Market Trends of Vertebroplasty and Kyphoplasty Industry
This section covers the major market trends shaping the Vertebroplasty & Kyphoplasty Market according to our research experts:
Kyphoplasty Devices are Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
In kyphoplasty, a special cement is injected into the vertebrae with the additional step of creating space for the treatment with a balloon-like device (balloon vertebroplasty). Further, kyphoplasty can restore a damaged vertebra's height and may also relieve pain.
According to the study published in Frontiers in Surgery Journal in July 2022, the use of kyphoplasty for the clinical treatment of osteoporotic vertebral compression fractures, spinal metastatic tumors, hemangiomas, myelomas, and vertebral nonunion has increased with the global development of minimally invasive spinal surgery. Therefore, the rising adoption of kyphoplasty procedures for the treatment of vertebral compression fractures and cancers will lead to increased adoption of kyphoplasty devices, expected to drive the segment's growth.
Moreover, according to the study published by Medtronic Plc in December 2021, Medtronic's Kyphon balloon kyphoplasty is a minimally invasive procedure that could eliminate opioid use among many with spinal fractures. Such studies are expected to drive segment growth due to the increased adoption of kyphoplasty procedures to avoid dependence on narcotic analgesics.
Therefore, the rising adoption of kypoplasty procedures in the treatment of VCFs and cancers,
and increased adoption of kyphoplasty to eliminated opioid use among others are expected to propel the growth of the kyphoplasty devices segment in the studied market.
North America is Expected to Hold a Major Share in the Vertebroplasty and Kyphoplasty Market Over the Forecast Period.
North America is expected to hold a significant market owing to factors such as better healthcare infrastructure, rising funding from the government, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the region.
For instance, in September 2022, RevBio has been awarded a Phase I Small Business Innovation Research (SBIR) grant from the National Institutes of Health. With the help of this grant, the company will be able to develop Tetranite, a patented bone adhesive technology, for the treatment of vertebral compression fractures. Therefore, such funding for the development of technologies in vertebral compression fractures is expected to drive market growth due to the increased launch and adoption of products in the market over the forecast period.
Furthermore, according to Osteoporosis Canada, 2022, more than 2.3 million Canadians are living with osteoporosis and at least 1 in 3 women and 1 in 5 men suffer from an osteoporotic fracture during their lifetime. Such a huge prevalence of osteoporosis in Canada is expected to increase the adoption of vertebroplasty and kyphoplasty procedures in the Canadian population, thereby leading to the rising adoption of vertebroplasty and kyphoplasty devices, driving the market growth.
Therefore, owing to the above-mentioned factors such as the rising prevalence of osteoporosis, and increasing grants and funding for the development of VCF technologies is anticipated to drive the market growth in the North America Region.
