According to FutureWise analysis the market for orthopedic bone cement is expected to register a CAGR of 8.60% from 2023-2031.
Polymethylmethacrylate, or commonly known as bone cement, is primarily used for fixing implants in various dental, orthopaedic and trauma surgeries. There is an absence of intrinsic adhesive properties, however, it relies closely on the interlocking between the prosthesis and the irregular bone surface which is mechanical. Bone cement is commercially available as Glass Polyalkenoate (ionomer) cement (GPC) and Calcium Phosphate Cement (CPC). CPC is biocompatible and bioabsorbable and is primarily used in maxillofacial and cranial surgeries due to its low mechanical strength. There has evolution in the usage of bone cement over the past century. In order to prevent adverse effects that are associated with its surgical use, research and development is extensively performed so that such situations like these don’t occur in the future.
Bone cement is paramount importance in joint replacement surgeries and it is a golden standard for better management. It is fuelled by the rising prevalence of arthritis and osteoporosis among the geriatric population. According to the Arthritis Foundation, arthritis affects 54 million of America and it is the leading cause of disability. It is estimated that arthritis is going to affect 78 million by 2040 in the US. Because of the rising burden, the healthcare system is more focused on joint replacements. Along with this, rising awareness of prosthesis is expected to boost growth. Orthopedic prosthesis is one of the best methods for arthritis management compared to pharmacological therapies and it is proven effective over the alternative methods. Further, the increasing importance of quality of life and life expectancy led to the robust growth of the market.
The Asia Pacific is a major shareholder in the global market due to the high adoption of bone cement and high prevalence among the general population. It is majorly dominated China and India due to large group patient population. The Asia Pacific is majorly dominated by domestic manufacturers. It is followed by North America and Europe regions due to high dollar opportunity. They are expected to remain the same throughout the forecast period. Latin America represented a fast growing region in the global population due to high prevalence. Rest of World represented as a second fast growing region and expected to gain more traction during the forecast period.