Vertebral Compression Fracture Devices Market is Segmented By Procedure Type (Vertebroplasty, Balloon Kyphoplasty, Others), By Surgery (Open Spine Surgery, Minimally Invasive Spine Surgery), By End-User (Hospital, Ambulatory Surgical Centers, Trauma Centers, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Market Overview
The Global Vertebral Compression Fracture Devices Market is estimated to reach at a CAGR of 8% during the forecast period (2023-2030). A vertebral compression fracture is a spinal condition caused by a spinal cord fracture caused by osteoporosis, arthritis, or trauma. The most common cause of vertebral compression fractures is osteoporosis. Osteoporosis is a form of bone loss that causes bones to fracture easily. Other reasons include spinal injuries (including vehicle accidents and sports injuries) and spinal cancers. The tumor could begin in the vertebrae. However, it is more frequent to spread there from another part of the body to the bone.
Market Scope and Summary
| Metrics | Details |
| Market CAGR | 8% |
| Segments Covered | By Procedure Type, By Surgery, By End User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
Market Dynamics and Trends
Increased occurrences of arthritis and osteoporosis due to an older population, increased knowledge of spinal compression fracture devices and increased physician training. Rising rates of compressed spine bones due to trauma, cancer, and other causes have fueled the market growth. The bones of cancer patients and the elderly are more prone to breaking with no or little force, increasing the number of instances and driving up demand for spinal compression fracture devices.
Increasing prevalence of spinal disorders will drive the market growth
The prevalence of degenerative spine conditions such as degenerative disc disease, arthritis, herniated disc, vertebral fractures, ankylosing spondylitis, spondylosis, back pain, osteoporosis, scoliosis, neck pain, spinal cord cancer, spinal cord injury, hematoma, and kyphosis has increased global demand for vertebral compression fracture devices. Infection, unintentional falls, inflammation, traumatic spine injuries, wear and tear due to aging, vitamin insufficiency, autoimmune illnesses, and limited blood supply to the spine contribute to the global demand for vertebral compression fracture devices.
According to the United Nations, 703 million individuals aged 65 and up in 2019. Furthermore, this figure is expected to double by 2050, reaching 1.5 billion people worldwide. Furthermore, the proportion of people aged 65 and older has increased globally from 6% in 1990 to 9% in 2019. As the population grows, the demand for spinal compression fracture devices worldwide increases. These factors are likely to boost the Vertebral Compression Fracture Devices market.
The treatment of spinal compression fractures entails significant risks which is likely to hamper the market growth
The risk of post-surgical sequelae, such as nerve root irritation, vertebral posterior element fracture, bleeding, and osteoporosis acceleration, is quite significant, limiting the use of vertebral compression fracture operations around the world. This will impede the expansion of the spinal compression fracture devices market throughout the forecast period even further. In the medical field, any procedure that necessitates inserting a device into the skin increases the risk of infection.
COVID-19 Impact Analysis on Vertebral Compression Fracture Devices Market
The spread of the COVID-19 pandemic has influenced many aspects of the business. The imposed lockdown, travel ban, and movement limitations worldwide have influenced the manufacturing, imports, and exports of spinal compression fracture devices. As a result, the COVID-19 pandemic has had a detrimental impact on the global growth of the spinal compression fracture devices market. The economic recession and significant decline in demand for spinal compression fracture devices, which are used in various elective treatment procedures, are expected to impede total demand for these devices in the future years. In addition, the pandemic has temporarily shuttered manufacturing units of several items, including spinal compression fracture devices, significantly harming market growth over the long term.
Segmentation Analysis
The balloon kyphoplasty segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The vertebral compression fracture market is divided into two segments based on product type: balloon kyphoplasty devices and vertebroplasty devices. During the forecast period, the balloon kyphoplasty devices segment is expected to generate the most revenue. This is due to an increase in osteoporosis and arthritis cases. Furthermore, an increase in the geriatric population will drive market expansion in the next years. However, in the projected years, the vertebroplasty sector is expected to create considerable revenue shares in the spinal compression fracture market.
According to the Centers for Disease Control and Prevention, degenerative joint disease, often known as osteoarthritis, affects more than 32.5 million adults in the United States, which may increase the demand for fractured vertebrae treatment. The projected increase in incidences of bone metastases among cancer patients and the rising number of obese people will fuel industry expansion throughout the projection period, as obesity is one of the major risk factors for osteoarthritis.
Geographical Share
North America region holds the largest market share of the global vertebral compression fracture devices market
In 2020, North America accounted for the largest spinal compression fracture market share, followed by Europe. The greater proportion of the North American area can be ascribed to factors such as the ease of access to devices and services throughout emerging countries and an increase in public health awareness. Overall, it is expected that the need for spinal compression fractures will increase dramatically in both developing and developed parts of North America in the coming years.
In February 2021, DePuy Synthes has formed an agreement with Expanding Innovations Inc. to distribute the X-Pac Expandable Lumbar Cage System in the United States, according to the Johnson & Johnson Medical Devices Companies. The X-Pac Cage expands DePuy Synthes' existing product portfolio to offer a comprehensive procedural solution in the lumbar degenerative and minimally invasive spine segments.
Furthermore products launched by key players will boost the vertebral compression fracture devices market in North America. For instance, June 2021, EOS Imaging, a global medical device manufacturer, was acquired by Alphatec Holdings, Inc. to improve clinical performance in the spine by adding unprecedented information to the AlphaInformatiX Platform, accelerating revenue growth through immediate access to EOS' prestigious 380-unit installed base, which overlaps with ATEC's client base minimally and facilitating future global expansion through EOS' established infrastructure.
Companies and Competitive Landscape
The vertebral compression fracture devices market is a fiercely competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Benvenue Medical, Globus Medical Inc,, Johnson & Johnson, Medtronic plc, Stryker Corporation, Depuy Synthes, , VEXIM SA, Zimmer Biomet Holdings Inc, Orthovita Inc, Osseon LLC, Cook Medical Inc, Pioneer Surgical Technology, Alphatec Spine Inc,Amedica Corporation, among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Vertebral Compression Fracture Devices market globally. For instance, In September 2020, The KivaTM Vertebral Compression Fracture (VCF) Treatment System has achieved CE Mark approval in Europe, according to IZI Medical Products, LLC. Kiva is a clinical and commercially successful unipedicular PEEK implant-based therapy option for VCFs in the United States.
Globus Medical, Inc
Overview:
Globus Medical, Inc. is a medical device manufacturer. The Company is solely dedicated to designing, developing, and marketing medicines that aid healing in people suffering from spinal illnesses. Globus Medical provides solutions based on cutting-edge fusion and disruptive technologies.
Product Portfolio:
AFFIRM: AFFIRM is a modular, integrated vertebral augmentation device that provides a variety of less invasive treatment alternatives for vertebral compression fractures (VCFs). Clinicians can use AFFIRM to create a genuinely personalized treatment plan for each patient every time.
