Vertebroplasty and Kyphoplasty Market Expected to Reach $1.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Vertebroplasty and Kyphoplasty Market," The vertebroplasty and kyphoplasty market size was valued at $757.10 million in 2021, and is estimated to reach $1,308.1 million by 2031, growing at a CAGR of 5.6% from 2022 to 2031.

Vertebroplasty and kyphoplasty surgeries are the minimally invasive procedures that make it easier for surgeons to perform complex surgeries with less efforts and obstacles. The complexity of spinal surgery can provide major challenges for surgeons, which would result in paralysis or less effective surgery. However, use of vertebroplasty and kyphoplasty procedures have decreased the possibility of surgical errors and thereby improved surgical precision.

Furthermore, vertebroplasty and kyphoplasty surgery can be used to treat fractures, mainly the vertebral compression fractures in the spinal column, which are a common result of osteoporosis and its associated abnormalities, and offers several advantages over other traditional surgeries, such as less tissue dissection and muscle trauma, and less blood loss. This also reduces the hospital stay of the patient, and offers early functional recovery, thereby improving the quality of life.

Vertebroplasty and kyphoplasty market trends include is surge in geriatric population across the globe. There is witnessed increase in the elderly population and surge in cases of osteoporosis & arthritis and spine disorders, which are the major drivers of the market, leading to increase in demand for minimally invasive surgeries, such as vertebroplasty and kyphoplasty. Also, subsequent increase in demand for vertebroplasty and kyphoplasty instruments and equipment for treatment of these conditions, propels the growth of the market. For instance, according the United Nations Department of Economic and Social Affairs (UN DESA), May 2022, the number of people aged 65 years or older is projected to double globally to reach 1.5 billion by 2050, boosting the market growth in the future.

In addition, rise in the incidence of spinal condition in geriatric people, as they are more susceptible to spinal disorders and back pain problems, is expected to further drive the growth of the vertebroplasty and kyphoplasty market during the forecast period. Furthermore, kyphoplasty is associated with low-risk procedures and has a short recovery time. It is the safest treatment for VCF, which further propels the market growth.

In addition, technological advancements in the field of surgery also drives the vertebroplasty and kyphoplasty market size around the globe. Nowadays, there is witnessed technological advancement in vertebroplasty and kyphoplasty products, such as vesselplasty, which allows to control the volume of injected cement in the fractured bone and helps in restoration of the vertebral body height. Also, R&D for launch of various novel cements is expected increase the demand for related surgical products. Furthermore, principal strategies adopted by key market players is also driving the market. For instance, in May 2020, Medtronic plc. announced the U.S. launch of Kyphon Assist Directional Cannula for use with its balloon kyphoplasty (BKP) products to treat vertebral compression fractures due to osteoporosis, cancer or benign lesions. Such product launches and approvals are further expected to augment the market growth during the forecast period.

For instance, according to an article published by World Health Organization in June 2022, every year approximately 1.3 million people die as a result of road traffic crash and 20 million to 50 million people suffer non-fatal injuries, with many incurring a disability as a result of their injury. Thus, higher incidences of spinal injury cases, owing to accidents and road crashes, demands for vertebroplasty and kyphoplasty surgeries, which have higher rate of positive outcomes and account for 75% success rate of the surgery. This further propels the demand for vertebroplasty and kyphoplasty surgery and further propels the growth during vertebroplasty and kyphoplasty market analysis.

The vertebroplasty and kyphoplasty market is segmented on the basis of product, end user, and region. By product, the market is segmented into vertebroplasty and kyphoplasty. The kyphoplasty segment dominated the market in 2021, and is expected to grow at the highest rate during the during vertebroplasty and kyphoplasty market forecast, owing to rise in adoption of minimally invasive surgeries, such as kyphoplasty surgeries for the treatment of vertebral compression fractures.

By end user, the vertebroplasty and kyphoplasty market is categorized into hospitals and ambulatory surgical centers. The hospitals segment accounted for the largest vertebroplasty and kyphoplasty market share in the market, owing to adoption of well-equipped & advanced surgical devices in hospitals, rising cases of road accidents & emergency hospitalizations, and surge in patient visits to hospitals in emerging countries post pandemic. However, the ambulatory surgical centers segment is expected to grow with the fastest CAGR rate during the forecast period.

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the vertebroplasty and kyphoplasty market share in 2021, owing to presence of key players, rise in government initiatives, well-developed healthcare infrastructure, and rise in prevalence of spine related health disorders such as vertebral compression factors and others. However, the Asia-Pacific region is expected to grow at the fastest rate with highest CAGR during the forecast period.

The major companies profiled in this report include, BPB Medica-Biopsybell, Johnson & Johnson (DePuy Synthes), Globus Medical Inc., Halma plc. (IZI Medical Products), Joimax GmbH, Medtronic plc., Merit Medical Systems Inc., Seawon Meditech, Stryker Corporation, and Zavation.

KEY FINDINGS OF THE STUDY 
•    Based on product, the kyphoplasty segment dominated the during vertebroplasty and kyphoplasty industry in 2021 and is expected to grow at the fastest rate during the forecast period. 
•    By end user, hospitals segment dominated the market in 2021 whereas the ambulatory surgical centers segment is expected to grow at the fastest rate during the forecast period.
•    Based on region, North America dominated the vertebroplasty and kyphoplasty industry in 2021, whereas Asia-Pacific is expected to grow at the highest CAGR during the forecast period.