The bone cement market is estimated to be valued at USD 997.1 Mn in 2024 and is expected to reach USD 1,534.5 Mn by 2031, growing at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031. The growing geriatric population susceptible to orthopedic conditions and rising number of joint replacement surgeries are major factors contributing to the increased demand for bone cement. However, factors such as increasing preference for bio-absorbable materials and 3D-printed implants may moderately impact market growth.

Market Driver - Rising Prevalence of Osteoporosis and Osteoarthritis Leading to Increased Demand for Bone Cement

According to various studies and surveys, it is estimated that over 200 million people suffer from osteoporosis globally and this number is expected to reach over 300 million by 2040. Similarly, osteoarthritis afflicts over 300 million people worldwide and this is the 11th highest cause of disability globally. The aging populations in developed nations as well as fast aging demographics in emerging countries are contributing to this consistent rise.

A direct consequence of increased prevalence of such bone and joint conditions is a parallel rise in orthopedic procedures that use bone cement for repair and reconstruction. Bone cement plays a crucial role in such surgeries undertaken for fractures and joint replacements caused by osteoporosis and osteoarthritis. It helps in affixing prosthetics firmly to remaining bone and ensuring stability and longevity of the implants. There has been notable increase in the number of hip and knee replacement surgeries worldwide which depend heavily on bone cement for anchoring orthopedic implants.

People are more proactively seeking surgical interventions to restore mobility and enhance quality of life. This in turn is driving the uptake of bone cement as an integral part of such orthopedic procedures.

Market Driver - Increasing Number of Orthopedic Surgeries Due to Sports-Related Injuries and Accidents

Participation in both competitive as well as recreational sports has seen a monumental rise globally over last couple of decades. This has unfortunately led to an alarming increase in the number of sports-related injuries including fractures and joint dislocations.

Additionally, with higher levels of urbanization and motorization, road accidents causing bodily harm have become much more commonplace.

According to statistical agencies, injuries associated with sports and accidents now represent a leading cause of emergency room visits and hospital admissions. Sports-related injuries alone are estimated to affect over 30 million people annually in the US as per the American College of Sports Medicine. Common injuries involve knee ligament tears and meniscal injuries in case of sports while bone fractures and dislocations are frequent in accidents. A majority of serious injuries require surgical interventions such as ligament reconstruction, meniscus repair or replacement and fixation of fractures through implants, plates and screws.

All orthopedic surgeries for sports and accident-related fractures as well as damaged knee and shoulder joints rely heavily on bone cement for anchoring prosthetic implants. It is a critical component enabling quick fixation of screws, plates and joint replacements and allowing for early mobilization post-procedure.

Market Challenge - Allergic Reactions Associated with Bone Cement Use

One of the major challenges faced by the bone cement market is the allergic reactions associated with their use. Bone cement contains polymethylmethacrylate (PMMA) which can cause allergic reactions like inflammation, pain, and swelling in some patients. Approximately 5-10% of patients undergoing joint replacement procedures experience allergic reactions to PMMA. These allergic reactions can delay recovery and rehabilitation time for patients.

In some cases, it may also require revision surgery to replace the cemented implant. This leads to increased medical costs and loss of work hours for patients. Market players are investing in extensive research to develop bone cement formulations that reduce or eliminate allergic reactions.

However, developing truly hypoallergenic bone cement solutions remains a scientific challenge given the inherent properties of PMMA. The risks of allergic reactions could discourage some patients and surgeons from choosing cemented implants, thereby impacting the demand for bone cement products.

Market Opportunity - Regulatory Approvals for Novel Bone Cement Products, Boosting Market Growth

One of the major opportunities for the bone cement market is the regulatory approvals for novel bone cement products. Market players are innovating new bone cement technologies and formulations to address the current limitations.

A few companies have developed bone cement products with advanced properties like better viscosity control during injection, reduced healing time, and lower risk of allergic reactions. Receiving regulatory clearances from bodies like the US FDA and EU Notified Bodies for these innovative bone cement solutions will provide a big boost to their commercialization prospects.

Once approved, these novel products can address unmet needs and target a wider patient base. It will help manufacturers strengthen their market position and drive higher sales revenues. The streamlined regulatory approval process for medical device innovations also encourages continued R&D investments in novel bone cement technologies. This is expected to fuel market revenue growth over the coming years.

Strategy 1: Innovation through R&D

Players have continuously invested in R&D to develop new and improved bone cement formulations. For example, DJO Surgical invested over $30 million annually in R&D from 2015-2018 to develop bone cement with enhanced properties like reduced curing time and better adhesion to bones.

