Industry Outlook
The vertebral compression fracture repair devices market is set to reach US$ 6,082.9 Mn by 2029, expanding at a compound annual growth rate of 8.25%. As per the research citing of the International Osteoporosis Foundation 2019 report, osteoporosis is responsible for at least 8. 9 million vertebral fractures annually, which accounts to an osteoporotic fracture at every 3 seconds. Osteoporosis is predominant in the female population affecting approximately 200 million women worldwide and found mostly in elderly population. If not addressed appropriately, vertebral fracture is responsible for morbidity in the geriatric population. The quality of life and mental health of the patient is the most affected due to lack of mobility and severe pain encountered during the disease progression. According to the National Osteoporosis Foundation (U.S., 2015) research findings, women who have already developed vertebral fracture are more susceptible to another fracture in a span of 1 to 2 years.
The other factors responsible for the occurrence of vertebral fracture are sedentary lifestyle, impaired neuromuscular function, and prolonged use of corticosteroids & proton pump inhibiting drugs. Smoking and high consumption of alcohol are also related to reduced density making them susceptible to recurrent fractures. In the last 3 decades, there has been a tremendous technical advancement in the treatment of vertebral compression fracture, where minimally invasive treatments such as vertebroplasty and kyphoplasty have been proven beneficial to overcome pain in patients.
Vertebroplasty is still the most preferred surgical option owing to its low cost and popularity among orthopedic surgeons worldwide. Kyphoplasty is a more evolved surgical procedure, and is being rapidly adopted owing to promising clinical outcomes in comparison to other treatment options and better post-surgery compliance. North America currently dominates the vertebral compression fracture repair devices market due to domicile of key players, better reimbursements, and increasing number of orthopedic clinics in the region. Growing geriatric population, rising prevalence of osteoporosis and occupational hazards are responsible for the rapid growth of Asia Pacific during the forecast period from 2021 to 2029.
"Balloon kyphoplasty will be the trendsetter in the vertebral compression fracture repair devices market"
Vertebroplasty is the leading segment by procedures and the growth is majorly accounted to increasing number of traumatic accidents of the vertebrae, and rising prevalence of elderly population suffering with osteoporosis. Moreover, the relatively low cost surgical procedures and surgeons’ high preference contribute to the dominance of vertebroplasty surgical procedure. Balloon kyphoplasty is set to be the biggest trendsetter throughout the forecast period from 2021 to 2029, being recognized the state-of-art surgical procedures, which are successful in restoring the height of the fractured vertebrae and maintain the desired structure and vertebral flexibility. Post-surgery patient compliance reported to be excellent in balloon kyphoplasty in comparison to other surgical procedures. The volume of spinal fusion surgeries is on a rise due to increase in severe traumatic road accidents, falls and occupational hazards.
"Lack of nutritious diet and occupational hazards are responsible for Asia Pacific’s fast growth during the forecast period"
North America is currently dominating the vertebral compression fracture repair devices market as the region houses key players engaged in the production of devices related to surgical procedures such as vertebroplasty and kyphoplasty. Moreover, increasing demand for minimally invasive surgeries and affordable reimbursement scenario further contribute to the dominance of North America. Eastern Europe serves as a lucrative market for establishing subsidiaries of key players, thereby cater to the needs of elderly population suffering with vertebral compression fractures. Asia Pacific is set to register significant growth throughout the forecast period from 2021 to 2029, which is majorly accounted to large patient pool suffering with osteoporosis due to compromised diet, particularly in the middle and low-income groups. Increasing geriatric population and the supportive regulatory environment provided by local regulatory authorities are responsible for the fast growth of Asia Pacific market. Morbidity due to vertebral compression fracture in elderly patients is high in Latin America. Key European players specializing in vertebroplasty and kyphoplasty products consider this as a good investment proposition. Diversification strategy to consolidate healthcare segment and increasing demand for orthopedic products cater to the growth of vertebral compression fracture repair devices market in Middle East and Africa.
Market size and compound annual growth rate are covered in the market assessment sections, which help in understanding the latest market trends prevailing in the VCF repair devices market. Competitive landscape is useful to gain insight regarding the financial performance of the key players and their strategies to dominate the market. Recent news coverage in company profiles elucidates the latest mergers and acquisitions among orthopedic devices developers and other key strategies such as product launch and expansion programs would cater as an effective treatment option for vertebral compression fracture. The prominent players actively engaged in the VCF repair devices market and profiled in this report are CareFusion Corporation, Cook Medical, Inc., DFine, Inc., DePuySynthes, Inc., Osseon LLC, Globus Medical, Inc., Medtronic plc, Orthovita, Inc., VEXIM SA, Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Vertebral Compression Fracture Repair Device market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Procedure
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
