Bone Glue Market is Estimated to Witness High Growth Owing To Its Increasing Applications in Orthopedic Surgeries

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Bone glue is a surgical adhesive used to attach bones together and fill gaps or hold implants in place during orthopedic surgeries. It is made from synthetic or natural polymers that help in healing and join broken bones without need for plates, screws or pins. Bone glues provide structural support in the initial stages of healing and allow early mobilization, reducing recovery time. They are gradually resorbed and replaced by new bone over weeks and months. The increasing number of musculoskeletal injuries and trauma cases globally is driving the demand for these adhesives in orthopedic surgeries as they help in quick healing without secondary surgery for implant removal. The global Bone Glue market is estimated to be valued at US$ 2,332.0 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The usage of bone glue in place of reconstructive orthopedic surgeries presents a major market opportunity. Reconstructive surgeries involving implants leave patients susceptible to infection and often require repeat surgeries to remove the implants once healing is complete. Bone glue provides fixation without need for metallic implants and eliminates risk of implant-related complications. With technological advancements yielding bone glues that are resorbed harmlessly by the body after serving their purpose, their adoption in surgery is expected to grow rapidly. This reduces healthcare costs associated with repeat surgeries and hospital stay while improving patient outcomes through a less invasive approach.

Porter’s Analysis
Threat of new entrants: Bone glue market needs high initial investment for R&D and product development which creates entry barrier. Bargaining power of buyers: Individual buyers such as hospitals have less bargaining power compared to group purchasing organizations. Bargaining power of suppliers: Due to stringent regulations and specialized production processes, bone glue suppliers can exercise significant pricing power. Threat of new substitutes: New biomaterial products threaten to substitute conventional bone glues but require further clinical validation. Competitive rivalry: Significant competition exists among bone glue manufacturers to gain market share and increase brand recognition.

SWOT Analysis
Strengths: Bone glues are easy to use, help rapid wound healing, less painful than traditional metal plates/screws. Weaknesses: High material and sterilization costs. Risk of disease transmission. Needs specialized storage. Opportunities: Growth in aging population and sports injuries. Developing markets yet to adopt bone healing products. Threats: Stringent regulations. Reimbursement issues. Alternative treatments gaining acceptance.

Key Takeaways
The global bone glue market is expected to witness high growth driven by rising orthopedic surgeries and trauma/accident cases.

North America dominates the market currently due to favorable reimbursement policies and presence of major players. The Asia Pacific region is anticipated to grow at the fastest pace due to increasing healthcare expenditures, strong economic growth and rising medical tourism.

Key players operating in the bone glue market are Cryolife, Luna Innovations Incorporated., Stryker Corporation, Johnson and Johnson, Baxter International Inc., and B. Braun Melsungen AG. Cryolife dominates with proprietary hyperbranched polymer technology and global sales network. Stryker focuses on sports medicine glue products while Johnson and Johnson has a comprehensive trauma product portfolio including bone glues.