PUBLISHER: The Business Research Company | PRODUCT CODE: 1455351
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455351
Vertebroplasty and kyphoplasty are both minimally invasive surgical interventions employed to address non-healing vertebral compression fractures (VCFs) in the spine. These procedures entail the injection of polymethyl methacrylate (PMMA) into the vertebral body to reinforce its structure.
The primary products associated with vertebroplasty and kyphoplasty include kyphoplasty devices and vertebroplasty devices. Kyphoplasty devices are specialized medical tools designed for utilization in kyphoplasty procedures, applied in both vertebroplastic and kyphoplastic surgeries performed by hospitals and ambulatory surgical centers.
The vertebroplasty and kyphoplasty market research report is one of a series of new reports from The Business Research Company that provides vertebroplasty and kyphoplasty market statistics, including the vertebroplasty and kyphoplasty industry global market size, regional shares, competitors with vertebroplasty and kyphoplasty market share, detailed vertebroplasty and kyphoplasty market segments, market trends and opportunities, and any further data you may need to thrive in the vertebroplasty and kyphoplasty industry. This vertebroplasty and kyphoplasty market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The vertebroplasty and kyphoplasty market size has grown strongly in recent years. It will grow from $0.91 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed in the historical period can be attributed to several factors, including the aging population and the prevalence of osteoporosis, advancements in minimally invasive techniques, an increase in awareness and diagnosis, rising lifestyle-related factors, and a growing burden on healthcare systems.
The vertebroplasty and kyphoplasty market size is expected to see strong growth in the next few years. It will grow to $1.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be ascribed to several factors, including the expansion of geriatric care services, the development of biocompatible bone cement, increased adoption of outpatient procedures, a focus on value-based healthcare, and the growing geriatric population. Key trends expected in the forecast period encompass research and development in spinal interventions, the expansion of ambulatory surgical centers, technological innovations in bone cement, advancements in procedural technology, and challenges related to healthcare cost containment and reimbursement.
The anticipated increase in the occurrence of spinal injuries related to sports is expected to drive the growth of the vertebroplasty and kyphoplasty markets in the future. These injuries, resulting from sports or physical activities, often involve conditions such as vertebral compression fractures, spondylolisthesis, and herniated discs. The demand for minimally invasive treatments, such as vertebroplasty and kyphoplasty procedures, which involve injecting bone cement into damaged vertebrae, is on the rise. For example, in October 2022, the New Zealand Spinal Trust reported a 5% increase in sporting and leisure spinal cord injuries in New Zealand from 2020 to 2021. Wheeled non-motorsports, water-related accidents, and horse-related accidents accounted for significant portions of these injuries. Consequently, the surge in spinal injuries related to sports is anticipated to be a driving factor for the growth of the vertebroplasty and kyphoplasty market.
The growth of the vertebroplasty and kyphoplasty market is expected to be fueled by the increasing geriatric population. As individuals aged 65 and older often require specialized care due to age-related health needs, vertebroplasty and kyphoplasty procedures play a crucial role in providing minimally invasive solutions for alleviating pain and stabilizing vertebral compression fractures in the elderly. The World Health Organization projected that one-sixth of the global population would be 60 or older by 2030, reaching an estimated 2.1 billion elderly individuals by 2050. Therefore, the growing geriatric population is identified as a key driver for the expansion of the vertebroplasty and kyphoplasty market.
The major obstacle to the growth of the vertebroplasty and kyphoplasty market during the forecast period is the high cost of treatment. The substantial costs associated with treating vertebral compression fractures, often caused by osteoporosis or spinal tumors, pose a significant financial burden on patients and healthcare systems. In January 2022, the American Society of Pain and Neuroscience reported an annual cost exceeding $1 billion for treating vertebral compression fractures, creating financial challenges for the healthcare industry. Consequently, the high treatment costs stand as a hindrance to the growth of the vertebroplasty and kyphoplasty market.
Leading companies in the vertebroplasty and kyphoplasty markets are actively developing new products, such as cement mixtures, to enhance the precision and effectiveness of procedures. These specially formulated bone cements play a critical role in stabilizing fractured vertebrae during vertebroplasty and kyphoplasty. For instance, in November 2021, IZI Medical Products LLC launched Vertefix HV Cement, designed to improve safety and effectiveness by providing real-time flow visualization during bone cement injection. The cement incorporates variable-sized barium particles with high viscosity for enhanced visualization and includes in-site tracking beads for monitoring cement movement during the procedure.
In October 2022, Halma PLC, a UK-based company focusing on safety, health, and environmental technologies, acquired IZI Medical Products LLC for $172.13 million. This strategic acquisition is aimed at strengthening Halma plc's portfolio in the healthcare sector, particularly in minimally invasive diagnosis and treatment, leveraging IZI Medical Products' expertise in vertebral compression fractures and related spinal issues, including vertebroplasty and kyphoplasty procedures.
Major companies operating in the vertebroplasty and kyphoplasty market report are Cardinal Health, Johnson and Johnson (DePuy Synthes), Medtronic Plc., Stryker Corporation, GS Solutions Inc., Lepu Medical Technology (Beijing)Co.Ltd., Merit Medical Systems Inc., Globus Medical Inc., Alphatec Spine Inc., Rontis Corporation, Spectrum Plastics Group., SOMATEX Medical Technologies GmbH, Zavation LLC, MJ Surgical, Benvenue Medical, Joimax GmbH, Laurane Medical LLC, Spine Wave Inc., G21 S.r.l., BM Korea Co. Ltd., Biopsybell Medical, Teknimed, Joline GmbH And Co. KG, SCW Medicath Ltd., Stockli Medical AG, Jiangsu ChangMei Medtech Co.Ltd., IZI Medical Products
North America was the largest region in the vertebroplasty and kyphoplasty market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vertebroplasty and kyphoplasty market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vertebroplasty and kyphoplasty market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vertebroplasty and kyphoplasty market consists of revenues earned by entities through services such as diagnostic evaluation services, consultations, post-operative care, and monitoring services to assist individuals with vertebral compression fractures and related conditions. The vertebroplasty and kyphoplasty market also includes sales of medical imaging equipment, pain management devices, and patient monitoring equipment that help in diagnosis, pain relief, and comprehensive patient care during and after procedures. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vertebroplasty And Kyphoplasty Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vertebroplasty and kyphoplasty market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vertebroplasty and kyphoplasty ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vertebroplasty and kyphoplasty market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.