Vertebroplasty and Kyphoplasty Market - Growth, Trends, and Forecasts (2023-2028)

The vertebroplasty and kyphoplasty market is expected to register a CAGR of 5.1% over the forecast period.

The COVID-19 pandemic impacted the vertebroplasty and kyphoplasty market in the early phase due to the worldwide implementation of stringent lockdowns. Additionally, hospital admissions for patients other than COVID-19 and serious diseases were restricted to enter hospitals to avoid the spread of the virus. For instance, according to the study published in SAGE Journals in April 2022, there have been noticeable changes in the hospital admissions of patients with vertebral compression fractures (VCF) compared to the period before the COVID-19 pandemic. Fewer patients visited the emergency department for VCF during the peak of the COVID-19 pandemic which represented a 44% decrease. Hence, COVID-19 affected the pace of the market at the beginning of the pandemic. However, currently, the COVID cases declined and healthcare services are resumed, the market is expected to gain traction and project stable growth over the next 3-4 years

The rising population of osteoporosis, rising geriatric population, and technological advancements in the products, increasing burden of vertebral compression fractures are driving the growth of the studied market.

Aging is the primary factor driving the market growth for the treatment. According to the United Nations Department of Economics and Social 2022 report, there were 771 million people aged 65 years or over globally in 2022 and the older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. Thus, the demand for vertebroplasty and kyphoplasty is expected to rise with the growing geriatric population due to the loss of bone mass that occurs as part of aging in the elderly.

The research article published by Frontiers in Endocrinology Journal in May 2022, stated that about 200 million women suffer from osteoporosis worldwide. It was projected that by 2050, the worldwide incidence of hip fracture would increase by 310% in men and 240% in women. The same article indicated that almost all types of fractures increase in patients with low bone mineral density and adults who already have one type of fracture are 50% to 100% more likely to have a different type of fracture, regardless of the type. This highlights that fracture is the most serious complication of osteoporosis and the increasing prevalence of osteoporosis will ultimately boost the vertebroplasty and kyphoplasty market growth.

Additionally, the advancements in technology and increasing product approvals, and launches, along with partnerships and collaborations by key players are helping in the market growth. For instance, in August 2021, IZI Medical launched Vertefix HV Cement, a product that aims to address the need for flow visualisation during cement injection for vertebroplasty and kyphoplasty procedures. Hence, such launches are expected to boost the demand for vertebroplasty and kyphoplasty procedures, thereby leading to increased adoption of the devices, and driving market growth.

Therefore, owing to the aforementioned factors such as the rising prevalence of osteoporosis, the rising elderly population, technological advancements in vertebroplasty and kyphoplasty products is anticipated to witness growth over the analysis period. However, a stringent regulatory framework related to vertebroplasty and kyphoplasty is likely to impede the market growth.

Key Market Trends

Kyphoplasty Devices are Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period

In kyphoplasty, a special cement is injected into the vertebrae with the additional step of creating space for the treatment with a balloon-like device (balloon vertebroplasty). Further, kyphoplasty can restore a damaged vertebra's height and may also relieve pain.

According to the study published in Frontiers in Surgery Journal in July 2022, the use of kyphoplasty for the clinical treatment of osteoporotic vertebral compression fractures, spinal metastatic tumors, hemangiomas, myelomas, and vertebral nonunion has increased with the global development of minimally invasive spinal surgery. Therefore, the rising adoption of kyphoplasty procedures for the treatment of vertebral compression fractures and cancers will lead to increased adoption of kyphoplasty devices, expected to drive the segment's growth.

Moreover, according to the study published by Medtronic Plc in December 2021, Medtronic’s Kyphon balloon kyphoplasty is a minimally invasive procedure that could eliminate opioid use among many with spinal fractures. Such studies are expected to drive segment growth due to the increased adoption of kyphoplasty procedures to avoid dependence on narcotic analgesics.

Therefore, the rising adoption of kypoplasty procedures in the treatment of VCFs and cancers,
and increased adoption of kyphoplasty to eliminated opioid use among others are expected to propel the growth of the kyphoplasty devices segment in the studied market.

North America is Expected to Hold a Major Share in the Vertebroplasty and Kyphoplasty Market Over the Forecast Period.

North America is expected to hold a significant market owing to factors such as better healthcare infrastructure, rising funding from the government, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the region.

For instance, in September 2022, RevBio has been awarded a Phase I Small Business Innovation Research (SBIR) grant from the National Institutes of Health. With the help of this grant, the company will be able to develop Tetranite, a patented bone adhesive technology, for the treatment of vertebral compression fractures. Therefore, such funding for the development of technologies in vertebral compression fractures is expected to drive market growth due to the increased launch and adoption of products in the market over the forecast period.

Furthermore, according to Osteoporosis Canada, 2022, more than 2.3 million Canadians are living with osteoporosis and at least 1 in 3 women and 1 in 5 men suffer from an osteoporotic fracture during their lifetime. Such a huge prevalence of osteoporosis in Canada is expected to increase the adoption of vertebroplasty and kyphoplasty procedures in the Canadian population, thereby leading to the rising adoption of vertebroplasty and kyphoplasty devices, driving the market growth.

Therefore, owing to the above-mentioned factors such as the rising prevalence of osteoporosis, and increasing grants and funding for the development of VCF technologies is anticipated to drive the market growth in the North America Region.

Competitive Landscape

The vertebroplasty and kyphoplasty market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competition in the market is majorly based on implementing strategies and the increased launch of products in the market. Some of the players in this market include Medtronic, Medaid Inc., Teknimed, Cardinal Health, Johnson & Johnson (Depuy Synthes), joimax GmbH, Stryker, Lindare Medical, and Globus Medical.

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