Vertebral Compression Fracture Devices Market expected to reach $1.909 Billion by 2030

According to a new report published by Allied Market Research, titled, “Global Vertebral Compression Fracture Devices Market by Product Type and Region: Global Opportunity Analysis and Industry Forecast, 2020–2030," The global vertebral compression fracture devices market 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. Vertebral compression fracture is a fracture that occurs because of compression of a bone in the spine. It commonly occurs in the vertebrate that have been weakened by osteoporosis or by other diseases that weaken the bone. The fracture occurs when the bone has deteriorated to the point that it can no longer support the spinal column in daily activities. The treatment procedure requires various types of devices for the procedures like vertebroplasty and balloon kyphoplasty.

The vertebroplasty procedure involves devices for injecting cement in the fractured vertebral body to achieve immediate pain relief and stability. Kyphoplasty involves the devices used for creating the cavity within the fractured vertebral body and also to inject the medical-grade bone cement into that cavity.

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.

The vertebral compression fracture devices market is segmented on the basis on product type, surgery, and region. By product type, the market is bifurcated into balloon kyphoplasty devices and vertebroplasty devices. By surgery, the market is divided into open spine surgery and minimally invasive spine surgery. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The COVID-19 pandemic is an unprecedented global public health challenge and is anticipated to have a negative impact on the vertebral compression fracture devices market. The COVID-19 pandemic and subsequent economic slowdown has materially impacted the demand for vertebral compression fracture devices, which are used in procedures that are considered elective for the treatment.

On the basis of product type, the vertebral compression fracture devices market is categorized into balloon kyphoplasty devices and vertebroplasty devices. The balloon kyphoplasty devices segment is expected to gain highest revenue during the forecast period. This is attributed to the surge in incidences of osteoporosis & arthritis. In addition, the boost in number of geriatric population would propel the market growth in the next few years. However, vertebroplasty segment is expected to generate significant revenue shares in the vertebral compression fracture market.

On the basis of surgery, the vertebral compression fracture market is classified into open spine surgery and minimally invasive spine surgery. The minimally invasive spine surgery segment is anticipated to gain the highest revenue during the forecast period, owing to the increase in incidences of spinal disorders which needs early diagnosis. In addition, the growing awareness among the population about the procedures would help the segment generate higher revenue shares in the coming years.

North America is constituted to have highest market share of the global vertebral compression fracture devices market in 2020, followed by the other sectors. The larger share of the North America region can be attributed to the factors such as ease of availability of the devices and services across developing countries, rise in health awareness among the people. Overall, it is projected that the need for vertebral compression fracture devices in developing and developed regions of North America would rise sharply in the coming years.

Key Findings Of The Study

• By product type, the balloon kyphoplasty devices segment was the highest contributor to the market, with $743.8 million in 2020, and is estimated to reach $1,694.90 million by 2030, at a CAGR of 8.50%.
• By surgery, the minimally invasive spine surgery segment was the highest contributor to the market, with $777.90 million in 2020, and is estimated to reach $1,791.40 million by 2030, at a CAGR of 8.60%.
• North America is expected to be the fastest growing region, registering a CAGR of 7.50% during the forecast period.

The key players operating in the global vertebral compression fracture devices  market include Alphatec Holdings, Inc. Benvenue Medical, Globus Medical, Inc., Johnson & Johnson (Depuy Synthes), Medtronic plc, Orthovita, Inc., Osseon LLC, Stryker Corporation, VEXIM SA, Zimmer Biomet Holdings, Inc.