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Vertebral Compression Fracture Devices Market - Growth, Trends, and Forecasts (2023 - 2028)

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  • 117 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5616915

Quick Summary:

In the competitive landscape of healthcare technologies, the vertebral compression fracture devices market presents compelling growth opportunities. Fueled by burgeoning osteoporosis and arthritis rates and surging needs for trauma and cancer treatments, demand for these devices are set to rise significantly. Advancements in spinal surgeries, particularly the accelerated adoption of minimally invasive techniques, are propelling the market towards even greater potential.

Emerging research is unlocking new potentials for higher fracture restoration through vertebral compression fracture devices, further galvanizing the market. Couple this with increasing prevalence of musculoskeletal disorders, and it becomes clear why investors should pay close attention to this prospective market. Challenging elements such as potential post-surgical complications and stringent regulatory approvals should be weighed against the myriad growth factors permeating the industry. Despite these challenges, the market dynamics for vertebral compression fracture devices are favorable and worthy of consideration for strategic business investments.

The vertebral compression fracture devices market is expected to register a CAGR of 8.3 % over the forecast period.

COVID-19 significantly impacted the vertebral compression fracture devices market during the pandemic due to the shift of focus towards battling COVID-19 infection and the decrease in spine surgeries. For instance, according to the study published by World Neurosurgery in September 2021, in Central Europe, the COVID-19 pandemic resulted in limiting regulations for spinal surgery units. Elective surgical operations were decreased, allowing more resources to be allocated to patients with severe acute respiratory coronavirus infections. However, surgical wait times increased due to the pandemic restrictions, which is expected to increase the demand for spine surgeries during the post-pandemic period. Hence, the increased spine surgical wait time is expected to increase the demand for vertebral compression fracture devices and likely propel the growth of the market over the coming period.

The major factors driving this market include the growing burden of osteoporosis and arthritis, the rising burden of trauma and cancers, increase in awareness about the advancements in spinal surgeries and minimally invasive surgeries, among others.

According to the study published in the Journal of Orthopaedic Surgery and Research in October 2021, the global prevalence of osteoporosis was estimated to be 18.3 %. The global prevalence of osteoporosis in women was found to be 23.1%, and in males was found to be 11.7%. People between the ages of 18 and 95 were found to have the highest frequency of osteoporosis. As osteoporosis patients are prone to vertebral compression fractures by simple daily activities, the market is expected to drive due to the huge burden of osteoporosis due to the rise in the adoption of vertebral compression fracture devices.

Furthermore, new research studies on the higher restoration of fractures by the use of vertebral compression fracture devices are expected to drive the market. For instance, as per the study report published by Dovepress in August 2022, if a fractured vertebral body had dynamic mobility, the use of a balloon during balloon kyphoplasty could provide more kyphosis correction, higher vertebral body height restoration and lower cement leakage rate than percutaneous vertebroplasty. These studies help in the widespread usage of various vertebral compression fracture devices, which is expected to drive the market over the forecast period.

Thus, the aforementioned factors, like new research studies and the high prevalence of musculoskeletal disorders are expected to increase the demand for vertebral compression fracture devices that boost the market to growth over the study period. However, risks associated with post-surgical complications, including hemorrhage, vertebral posterior element fracture, and stringent regulatory approval for the devices, and reimbursement issues, are expected to hamper the market growth.

Vertebral Compression Fracture Devices Market Trends

Minimally Invasive Spine Surgery Segment is Expected to Hold a Significant Share Over the Forecast Period

Minimally invasive spine surgery (MIS) often aims to stabilize the vertebral bones and spinal joints and relieve pressure on the spinal nerves. The minimally invasive spine surgery segment is likely to hold a significant market share, and it is expected to continue the same over the forecast period owing to the increased adoption of minimally invasive surgical procedures and the rising burden of spine injuries due to accidents or trauma, or cancers.

Furthermore, as per the Spinal Cord Injuries book data updated in August 2021, the leading cause of spinal cord injury (SCI) is motor vehicle collisions which accounts for 38% of new SCI each year, 30% of SCI are due to falls, 13% due to violence, 9% from sports injuries, and 5% from medical and surgical etiologies in the United States.

The increasing research funding or initiatives in the segment helps to drive the market over the study period. For instance, in September 2022, RevBio, Inc. was awarded a Phase I Small Business Innovation Research (SBIR) grant from the National Institute on Aging, part of the NIH. This funding allows the company to pursue the treatment of vertebral compression fractures with its patented bone adhesive technology known as Tetranite, which be delivered in a minimally invasive procedure. Hence, the new research grants or fundings increase the adoption of minimally invasive spine surgery, which is expected to drive the growth of the market through this segment.

