Bone Glues Market Size, Share, Growth, and Industry Analysis, By Type (PMMA, Calcium Phosphate, Natural, and Synthetic), By Application (Arthroplasty, Kyphoplasty, and Vertebroplasty), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Report Overview

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The global bone glues market size was USD 889.7 million in 2021. As per our research, the market is expected to reach USD 1527.1 million by 2028, exhibiting a CAGR of 7.9% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with bone glues market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

With the aid of bone glues, the process of joining bones helps patients. This can involve, among other things, examining patient data to look for patterns or trends, identifying areas that need improvement, and developing solutions to improve patient care. Bone Glues are important because they give medical personnel the ability to identify problem areas and develop solutions, improving patient care.

The healthcare business has invested heavily in IT development and digitization at a rapid rate, which has considerably aided in the massive growth of the healthcare orthopedic sector. The management and retention of patients is now aided by the analytical systems employed by healthcare organizations all over the world, allowing for the delivery of improved treatment. The adoption of healthcare analytics tools has enhanced patient management overall and increased staff productivity in addition to lowering career stress. The income of bone glues market share has increased as a result of these causes.

COVID-19 Impact: Pandemic to Augment the Bone Glues Market Growth

The market expanded significantly as a result of the COVID-19 pandemic's increased demand for digital solutions and improved bone glue tools to handle the patient load on the healthcare industry as a whole. Researchers and industry professionals will be able to produce better results, foresee patterns, and better understand the dynamics of disease propagation thanks to the use of analytics tools and platforms. The amount of bone glues created during the pandemic needed to be handled appropriately.

Latest Trends

"Clinical Data Analytics Market to Experience New Levels of Growth"

The market for bone glues was mostly controlled by pharmaceutical companies. The growing significance of data mining in drug development and research is anticipated to have a substantial impact on this expansion.  Due to their ability to improve patient safety and quality while reducing costs without compromising treatment schedules, it is projected that healthcare providers would soon adopt these solutions. Additionally, it is anticipated that increased use of cloud-based systems will drive this market over the next seven years due to their ease in processing massive datasets, and that improved app compatibility inside or between organizations would further boost demand.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into PMMA, Calcium Phosphate, Natural, and Synthetic amongst which PMMA is the leading segment.

• By Application Analysis

Based on application, the market can be divided into Arthroplasty, Kyphoplasty, and Vertebroplasty amongst which Arthroplasty is the leading segment.

Driving Factors

"Improvement in a Quality to Surge Bone Glues Market Growth"

The development of the global bone glues market is anticipated to be fueled by factors such as increased use of big data analytics, rising EHR use in emerging countries, and the avoidance of unnecessary expenses. Improved patient outcomes, growing healthcare expenses, increasing venture capital investments, and the use of big data in the healthcare industry are the main drivers of market expansion. The market is being driven by the increasing prevalence of chronic conditions, the need to reduce healthcare expenses, and the use of bone glues in sales and marketing applications.

"Technological Advancements to Drive the Bone Glues Market Growth"

The use of bone glues in the healthcare sector is essential for diagnosing and treating illnesses, enhancing the quality of care, and avoiding preventable deaths caused by some chronic ailments. User-reported data (what people say), task-based measurements (technology that measures physiology and effort), and passive sensing are all helping to obtain the data needed for clinical data analysis, which is helping to expand the industry.  As large orthopedic assistants, the Internet of Things (IoT), mHealth apps, and more funding for medical technology firms are being developed, the market for bone glues in healthcare will expand globally.

Restraining Factors

"Lack of Experienced Personnel to Restrain Bone Glues Market "

For the storage of data and the processing of raw data, the appropriate personnel must be used. The healthcare industry is having trouble filling the skill gap. Serious issues are raised by the lack of diverse skills, in-depth knowledge, specialization, and experience needed to use bone glues. The market's demand is additionally being hampered by growing R&D initiatives. In addition, there are significant implementation cost constraints, security concerns, and storage-related constraints on the market.

Regional Insights

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"North America to Dominate the Bone Glues Market"

The global market is dominated by North America in terms of revenue share. Due to factors like increasing usage of cloud-based solutions, high healthcare spending, and increased demand from pharmaceutical companies for bone glues, the area is anticipated to maintain its dominance throughout the forecast period. A large number of CROs that offer outsourcing services are also present in the area, which is contributing to its expansion.

Due to the region's quick development, rising purchasing power, and growing population, Asia Pacific is predicted to experience the fastest growth rate. The industry in this region has undergone significant expansion and development, which has also contributed in the sector's growth. The adoption rates for bone glues have increased as a result of the growing reliance of consumers and healthcare providers on IT. Prospection, a start-up for orthopedic healthcare with its headquarters in Australia, has established a presence in Japan and will collaborate with regional and global pharma partners to develop cutting-edge medications for the Japanese population.

Key Industry Players

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

List of Market Players Profiled

• Stryker (U.S.)
• DePuy Synthes (U.S.)
• Smith & Nephew (U.K.)
• Arthrex (U.S.)
• DJO Global (Texas)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.