more than 75 million people in Europe, U.S. and Japan. The orthopedic bone cement and casting materials market is projected to grow significantly as the prevalence of bone fractures increases across developed and emerging countries.

Orthopedic bone cement and casting materials market is forecast to witness highest growth in the Asia pacific region

North America and Europe represent major regions in the global orthopedic bone cement and casting materials market. In the U.S., an estimated 1.5 million people are affected by fractures every year. As per CDC report, an estimated 3.5 - 4.4 million people visit emergency department every year for diagnosing fractures. The healthcare costs associated with the treatment of osteoporotic fractures is US$ 17 million to US$ 20 billion on an annual basis. Europe is facing the burden of geriatric population and associated joint fractures. Osteoporotic bone fractures create a disease burden of more than 1.75% on the European Healthcare system. Additionally, the rise in incidence of obesity across North America and Europe is adding to the existing cases of fractures which has made positive impact on the orthopedic bone cement and casting materials market.

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Asia Pacific region is anticipated to witness highest growth in the global market. China and India are home to large patient pool with China estimated to witness an increase as significant percentage of total population shifts to the geriatric population bracket. India is an untapped opportunity for key companies with a patient pool of 26 million in 2010. The development in healthcare infrastructure and a large underserved patient pool will drive the market for orthopedic bone cement and casting materials in Asia pacific region.

Inorganic growth a major focus area for key players in the market

The key players in the orthopedic bone cement and casting materials market are Zimmer Biomet, Stryker Corporation, Smith & Nephew plc, DePuy Synthes, 3M Healthcare and BSN Medical GmbH, among others. The top 5 companies represent the dominant market share, making the market highly consolidated. The key companies are adopting strategies such as geographic expansion, merger & acquisitions and product launch to extend their presence and stay ahead of the competitors.

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