Bone glue, also known as calcium phosphate bone cements, are used in orthopedic surgeries to fill bone voids and gaps formed during trauma and reconstructive surgeries. Bone glues are biocompatible, osteoconductive, and help in faster healing of bones while providing immediate fixation of implants without damaging bones. The increasing number of falls and fractures in geriatric population has raised the need for bone regeneration and repair methods like bone gluing. The global Bone Glue market is estimated to be valued at US$ 2,332.0 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing geriatric population is one of the key factors fuelling the bone glue market growth. As per the United Nations, there were about 703 million people aged 65 years and above globally in 2019 which constituted 9% of the world’s population. This number is projected to almost double to around 1.5 billion in 2050. With ageing, bones become brittle making elderly more susceptible to fractures and injuries. Bone glues provide instant fixation helping faster bone regeneration essential for elderly patients. Their ability to adhere to wet and irregular bone surfaces without need for complex surgery make them suitable for geriatric orthopedic procedures.
SWOT Analysis
Strength: Bone glue has advantages over traditional fixation methods as it is less invasive and reduces surgical time and post-operative pain and recovery time.
Weakness: Limited applications and FDA approval for use currently. Risk of inflammation at the site of application.
Opportunity: Rising number of trauma injuries and orthopedic surgeries provide growth opportunities. Development of advanced bone glues widens the scope of applications.
Threats: Stiff competition from alternative bone healing and fixation methods limits market potential. Stringent regulations delay product approvals.
Key Takeaways
The global bone glue market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis
The North America region currently dominates the bone glue market owing to favorable reimbursement policies and rising prevalence of orthopedic diseases. Key players operating in the region are focusing on launching advanced product varieties to consolidate their position.
Key players operating in the bone glue (cytolife, Luna Innovations Incorporated., St. Jude Medical, Inc. (Abbott Laboratories), Johnson and Johnson, Cohera Medical Inc, Tissuemed Ltd., Integra Lifesciences Corporation, Baxter International Inc., B.Braun Melsungen AG, DENTSPLY SIRONA Inc., Chemence Medical Inc., LaunchPad Medical, and C.R. Bard Inc.) are launching innovative bone glue formulations targeted at wider applications. The Asia Pacific region is anticipated to witness the fastest growth due to growing medical tourism, increasing healthcare expenditure and rising geriatric population.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
