Factors that drive the growth of the global vertebral compression fracture devices market include rising awareness of vertebral compression fracture devices, along with an increase in physician training. Moreover, increase in the incidences of spinal disorders, lifestyles of the working population are also increase the growth of the market. However, the risk associated with post-surgical complications, that include hemorrhage and vertebral posterior element fracture, and stringent regulatory approval procedures are expected to hamper the growth of the vertebral compression fracture devices market.
The global vertebral compression fracture devices market size was valued at $866.70 million in 2020, and is projected to reach $1,909.40 million by 2030, registering a CAGR of 8.10% from 2021 to 2030.
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Rise in the geriatric population, shift toward minimally invasive spine procedures, and surge in prevalence of spine disorders have boosted the growth of the global vertebral compression fracture devices market. However, unfavorable reimbursement scenarios hinder the market growth. On the contrary, untapped potential in the emerging market is expected to open new opportunities for the market players in the future.
Covid-19 scenario:
The Covid-19 pandemic presented unprecedented challenges in the healthcare industry and had a negative impact on the demand for vertebral compression fracture devices.
The economic slowdown and prolonged pandemic has impacted the demand for vertebral compression fracture devices that are used in surgical procedures that are considered elective.
Rise in incidence of osteoporosis & arthritis, growth in patient awareness about advancements in spinal surgeries, such as artificial disc replacement, increase in geriatric population, rise in awareness of vertebral compression fracture devices, and increase in physician training are the factors that boost the growth of the market. However, risks associated with post-surgical complications, that include hemorrhage and vertebral posterior element fracture, and stringent regulatory approval procedures are expected to hamper the growth of vertebral compression fracture devices market.
Based on product type, the balloon kyphoplasty segment held the largest share in 2020, accounting for more than four-fifths of the market. Moreover, the segment is projected to manifest the highest CAGR of 8.5% during the forecast period. The report includes an analysis of the vertebroplasty segment.
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On the basis of diseases, the minimally invasive spine surgery segment held the lion’s share in 2020, contributing to nearly 90% of the market. Moreover, the segment is estimated to portray the highest CAGR of 8.6% from 2021 to 2030. The report includes an analysis of the open spine surgery segment.
The report offers an analysis of the global vertebral compression fracture devices market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly three-fifths of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 10.5% during the forecast period.
Key Market Players
ALPHATEC HOLDINGS INC.
BENVENUE MEDICAL INC.
GLOBUS MEDICAL, INC.
JOHNSON & JOHNSON (DEPUY SYNTHES)
MEDTRONIC PLC
MERIT MEDICAL SYSTEMS, INC.
SPINE WAVE INC.
SPIRIT SPINE HOLDINGS CORPORATION INC.
STRYKER CORPORATION
ZIMMER BIOMET HOLDINGS, INC.,
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Japan Vertebral Compression Fracture Devices Market
South Korea Vertebral Compression Fracture Devices Market
Singapore Vertebral Compression Fracture Devices Market
China Vertebral Compression Fracture Devices Market
Indonesia Vertebral Compression Fracture Devices Market
Australia Vertebral Compression Fracture Devices Market
Taiwan Vertebral Compression Fracture Devices Market
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