The global vertebral compression fracture devices market is expected to be driven over the forecast period by the growing incidences of arthritis and osteoporosis on account of an increasingly aging population, rising awareness of vertebral compression fracture devices, along with an increase in physician training. Rising incidences of compressed bones of the spine due to trauma, cancer, and others have led to the growth of the market. The bones of people with cancer and elderly people can break easily with no or little force, therefore, increasing the incidences of cases leading to an increase in demand for vertebral compression fracture devices.
The global vertebral compression fracture devices market is classified into vertebroplasty devices and balloon kyphoplasty devices. These techniques are used to relieve chronic back pain that is associated with spinal compression fractures and also various other conditions. Both of these procedures are being guided by The National Institute for Health and Clinical Excellence (NICE). Percutaneous vertebroplasty or PVP is a minimally invasive surgical procedure that involves injecting cement-like material to strengthen the crushed or collapsed bone. Kyphoplasty involves the insertion of a balloon in the vertebrae followed by inflating the same in order to correct the deformity before injecting surgical cement. Vertebroplasty can be carried out in a day under conscious sedation whereas kyphoplasty requires hospital admission.
The regional segments of the vertebral compression fracture devices market are North America, Europe, Asia Pacific, and Row. It is estimated that around 3,000 people in Ireland have osteoporosis. North America is expected to dominate the market followed by Europe owing to the rising population coupled with the existence of reimbursement policies. Asia Pacific is anticipated to witness a great rise in the market share of vertebral compression fracture devices due to the improved reimbursement coverage, new and advanced technologies, the rising population along with the awareness level, improvement in healthcare infrastructure and booming medical tourism due to the comparatively low cost of the procedures in emerging economies of Asia.
Major players of the market are Orthofix Interventional N.V., Amedica Corporation, CareFusion Corporation, DePuy Synthes, Alphatec Spine, Inc., Medtronic Inc., Cook Medical Inc., Orthovita, Inc., Pioneer Surgical Technology and Biomet, Inc. In October 2014, Zavation launched ZVPlasty to treat spinal fractures, which is designed to use in kyphoplasty or vertebroplasty procedures of vertebral compression fractures in thoracic or in the lumbar regions.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.