Global Bone Glue Market, by Product Type (Synthetic Bone Glue and Natural Bone Glue), by Therapeutic Application (Osteoporosis, Sports Injuries, Spinal Injuries, Traumatic Bone Fracture, and Bone Tumor), by End User (Hospitals, Clinics, Specialized Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 1,981.77 million in 2019 and is expected to exhibit a CAGR of 5.7% over the forecast period (2019-2027). Increasing research and development activities, product launches, and incidence of fractures and rapidly aging population are expected to be major factors driving growth of the global bone glue market over the forecast period.
Organizations such as the National Aeronautics and Space Administration (NASA) is working with LaunchPad Medical in collaboration to resolve the problem of decreasing bone density of astronauts by 2% per month due to low level of force exerted on the skeleton in low-gravity conditions. Thus, in January 2018, LaunchPad Medical announced the creation of a bone adhesive called Tetranite that bonds to both bone and metal surfaces and can therefore be used to treat fractured bones and stabilize metal implants. LaunchPad Medical launched Tetranite adhesive, onto the International Space Station for experiments in microgravity environment. Each year, an estimated 1.5 million people suffer from bone fracture, which leads to bone diseases. Fractures are the most common musculoskeletal medical condition, which accounts for large number of hospitalization cases. Nearly one-third of bone disorder patients are admitted in hospitals or private day care centers. Due to the use of certain advanced bone glue products that are highly effective in treating minor fractures, a substantial number of people who suffer from fractures do not require any hospitalization.
Browse 26 Market Data Tables and 27 Figures spread through 166 Pages and in-depth TOC on "Global Bone Glue Market, by Product Type (Synthetic Bone Glue and Natural Bone Glue), by Therapeutic Application (Osteoporosis, Sports Injuries, Spinal Injuries Traumatic Bone Fracture, and Bone Tumor), by End User (Hospitals, Clinics, Specialized Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"
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Rising prevalence of musculoskeletal diseases is increasing the burden on patients and the overall healthcare system. For example, according to the Arthritis Foundation report of 2018, in 2013, total medical costs and earnings losses due to arthritis were US$ 304 billion. Medical conditions such as osteoarthritis, rheumatoid arthritis, osteoporosis, and lower back pain, which are closely associated with musculoskeletal condition, account for a significant portion of the global healthcare burden. Osteoarthritis is characterized by cartilage joint damage, which leads to severe pain and mobility, mainly in the knees and hip joints. According to WHO and United Nations, osteoarthritis affects 9.6% of males and 18% of females aged 60 years and above. Increasing life expectancy and rapidly aging population are major factors fueling incidence of osteoarthritis. It is projected to be the fourth-largest cause of disability by 2020. These factors, in turn, are expected to boost demand for bone glue, thereby fuelling growth of the bone glue market. Increasing number of joint replacement surgeries that help people overcome pain due to rheumatoid arthritis is also driving growth of the bone glue market. Rheumatoid arthritis causes inflammation of the joints and usually affects multiple joints, affecting 0.3–1.0% of global population and high prevalence among women in developed regions is expected to drive the market growth. This creates lucrative growth opportunities for players in the global bone glue market.
Key Takeaways of the Global Bone Glue Market: