PUBLISHER: Allied Market Research | PRODUCT CODE: 1566943
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566943
Bone Cement for Spine Market
The bone cement for spine market was valued at $101.2 million in 2023 and is projected to reach $168.6 million by 2033, growing at a CAGR of 5.3% from 2024 to 2033.
The chemical used as a bone cement for spine is polymethyl methacrylate. The cement is specifically used for spinal surgeries such as kyphoplasty and vertebroplasty. This cement is administered to provide support to weakened broken bones, provide them with strength, and aid in relieving pain. A major attribute of the bone cement is its ability to solidify quickly, providing instant structural support and stability to the spine.
Increase in the prevalence of spinal surgeries across the globe is a key driver of the bone cement for spine market. In addition, the exponentially growing elderly population with high bone fragility is boosting the demand for bone cement for spine. In recent times, the trend of using bone cement as a material for the designing of scaffolds and bone implants through additive manufacturing is acquiring noteworthy traction. This enables the creation of tailored spine implants, according to the specific requirement of patients. Furthermore, the use of bone cement as a carrier for localized drug delivery is gaining significant traction in the healthcare industry.
However, bone cement for spine remains highly susceptible to fragmentation & foreign substance reaction inside the body, which leads to threatening conditions such as prosthetic loosening and periprosthetic osteolysis. These reactions hamper the development of the market. On the contrary, a constant surge in the number of spinal surgeries is projected to present lucrative opportunities for the market development. According to the statistics of the World Health Organization, approximately 15.4 million individuals were suffering from spinal cord injuries in 2021 globally owing to several reasons such as road accidents, falls, or violence. Moreover, Statista-a global data and business intelligence platform-states that around 305,000 individuals in the U.S. had a spinal cord injury by the end of 2023. These eminent figures indicate a promising future for the bone cement for spine market.
Segment Review
The bone cement for spine market is segmented into type, application, end user, and region. On the basis of type, the market is divided into low viscosity, medium viscosity, and high viscosity. As per application, it is bifurcated into vertebroplasty and kyphoplasty. Depending on end user, it is classified into hospitals and specialty surgical centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of type, the medium viscosity segment held a high share of the market in 2023.
As per application, the kyphoplasty segment acquired a high stake in the market in 2023.
Depending on end user, the hospitals segment was the highest shareholder of the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The key players operating in the global bone cement for spine market include Cardinal Health, Meta Biomed Co., Ltd, Heraeus Medical GmbH, Shanghai Rebone, Tecres S.P.A, OSARTIS GmbH, Stryker Corporation, Johnson & Johnson, Heraeus Medical, Smith & Nephew plc, and Medtronic. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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