Apr 24, 2024
THE PREPARATION OF BONE GLUE BY MAX ERNST (1921)
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THE PREPARATION OF BONE GLUE BY MAX ERNST (1921)
Global Bone Glue Market Is Estimated To Witness High Growth Owing To Rising Prevalence of Orthopedic Surgeries
The global Bone Glue market is estimated to be valued at US$ 2,332.0 million in 2022 and is expected to exhibit a CAGR of 5.9% over the forecast period, as highlighted in a new report published by Coherent Market Insights. A) Market Overview: Bone glue, also known as surgical adhesive or tissue adhesive, is a biocompatible substance used in orthopedic surgeries for bone fixation. It provides advantages such as reduced operating time, enhanced rapid bonding, minimized blood loss, and reduced infection risk. The increasing prevalence of orthopedic surgeries, particularly joint replacement procedures, is driving the demand for bone glue. B) Market Key Trends: A key trend in the global Bone Glue market is the rising adoption of minimally invasive procedures. Minimally invasive surgeries offer several benefits over traditional open surgeries, including reduced scarring, faster recovery, shorter hospital stays, and decreased post-operative pain. As a result, there has been an increased preference for minimally invasive techniques in orthopedic surgeries. Bone glue plays a crucial role in fixing bones during these procedures, further propelling its market growth. Another significant trend is the development of advanced bone glue formulations. Manufacturers are focusing on developing bone glues with improved properties such as high bond strength, biocompatibility, fast setting time, and enhanced tissue integration. Such advancements are expected to drive the adoption of bone glue in orthopedic surgeries. C) PEST Analysis: Political: The bone glue market is influenced by government regulations and policies related to healthcare infrastructure development, medical device approvals, and reimbursement policies. Changes in political landscapes and trade policies may impact the import and export of bone glue products. Economic: The economic stability of a region affects the affordability of healthcare services, including orthopedic surgeries. The rising healthcare expenditure and per capita income are expected to contribute to the market growth. Additionally, the growing medical tourism industry in emerging economies is likely to create new opportunities for the bone glue market. Social: The increasing geriatric population, along with the prevalence of bone-related disorders, is a key social factor driving the demand for orthopedic surgeries and bone glue. The rising awareness about the benefits of minimally invasive surgeries among patients and surgeons is also contributing to market growth. Technological: Advances in biomaterials and tissue engineering have led to the development of innovative bone glue formulations. The integration of nanotechnology and biocompatible polymers has enhanced the functionality and performance of bone glue products. Rapid technological advancements are expected to accelerate market growth. D) Key Takeaways: 1: The global Bone Glue Market Growth is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period, due to increasing prevalence of orthopedic surgeries. The rising geriatric population, growing healthcare expenditure, and advancements in healthcare infrastructure are driving the demand for bone glue. 2: The fastest growing and dominating region in the bone glue market is North America. The region has a well-established healthcare system, advanced medical technologies, and a high prevalence of orthopedic disorders. Furthermore, the presence of major key players in the region contributes to its dominance in the market. 3: Key players operating in the global bone glue market include 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. These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market presence.