Global Vertebral Compression Fractures Devices Market Expected to Reach $1,109 Million by 2022 - Allied Market Research
PORTLAND, Oregon and PUNE, India, March 8, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Vertebral Compression Fractures Devices Market by Type and Surgery: Global Opportunity Analysis and Industry Forecast, 2014 - 2022," the global vertebral compression fractures devices market was valued at $748 million in 2015, and is projected to reach $1,109 million by 2022, registering a CAGR of 5.7% from 2016 to 2022.
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Vertebral compression fracture (VCF) generally occurs when the block-like part of a single bone of the spine (vertebra) is compressed due to trauma. The surgical approach for VCF treatment involves injecting cementing material in the fractured vertebra to provide immediate relief from pain and stability to the patient.
The vertebral compression fractures devices market is driven by factors such as advent of minimally invasive spine surgery techniques and rise in incidence of osteoporosis and arthritis. In addition, rise in geriatric population, short recovery period, low risk of infection, and shorter hospital stay are anticipated to boost the demand for VCF devices, globally. However, risk of post-surgical complications and stringent regulatory approval process hamper the market growth.
Balloon kyphoplasty devices segment is projected to maintain its leading trend in the global market, owing to the benefits offered by these procedures such as reduction of back pain and restoration of vertebral body height. Furthermore, vertebroplasty segment is anticipated to grow rapidly during the forecast period.
The global VCF devices market is segmented on the type of surgery into open spine surgery and minimally invasive spine surgery. The open spine surgery segment contributed the highest revenue in the global market in 2015. However, the MISS market is estimated to grow at the highest CAGR during the study period.
According to Deepa Tatkare, Senior Analyst, Healthcare Research, Allied Market Research, "The emergence of percutaneous vertebral augmentation procedures pose lucrative opportunities for key players in the VCF devices market. Percutaneous vertebral augmentation is preferred to other conventional techniques because of the associated benefits such as immediate, long-term pain relief and ideal treatment modality for osteoporotic VCF."
KEY FINDINGS OF VERTEBRAL COMPRESSION FRACTURES DEVICES MARKET :
- The vertebroplasty devices segment is projected to grow at a CAGR of 6.1% during the forecast period.
- The balloon kyphoplasty segment accounted for almost four-fifths share of the global vertebral compression fracture devices market in 2015.
- Japan is the major shareholder in the Asia-Pacific VCF devices market, accounting for more than one-third share in 2015.
- North America dominated the global market, accounting for two-thirds share in 2015.
North America is expected to dominate the global market throughout the forecast period, owing to increased adoption of VCF devices in surgery, surge in procedure volumes caused by rapidly aging population, and rise in incidence of spinal disorders and impairments, such as spinal stenosis. However, Asia-Pacific region is projected to grow rapidly, registering a CAGR of 6.7% during the forecast period. Improving healthcare infrastructures and increase in expenditures in the emerging markets, such as India and China to cater to the unmet medical needs in these countries have bolstered the market growth.
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The key players in the VCF devices market have focused on expanding their business operations in the fast-growing economies by adopting the product launch strategy. The major companies profiled in the report include Alphatec Holdings, Inc., Benvenue Medical, Depuy Synthes (Johnson & Johnson), Globus Medical, Inc., Medtronic plc, Orthovita, Inc., Osseon LLC, Stryker Corporation, VEXIM SA, and Zimmer Biomet Holdings, Inc.
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SOURCE Allied Market Research