Market Trends of Global Bone Cement Industry
This section covers the major market trends shaping the Bone Cement Market according to our research experts:
Polymethyl Methacrylate (PMMA) Cement is Expected to Witness Growth Over the Forecast Period
Polymethyl Methacrylate (PMMA) is widely used in the surgical fixation of artificial joints. The primary function of PMMA bone cement is to transfer forces from the bone to the prosthesis. PMMA bone cement is intended for use in arthroplasty of the hip, knee, and other joints for fixation of polymer or metal prosthetic implants to living bone.PMMA is an acrylic polymer that is created by mixing two sterile components, a liquid MMA monomer and charged MMA-styrene copolymer. The result of this mixing liquid is that the monomer polymerizes around the pre-polymerized powder particles to form hardened PMMA. In this process, heat is generated due to an exothermic reaction.
The increasing cases of knee injuries are one of the major drivers of the segment growth. For instance, as per the report published by the Canadian Institute of Health Information in June 2021, knee replacements in Canada are among the top 3 inpatient surgeries which are performed each year. Similarly, as per the study titled, 'India Joining the World of Hip and Knee Registries' by the National Library of Medicine in September 2020, the number of joint replacements in India is expected to grow at the highest rate in the world from 2020 to 2026. PMMA bone cement is widely used in knee injury cases, therefore, such instances are anticipated to propel the demand of PMMA bone cement thereby, surging the market growth over the forecast period.
North America is Expected to Dominate the Bone Cement Market Over the Forecast Period
North America is expected to dominate the bone cement market over the forecast period. The growth is due to factors such as the rising cases of accidents and an increase in the prevalence of people suffering from degenerative diseases. For instance, as per the report published by the Canadian Institute for Health Information in June 2021, in Canada, around 75,073 knee replacements were performed in 2020. It also reported that knee replacement surgery showed an estimated inpatient cost of approximately USD 10,500, which counts up to more than USD 1.4 billion spent annually on this surgery. Therefore, such an instance indicates considerable market growth in this region.
Key product launches, a high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players, and an increasing number of hip and knee surgeries in the United States are some of the factors driving the growth of the bone cement market in the country. For instance, according to the American Joint Replacement Registry Releases 2021 Annual Report, published in November 2021, despite of temporary decrease in hip and knee surgical procedures due to pandemic, the report shows an overall cumulative increase in procedure volume of 18.3% compared to the previous year in the United States. Such facts are anticipated to drive the growth of the market in the country.
Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.
