ALBANY, New York, June 15, 2020 /PRNewswire/ -- Steady advances have been made in vertebroplasty and kyphoplasty products and technologies, improving the treatment outcomes for various types of vertebral compression fractures. Medical manufacturers' relentless efforts to develop innovative products will also expand the expertise of spine specialists for managing this medical conditions in developing and developed nations.
In 2018, the global vertebroplasty and kyphoplasty market stood at US$ 1.0 bn and is expected to reach US$ 1.5 bn by 2027. Extensive research and development activities will help the market to garner CAGR of CAGR of ~4.6% from 2019 to 2027.
Analysts at TMR concede that high cost of treatment is a major hindrance to the uptake of procedures, even in developed countries. However, the governments' focus on affordable care will help the vertebroplasty and kyphoplasty market gain momentum in near future.
Key Findings of Vertebroplasty and Kyphoplasty Market Report
- Of all end users of vertebroplasty and kyphoplasty product, hospitals lead the market
- Demand from hospitals key to vertebroplasty and kyphoplasty market's growth in the U.S. and European countries
- Of all regions, North America accounted for the major share in 2018, growth fueled by high incidence of vertebral compression fractures
- Presence of well-structured healthcare services especially in hospital settings bolstering growth of the aforementioned regional market
Explore 178 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Vertebroplasty and Kyphoplasty Market (Product - Vertebroplasty (Needles, Cement Mixing and Delivery Devices), Kyphoplasty (Needles, Balloons, Cement Mixing and Delivery Devices); End use - Hospitals, Ambulatory Surgery Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/23156
Vertebroplasty and Kyphoplasty Market: Key Driving Factors and Promising Avenues
Per a recent report in NCBI, vertebral compression fractures are the most common osteoporotic fractures, especially in osteoporotic individuals. Interventional radiologists, pain management physicians, and spine specialists have benefitted from the advent of new products by medical device manufacturers in the vertebroplasty and kyphoplasty market.
- In recent years, medical technologies firms have secured approval of numerous products by the FDA, expanding the avenue in the vertebroplasty and kyphoplasty market. Focus of the healthcare industry in reducing the post-operative complications and improve outcomes of the associated procedures boost the market's growth.
- General strides being made in surgery in developing economies have complemented the clinical outcomes of vertebroplasty and kyphoplasty procedures.
- Novel devices for spine surgeries have been introduced in the healthcare industry, making vertebroplasty and kyphoplasty helpful for new indications, thereby boosting the market.
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Key Impediments for Vertebroplasty and Kyphoplasty Market Players
The overall cost of vertebroplasty and kyphoplasty procedures is high, making them affordable for patient populations especially in cost-sensitive markets. A key reason is the entire cost is spread over various stages starting from imaging, diagnostics, and medications to hospital care, and post-surgery services. Also, the rising cost of spinal fusion surgeries is a key constraining factor in the growth of the vertebroplasty and kyphoplasty market.
On the other hand, public health systems in developing economies are leaning on reducing the morbidity of acute osteoporotic vertebral compression fractures. This will inevitably bring vertebroplasty and kyphoplasty procedures under the ambit of patients in coming years. Further, emphasis of international medical technology companies to improve post-operative care will pave way for the adoption of cutting-edge technologies.
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Global Vertebroplasty and Kyphoplasty Market: Regional Landscape
Of the various key regions contributing revenues in the vertebroplasty and kyphoplasty market, North America is expected to expand at remarkable growth rate through 2027. The extensive uptake of the procedure in the U.S. has helped cement the potential of the regional market. In recent years, numerous federal programs in the country has helped increase the penetration of vertebroplasty and kyphoplasty products among the patient population.
The global vertebroplasty and kyphoplasty market has been segmented as follows:
- Cement Mixing & Delivery Device
- Needles & Balloons
- Cement Mixing and delivery Device
- Ambulatory Surgery Centers
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Spine Surgery Products Market - The rise in number of spine surgery, increase in geriatric population with spine degeneration cases, growing incidences of accidents among young generation is likely to drive the spine surgery products market. Physician recommendation for spine surgery and new technological innovation by different key players can also accelerate the growth in market.
Balloon Kyphoplasty Devices Market - The global balloon kyphoplasty devices market is primarily driven by rise in cases of osteoporosis and cancer across the world. Additionally, increase in diagnosis and treatment rates of vertebral fractures is projected to drive the global market in the near future.
Vertebroplasty Bone Cement Market - Rise in the number of patients with spinal problems occurring due to accidents, trauma, tumors, sedentary lifestyle, age, and osteoporosis is anticipated to drive the global vertebroplasty bone cement market during the forecast period. Incidence of accidental injuries during sports, driving, and adventure has increased significantly in the last decade.
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