Vertebroplasty and kyphoplasty Market: Introduction
- Transparency Market Research has published a new report titled, “Global Vertebroplasty and kyphoplasty Market”. According to the report, the global vertebroplasty and kyphoplasty market was valued at US$ 1.0 Bn in 2018 and is projected to expand at a CAGR of 4.6% from 2019 to 2027.
- The global vertebroplasty and kyphoplasty market is driven by increase in the aging population, which has resulted in an increase in the number of vertebrae compression fractures and rise in health care expenditure. Moreover, a rise in demand for minimally invasive procedures for spine surgery also drives the vertebroplasty and kyphoplasty market. Additionally, according to the World Journal of Orthopedics, 2016, more than 200 million people in the world are affected by osteoporosis and more than 8.9 million fractures occur each year.
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Kyphoplasty segment to Account for Leading Share of Global Vertebroplasty and kyphoplasty Market
- The kyphoplasty segment dominated the global vertebroplasty and kyphoplasty market in 2018. The segment is projected to expand at a higher CAGR from 2018 to 2026. The segment is anticipated to sustain its leadership position during the forecast period owing to advantages such as better pain relief, less complications, and rise in awareness about its advantages. The kyphoplasty segment has been classified into needles & balloon and cement mixing & delivery devices.
- Kyphoplasty is a modern procedure of spine surgery for stabilizing vertebral compression fractures caused due to osteoporosis, cancer, etc. Kyphoplasty is similar to vertebroplasty. However, in this process, surgeons use special balloons to create spaces within the vertebra that are then filled with bone cement. This process is very useful to restore lost height of the spine.
- A study report was published in the International Journal of Spine Surgery in 2018 that compared outcomes of vertebroplasty, balloon kyphoplasty, vertebral augmentation with implant and nonsurgical management (NSM) for treating vertebral compression fractures. The study found that kyphoplasty offered significant pain reduction, better height restoration, and better disability score as compared to other treatments.
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Hospital Segment to Account for Significant Vertebroplasty and kyphoplasty Market Share
- Hospitals are a major end-user of vertebroplasty and kyphoplasty products, although specialty antibody application are specifically used in research and diagnostic procedures. Hospital infrastructure in the U.S., European countries, and other developed countries is robust. Therefore, the number of surgeries performed in hospitals is high as compared to that in ambulatory surgical centers.
- High preference of patients for hospitals due to the availability of all levels of treatment, increase in the number of hospital operating rooms, and rise in awareness about different treatment support provided in hospitals for vertebral compression fractures are expected to contribute to the attractiveness of the segment, which augment vertebroplasty and kyphoplasty market.
- Moreover, patients favor hospitals because of reimbursement facilities provided by them through Medicare and Medicaid for inpatients. For instance, El Camino Hospital, a U.S.-based multispecialty hospital, provides reimbursement facilities for its patients who undergo kyphoplasty through the Medicare and Medicaid facility.
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Global Vertebroplasty and kyphoplasty Market: Prominent Regions
- North America held the largest share of the global vertebroplasty and kyphoplasty market in 2018. The vertebroplasty and kyphoplasty market in the region is projected to grow at a rapid pace during the forecast period, driven by presence of key players, technological advancements, and highly structured health care industry.
- North America is projected to continue its dominance in the global vertebroplasty and kyphoplasty market, by 2027, high prices of the kyphoplasty procedure in the U.S. and high incidence rate of vertebral compression fractures in the country were responsible for the high share held by North America in the global vertebroplasty and kyphoplasty market in 2018. According to an NCBI report 2018, vertebral compression fractures are the most common osteoporotic fractures with an estimated occurrence of 7,50,000 per year in the U.S.
- However, a change in reimbursement policies and constant pricing pressure that leads to cutting of prices of kyphoplasty devices are likely to hamper the vertebroplasty and kyphoplasty market in North America in the near future
Global Vertebroplasty and kyphoplasty Market: Key Players
- Key players in the global vertebroplasty and kyphoplasty market focus on strengthening their positions in the global vertebroplasty and kyphoplasty market
- Key players operating in the global vertebroplasty and kyphoplasty market include Medtronic, DePuy Synthes (Johnson & Johnson), Alphatec Spine, Inc., Stryker Corporation, Globus Medical, Inc., Merit Medical Systems, Inc., SPINUS (BMK Global Medical Company), IZI Medial Products, Zavation, and RONTIS.
- Several major manufacturers are collaborating, partnering, acquiring emerging market entrants having novel products. This amalgamation of technical expertise of key players and novel product techniques or materials of new players has ensured launch of new products with improved functionalities in the next few years. In March 2017, Stryker received FDA clearance for its AVAflex balloon system to treat vertebral compression fractures. The company bought this technology from BD. The system mixes, transfers, and primes bone cement for delivery in less then 60 seconds through a single incision.
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