Remarkable rise in surgical procedures and initiatives for better healthcare systems are some of the opportunities that are expected to influence the global market for orthopaedic bone cement and casting materials in the coming decade
Rise in number of surgeries, trauma cases, amputation due to diabetes and other diseases which are related to bad life style are some of the factors which are likely to increase the sale of bone cement and casting materials products in the years to come. Medical practitioners and surgeons are expected to gradually shifting preference from conventional surgery in orthopaedics to a new bone cement using surgery for fixing the bone.
One of the significant opportunities that is influencing the global market is rising elderly population. The major incidence of amputations occur among elders due to knee and spine problem, bursitis, osteoarthritis and rheumatoid arthritis. Considering this, manufacturers are coming up with advanced antibiotic material and technological innovations for delivery of bone is leverage untapped market opportunities.
Connecting approach towards consumer is another opportunistic factor that is inducing the global orthopaedic bone cement and casting materials market. Players are focusing on new distribution channel to reach directly to the end user, with minimal time and cost effective way so that the end user can view multiple product at a single time. Many players in the U.S. and EU countries are going online to direct interact with the end user.
Centres for Medicare and Medicaid Services (CMS) in the U.S. has finalised the Comprehensive Care for joint Replacement model which will hold hospitals accountable for the quality of care they deliver to Medicare fee-for-service beneficiaries. Thus initiatives for better health care system is the new opportunity which is expected boost the global orthopaedic bone cement and casting materials market.
Global Orthopaedic Bone Cement and Casting Materials Market: Overview
The global orthopaedic bone cement and casting materials market is expected to witness robust growth during the forecast period. This growth is expected to be primarily driven by increasing demand for bone cement and casting materials in treatment and to promote a better lifestyle and good health. The global orthopaedic bone cement and casting materials market is estimated to grow from almost US$ 2000 Mn in 2017 to more than US$ 3,500 Mn by 2027 end.
This represents a CAGR of 6.6% in terms of value over the forecast period of 2017–2027. The global market for orthopaedic bone cement and casting materials represents absolute $ opportunity of more than US$ 120 Mn in 2018 over 2017 and an incremental opportunity of more than US$ 1,700 Mn between 2017 and 2027.
Joint arthroplasty to dominate the global orthopaedic bone cement and casting materials market throughout the forecast period
Joint arthroplasty is expected to be the most lucrative among all the applications of orthopaedic bone cement and casting materials, with a market attractiveness index of 2.1, expanding at a CAGR of 7.3% during the projected period. Trauma cases is the third largest segment by application, which is expected to be valued at more than US$ 400 Mn in 2017.
However, in terms of market share index, trauma cases segment lags behind the sports injury segment, which is expected to be the second largest market for orthopaedic bone cement and casting materials market, with an estimated market share index of 1.1.
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Orthopaedic Bone Cement and Casting Materials Market: Segmentation
By Product Type
- Bone Cement
- Casting Materials
- Joint Arthroplasty
- Trauma Cases
- Sports Injury
- Spine Surgeries
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa
By End User
- Ambulatory Surgical Centres
- Orthopaedic Clinics