Orthopedic Bone Cement And Casting Materials MarketSize and Trends

Increasing aging population and growing prevalence of bone fractures will drive growth of the market

Healthcare institutions across the world are facing the increasing burden of aging population and as per the statistics provided by World Health Organization, the global population aged 85 years or more will increase by 351% in the following 40 years. Osteoporosis International Journal estimated that 158 million people aged 50 years or above are highly prone to developing bone fractures. The research further stated that the prevalence could double by 2040. The high incidence of osteoporosis globally has been a major driving factor for orthopedic bone cement and casting materials market. The most critical site for fractures is known to be forearm with 1.7 million people developing fractures at the site. As per International Osteoporosis Foundation, an estimated 8.9 million fractures occur every year, which are attributed to osteoporosis and the disease affects more than 75 million people in Europe, U.S. and Japan. The orthopedic bone cement and casting materials market is projected to grow significantly as the prevalence of bone fractures increases across developed and emerging countries.

Orthopedic bone cement and casting materials market is forecast to witness highest growth in the Asia pacific region

Asia Pacific region is anticipated to witness highest growth in the global market. China and India are home to large patient pool with China estimated to witness an increase as significant percentage of total population shifts to the geriatric population bracket. India is an untapped opportunity for key companies with a patient pool of 26 million in 2010. The development in healthcare infrastructure and a large underserved patient pool will drive the market for orthopedic bone cement and casting materials in Asia pacific region.

Inorganic growth a major focus area for key players in the market

The key players in the orthopedic bone cement and casting materials market are Zimmer Biomet, Stryker Corporation, Smith & Nephew plc, DePuy Synthes, 3M Healthcare and BSN Medical GmbH, among others. The top 5 companies represent the dominant market share, making the market highly consolidated. The key companies are adopting strategies such as geographic expansion, merger & acquisitions and product launch to extend their presence and stay ahead of the competitors.