Global Bone Cement Market Size

Bone Cement Market Analysis

The bone cement market is expected to register a CAGR of 6.5% over the forecast period (2022-2027).

COVID-19 has adversely impacted the bone cement market. The pandemic caused added challenges for patients with some form of disability and patients undergone orthopedic surgeries. Due to social distancing, many hospitals were restricted to non-elective procedures and surgeries, and they were instead offering patients video conferencing with disabilities to overcome the limitations of the market growth. The disabled community across the globe was affected hard by the COVID-19 pandemic. Thus, in countries such as in the United States, the Disability Inclusion Fund (DIF) has announced the launch of USD 200,000 Rapid Response Fund in 2020 to support the needs of people with disabilities related to the impact of COVID-19. Furthermore, during the initial days of the pandemic, the number of road accidents also decreased across the globe. For instance, as per the study titled, " Traffic accidents significantly dropped during COVID-19 lockdown" published in March 2022, Rensselaer Polytechnic Institute research showed that the number of traffic accidents fell by almost half during the two-month period at the beginning of the COVID-19 pandemic, when residents of most states were forced to stay at home. It also reported that traffic accidents in Louisiana decreased by 47.0% and injuries due to traffic accidents decreased by 46.0%, and ambulance calls for accidents decreased by 41.0% during March and May 2020. Thus, such instances indicate that the market witnessed a slow growth during pandemic.

The increasing cases of road accidents and traffic injuries after the suspenion of the lockdown has positively impacted the market after the pandemic. For instance, according to the data published by the National Highway Traffic Safety Administration in the United States, in May 2022, traffic fatalities witnessed an increase of around 10.5% in 2021 from 2020. It also reported that fatalities on urban roads were around 57.0% in March 2020, which became 62.0% in March 2021, which is almost a 5.0% increase from the previous year. Similary, according to the data published by the World Health Organization in June 2022, it reported that road traffic injuries are one of the leading causes of death among young adults aged 5 to 29 years and children. It also reported around 93.0% of the world's fatalities mostly occur in middle and low-income countries. The increase in accident cases has increased the number of amputations across the globe. For instance, according to the journal published by the National Library of Medicine in January 2022, it stated that prevalence of amputations was 1.6 million in 2005 which is expected to double by the year 2050. It also reported that one of the major causes of upper limb amputations is trauma which accounts for almost 80.0% of acquired amputations. Bone cement is commonly used for the amputation cases. Bone cement is commonly used for implant fixation in various orthopaedic and trauma surgery. It is used as a space-filler, which holds the implant against the bone. Thus, such instances are anticipated to postively impact the bone cement market over the forecast period.

However, unfavourable reimbursement scenarios and high cost required for launching new products are likely to impede the market growth over the forecast period.