Press Release

Global Vertebral Augmentation and Vertebroplasty Devices Market Expected to Grow at 12.6% CAGR during 2011-2018


October 16th, 2012

Global Information Inc. would like to present a new market research report, "Vertebral Augmentation and Vertebroplasty Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2018" by GlobalData.

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The global vertebral augmentation and vertebroplasty devices market was valued at $981.8m in 2011 and is forecast to grow at Compound Annual Growth Rate (CAGR) of 12.6% in the 2011 - 2018 period. The market is likely to be driven by the aging global population and the growing number cases of Vertebral Compression Fractures (VCFs) in the major markets for vertebral augmentation and vertebroplasty devices such as the US, Europe and Japan. In selective markets, the availability of reimbursements for vertebral augmentation (or balloon kyphoplasty) procedures, a comparatively expensive procedure, is also likely to boost the market growth for vertebral augmentation devices. The vertebral augmentation and vertebroplasty market has also recovered from the adverse impact caused by the two studies published in the New England Journal of Medicine (NEJM) in 2009 and procedure numbers using both balloon kyphoplasty and vertebroplasty devices are again increasing. Global vertebroplasty market is also likely to show growth due to launch of new technologies based on more precise bone cement delivery systems and the availability of better alternatives compared to poly(methyl methaacrylate) (PMMA), which is commonly used as bone cement and results in higher incidences of cement leakage than the alternatives.

The US is the Largest Market Driven by Growing Market for Vertebral Augmentation Devices and Reimbursement Availability

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The US is the largest market for VCF devices testing market. In 2011, the market for vertebral augmentation and vertebroplasty devices was valued at $527.4m in the US and is expected to grow at a CAGR of 14.2% in the 2011 - 2018 period. The US market is followed by the Japanese market, which is greater than the European market. The reason for the smaller size of the European market is the lower adoption rate for balloon kyphoplasty devices due to limited availability of reimbursements for the procedure.

Medtronic is the Leader in the Global Vertebral Augmentation and Vertebroplasty Devices Market

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In 2011, Medtronic was the leader in the global vertebral augmentation and vertebroplasty device market. The company entered the balloon kyphoplasty (or vertebral augmentation) market in 2007 after acquiring Kyphon, and has gained the leadership position as a result of the high sales growth of its balloon kyphoplasty devices in the 2007 - 2009 period. As a result of concentrated and the intensive sales and training efforts of Medtronic, balloon kyphoplasty device sales have increased significantly compared to vertebroplasty device sales. Also, the high market size of the vertebral augmentation market due to the high per unit average selling price of balloon kyphoplasty devices has resulted in Medtronic gaining a significantly higher market share compared to vertebroplasty device manufacturers. Medtronics dominant position was also helped by its nearly monopolistic position in the balloon kyphoplasty device market until 2010, after which competitors such as Stryker and CareFusion have launched their own vertebral augmentation products in the market.

Regulatory Approval in Japan will Boost the Global Vertebral Augmentation Market Growth

Regulatory approval for the marketing of balloon kyphoplasty products for Medtronic in Japan is likely to boost the vertebral augmentation market growth. In June of 2010, the Pharmaceuticals and Medical Devices Agency (PMDA) of Japan granted approval for the marketing of balloon kyphoplasty products manufactured by Kyphon (owned by Medtronic) after the repeated re-examination of clinical studies. The reason for the late approval of balloon kyphoplasty devices compared to other markets was the slow review regulatory process in Japan for medical devices. However, the approval cleared the path for balloon kyphoplasty device manufacturers to enter the lucrative Japanese market for medical devices. The main factors driving the Japanese market for vertebral augmentation devices are its significantly large population of elderly people, the presence of a well-established healthcare model and reimbursement approval for Medtronics balloon kyphoplasty device.


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