Market Size of Vertebroplasty and Kyphoplasty Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vertebroplasty and Kyphoplasty Market Analysis
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.
Vertebroplasty and Kyphoplasty Industry Segmentation
As per the scope of the report, vertebroplasty and kyphoplasty are surgical procedures for the treatment of vertebral compression fractures. These procedures are used to treat painful vertebral compression fractures in the spinal column, which are commonly caused due to osteoporosis. The Vertebroplasty and Kyphoplasty Market is Segmented by Product Type (Vertebroplasty Devices and Kyphoplasty Devices), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments.
| By Product Type | |
| Vertebroplasty Devices | |
| Kyphoplasty Devices |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| Rest of the World |
Vertebroplasty and Kyphoplasty Market Size Summary
The vertebroplasty and kyphoplasty market is poised for growth, driven by factors such as the increasing prevalence of osteoporosis, a rising geriatric population, and technological advancements in medical devices. The market experienced initial setbacks due to the COVID-19 pandemic, which led to a decline in hospital admissions for vertebral compression fractures as healthcare systems prioritized COVID-19 cases. However, as healthcare services have resumed, the market is expected to regain momentum. The aging population, particularly those over 65, is a significant driver of demand for these procedures, as bone mass loss due to aging increases the incidence of vertebral compression fractures. Additionally, the prevalence of osteoporosis, which affects millions globally, is expected to further boost market growth, as fractures are a serious complication of this condition.
Technological advancements and product innovations are also contributing to the market's expansion. Key players in the industry are actively launching new products and forming partnerships to enhance their offerings. For instance, the introduction of products like Vertefix HV Cement aims to improve procedural outcomes in vertebroplasty and kyphoplasty. The North American region is anticipated to hold a significant market share due to its robust healthcare infrastructure, government funding, and high awareness of available technologies. The fragmented nature of the market, with numerous global and regional players, fosters competition and innovation. Companies such as Medtronic, Johnson & Johnson (Depuy Synthes), and Stryker are prominent in the market, contributing to its dynamic landscape.
Vertebroplasty and Kyphoplasty Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Rising Population of Osteoporosis
-
1.2.2 Rising Geriatric Population
-
1.2.3 Technological Advancements in the Products
-
-
1.3 Market Restraints
-
1.3.1 Stringent Regulatory Framework
-
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Product Type
-
2.1.1 Vertebroplasty Devices
-
2.1.2 Kyphoplasty Devices
-
-
2.2 Geography
-
2.2.1 North America
-
2.2.1.1 United States
-
2.2.1.2 Canada
-
2.2.1.3 Mexico
-
-
2.2.2 Europe
-
2.2.2.1 Germany
-
2.2.2.2 United Kingdom
-
2.2.2.3 France
-
2.2.2.4 Italy
-
2.2.2.5 Spain
-
2.2.2.6 Rest of Europe
-
-
2.2.3 Asia-Pacific
-
2.2.3.1 China
-
2.2.3.2 Japan
-
2.2.3.3 India
-
2.2.3.4 Australia
-
2.2.3.5 South Korea
-
2.2.3.6 Rest of Asia-Pacific
-
-
2.2.4 Rest of the World
-
-
Vertebroplasty and Kyphoplasty Market Size FAQs
What is the current Vertebroplasty and Kyphoplasty Market size?
The Vertebroplasty and Kyphoplasty Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Vertebroplasty and Kyphoplasty Market?
Johnson & Johnson (Depuy Synthes), Joimax GmbH, Teknimed, Globus Medical and Stryker Corporation are the major companies operating in the Vertebroplasty and Kyphoplasty Market.
