Vertebroplasty and Kyphoplasty Market Gaining from Increasing Incidences of Osteoporosis and Trending Minimally Invasive Surgeries – iCrowdNewswire
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Sep 11, 2019 12:40 PM ET

Vertebroplasty and Kyphoplasty Market Gaining from Increasing Incidences of Osteoporosis and Trending Minimally Invasive Surgeries


Vertebroplasty and Kyphoplasty Market Gaining from Increasing Incidences of Osteoporosis and Trending Minimally Invasive Surgeries

iCrowd Newswire - Sep 11, 2019

Vertebroplasty and kyphoplasty are minimally invasive medical procedures, particularly used for treating vertebral compression fractures in the spinal column caused due to osteoporosis. Globally increasing incidences of arthritis and osteoporosis are the vital factors boosting demand in the Vertebroplasty and Kyphoplasty Market. According to the “International Osteoporosis Foundation (IOF)”, globally, osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporotic fracture every 3 seconds, and 1 in 3 women and 1 in 5 men over the age of 50 years will experience osteoporotic fractures. There are an estimated 125 million people with osteoporosis, in Europe, India, Japan, and the U.S. alone. Thus, the dramatic increase in the number of people living with osteoporosis globally is catapulting demand for vertebroplasty and kyphoplasty procedures. The global vertebroplasty and kyphoplasty market was valued at $1.2 billion in 2018, and the market is estimated to grow at a CAGR of 4.5% during the forecast period 2019-2025.This report covers Vertebroplasty and Kyphoplasty Market size by Surgery Type and Market size by Device T, Vertebroplasty and Kyphoplasty Market share by top 5 companies and also the market share by start-ups during the forecast period.

Moreover, global increase in the geriatric and obese population coupled with their high vulnerability to osteoporosis and other related conditions are adding further impetus to demand for vertebroplasty and kyphoplasty procedures. According to the World Health Organization (WHO), the global obese population nearly tripled between 1975 and 2016 and more than 1.9 billion adults were overweight in 2016. Moreover, as per the U.S. government’s National Institutes of Health (NIH), by 2050, nearly 17% of the world’s population, which will amount to 1.6 billion people, will be aged 65 years or more. Thus, the unprecedented rise in the geriatric and obese population is fuelling growth of the vertebroplasty and kyphoplasty market.

Additionally, the vertebroplasty and kyphoplasty market is gaining momentum due to an increase in the incidence rate of injuries related to extreme sports, accidents, and adventure. According to the “American Orthopedic Society for Sports Medicine”, more than 3.5 million children aged under 14 years receive medical treatment for sports injuries each year. The increasing number of bone injuries and the necessity for fast recovery is driving demand for minimally invasive procedures such as vertebroplasty and kyphoplasty. Moreover, the benefits pertaining to vertebroplasty and kyphoplasty such as the high success rate, safety and effectiveness, short recovery period, lack of surgical incision, low risk of infection, and short hospital stay period are building momentum in the vertebroplasty and kyphoplasty market.

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Vertebroplasty and Kyphoplasty Market: Leading Segments

Geographically, North America dominated the global vertebroplasty and kyphoplasty market, registering a global demand share of 44% in 2018. The high market share of this region is attributed to the growing preference for minimally invasive procedures by the Americans. Owing to the high economic status, the people of this region are spending heavily on medical treatments. The high economic status of the Americans can be fathomed from the statistics by the World Bank, according to which, the GDP of North America increased from $20.24 trillion in 2016 to 22.21 trillion in 2018. Moreover, on the back of rapid technological advancements in the healthcare industry, the hospitals and healthcare providers are making a shift towards cost-saving outpatient and minimally invasive surgical procedures, including vertebroplasty and kyphoplasty. These factors have contributed significantly to growth of the North American vertebroplasty and kyphoplasty market, and rendered the region with the highest market share.

On the basis of end user, the vertebroplasty and kyphoplasty market is segmented into hospitals, ambulatory surgery centers, and others. The hospital segment is the fastest-growing application vertical that is creating lucrative opportunities for the market. The increasing rate of hospitalization for vertebral fractures, and a wide range of services offered by hospitals aimed at providing comfort for patients from the time of hospitalization to discharge time are the factors boosting the growth of this segment. Other pivotal factor that is impacting the affluence of this segment is the patient friendly nature of hospitals. For instance, better healthcare schemes deployed in hospitals, such as Employees’ State Insurance Scheme in India, are providing financial support to the patients and enabling them to undergo sophisticated and authenticated treatments. Thus, hospitals are considered to be the key application segment of the markets and is poised to propel at a CAGR of 3.29% through to 2025.

Vertebroplasty and Kyphoplasty Market Growth Drivers:

· Soaring Popularity for Minimally Invasive Surgeries:

With the growing urbanization and advancing digital technology, the patients are becoming more aware of the health issues and related treatment options. This, in turn, provided an impetus for the adoption of minimally invasive surgeries in the orthopedic such as vertebroplasty and kyphoplasty. Advantages pertaining to the minimal invasive surgeries including shorter hospital stays, faster patient recovery, high rate of patient’s satisfaction, optimal results, less overall use of analgesics or prescription pain medications, elimination of large incisions, and less visible scarring, have enabled the replacement of large incisions by keyholes. Owing to the aforementioned benefits minimal invasive surgeries are gaining grounds in the surgical world. Resultantly, the demand for vertebroplasty and kyphoplasty which are minimally invasive procedures is propelling.

· Demand from Emerging Economies of Asia:

The emerging economies of Asia such as India, China, and Japan are lucrative marketplace for vertebroplasty and kyphoplasty. Rising government healthcare expenditure, presence of a large patient population, growing income levels, and rising obesity cases are some of the key factors propelling the demand for vertebroplasty and kyphoplasty. The population across Asia is rapidly increasing and rapidly ageing. Advancing age is palpably a major risk factor for osteoporosis and fractures. Osteoporosis is thus a growing public health concern across this region. Approximately three-quarters of the world population resides in Asia. Moreover, the older population is expected to increase from an estimate of 548 million in 2019 to nearly 1.3 billion by 2050, according to the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP). Thus the growing public health concern regarding osteoporosis is fuelling the growth of vertebroplasty and kyphoplasty market.

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Vertebroplasty and Kyphoplasty Market Companies

Some of the prominent companies in the global vertebroplasty and kyphoplasty market are DePuy Synthes, Stryker Corporation, CareFusion Corporation, Osseon LLC., Alphatec Spine, Inc., BMK Global Medical Company, Medtronic, Inc., and Globus Medical, Inc. These companies are adopting product innovation and new product launches as key business strategies to develop new and advanced vertebroplasty and kyphoplasty devices, strengthen their product portfolios and address the unmet needs of end users for vertebral fracture surgeries. These companies are frequently involved in acquisitions, mergers, partnerships, collaborations with local players to gain more ground over competitors.

Alphatec Holdings, Inc., the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions affecting the aging spine, has acquired Scient’x Groupe SAS, a spinal implant company headquartered in France. This acquisition is intended to extend its services to global customers and thereby expand its presence in the global market.

Related Reports:

a) Vertebral Compression Fracture Devices Markethttps://www.industryarc.com/Research/Vertebral-Compression-Fracture-Devices-Market-Research-502104

b) Bone Cement and Glue Markethttps://www.industryarc.com/Research/Bone-Cement-Glue-Market-Research-501322

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Press Release Distributed by The Express Wire

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