Orthopedic bone cement is made from polymethyl methacrylate (PMMA) and is used in implant fixation post orthopedic surgery. It is called cement as it holds the implant and the bone together by creating tight space. There are different types of bone cements such as calcium phosphate cements and glass polyalkenoate cements that are used in orthopedic surgeries. Cast is used to hold the bones in place post-injury as well as provide superior immobilization after orthopedic surgery. Casts are made from two types of casting materials namely plaster and fiberglass, with cotton and other synthetic materials used to instill soft padding to the bones. There has been a growing demand for orthopedic bone cement and casting materials, especially among the geriatric population as they are prone to developing bone fractures. Furthermore, there has been an increase in the incidence of joint fractures due to the rise in prevalence of obesity which puts immense pressure on knee joints.
Increasing aging population and growing prevalence of bone fractures will drive growth of the market
Healthcare institutions across the world are facing the increasing burden of aging population and as per the statistics provided by World Health Organization, the global population aged 85 years or more will increase by 351% in the following 40 years. Osteoporosis International Journal estimated that 158 million people aged 50 years or above are highly prone to developing bone fractures. The research further stated that the prevalence could double by 2040. The high incidence of osteoporosis globally has been a major driving factor for orthopedic bone cement and casting materials market. The most critical site for fractures is known to be forearm with 1.7 million people developing fractures at the site. As per International Osteoporosis Foundation, an estimated 8.9 million fractures occur every year, which are attributed to osteoporosis and the disease affects more than 75 million people in Europe, U.S. and Japan. The orthopedic bone cement and casting materials market is projected to grow significantly as the prevalence of bone fractures increases across developed and emerging countries.
Orthopedic bone cement and casting materials market is forecast to witness highest growth in the Asia pacific region
North America and Europe represent major regions in the global orthopedic bone cement and casting materials market. In the U.S., an estimated 1.5 million people are affected by fractures every year. As per CDC report, an estimated 3.5 - 4.4 million people visit emergency department every year for diagnosing fractures. The healthcare costs associated with the treatment of osteoporotic fractures is US$ 17 million to US$ 20 billion on an annual basis. Europe is facing the burden of geriatric population and associated joint fractures. Osteoporotic bone fractures create a disease burden of more than 1.75% on the European Healthcare system. Additionally, the rise in incidence of obesity across North America and Europe is adding to the existing cases of fractures which has made positive impact on the orthopedic bone cement and casting materials market.
Asia Pacific region is anticipated to witness highest growth in the global market. China and India are home to large patient pool with China estimated to witness an increase as significant percentage of total population shifts to the geriatric population bracket. India is an untapped opportunity for key companies with a patient pool of 26 million in 2010. The development in healthcare infrastructure and a large underserved patient pool will drive the market for orthopedic bone cement and casting materials in Asia pacific region.
Inorganic growth a major focus area for key players in the market
The key players in the orthopedic bone cement and casting materials market are Zimmer Biomet, Stryker Corporation, Smith & Nephew plc, DePuy Synthes, 3M Healthcare and BSN Medical GmbH, among others. The top 5 companies represent the dominant market share, making the market highly consolidated. The key companies are adopting strategies such as geographic expansion, merger & acquisitions and product launch to extend their presence and stay ahead of the competitors.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.