The Worldwide Vertebral Compression Fracture Devices Industry is Expected to Reach $1.9 Billion by 2027
Dublin, Jan. 13, 2022 (GLOBE NEWSWIRE) — The “Global Vertebral Compression Fracture Devices Market By Product Type, By Surgery, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Vertebral Compression Fracture Devices Market size is expected to reach $1.9 billion by 2027, rising at a market growth of 8.5% CAGR during the forecast period.
A spinal disorder that occurs due to a fracture in the spinal cord owing to arthritis, osteoporosis, and trauma is known as a vertebral compression fracture. Osteoporosis is one of the most common reasons behind compression fractures of the vertebrae, and it is a kind of bone loss that results in easy breakage of bones. However, the tumor generally starts spreading from vertebrae to any other part of the body to the bone. There are certain common symptoms of this disorder that consists of gradually increasing back pain, which can be relieved by lying on the back but standing can make it worse, restricted movement in the spine, reduction in the height of the patient, a stooped-over posture known as kyphosis.
Generally, the vertebra’s front side decreases in height due to the fracture; however, the rear side does not witness the same. Due to this, such fractures can lead to the stooped posture of the patient over the time. Some of the problems caused by the nerve damage are weak muscles, numbness or tingling, problems in walking, and possible problem in controlling the bowels or bladder.
The treatment of vertebral compression fracture through the surgical approach involves vertebroplasty and balloon kyphoplasty. The vertebroplasty process includes equipment that are used for inserting medical cement in the fractured vertebral body to get instant pain relief and stability. On the other hand, Kyphoplasty includes the equipment utilized for making a cavity under the fractured vertebral body along with injecting the medical-grade bone cement into the cavity.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted all the domains of the business world. The imposed lockdown, ban on travel, and restrictions on movements across the world have impacted the manufacturing and imports & exports of vertebral compression fracture devices. Thus, the COVID-19 pandemic has negatively affected the growth of the vertebral compression fracture devices market across the globe. The economic slowdown and significant decrease in the demand for vertebral compression fracture devices that are utilized in various elective treatment procedures are estimated to hamper the overall demand for these devices in the coming years. Along with that, the pandemic has temporarily closed the manufacturing units of various things including vertebral compression fracture devices and thus, negatively impacting the growth of the market over the forecast period.
Market Growth Factors:
The growing geriatric population is expected to spur the market growth
In 2019, the number of people aged 65 years or over is 703 million as per United Nations. In addition, this number is estimated to get double by 2050 to 1.5 billion across the world. In addition, the percentage of the people aged 65 years or over has surged across the globe from 6 percent in 1990 to 9 percent in 2019. Due to this increased population, the demand for vertebral compression fracture devices is also growing across the globe.
The rise in the prevalence of spine disorders
The prevalence of numerous 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 the demand for vertebral compression fracture devices across the world. The reason behind these spine problems is infection, accidental falls, inflammation, traumatic spine injuries, wear & tear because of aging, vitamin deficiency, autoimmune diseases, and blocked blood supply to the spine, which augment the demand for vertebral compression fracture devices across the world.
Market Restraining Factor:
High risks involved in the treatment of vertebral compression fracture
The chances of post-surgical complications are quite high that include nerve root irritation, vertebral posterior element fracture, hemorrhage, and acceleration of osteoporosis and this is expected to restrict the adoption of vertebral compression fracture procedures across the world. This is expected to further hamper the growth of the vertebral compression fracture devices market over the forecast period. In the medical field, any kind of procedure that requires the insertion of a device into the skin can increase the risk of infection.
Product Type Outlook
Based on Product Type, the market is segmented into Vertebroplasty devices and Balloon Kyphoplasty Devices. The balloon kyphoplasty devices segment is projected to acquire the largest revenue share in the market over the forecast period. Factor such as growing cases of osteoporosis & arthritis is responsible for the growth of this segment. Additionally, the growing geriatric population is also estimated to fuel the growth of the market during the forecast period. The vertebroplasty segment is anticipated to garner substantial revenue shares in the market over the forecast period.
Surgery Outlook
Based on Surgery, the market is segmented into Minimally invasive spine surgery and Open spine surgery. The Minimally invasive spine surgery market dominated the Global Vertebral Compression Fracture Devices Market by Surgery in 2020. The Open spine surgery market is expected to witness a CAGR of 6.2% during (2021 – 2027).
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America market dominated the Global Vertebral Compression Fracture Devices Market by Region in 2020, and is expected to continue to be a dominant market till 2027. The Europe market is experiencing prominent growth during the forecast period. Additionally, The Asia Pacific market is expected to exhibit highest CAGR during (2021 – 2027).
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Johnson & Johnson are the forerunners in the Vertebral Compression Fracture Devices Market. Companies such as Stryker Corporation, Medtronic plc, Globus Medical, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alphatec Holdings Inc., IZI Medical Products,LLC (Shore Capital Partners), Globus Medical, Inc., Johnson & Johnson (Depuy Synthes), Medtronic plc, Merit Medical Systems, Inc., Spine Wave Inc., Spirit Spine Holding Corporation Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis – Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun – 2021, Jun) Leading Players
Chapter 4. Global Vertebral Compression Fracture Devices Market by Product Type
4.1 Global Vertebroplasty devices Market by Region
4.2 Global Balloon Kyphoplasty Devices Market by Region
Chapter 5. Global Vertebral Compression Fracture Devices Market by Surgery
5.1 Global Minimally invasive spine surgery Market by Region
5.2 Global Open spine surgery Market by Region
Chapter 6. Global Vertebral Compression Fracture Devices Market by Region
Chapter 7. Company Profiles
7.1 Alphatec Holdings Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Research & Development Expense
7.1.4 Recent strategies and developments:
7.1.4.1 Product Launches and Product Expansions:
7.1.4.2 Acquisition and Mergers:
7.2 Zimmer Biomet Holdings, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Acquisition and Mergers:
7.3 Globus Medical, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Product Launches and Product Expansions:
7.4 IZI Medical Products, LLC (Landauer, Inc.)
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Partnerships, Collaborations, Approvals and Agreements:
7.4.2.2 Product Launches and Product Expansions:
7.4.2.3 Acquisition and Mergers:
7.5 Merit Medical Systems, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.5.5.2 Acquisition and Mergers:
7.6 Spine Wave Inc.
7.6.1 Company Overview
7.6.2 Recent strategies and developments:
7.6.2.1 Product Launches and Product Expansions:
7.7 Spirit Spine Holdings Corporation, Inc.
7.7.1 Company Overview
7.8 Johnson & Johnson (DePuy Synthes)
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental &Regional Analysis
7.8.4 Research & Development Expenses
7.8.5 Recent strategies and developments:
7.8.5.1 Partnerships, Collaborations, and Agreements:
7.8.5.2 Product Launches and Product Expansions:
7.8.5.3 Acquisition and Mergers:
7.9 Medtronic PLC
7.9.1 Company overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.9.5 Recent strategies and developments:
7.9.5.1 Product Launches and Product Expansions:
7.9.5.2 Acquisition and Mergers:
7.10. Stryker Corporation
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 Recent strategies and developments:
7.10.5.1 Partnerships, Collaborations, Approvals and Agreements:
7.10.5.2 Acquisition and Mergers:
For more information about this report visit https://www.researchandmarkets.com/r/b31sek
