Vertebral Compression Fracture Devices Market
Number of pages: 100 | Report Format: PDF | Published date: March 31, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 895.5 million |
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Revenue Forecast in 2031 |
US$ 1,905.14 million |
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CAGR |
8.75% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Surgery, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global vertebral compression fracture devices market was valued at US$ 895.5 million in 2022 and is expected to register a revenue CAGR of 8.75% to reach US$ 1,905.14 million by 2031.
Vertebral Compression Fracture Devices Market Fundamentals
Vertebral compression fracture devices treat vertebral fractures, which develop when the vertebrae in the spine break or collapse. These fractures are frequently brought on due to osteoporosis and osteoarthritis, making the bones brittle and fragile. In the upcoming years, the global vertebral compression fracture devices market is expected to expand due to the rising burden of diseases, such as osteoporosis and osteoarthritis, and technological advances in orthopedics. These disorders are more frequent among aging people.
The marketing strategies of vertebral compression devices may include targeting elderly patients with osteoporosis or spinal fractures, promoting the benefits of pain relief and improved mobility, and partnering with healthcare providers to increase awareness and adoption of the devices. Additionally, many top manufacturers are increasingly using social media and online advertising to reach a broader audience and showcase the effectiveness of their products.
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Vertebral Compression Fracture Devices Market Dynamics
During the forecast period, the global vertebral compression fracture devices market revenue is expected to grow due to the rising number of osteoarthritis incidences. According to the Centers for Disease Control and Prevention (CDC), more than 32.5 million U.S. citizens suffer from degenerative joint disease or osteoarthritis, which may increase the demand for fractured vertebrae therapy. As obesity is one of the major risk factors for osteoarthritis, the probable increase in bone metastasis among cancer patients and the rising number of obese individuals would further fuel the market revenue growth during the forecast period. As the elderly population increases, the market revenue for vertebral compression devices is expected to increase. Moreover, during the forecast period, the global vertebral compression market is expected to rise with significant revenue growth due to the increased penetration of many startup companies with innovative medical devices focusing on patient comfort.
Vertebral compression fracture devices have revolutionized the treatment of this common condition, allowing for minimally invasive procedures with faster recovery times and improved outcomes. These devices include balloon kyphoplasty and vertebral augmentation systems that restore vertebral height and stability. These advancements in vertebral compression fracture devices have improved patient outcomes for vertebral compression fracture devices and have given this widespread ailment additional treatment choices. For instance, in August 2021, IZI Medical Products LLC introduced Vertefix HV Cement. This novel solution addresses the need for real-time flow visualization during cement injection for vertebroplasty and kyphoplasty procedures. Such activities will expand the use of cement and vertebral compression fracture devices, propelling market revenue growth.
Significant technical developments have occurred in veterinary imaging during the past few years. Imaging techniques employed in human medical contexts are rapidly adopted in the veterinary field. Such technological advancements are expected to aid in expanding the global Vertebral Compression Fracture Devices Market. For instance, the release of portable imaging equipment with rechargeable batteries, such as ultrasound machines, is anticipated to drive commercial rise during the forecast period.
However, one of the major restraining factors impeding revenue of the global vertebral compression fracture devices market is the high cost associated with these devices. Additionally, the lack of awareness and accessibility about these devices, particularly in developing countries, can limit the global vertebral compression fracture devices market revenue growth.
Vertebral Compression Fracture Devices Market Ecosystem
The global vertebral compression fracture devices market is analyzed from four perspectives: product type, surgery, end user, and region.
Vertebral Compression Fracture Devices Market by Product Type
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Based on product type, the global vertebral compression fracture devices market is segmented into vertebroplasty and balloon kyphoplasty.
The balloon kyphoplasty segment dominated the global vertebral compression fracture devices market with the largest revenue share in 2022. Balloon kyphoplasty devices are minimally invasive surgical tools for treating vertebral compression fractures. The rising trends of minimally invasive surgeries in vertebral fractures are increasing the adoption of balloon kyphoplasty devices for vertebral compression fractures. Moreover, balloon kyphoplasty devices offer several advantages over traditional methods of treating vertebral compression fractures, including improved pain relief, reduced need for pain medication, and fast recovery. Additionally, balloon kyphoplasty has a lower complication risk than other surgical interventions.
The vertebroplasty segment is expected to grow in terms of revenue share during the forecast period. This minimally invasive procedure is expected to become widely used as the aging population grows, increasing vertebral compression fractures. Additionally, advancements in technology and materials used for vertebroplasty may further improve the outcomes and reduce potential complications.
Vertebral Compression Fracture Devices Market by Surgery
Based on surgery, the global vertebral compression fracture devices market is segmented into minimally invasive spine surgery and open spine surgery.
