Market Research Report
Vertebroplasty and Kyphoplasty Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Vertebroplasty and Kyphoplasty Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 110 Pages
Delivery time: 2-3 business days
The vertebroplasty and kyphoplasty market is expected to register a CAGR of 4.5% over the forecast period, owing to technological advancements in product and increasing burden of vertebral compression fracture. Vertebral compression fractures are the most prevalent fractures in osteoporosis patients.
Kyphoplasty devices are expected to exhibit significant growth, owing to the changing lifestyle of people. The adaptation of a sedentary lifestyle by the people has led to physical inactivity, which involves high complications and risk. Even in the patients of osteoporosis and osteopenia, physical exercise reduces the risk of vertebral fractures.
Furthermore, the growing prevalence of vertebral compression fracture, and according to the study of Osteoporosis International, in 2017, around 30% - 50% of people worldwide had been affected with a vertebral compression fracture. Also, according to the study of the Journal of Spine Surgery published in 2019, the kyphoplasty that was performed for vertebral height restoration showed significant outcomes. Therefore, these factors are expected to propel the growth of the vertebroplasty and kyphoplasty market in this segment.
North America is expected to hold a major market share in the global vertebroplasty and kyphoplasty market, owing to the increasing aging population and the presence of product approvals. A vertebral compression fracture is commonly found in the geriatric population. According to the American Association of Neurological Surgeon, a vertebral compression fracture is quite common in older women than men. It affects almost 40% of the women aged 80 and above in the United States. Cardinal Health recently received a US FDA (Food & Drug Administration) approval for its product, 'Ava-Tex Radiopaque Bone Cement', which may be used in the spine fracture surgeries, i.e., vertebroplasty. Such activities may boost the growth of demand and usage for these procedures in the market studied.
The vertebroplasty and kyphoplasty market is fragmented and consists of several major players. In terms of market share, few of the major players have been currently dominating the market. Companies have been taking strategic initiatives to grow their presence in the market studied. For instance, in 2019, Medtronic acquired Titan Spine to expand its product portfolio related to spinal surgery. Some of the companies that are currently dominating the market are Medtronic, Medaid Inc., Teknimed, Cardinal Health, Johnson & Johnson (Depuy Synthes), joimax GmbH, Stryker, Atcomed, Lindare Medical, and Globus Medical.