Bone Cement for Spine Market to Reach $168.6 Million, Globally, by 2033 at 5.3% CAGR: Allied Market Research
Wilmington, Delaware, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Bone Cement for Spine Market by Type (Low Viscosity, Medium Viscosity and High Viscosity), by Application (Vertebroplasty and Kyphoplasty), and End User (Hospitals and Specialty Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the bone cement for spine market was valued at $101.2 million in 2023, and is estimated to reach $168.6 million by 2033, growing at a CAGR of 5.3% from 2024 to 2033.
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Prime Determinants of Growth
Rise in number of spinal cord injuries has emerged as a significant driver for the bone cement for spine market. These injuries, often resulting from traumatic incidents such as vehicular accidents, falls, sports injuries, and violence, lead to complex medical conditions that require specialized treatment to stabilize the spine and alleviate pain. Bone cement, primarily used in procedures like vertebroplasty and kyphoplasty, plays a crucial role in the management of these injuries. It provides immediate pain relief and stabilizes the fractured vertebrae, enhancing patient mobility and quality of life. The increasing incidence of spinal cord injuries globally, coupled with advancements in medical technology and surgical techniques, is propelling the demand for bone cement. In addition, rise in geriatric population, which is more susceptible to osteoporosis and related fractures, further increases the prevalence of spinal issues.
Report Coverage & Details
| Repot Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $101.2 million |
| Market Size in 2033 | $168.6 million |
| CAGR | 5.3% |
| No. of Pages in Report | 280 |
| Segments Covered | Type, Application, End User, and Region |
| Drivers |
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| Opportunity |
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| Restraint |
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Segment Highlights
The medium viscosity segment dominated market share in 2023
By type, the medium viscosity segment dominated the market share in 2023. This is attributed to the growing demand for sophisticated decontamination equipment in healthcare facilities, pharmaceutical industries, and research laboratories to ensure stringent infection control and sterile environments.
The kyphoplasty segment dominated the market share in 2023
By application, the kyphoplasty segment dominated the market share in 2023. This is attributed to the high adoption of kyphoplasty surgery. Kyphoplasty is often associated with better pain relief and functional improvement compared to Vertebroplasty. The ability to correct kyphosis (spinal curvature) and restore vertebral height makes it a more appealing option for many patients.
The hospital segment dominated market share in 2023
By end user, the hospital segment dominated the market share in 2023. This is attributed to hospitals performing a high volume of spinal surgeries, including procedures such as vertebroplasty and kyphoplasty, which commonly use bone cement. Hospitals are typically equipped with advanced surgical facilities and equipment necessary for complex spinal procedures. This includes imaging technology, surgical instruments, and skilled medical staff, making hospitals the preferred setting for these surgeries.
Regional Outlook
The North America segment dominated the market share in 2023 due to high adoption of bone cement for spine by healthcare professionals, a well-established healthcare infrastructure, and the strong presence of major key players in the region. However, the Asia-Pacific region is expected to register the highest CAGR in the forecast period. This is attributed to developing healthcare facilities, favorable government initiatives for healthcare infrastructure development and rise in spinal cord injuries.
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Key Players
- Medtronic
- Cardinal Health., Ltd.
- META BIOMED Co., Ltd.
- Heraeus Medical GmbH
- Shanghai Rebone
- Tecres S.P.A.
- OSARTIS GmbH
- IZI Medical
- Johnson & Johnson
- Heraeus Medical
The report provides a detailed analysis of these key players in the global bone cement for spine market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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