Strategy 2: Partnerships and Acquisitions

Companies partnered and acquired other players to expand their portfolio and geographic reach. For example, Stryker acquired Wright Medical's extremity business in 2020 for $4 billion, gaining new products and a stronger position in trauma and extremities.

Strategy 3: Increased Marketing Spend

Leaders like DePuy Synthes, Johnson & Johnson and Stryker actively promoted their innovative bone cements to surgeons through expanded sales forces and digital marketing campaigns from 2015-2019. DePuy Synthes' marketing spend grew over 15% annually during this period according to annual reports. This raised surgeon awareness, increased new customer acquisitions and procedure volumes - contributing to average 5-7% annual revenue growth for these companies.

Strategy 4: Target Emerging Markets

Players like ArthroCare, Medacta and Colfax entered high-growth emerging markets like Asia Pacific, Latin America and Eastern Europe from 2012-2018 through new facility openings and tailored product launches.

Insights, By Product: Polymethyl Methacrylate (PMMA) Cement Witnesses Evolving Product Innovations

In terms of product, PMMA cement holds approximately 45.7% share of the market in 2024, owning to its continuous product advancements. Being the most widely used standard bone cement, PMMA cement companies are investing heavily in R&D to introduce newer formulations with improved properties. For instance, some companies have launched PMMA cements containing antibiotics that can prevent surgical site infections.

Similarly, efforts are ongoing to develop self-curing and biodegradable PMMA cements. Such innovative products cater well to the increasing needs of the orthopedic surgeries and help consolidate the market position of PMMA cement. Its high penetration and evolving product portfolio have enabled PMMA cement to remain the treatment of choice for bone fixation among surgeons.

Insights, By Joints: Rising Incidence of Knee Disorders Drives Demand

In terms of joints, knee segment is projected to account for 38.6% of the market share in 2024. It is propelled by the increasing prevalence of knee disorders. The risk of osteoarthritis, one of the major causes of knee pain and disability, rises with age itself.

With more people now leading sedentary lifestyles and becoming overweight, knee problems are encountering a further surge globally. This has substantially raised the demand for knee replacement procedures that employ bone cement for fixation of prosthetics.

Favorable reimbursement policies in developed countries are also encouraging people to opt for knee arthroplasty. The growing obese and geriatric population worldwide will continue fueling the demand for knee joint repair in the long-run.

Insights, By Procedure: Escalating Preference for Minimally Invasive Techniques

In terms of procedure, arthroplasty contributes the highest share of the market aided by the rising preference for minimally invasive techniques. Kyphoplasty and vertebroplasty used to treat osteoporotic vertebral compression fractures are associated with certain complications and disadvantages.

On the flip side, advancements in tools and implants have made arthroplasty a lower-risk procedure compared to traditional open surgeries. The shorter hospital stays, less blood loss, reduced postoperative pain and faster recovery related to arthroplasty is increasing its adoption.

Technological evolution of robotic systems and navigation support has further elevated the prominence of arthroplasty procedures among surgeons and patients alike seeking improved clinical outcomes.

• According to the International Osteoporosis Foundation, 8.9 million fractures are attributed to osteoporosis each year, with a fracture occurring every 3 seconds worldwide. This rise in osteoporosis-related fractures is contributing to the surge in bone cement demand.
• Data from WHO (2023) shows that road traffic accidents result in 20 to 50 million non-fatal injuries each year globally, many requiring orthopedic intervention involving bone cement.

The major players operating in the bone cement market include Cardinal Health, Heraeus Holding, EXACTECH, Zimmer Biomet, Enovis Corporation, Johnson & Johnson Services, Inc., Stryker, Smith+Nephew, Wright Medical Group N.V., Ecres S.p.A., Medtronic, Atrivion, Inc., Globus Medical, OSTEOREMEDIES, OSARTIS GmbH, Mathys AG Bettlach, Teknimed, Biocomposites, and Makevale Group companies.

• In April 2024, Heraeus Medical's COPAL® G+C, an antibiotic-infused bone cement, was approved under the new Medical Device Regulation (MDR). This approval strengthens the company's portfolio in infection prevention during orthopedic surgeries.
• In May 2022, Granulab (M) Sdn Bhd, a subsidiary of KPower Bhd, introduced Malaysia's first halal-certified synthetic bone cement called Prosteomax. This novel calcium phosphate cement has been certified halal, making it suitable for a wider patient demographic, especially in Muslim-majority regions.

• By Product
  • Polymethyl Methacrylate (PMMA) Cement
  • Glass Polyalkenoate Cement
  • Calcium Phosphate Cement
• By Joints
  • Knee
  • Hip
  • Shoulder
  • Spine
  • Other
• By Procedure
  • Arthroplasty
  • Kyphoplasty/Vertebroplasty
• By End User
  • Hospitals
  • Clinics
  • Others