The global Orthopedic Bone Cement market size is expected to be worth around US$ 11.1 billion by 2030, according to a new report by Vision Research Reports.
The global Orthopedic Bone Cement market size was valued at US$ 792.8 million in 2020 and is anticipated to grow at a CAGR of X% during forecast period 2021 to 2030.
Growth Factors
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.
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.
Report Highlights
On the basis of end-use, the market is segmented as hospitals, (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 2020. 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 2020. 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.
North America was the leading bone cement market in 2020, 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 2020. 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.
Key Players
Stryker Corporation, Zimmer Biomet, DePuy Synthes, and Smith & Nephew, Inc.
Market Segmentation
End-use Outlook
Hospitals
Ambulatory Surgical Centers (ASCs)
Specialty Clinics
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
UK
Asia Pacific
China
Japan
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
The Orthopedic Bone Cement market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Orthopedic Bone Cement market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Orthopedic Bone Cement market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Orthopedic Bone Cement market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Orthopedic Bone Cement market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Orthopedic Bone Cement capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Orthopedic Bone Cement by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Orthopedic Bone Cement market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Orthopedic Bone Cement market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Orthopedic Bone Cement market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Orthopedic Bone Cement industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Orthopedic Bone Cement market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Orthopedic Bone Cement market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Orthopedic Bone Cement market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Orthopedic Bone Cement market. These factors have benefited the growth of the global market for Orthopedic Bone Cement. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Orthopedic Bone Cement. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Orthopedic Bone Cement are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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