The global kyphoplasty market is anticipated to witness significant growth through the projected period of 2020-2027 due to the increasing prevalence of osteoporosis and geriatric population. According to the International Osteoporosis Foundation, around 8.9 million fractures occur globally every year, i.e. one fracture every 3 seconds. Moreover, limitations associated with the traditional techniques and technological advancements by market participants is also anticipated to boost the market growth.
Based upon the product, the market is classified into balloon, needle, X-ray devices, cement mixing equipment, and delivery devices. The balloon segment is expected to garner the largest owing to growing number of technological advancements with advent of next-generation kyphoplasty balloons such as Arcadia by Merit Medical (2020) Kyphon Express II by Medtronic (2014), enabling efficient procedures in the market.
On the basis of application, the market is segmented into vertebral alignment restoration, spinal fractures, and correction of the local kyphosis. The spinal fractures segment is estimated to account for the largest market share due to high adoption of kyphoplasty procedures for this application. According to the United States Bone and Joint Initiative, each year approximately 36,000 traumatic spine fractures occur.
The global kyphoplasty market, based on indication is bifurcated into osteoporosis and trauma. Increasing prevalence of osteoporosis and adoption of procedures is expected to lead the segment to its large market share over the other segment.
The end users market is divided into clinics, ambulatory surgical centers, hospitals, and others. Hospitals are the primary point-of-care for all kinds of health problems, due to which the segment is anticipated to hold the largest market size in the global market. North America held the major share owing to the rising prevalence of osteoporosis and high demand for minimally invasive surgeries. Europe is expected to hold the second largest market share owing to the increasing geriatric population in the region. On the other hand, Asia Pacific is likely to experience a healthy growth rate over the forecast period due to the rapidly developing healthcare infrastructure and high adoption of advanced technologies.
The major kyphoplasty market players include Stryker Corporation, Medtronic, BMK Global Medical Company, CareFusion, Taeyeon Medical Co., Ltd, DePuy Synthes (Johnson & Johnson Services, Inc.), iMEDICOM, Alphatec Spine, Inc., Osseon LLC, G21 Srl, Smith + Nephew, and Zimmer Biomet. These players are involved in adoption of many strategic initiatives such as new product launches and collaborations to sustain in the rapidly growing kyphoplasty market. For instance, in May 2020, Medtronic launched its Kyphon Assist Directional Cannula in the U.S. for assisting its other kyphoplasty products for the treatment of vertebral compression fractures caused due to osteoporosis, benign lesions, or cancer. With this, the company expanded its product portfolio.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPA norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."