Bone Cement Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Polymethyl Methacrylate (PMMA) Cement, Calcium Phosphate Cement (CPC), and Glass Polyalkenoate Cement (GPC)], Application (Arthroplasty, Kyphoplasty, and Vertebroplasty), and End User [Hospitals, Ambulatory Surgery Centers (ASCs), and Clinics]

"The bone cement market is expected to reach US$ 1,626.52 million by 2028 from US$ 1,103.00 million in 2021. It is estimated to grow at a CAGR of 5.7% from 2021 to 2028. The factors responsible for the market's growth are the rising prevalence of osteoporosis, the growing demand for arthroplasty, and the significantly rising elderly population. However, the issues associated with available bone cements and the availability of substitutes are hampering the growth of the bone cement market.

Bone cement is used to fix prostheses to the bone in orthopedic musculoskeletal surgical procedures for osteoporosis, osteoarthritis, rheumatoid arthritis, traumatic arthritis, vascular necrosis, severe joint destruction secondary to trauma, collagen disease, and revision of previous arthroplasty procedures.

Osteoporosis is characterized by low bone density and deterioration of bone tissue. Osteoporosis increases the risk of fractures. In recent years, there have been growing cases of osteoporosis. For instance, according to an article published by Restore Programme in October 2020, each year, osteoporosis causes more than 8.9 million fractures globally, which corresponds to one every three seconds, with one in three women and one in five men over 50 suffering from an osteoporotic fracture.

In addition, according to the International Osteoporosis Foundation, more than 8.9 Million fractures are associated with osteoporosis every year and more than 500 Million people are living with risk of developing Osteoporosis. Moreover, the global incidence of hip fracture is projected to grow by 240% in women and 310% in men by 2050 compared to rates in 1990. It is estimated that more than about 50% of all osteoporotic hip fractures are likely to occur in Asia by 2050. Also, about 300,000 people with age more than 65 years are hospitalized in US every year due to fracture as per the data of Centers for Diseases Control and Prevention.

Furthermore, in the 29 countries of Europe (European Union + Switzerland & UK), the number of new fragility fractures was expected to reach 4.3 million in 2019, with 826,708 hip fractures (19%), 636,705 forearm fractures (15%), 662,544 vertebral fractures (16%), and 2,149,591 other fractures (50% ). Hip fractures accounted for 43% of fracture-related mortality in women, whereas clinical vertebral fractures accounted for 53%, and other fractures accounted for 3% in 2019. The comparable proportions in men were 34%, 65%, and 1%, respectively.

Similarly, between 2019 and 2034, the population aged 50 and up is expected to grow by 11.4%. The population aged 75 and above increased significantly, with 29.6% in women and 42.6% in men.

Further, based on fracture counts determined from age- and sex-specific incidence and population size in 5-year age intervals, the annual number of osteoporotic fractures in the 29 countries of Europe (European Union + Switzerland & UK), is predicted to increase by 1.06 million, from 4.28 million in 2019 to 5.34 million in 2034. The percentage rise throughout the 15 years will vary significantly by country, ranging from a moderate 8% growth (Latvia) to a spectacular 58% growth (Ireland).

Osteoporosis leads to increased occurrence of fractures and procedures of the joint. Hence, the rising prevalence of osteoporosis is boosting the demand and sales of bone cement, contributing to the growth of the bone cement market.

Type Insights 

Based on type, the global bone cement market is segmented into polymethyl methacrylate (PMMA) cement, calcium phosphate cement (CPC), and glass polyalkenoate cement (GPC). In 2020, the polymethyl methacrylate (PMMA) cement segment held the largest share of the market. Moreover, the calcium phosphate cement (CPC) segment market is expected to grow at the highest CAGR during the period from 2021 to 2028. PMMA is a plastic with excellent mechanical properties and minimal toxicity. It is popular for hip-joint transplants because of its inert properties, but it degrades slowly. There is an increasing demand for PMMA bone cement due to the extensive use of PMMA in various orthopedic procedures such as arthroplasty, kyphoplasty, and vertebroplasty.

Application Insights

Based on application, the bone cement market is segmented into arthroplasty, kyphoplasty, and vertebroplasty. The arthroplasty segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the market by 2028. Arthroplasty is performed when medical treatments fall short to relieve the pain and restore the functioning of the joint. Hence, it has been preferred to a large extent in recent years. The surge in demand for arthroplasty is bolstering this segment's market.

End User Insights

Based on end user, the bone cement market is segmented into hospitals, ambulatory surgery centers (ASCs), and clinics. The hospitals segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the market by 2028. The growth of the segments is attributed to the growing number of cases of osteoporosis. Hospitals are the primary healthcare centers where orthopedic surgeries, such as kyphoplasty, arthroplasty, and vertebroplasty are extensively treated, bolstering the growth of bone cement market.

A few major primary and secondary sources referred to while preparing the report on the global bone cement market is the American Academy of Orthopedic Surgeons (AAOS), Canadian Institute for Health Information (CIHI), World Health Organization (WHO), International Osteoporosis Foundation (IOF), by Japanese Orthopedic Association (JOA).