Global Vertebral Compression Fracture Devices Market Size By Product, By Surgery, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Vertebral Compression Fracture Devices Market Size By Product, By Surgery, By Geographic Scope And Forecast
Vertebral Compression Fracture Devices Market Size And Forecast
Vertebral Compression Fracture Devices Market size was valued at USD 943.62 Million in 2024 and is projected to reach USD 1649.41 Million by 2031, growing at a CAGR of 7.23% during the forecast period 2024-2031.
Global Vertebral Compression Fracture Devices Market Drivers
Ageing Population A major cause is the rise in the number of senior citizens. Osteoporosis and associated disorders are more common in older adults and can result in spinal compression fractures. The demand for VCF devices is increased by this shift in demographics.
Growing Osteoporosis Incidence One of the main causes of spinal compression fractures is osteoporosis. The rising need for VCF therapy alternatives is partly due to the increasing prevalence of osteoporosis, especially in postmenopausal women.
Technological Developments The creation of less intrusive and more efficient VCF devices is the result of advancements in medical technology. Technological developments that improve patient recovery periods and treatment outcomes, like balloon kyphoplasty and vertebroplasty, propel market expansion.
Raising Awareness and Diagnosis Early and more frequent diagnosis of spinal compression fractures is facilitated by increased knowledge about these fractures and better diagnostic methods. As a result, the need for VCF devices rises along with treatment rates.
Healthcare Spending and Insurance Coverage The market for VCF devices is growing as a result of the development of the healthcare infrastructure, rising healthcare expenditures, and better insurance coverage for spinal procedures and treatments.
Growing Prevalence of Spinal Disorders In addition to osteoporosis, other spinal disorders such as traumatic spinal injuries and metastatic spinal tumours can cause vertebral compression fractures, which increases the demand for efficient treatment tools.
Minimally Invasive Procedures One major motivator is the trend towards less invasive surgical techniques. These treatments, including kyphoplasty and vertebroplasty, are recommended because they have shorter recovery periods, a decreased chance of problems, and better patient satisfaction.
Expanding Senior Population Ageing populations in countries like Japan and several European countries are experiencing a rise in the number of VCF cases, which is propelling the need for associated medical products.
Enhanced Research and Development The market is expanding as a result of medical device makers’ ongoing R&D efforts to create cutting-edge and effective VCF devices. New product introductions that increase therapy options and enhance patient outcomes are frequently the result of these developments.
Global Vertebral Compression Fracture Devices Market Restraints
Expensive Procedures and Devices Treatments for vertebral compression fractures, such as kyphoplasty and vertebroplasty, can be costly. The use of these devices may be hampered by their expensive cost, especially in areas with little funding for healthcare or among groups of people without adequate insurance.
Reimbursement Issues Market expansion may be impeded by policy variability and uncertainty. The pricing and accessibility of VCF operations for patients may be impacted by inconsistent reimbursement, which could restrict market penetration.
Absence of Skilled Professionals Treating spinal compression fractures calls for specific knowledge and experience. The market’s ability to expand may be hampered by a lack of qualified healthcare workers, particularly in underdeveloped areas.
Complications and Side Effects While vertebroplasty and kyphoplasty are generally safe procedures, there is a chance of infection, cement leakage, and nerve injury. Both doctors and patients may be discouraged from choosing these treatments due to concerns about these hazards.
Strict Regulations To guarantee patient safety and device efficacy, the market for VCF devices is closely regulated. Manufacturers may find it time-consuming and expensive to comply with these regulations, which could delay the release of new products.
Alternative Therapies The need for VCF devices may be reduced if non-surgical therapies including physical therapy, bracing, and pain management are chosen over surgical procedures.
Global Vertebral Compression Fracture Devices Market Segmentation Analysis
The Global Vertebral Compression Fracture Devices Market is Segmented on the basis of Product, Surgery, And Geography.
Vertebral Compression Fracture Devices Market, By Product
Vertebroplasty Devices
Balloon Kyphoplasty Devices
Based on Product, The Global Vertebral Compression Fracture Devices Market is segmented into Vertebroplasty Devices and Balloon Kyphoplasty Devices. During the projection period, the Balloon Kyphoplasty Devices sector is expected to have the most revenue share. The rise of this category is due to factors such as rising osteoporosis and arthritis incidences. Moreover, throughout the projected period, the expanding elderly population is expected to boost the growth of the market. Over the projected period, the vertebroplasty sector is expected to gain a significant revenue share in the market.
Vertebral Compression Fracture Devices Market, By Surgery
Minimally Invasive Spine Surgery
Open Spine Surgery
Based on Surgery, The market is segmented into Minimally Invasive Spine Surgery and Open Spine Surgery. The Minimally Invasive Spine Surgery market held the largest market share in the Global Vertebral Compression Fracture Devices Market. Minimally invasive surgical methods can be quicker, safer, and need less time to recover than open spine surgery. The benefits include better cosmetic results from smaller skin incisions, and reduced risk of muscle damage as less or no cutting of the muscle is required.
Certain MIS operations are conducted as outpatient procedures with just local anesthetic, reducing the danger of a general anesthetic response. There is less blood loss from this surgical method and a reduced risk of infection and postoperative pain. Furthermore, minimally invasive surgical methods offer decreased dependence on pain medicines after surgery, as compared to open surgeries.
Vertebral Compression Fracture Devices Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
Based on Regional Analysis, The Global Vertebral Compression Fracture Devices Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Global Vertebral Compression Fracture Devices Market was led by North America, and this trend is likely to continue. Product Launches are one of the most common methods used by market participants in the United States of America. According to the Cardinal matrix’s analysis, Johnson & Johnson is the market leader in Vertebral Compression Fracture Devices. Stryker Corporation, Medtronic plc, and Globus Medical, Inc. are among the market’s leading inventors. All of these companies are from North America. During the projected period, the European market is expected to increase significantly. Furthermore, the Asia Pacific market is predicted to have the greatest CAGR throughout the forecast period.
Key Players
The major players in the market are
Alphatec Holdings Inc.
IZI Medical Products
Spirit Spine Holding Corporation Inc.
Globus Medical, Inc.
Johnson & Johnson
Merit Medical Systems, Inc.
Spine Wave Inc.
Medtronic plc
Stryker Corporation
Zimmer Biomet Holdings, Inc.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Alphatec Holdings Inc., IZI Medical Products, Spirit Spine Holding Corporation Inc., Globus Medical, Inc., Johnson & Johnson, Merit Medical Systems, Inc., Spine Wave Inc.
SEGMENTS COVERED
By Product
By Surgery
By Geography
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