May 21, 2024

Bone Glue Market Analysis: Growth Drivers and Challenges

Bone Glue Market

The bone glue market comprises bone adhesives and sealants used for fixing and consolidating bone structures. Bone glues provide secure fixation of fractured bones minimizing the need for metal implants like plates and screws. They offer significant advantages over traditional fixatives like improved elastic modulus matching bones, reducing stress shielding, permitting bone ingrowths, and enabling weight bearing immediately after surgery. Rising sports injuries, road accidents, geriatric population, and lifestyle diseases have increased trauma and fracture incidence globally. This growing number of trauma cases is anticipated to drive the demand for advanced bone glues over the forecast period.

The Global bone glue market is estimated to be valued at US$ 2,332.0 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the bone glue market are Cryolife, Luna Innovations Incorporated., St. Jude Medical, Inc. (Abbott Laboratories), Johnson and Johnson, Cohera Medical Inc, Tissuemed Ltd., Integra Lifesciences Corporation, Baxter International Inc., B.Braun Melsungen AG, DENTSPLY SIRONA Inc., Chemence Medical Inc., LaunchPad Medical, and C.R. Bard Inc.

The key opportunities in the market include rising adoption in spine surgeries and introduction of advanced formulations. The global bone glue market is witnessing high growth owing to increasing product commercialization in emerging economies of Asia Pacific and Latin America.

Market drivers

The growing geriatric population worldwide is one of the major market drivers. Older patients are more prone to fractures due to age-related bone weaknesses like osteoporosis. According to the UN data, the global population aged over 60 years is expected to double from 12% to 22% between 2015 and 2050. This will significantly increase fracture cases driving bone glue demand.

PEST Analysis

Political: The bone glue market is regulated by various governing bodies like the Food and Drug Administration (FDA) in the US. Strict laws and regulations regarding product approval and manufacturing processes impact the market.

Economic: Rising disposable income levels and increasing healthcare spending in developing nations provide growth opportunities. However, high costs associated with new product development hampers market growth.

Social: Increasing incidence of osteoporosis, bone fractures, and musculoskeletal disorders globally drives demand. Also, rising geriatric population prone to such conditions positively influences the market.

Technological: Advancements in material science facilitate the development of tissue adhesives instead of traditional bone cements. New product formulations with improved bonding strength and biocompatibility characteristics foster market growth.

The geographical regions where the bone glue market is concentrated in terms of value are North America and Europe. North America currently dominates due to factors like the rising elderly population susceptible to bone-related conditions and growing healthcare expenditure. Europe follows due to the increasing prevalence of osteoporosis and easy availability of advanced treatment options.

The Asia Pacific region is projected to be the fastest growing market for bone glue during the forecast period. This is attributed to factors like growing medical tourism, rising disposable incomes, increasing investments by key players, growing demand for advanced medical technologies, and expanding healthcare infrastructure in various Asian countries. China and India are expected to drive the market in the coming years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it