Injectable Cement Market Expected to Reach $2.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Injectable Cement Market," The global injectable cement market size was valued at $1,321.7 million in 2021, and is projected to reach $2,297.0 million by 2031, registering a CAGR of 5.7% from 2022 to 2031. Injectable cement, also known as bone cement, is the material that consist of a powder and liquid, which is used to fill the gap between bone and implant. It is widely used in joint replacement surgery and provides temporary as well as permanent solution to bone fractures. In 1070’s, the U.S. Food and Drug Administration (FDA) approved bone cement for use in knee and hip prosthetic fixation. The function of injectable cement is to transfer the load from the implant to the bone. 

Factors that drive the growth of global injectable cement market share include, increase in number of orthopedic surgeries, increase in number of road accident cases, and growing number of orthopedic centers and hospital that use injectable cement. Moreover, increase in R&D activities in the healthcare sector and rise in demand for injectable cement drive the growth of the market. For instance, according to the report shared by the International Osteoporosis Foundation (IOF), estimated change in the annual number of osteoporotic fractures from 2019 to 2034 is 24.8%, is expected to reach to 5.34 million in 2034 from 4.3 million in 2019. Furthermore, growing incidences of hip fractures also contributes towards the injectable cement market trends. For instance, according to an article published by American Academy of Orthopaedic Surgeons, in November 2020, about 300,000 people in the U.S. sustain a hip fracture and most of these fractures occur in patients aged 65 years and above every year.

Moreover, chronic orthopedic diseases require surgeries, such as hip and knee replacements. In such surgeries, injectable cement is used to fill gaps in bone. Therefore, increase in number of knee replacement surgeries, and increase in number of injectable cement industry fuels the market growth. For instance, in Canada, the knee and hip replacement surgery is the second most common surgery, as per the report shared by the Canadian Joint Replacement Registry (CJRR). Approximately more than 75,000 knee replacement and 63,000 hip replacement surgeries were performed in Canada from 2019 to 2020. This report further states 2.4% increase in the hip replacement surgery from 2019 to 2020.

However, high cost of surgery is anticipated to act as a major restraint of the global injectable cement market size. Furthermore, people are travelling globally to get their treatment done at affordable prices. Thus, increase in number of specialized hospitals in countries, such as Singapore, Japan, China, and India provide good treatment at affordable price, which encourages patients to travel globally.

On the basis of type, the injectable cement market analysis is segmented into low viscosity cement, medium viscosity cement, and high viscosity cement. Depending on application, the market is fragmented into spine fusion, bone fracture, and others. As per end user, the market is differentiated into hospital, clinics, and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of type, the market is classified into low viscosity cement, medium viscosity cement, and high viscosity cement. The high viscosity cement was the highest revenue contributor to the market in 2021, and is the fastest growing segment during the forecast period, owing to excellent mechanical properties, low degradation properties, and rise in demand for high viscosity bone cement.

On the basis of application, the market is classified into spine fusion, bone fracture, and others. The bone fracture segment dominated the market in 2021, and is expected to be the fastest growing segment during the injectable cement market forecast period, owing to rise in incidences of bone fractures due to road accidents and osteoporosis.

On the basis of end user, the market is classified into hospital, clinics, and others. The hospitals segment dominated the market in 2021, and is expected grow at fastest rate during the forecast period, owing to rise in number of orthopedic surgeries performed in hospitals and increase in initiatives taken by government to develop healthcare infrastructure.

Region-wise, North America has the highest injectable cement market share in 2021, and is expected to maintain its lead during the forecast period, owing to higher adoption of synthetic injectable cement, rise in geriatric population, availability of well-developed healthcare infrastructure, and wide availability of injectable cement. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period, owing to surge in sport injuries and accident incidences, rise in awareness about use of injectable cement, and surge in healthcare expenditure.

The overall impact of the COVID-19 pandemic remained negative for injectable cement industry in the injectable cement market. For instance, Canadian Institute for Health Information, in 2019-2020, reported that there was a decrease in number of hip replacements and knee arthroplasty in Canada. This represents 16.1% decrease in hip replacement and a 29.8% decrease in knee arthroplasty surgeries between April and December 2020. The total daily hospital medicare revenue for arthroplasty declined by 87%. However, the market was anticipated to witness recovery in 2021 and beyond, and show stable growth for injectable cement in the coming future.

Key Findings of The Study

• By type, the high viscosity cement segment dominated the market in 2021.
• On the basis of application, the bone fracture segment dominated the market in 2021.
• By end user, the hospital segment dominated the market in 2021.
• By region, North America dominated the market in 2021 and is expected to grow at a CAGR of 5.2%.