Bone Glue Market estimated to be worth US$ 1.03 Billion at a CAGR of 7.0% during 2016-2024

Bone Glues Market 2022

Global Bone Glue Market Revenues to Reach US$ 1.03 Billion by 2024.

With inevitability of storing data in healthcare sector, the healthcare supply chain has undergone a paradigm shift, which implies that healthcare supply chain management systems are being increasingly accepted, which would drive the healthcare supply market towards exponential growth in the upcoming period. It has been observed that standardizing the healthcare supply chain practices would result in cost cuttings by about 17%. The factors actively transforming the healthcare supply market include cloud-based solutions, enhanced supply chain network of the key participants, increasing adoption of the advanced systems, and increasing pressure for cost reduction (as stated above). This would be the behaviour of market for healthcare supply in the years to come.

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The reluctance of orthopedic patients towards the use of conventional cementing materials for surgical adhesion procedures is influencing the development of organic alternatives. Globally, the consumption of bone glue in hospitals is on an upsurge, owing to their widespread acceptance by both healthcare professionals and patients. The global market for bone glue is currently valued at US$ 600.6 million, and is expected to reach US$ 1,032.9 million in revenues by the end of 2024.

Persistence Market Research’s report titled “Global Market Study on Bone Glue: Rising Adoption of Bone Glue for Orthopedic Surgeries Expected to Boost Demand for Bone Glue over the Forecast Period,” has estimated that the global market for bone glue will register a CAGR of 7.0% during the assessment period of 2016-2024. Prevalence of bone related disorders continues to be on a rise, urging manufacturers to come up with advanced glues.

Company Profiles

• Cryolife
• Baxter International Inc.
• Luna Innovations Incorporated
• B.Braun Melsungen AG
• Johnson and Johnson
• DENTSPLY SIRONA Inc.
• Cohera Medical, Inc.
• Chemence Medical, Inc.
• Tissuemed Ltd.
• C.R. Bard Inc.
• Integra LifeSciences Corporation

Key end-use segments of the market include hospitals, specialty clinics and ASCs. High costs of orthopedic surgeries and growing number of accidents have increased the influx of orthopedic patients in hospitals. Since treating such patients requires the inclusion of bone glue as surgical adhesives, manufacturers are likely to concentrate their supply more towards hospitals and similar medical organizations.

Specialty clinics are expected to be the second-most prominent end-user in the global bone glue market. On the account of their individual value share, specialty clinics and ASCs are projected to attribute to 17.9% and 10.9% share of the global bone glue market by 2024 end.

Regional Overview

In terms of value share, North America’s bone glue market accounts for half of the global market value, primarily due to advanced pharmaceutical production and robust healthcare infrastructure in the US. The bone glue market in the Asia Pacific region is expected to surge at the highest CAGR of 7.6% during the projected period.

Latin America’s bone glue revenues are likely to surpass US$ 50 million by 2024, while bone glue sales in Middle East & Africa (MEA) region will expand sluggishly. On the other hand, revenues generated from bone glue sales in Europe are expected to be worth over US$ 150 million by the end of the forecast period.

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Higher Demand for Synthetic Bone Glue

The production of bone glue through synthesis of constituent adhesive elements becomes more cost-effective and practical for manufacturers. Over 80% of global revenues estimated in 2016 and beyond are projected to be accounted by synthetic bone glue over natural bone glue. Revenues from global sales of synthetic product called methacrylate will incur a rise of estimated US$ 23.8 million between 2016 and 2017, while global cyanoacrylate revenues are likely to surpass US$ 250 million by 2024 end.

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