PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410143
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410143
The kyphoplasty market was evaluated at US$799.574 million in 2021 and will grow at a CAGR of 5.48% to be worth US$1,161.548 million by 2028.
Kyphoplasty is a medical procedure employed to alleviate pain caused by compression fractures in the spine. These fractures occur when all or a portion of a spine bone collapses, leading to discomfort and reduced spinal stability. By undergoing kyphoplasty, patients can experience relief from pain and improved spinal function. Kyphoplasty finds applications in the restoration of vertebral alignment and treatment of spinal fractures. The end users of kyphoplasty include hospitals & clinics as well as ambulatory surgical centers.
Kyphoplasty is a safe and effective procedure to treat painful vertebral compression fractures caused by conditions like osteoporosis and traumatic injuries. These fractures often result in severe pain and reduced mobility, and kyphoplasty offers a minimally invasive solution to stabilize the fractured vertebrae, restore vertebral height, and alleviate pain. The expansion of healthcare coverage and improved access to medical services driven by government initiatives contribute to the overall growth and development of the healthcare industry. For instance, in March 2022, Spine BioPharma secured a significant $14 million series B round of funding, earmarked to bolster its injectable treatment for degenerative disc disease.
Kyphoplasty is used as a treatment for osteoporosis-related vertebral compression fractures, which occur due to weakened bones in individuals with osteoporosis. In kyphoplasty, a minimally invasive procedure, a balloon is inserted into the fractured vertebra and inflated to create a cavity, followed by the injection of bone cement to stabilize the fracture and restore vertebral height. Osteoporosis is increasing primarily due to factors such as an aging population, sedentary lifestyles, and inadequate calcium and vitamin D intake. According to the Natural Library of Medicine, the projected annual number of osteoporotic fractures in the EU27+2 region is anticipated to rise significantly by 1.06 million, reaching a total of 5.05 million cases in 2034, compared to 4.28 million cases in 2019.
Kyphoplasty stands out as a less invasive alternative to conventional surgical methods for treating vertebral fractures. This procedure offers several advantages, including shorter hospital stays, quicker recovery times, and fewer post-operative complications, making it a compelling choice for patients and healthcare providers alike. With the entire process typically taking less than an hour, kyphoplasty presents an appealing solution for effectively addressing spine-related issues, improving patient outcomes, and reducing the burden on healthcare facilities. Its minimally invasive nature makes it a favorable option for those seeking a less disruptive and more efficient treatment approach for painful vertebral fractures and kyphosis.
North America is projected to hold a significant share of the kyphoplasty market primarily due to the escalating incidence of traumatic spinal injuries coupled with government investments and initiatives. For instance, in January 2022, under the leadership of UBC researchers, a groundbreaking project with funding of $24 million had been initiated to advance the treatment of spinal cord injuries. Also, according to the National Spinal Cord Injury Statistical Center in 2021, the United States witnessed an annual incidence of approximately 54 cases of traumatic spinal cord injury (SCI) per one million people, resulting in approximately 18,000 new SCI cases each year. This figure highlights the significant impact of traumatic spinal cord injuries on the population, emphasizing the need for effective treatments like kyphoplasty.
The risks associated with the procedure such as infection, bleeding, increased back pain, and the possibility of numbness, or weakness due to nerve damage are posing a challenge to the overall market growth. Moreover, there are notable concerns regarding potential allergic reactions to chemicals utilized with X-rays for guidance and the risk of unintended cement leakage from its intended position. These risks may deter some patients from opting for kyphoplasty, impacting market growth despite its proven effectiveness in treating vertebral fractures and kyphosis.