Bone Cement Market Share, Size and Growth Analysis By 2029

The bone cement market is projected to achieve a value of US$ 1,626.52 million by 2028, rising from US$ 1,103.00 million in 2021. This growth represents a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028. Key drivers of this market expansion include the increasing prevalence of osteoporosis, heightened demand for arthroplasty procedures, and a rapidly growing elderly demographic. However, challenges such as complications associated with existing bone cements and the presence of alternative products are hindering the market's progress.

Bone cement plays a crucial role in orthopedic surgeries, particularly in securing prostheses to bone during procedures aimed at treating conditions like osteoporosis, osteoarthritis, rheumatoid arthritis, traumatic arthritis, avascular necrosis, severe joint damage due to trauma, collagen diseases, and revisions of prior arthroplasty surgeries.

Osteoporosis is a condition marked by reduced bone density and the deterioration of bone tissue, significantly increasing the risk of fractures. Recent years have seen a surge in osteoporosis cases. For example, a report from the Restore Programme in October 2020 highlighted that osteoporosis leads to over 8.9 million fractures globally each year, equating to one fracture every three seconds. Notably, one in three women and one in five men over the age of 50 will experience an osteoporotic fracture.

According to the International Osteoporosis Foundation, more than 500 million individuals are at risk of developing osteoporosis, with annual fractures exceeding 8.9 million. Projections indicate that the global incidence of hip fractures will rise by 240% in women and 310% in men by 2050 compared to 1990 levels. It is estimated that over half of all osteoporotic hip fractures will occur in Asia by 2050. In the United States, approximately 300,000 individuals aged 65 and older are hospitalized each year due to fractures, as reported by the Centers for Disease Control and Prevention.

In Europe, specifically across 29 countries (including the European Union, Switzerland, and the UK), the number of new fragility fractures was anticipated to reach 4.3 million in 2019. This figure included 826,708 hip fractures (19%), 636,705 forearm fractures (15%), 662,544 vertebral fractures (16%), and 2,149,591 other fractures (50%). Hip fractures were responsible for 43% of fracture-related mortality in women, while clinical vertebral fractures accounted for 53% and other fractures for 3% in 2019. In men, these proportions were 34%, 65%, and 1%, respectively.

Between 2019 and 2034, the population aged 50 and older is expected to grow by 11.4%, with a significant increase in those aged 75 and above?29.6% for women and 42.6% for men. Based on fracture counts derived from age- and sex-specific incidence rates, the annual number of osteoporotic fractures in these 29 European countries is projected to rise by 1.06 million, from 4.28 million in 2019 to 5.34 million by 2034. The growth rate will vary by country, with increases ranging from 8% in Latvia to an impressive 58% in Ireland.

The rising incidence of osteoporosis leads to a higher frequency of fractures and joint procedures, thereby driving the demand for bone cement and contributing to the market's growth.

Type Insights

The global bone cement market is categorized by type into polymethyl methacrylate (PMMA) cement, calcium phosphate cement (CPC), and glass polyalkenoate cement (GPC). In 2020, the PMMA cement segment dominated the market. Furthermore, the CPC segment is anticipated to experience the highest CAGR from 2021 to 2028. PMMA is a plastic known for its excellent mechanical properties and low toxicity, making it a preferred choice for hip joint replacements due to its inert nature, despite its slow degradation rate. The demand for PMMA bone cement is on the rise due to its extensive application in various orthopedic procedures, including arthroplasty, kyphoplasty, and vertebroplasty.

Application Insights

In terms of application, the bone cement market is divided into arthroplasty, kyphoplasty, and vertebroplasty. The arthroplasty segment held the largest market share in 2020 and is expected to maintain this position through 2028. Arthroplasty is typically performed when conservative medical treatments fail to alleviate pain and restore joint function, leading to its increased preference in recent years. The rising demand for arthroplasty is significantly enhancing the market for this segment.

End User Insights

From the perspective of end users, the bone cement market is segmented into hospitals, ambulatory surgery centers (ASCs), and clinics. The hospital segment accounted for the largest market share in 2020 and is projected to continue leading the market by 2028. This growth is primarily driven by the increasing number of osteoporosis cases, as hospitals serve as the main healthcare facilities for orthopedic surgeries such as kyphoplasty, arthroplasty, and vertebroplasty, thereby propelling the demand for bone cement.

Key sources referenced in the preparation of this report on the global bone cement market include the American Academy of Orthopedic Surgeons (AAOS), Canadian Institute for Health Information (CIHI), World Health Organization (WHO), International Osteoporosis Foundation (IOF), and the Japanese Orthopedic Association (JOA).