Injectable Cement Market to Garner $2.29 Bn, Globally, by 2031 at 5.7% CAGR: Allied Market Research
Increase in the prevalence of chronic orthopedic diseases and surge in need for injectable cements have boosted the growth of the global injectable cement market.
PORTLAND, Ore., Nov. 23, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Injectable Cement Market By Type (Low Viscosity Cement, Medium Viscosity Cement, High Viscosity Cement), By Application (Spine Fusion, Bone fracture, Others), By End User (Hospital, Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global injectable cement industry accounted for $1.32 billion in 2021, and is expected to reach $2.29 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.
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Major determinants of the market growth
Increase in the prevalence of chronic orthopedic diseases and surge in need for injectable cements have boosted the growth of the global injectable cement market. However, high cost of surgical treatment and side-effects hinders the market growth. On the contrary, surge in healthcare expenditure would open new opportunities in the future.
- The Covid-19 pandemic disrupted workflows in the healthcare sector across the globe. Moreover, knee & hip surgeries were postponed or cancelled altogether.
- The prolonged lockdown led to disruptions in the supply chain and increased prices of raw materials.
The high viscosity cement segment dominated the market
By type, the high viscosity cement segment held the largest share in 2021, accounting for more than half of the global injectable cement market, and is projected to continue its dominance during the forecast period. In addition, the segment is estimated to register the highest CAGR of 6.0% during the forecast period, owing to increase in use of bone cement in bone fracture treatment and various advantages of high viscosity cement such as low setting time and better prosthetic fixation.
The bone fracture segment to portray the highest CAGR through 2031
By application, the bone fracture segment is projected to manifest the highest CAGR of 6.0% from 2022 to 2031. In addition, the segment held the largest share in 2021, contributing to more than three-fourths of the global injectable cement market, and is expected to maintain its leading position throughout the forecast period. This is owing to rise in geriatric population and increase in prevalence of osteoporosis.
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The hospital segment dominated the market
By end user, the hospital segment held the largest share in 2021, accounting for more than two-thirds of the global injectable cement market, and is expected to continue its dominance throughout the forecast period. Moreover, the segment is projected to manifest the highest CAGR of 6.0% during the forecast period, owing to increase in number of hospitals.
Asia-Pacific held the lion’s share
By region, the market across North America dominated the market in terms of revenue in 2021, accounting for nearly three-fifths of the global injectable cement market, and is projected to dominate the market during the forecast period. This is due to high adoption of minimally invasive surgeries such as spine fusion and well-established healthcare infrastructure, availability of novel products, and strong presence of key players in this region. However, the market across Asia-Pacific is expected to register the highest CAGR of 7.1% during the forecast period, due to high patient pool among China and India, increase in road accident traffic accident cases, and rise in research and development activities in the pharmaceutical sector.
Major market players
- cook medical
- Enovis (DJO Global, Inc.)
- Johnson & Johnson’s MD&D
- Medacta International SA
- smith and nephew
- Stryker Corporation
- B. Braun Melsungen AG
- Medtronic plc
The report analyzes these key players of the global injectable cement market. These players have adopted various strategies such as expansion, partnerships, new product launches, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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