Orthopedic Bone Cement Market Size, Share & Trends Analysis Report By End Use (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), By Region, And Segment Forecasts, 2023 - 2030

Orthopedic Bone Cement Market Trends

The global orthopedic bone cement market size was valued at USD 965.5 million in 2022 and is anticipated to grow at a CAGR of 4.7% from 2023 to 2030. A growing number of joint replacement surgeries fueled by an aging population and rising trauma cases are anticipated to raise demand for orthopedic bone cement. This represents a good opportunity for orthopedic bone cement manufacturers globally. In addition, the increasing number of products launched and industry consolidation is expected to strengthen the market over the forecast period. For instance, in June 2015, Zimmer Holdings, Inc. completed the acquisition of Biomet, which in turn is anticipated to increase revenue consolidation and strengthen the company’s distribution channel.

According to a study published in The Lancet in 2019, 178 million new fracture cases were registered globally, prevalent cases of long-term or acute fracture symptoms were 455 million, and 25.8 million years lived with disability (YLDs).

Physicians are the actual customers of medical devices who decide on the material to be used during surgery. The growing number of physicians is expected to increase the customer pool for orthopedic bone cement manufacturers, leading to overall market growth. An increasing number of orthopedic surgeries are expected to drive demand for the bone cement market. According to independent estimates, the total number of orthopedic surgeries in the U.S. is expected to cross 6 million by 2020. Bone cement is now widely used in joint and fracture repair surgeries instead of traditional devices like wire and screws. The increasing usage of bone cement by physicians is anticipated to boost revenue over the forecast period.

Advancements in end use technology and the introduction of new applications are anticipated to increase demand. For instance, Stryker introduced Simplex bone cement, claiming to undergo less deformation post usage. Manufacturers have also introduced antibiotic-loaded cement that decreases the chances of post-surgical infections, especially in the case of total joint arthroplasty. Advancements in end use technology are expected to increase the adoption of orthopedic bone cement among physicians.  

End Use Insights

On the basis of end use, the market is segmented into hospitals, Ambulatory Surgical Centers (ASCs), and specialty clinics. The hospital segment emerged as a leading end use category, accounting for over 44.7% of the total revenue 2022. The large patient pool catered to by the hospitals and their dominance in emerging and low-income countries is anticipated to drive demand. However, the shifting business trend from hospitals to ASCs & specialty clinics is likely to impede the growth of this segment over the forecast period.

The hospital segment dominated the market; however, the ASCs segment is expected to be the fastest growing at a CAGR of 5.7% over the forecast period owing to the growing number of ASCs in North America and Europe. The trend of growing multispecialty clinics is expected to increase the number of surgeries being performed by ASCs over the forecast period.

The specialty clinics segment is the second rapidly growing segment, followed by hospitals. This segment is anticipated to expand at a CAGR of 5.4% through the forecast period. The number of specialty clinics is expanding rapidly in North America, Europe, and Asia Pacific regions. Countries like India, China, and the U.S. are witnessing a rapid rise in the number of specialty clinics owing to an increasing number of specialized physicians.

Regional Insights

North America was the leading bone cement market in 2022, with a 36.6% share. The increasing geriatric population is expected to increase demand for these surgeries and boost revenue growth of the regional market. The U.S. is likely to hold the largest revenue share over the forecast period owing to the local presence of several key players with an established distribution channel. Favorable reimbursement policies for orthopedic surgical procedures in the U.S. are another factor responsible for the dominance of the U.S. In April 2023, Abyrx Inc. received additional approvals from the Food and Drug Administration (FDA) for MONTAGE Settable, Resorbable Bone Putty for cranial bone cement and bone void filler.

Asia Pacific is expected to be the fastest-growing region, with a 6.2% CAGR in the coming years. This region is anticipated to exhibit enormous growth due to growing medical tourism, increasing per capita income, surging healthcare spending by the government, and raising awareness. China's orthopedic bone cement market is anticipated to be the fastest-growing in the Asia Pacific. In May 2022, Granulab, a subsidiary of KPower, launched Malaysia’s Halal-certified synthetic bone cement PrsteomaxTM, which is calcium phosphate-based.

Europe region is anticipated to grow with a significant CAGR over the forecast period. The growing patient pool due to medical tourism and a strong distribution network of manufacturers is expected to drive growth in Europe. Favorable healthcare policies can also be attributed to the growing demand over the forecast period.

Key Companies & Market Share Insights

The market is fairly concentrated, with a few top companies accounting for the maximum share of the market in 2022. Some of the key participants include Stryker Corporation, Zimmer Biomet, DePuy Synthes, and Smith & Nephew, Inc. Growing investments in R&D activities and expanding applications are expected to be key parameters for maintaining a competitive edge, with frequent partnerships being undertaken as an attempt to diversify end use portfolios and gain market share.

Orthopedic Bone Cement Market Report Scope

Global Orthopedic Bone Cement Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global orthopedic bone cement market based on end use and region:

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • ASC

  • Specialty Clinics

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Norway

    • Denmark

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Afric

    • Saudi Arabia

    • South Africa

    • UAE

    • Kuwait