The global orthopedic bone cement market size was estimated at USD 692.8 million in 2016. A growing number of joint replacement surgeries fueled by an ageing 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 are 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.
U.S. orthopedic bone cement market revenue by end-use, 2014 - 2025 (USD Million)
The growing number of physicians is also expected to increase demand for bone cement. Physicians are the actual customers for 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 the orthopedic bone cement manufacturers and in turn, lead to overall market growth. A growing 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 the 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 that is claimed 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 amongst physicians.
On the basis of end-use, the market is segmented as hospitals, Ambulatory Surgical Centers (ASCs), and specialty clinics. The hospital segment emerged as a leading end-use category and accounted for over 47.7% of the total revenue in 2016. Large patient pool catered to by the hospitals and their dominance in the emerging and low-income countries is anticipated to drive demand. These are some of the key factors that can be attributed to its high revenue share in 2016. 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 market is majorly dominated by the hospital segment; however, ASCs segment is expected to be the fastest growing 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 clinic's end-user segment is the second rapidly growing segment followed by hospitals. This segment is anticipated to expand at a CAGR of 6.7% between 2017 and 2025. 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.
Hospital segment is expected to be a dominant segment in the global orthopedic bone cement market throughout the forecast period; however, this segment is expected to witness a decline in its market share over the forecast period. ASCs and specialty clinics segment is anticipated to witness growth over the forecast period due to the abovementioned reasons. Consolidation in the ASC and specialty clinics industry is another factor responsible for the growth of these segments.
Global orthopedic bone cement market revenue, by region, 2016 (%)
North America was the leading bone cement market in 2016, whereas emerging economies such as India, China, and Brazil are anticipated to exhibit strong growth. The increasing population and rising geriatric population are expected to increase demand for these surgeries and in turn, boost revenue growth of the global market.
The U.S. was the leading region in North America during 2016. It is also anticipated that the U.S. will 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.
Asia Pacific market is expected to be the fastest-growing region in the coming few 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 region.
Europe region is anticipated to follow the Asia Pacific region with a CAGR of 5.5% between 2017 and 2025. Growing patient pool due to medical tourism and a strong distribution network of the manufacturers is expected to drive growth in Europe. Favorable healthcare policies can also be attributed to the growing demand over the forecast period.
The market is highly competitive and fairly concentrated, with few top companies accounting for the maximum share of the market in 2016. 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.
Attribute |
Details |
Base year for estimation |
2016 |
Actual estimates/Historical data |
2014 - 2016 |
Forecast period |
2017 - 2025 |
Market representation |
Revenue in USD Million and CAGR from 2017 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
Country scope |
U.S., Canada, Germany, UK, China, India, Brazil, Mexico, South Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
15% free customization scope (equivalent to 5 analysts working days) |
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global orthopedic bone cement market on the basis of end-use and region:
End-use Outlook (Revenue, USD Million, 2014 - 2025)
Hospitals
Ambulatory Surgical Centers (ASCs)
Specialty Clinics
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
The U.S.
Canada
Europe
Germany
UK
Asia Pacific
China
Japan
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
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