The minimally invasive spine surgery segment dominates the global vertebral compression fracture devices market. Minimally invasive vertebral surgery is becoming increasingly popular due to its numerous benefits, such as reduced blood loss, shorter hospital stays, and faster recovery. Additionally, technological advancements have allowed more complex procedures to be performed using minimally invasive techniques. However, the cost of these procedures is still a concern for many patients and healthcare providers.
The open spine surgery segment revenue is expected to grow during the forecast period. Open spine surgery with vertebral compression fracture devices is increasingly becoming popular in recent years due to its effectiveness in treating spinal fractures and improving patient outcomes. As technology advances, further developments and improvements in this field will likely increase the segment's revenue growth during the forecast period.
Vertebral Compression Fracture Devices Market by End User
Based on end users, the global vertebral compression fracture devices market is segmented into hospitals, ambulatory surgical centers, trauma centers, and others.
The hospital segment accounts for most of the global vertebral compression fracture devices market revenue share. Vertebral compression fracture devices are medical instruments used to treat vertebral fractures caused by osteoporosis. These devices are frequently found in hospitals and are designed to support and stabilize the affected spine area. Many hospitals offer coverage on vertebral compression fracture devices, increasing their adoption. Moreover, these devices are used by trained medical professionals to help patients manage their pain and improve their mobility.
However, the trauma centers segment is expected to show lucrative revenue growth during the forecast period. Vertebral compression fractures are common injuries in trauma patients, and treatment options vary depending on the severity of the fracture. Trauma centers often use a multidisciplinary approach to manage these fractures, including pain management, bracing, physical therapy, and surgical interventions. Moreover, the availability of technologically advanced vertebral compression fracture devices in trauma centers is increasing.
Vertebral Compression Fracture Devices Market by Region
Based on the region, the global vertebral compression fracture devices market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America dominates the vertebral compression fracture devices market with the largest revenue share. The North American vertebral compression fracture devices market revenue is expected to grow significantly due to the increasing prevalence of osteoporosis and the rising geriatric population. Additionally, top players in the region are increasingly introducing technologically advanced devices for treating vertebral compression fractures, which are expected to drive revenue growth in the global vertebral compression fracture devices market. Fundings for research and development in vertebral compression devices will drive market revenue rapidly. For instance, in September 2022, the National Institute on Aging, a National Institutes of Health division, granted a Phase I Small Business Innovation Research (SBIR) grant to RevBio, Inc. With the help of this finance, the business will be able to develop Tetranite®, a proprietary bone adhesive technology, to treat spinal compression fractures. The osteoconductive bone glue may be given via a less invasive approach because it is injectable.
During the forecast period, the market revenue share for vertebral compression fracture devices in Europe is expected to expand due to the region's favorable medical policies and strong healthcare infrastructure. In addition, increasing healthcare standards and the prevalence of spinal surgeries in the region will increase the potential of the European vertebral compression fracture devices market.
Asia Pacific is expected to be the fastest-growing geographic region in the global vertebral compression fracture devices market revenue during the forecast period. This rise in revenue share is attributed to increasing surgical rates of vertebral surgeries. According to the National Library of Medicine, postmenopausal women are at a high risk of osteoporotic fractures in Asia Pacific because of their fast bone loss. The center states, by 2025, 50% of postmenopausal women will experience an osteoporosis-related fracture, with 15% experiencing a hip fracture and 25% experiencing spine deformities. Asia Pacific is expected to account for more than half of all osteoporotic, with postmenopausal women, especially at risk. Furthermore, rising funding by the government for research and development activities on vertebral compression fracture devices is another potential factor increasing the global vertebral compression fracture devices market.
Competitive Landscape in the Vertebral Compression Fracture Devices Market
The market for vertebral compression fracture devices is growing significantly as key companies use various growth strategies, including new launches, acquisitions, and partnerships. For instance, IZI Medical Products, LLC reports that The KivaTM vertebral compression fracture (VCF) therapy system received CE Mark clearance in Europe in September 2020. Kiva is a unipedicular PEEK implant-based therapeutic option for VCFs in the United States that has achieved clinical and commercial success.
Some of the prominent companies having the largest revenue Share In the global vertebral compression fracture devices market are,
Strategic Developments the Vertebral Compression Fracture Devices Market
The balloon kyphoplasty segment accounts for the largest global vertebral compression fracture devices market revenue share.
The expected revenue CAGR of the global vertebral compression fracture devices market is 3.75% during the forecast period.
Amedica Corporation, CareFusion Corporation, and DePuy Synthes are key players in the global vertebral compression fracture devices market.
The Asia Pacific region is expected to observe the highest global vertebral compression fracture devices market revenue growth during the forecast period.
The high cost of surgical equipment is one of the major reasons limiting the global vertebral compression fracture devices market to treat spinal compression fractures.
*Insights on financial performance are subject to the availability of information in the public domain