Bone Glue Market Expansion: Global Outlook

Bone glue is a type of surgical adhesive used to repair bone and bind bone graft materials during orthopedic procedures. The advantages of bone glue include reduced surgical time, minimize blood loss, and improved patient recovery. The increasing number of orthopedic surgeries as a result of rising geriatric population and sports injuries has boosted the demand for tissue adhesives in healthcare industry. 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:

Higher Demand for Tissue Adhesives

The demand for bone glue is expected to grow owing to higher demand for tissue adhesives during orthopedic surgeries. As bone glue reduces surgical time and minimal invasive technique, it helps surgeons to perform complex surgeries easily. Moreover, bone glue minimizes blood loss complications and promotes rapid healing. With increasing aging population worldwide suffering from osteoporosis and joint disorders, the demand for orthopedic procedures is growing. This in turn isestimated to fuel the demand for bone glue productsduring the forecast period from 2023 to 2030. The advantages of bone glue over traditional fixation procedure and sutures and staples will drive its adoption rate globally.

Porter's Analysis

Threat of new entrants: The bone glue market requires significant investment and regulatory approvals which make entry difficult for new players. However, development of new biomimetic adhesives offers opportunities.

Bargaining power of buyers: Individual consumers have little influence due to fragmented demand. However, large hospitals can negotiate on price and influence industry competition.

Bargaining power of suppliers: Key materials for bone glue such as fibrinogen and thrombin are available from few global suppliers giving them moderate bargaining power.

Threat of new substitutes: Alternatives like bone cement, plates and screws offer competition but none mimic natural bone healing like bone glue.

Competitive rivalry: The market is dominated by few players and shifting focus to newer applications and regions will intensify competition.

SWOT Analysis

Strength: Biocompatibility and ability to stimulate natural bone healing without rejection.

Weakness: Short shelf life and batch-to-batch variability in properties impact commercialization. High costs also limit use.

Opportunity: Untapped demand in trauma, orthopedic and dental surgeries globally. New applications in 3D bioprinting of bones.

Threats: Stringent regulations for approval and reimbursement policies impact market access. Complications from product or surgical errors.

Key Takeaways

The global Bone Glue market is expected to witness high growth during the forecast period of 2023 to 2030. This is attributed to rising orthopedic surgeries, trauma, and accidental cases globally. The market size for 2023 is US$ 2,332.0 Mn and is projected to reach over US$ 4 Bn by 2030, growing at a CAGR of 5.9%.

Regional analysis indicates North America dominates currently due to FDA approvals and favorable reimbursements. However, Asia Pacific is witnessing fastest growth led by China, India, and Japan due to large patient pools and improving healthcare infrastructure.

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. Focus on new biomimetic formulations and expansion in emerging markets will drive revenue growth for these companies.