The rise in initiatives by the market players in the vertebral compression fracture devices market is expected to drive this segment's growth further. For instance, in September 2021, Medtronic introduced three new devices to its minimally invasive spinal technologies ecosystem, making it the company to combine spinal implants, biologics, navigation, robotics, and AI-powered data for surgeons and patients. Such initiatives by the key players in spine surgical devices are therefore expected to drive the growth of this segment over the forecast period.

Thus, all the above-mentioned factors, like rising spinal injuries, increasing research funding or initiatives, and rise in initiatives by the market players, increase the demand for products in the segment and are expected to boost the market to grow.

North America is Expected to Hold a Major Share in the Market Over the Forecast Period

North America is expected to hold a major share of the market, and it is expected to do the same over the forecast period. The factors owing to the growth of the market in this region include advancements in minimally invasive surgeries, the rise in prevalence of target diseases, the rise in research funding for trauma-related head and spine injuries, strong foothold of key market players, among others.

Accidental injuries in Mexico are the major factor for vertebral fractures, which increases the demand for vertebral compression fracture devices. For instance, according to GNP Insurance 2022, the number of car accident injuries grew by 28% in 2021 compared to the previous year in Mexico, which increases the demand for vertebral compression fracture devices and is expected to drive the market over the forecast period.

The rising initiatives of key market players are also expected to propel the market growth in this region over the forecast period. For instance, in August 2021, Vertefix HV Cement, a unique solution that addresses the need for real-time flow visualization during cement injection for vertebroplasty and kyphoplasty procedures, was launched by IZI Medical Products LLC. Such initiatives will lead to increased adoption of vertebral compression fracture devices along with the adoption of cement, driving market growth in the United States.

Thus, all the aforementioned factors, like increasing accidental injuries and initiatives by market players, increase the usage of market-specific products that boost the market over the forecast period.

Vertebral Compression Fracture Devices Industry Overview

The vertebral compression fracture devices market is moderately competitive. The market is expected to drive due to the rise in product launches by the key market players and the rise in partnerships, mergers, and acquisitions among the market players, among others. Some of the key players in the market include Spirit Spine Holding Corporation Inc, IZI Medical Products, Stryker Corporation (Orthovita, Inc.), Orthofix Interventional N.V., Johnson & Johnson (DePuy Synthes), Globus Medical, Inc., and Merit Medical Systems Inc., among others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Arthritis and Osteoporosis
4.2.2 Rising Burden of Compressed Bones of the Spine due to Trauma, Cancer, and Others
4.2.3 Increase in Awareness About Advancements in Spinal Surgeries
4.3 Market Restraints
4.3.1 Risks Associated with Post-Surgical Complications Including Hemorrhage, Vertebral Posterior Element Fracture and Others
4.3.2 Stringent Regulatory Approval Procedures and Reimbursement Issues
4.4 Porter Five Forces
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market size in USD million)
5.1 By Product Type
5.1.1 Balloon Kyphoplasty
5.1.2 Vertebroplasty
5.2 By Surgery
5.2.1 Open Spine Surgery
5.2.2 Minimally Invasive Spine Surgery
5.3 By End User
5.3.1 Hospitals
5.3.2 Ambulatory Surgical Centers
5.3.3 Trauma Centers
5.3.4 Others
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Spirit Spine Holding Corporation Inc
6.1.2 Medtronic
6.1.3 IZI Medical Products
6.1.4 Stryker Corporation (Orthovita, Inc.)
6.1.5 Spine Wave, Inc.
6.1.6 Orthofix Interventional N.V.
6.1.7 ZimVie
6.1.8 Johnson & Johnson (DePuy Synthes)
6.1.9 Zavation
6.1.10 Globus Medical, Inc.
6.1.11 Merit Medical Systems Inc.
6.1.12 joimax GmbH

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Spirit Spine Holding Corporation Inc
  • Medtronic
  • IZI Medical Products
  • Stryker Corporation (Orthovita, Inc.)
  • Spine Wave, Inc.
  • Orthofix Interventional N.V.
  • ZimVie
  • Johnson & Johnson (DePuy Synthes)
  • Zavation
  • Globus Medical, Inc.
  • Merit Medical Systems Inc.
  • joimax GmbH