The global orthopedic bone cement and casting material market is anticipated to grow from USD 96.26 million in 2022 to USD 214.41 million by 2029, registering a compound annual growth rate (CAGR) of 12.12% during the forecast period.
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Market Overview and Growth Drivers
The increasing incidence of road traffic accidents, which claim approximately 1.35 million lives annually, is a significant factor propelling the demand for orthopedic interventions, including bone cement and casting materials. Additionally, the rising number of surgeries and trauma cases contributes to market growth. The development and application of antibiotic-loaded bone cement beads present promising opportunities for the market.
Market Segmentation
By Product Type: The market is segmented into bone cement and casting materials. Bone cement is expected to command the largest share, owing to its extensive use in joint arthroplasty procedures.
By Application: Applications include trauma cases, spinal injuries, joint arthroplasty, and bone injuries. The increasing number of trauma cases, particularly from road accidents, drives the demand for casting materials for bone fixation.
By End User: End-users encompass hospitals, cardiac medical centers, and orthopedic clinics. Hospitals are anticipated to hold the largest market share due to the availability of specialized physicians and surgeons in emergency and trauma care divisions.
Regional Insights
North America: Expected to maintain dominance in the market, attributed to the high incidence of total knee arthroplasty procedures and advanced healthcare infrastructure.
Asia-Pacific: Projected to witness significant growth, driven by the increasing number of road accidents, rising healthcare expenditure, and growing awareness about orthopedic treatments.
Key Market Players
Prominent companies in the orthopedic bone cement and casting material market include:
DePuy Synthes
Zimmer Biomet
Smith & Nephew Plc
Stryker Corporation
3M Health Care Ltd
BSN medical GmbH
Orthofix International N.V
Biomet Inc
Exactech Inc
Synimed Synergie Ingenierie Medicale SARLAII
BD
Medtronic
Cook Medical
Heraeus Medical
Johnson and Johnson
Challenges and Opportunities
While the market is poised for growth, challenges such as the 2.3% medical device excise tax on domestic sales in certain regions may hinder market expansion. However, opportunities lie in the development of antibiotic-loaded bone cement beads and the integration of trauma recovery applications in mobile phones, which can enhance patient outcomes and streamline post-operative care.
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Conclusion
The global orthopedic bone cement and casting material market is set to experience substantial growth, driven by the increasing number of trauma cases and advancements in orthopedic treatments. Stakeholders are encouraged to invest in research and development to capitalize on emerging opportunities and address the evolving needs of patients worldwide
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