The
global Kyphoplasty Market size is expected to reach USD
950.83 million by 2030, according to a new report by Grand View Research, Inc.
The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. The
increasing geriatric population is a key contributing factor attributable to
the market growth during the forecast period. Compression fractures affect many
individuals worldwide. Vertebral compression fractures (VCFs) are the most
common fracture in osteoporosis patients, affecting approximately 750,000
people every year. The occurrence of this condition gradually rises as people
age, with an estimated 40% of women aged 80 and older affected.
During
the outbreak of COVID-19, non-emergency procedures have significantly impacted
the Kyphoplasty market. As restrictions resulted in delays to a number of
procedures. Most nations have elevated restrictions on elective surgery. In
April 2020, the North American Spine Society (NASS) released a guidance
document comprehensive of clinical considerations and recommendations for surgeries
and procedures within the following classes: emergent, urgent, and elective. As
a result, it is estimated to drive market growth after the recommencement of
surgical procedures at full force.
The
COVID-19 pandemic has significantly affected the surgical and clinical practice
of spine surgeons across the globe. As per an Asia Pacific Spine Society (APSS)
Survey, the COVID-19 pandemic had changed spine surgeons’ clinical practices.
The study intended to examine the impact of the pandemic on the clinical
practices of spine surgeons within the Asia Pacific region. A total of 222
respondents from 19 nations completed the questionnaire. The study resulted in
the mean reduction of clinic volume for all nations was 48.1%. Thus, there was
a substantial decrease in the number of surgeries performed in Malaysia, Japan,
India, the Philippines, and South Korea.
Kyphoplasty
can offer faster pain relief and enhanced functional outcomes compared with
conservative treatment. Multiple myeloma, one of the cancer form weaken the
bones of the back, which leads to fractures and kyphosis. While continuous
sitting and bad posture can be the reason for the development of kyphosis. It
develops because sitting puts substantial pressure on the vertebrae, wearing
them down.
Increasing
demand for minimally invasive surgical procedures, improving health
reimbursement, technological advancement in new products, and increasing
incidence of osteoporosis are other factors expected to promote the market
growth during the forecast period. For instance, in September 2020, Stryker’s
SpineJack implantable fracture reduction system received the U.S. Centers for
Medicare & Medicaid Services (CMS) new technology add-on payment as part of
the 2021 inpatient prospective payment system.
Related Press
Release@ Kyphoplasty Market Report
Kyphoplasty Market Report Highlights
- Bone access
devices segment was the largest revenue-generating segment of the market
in 2021 owing to the rising prevalence of spine fractures, back pain
- Balloon
catheters segment is anticipated to witness lucrative growth. The
increasing number of technological advancements with the beginning of
next-generation kyphoplasty balloons supports segment growth
- On the basis
of application, the spinal fractures segment held the largest market share
and witnessed lucrative growth over the forecast period. Rising incidences
of compressed bones of the spine due to cancer, and trauma has led to the
growth of the segment
- Osteoporosis
segment dominated the overall market in terms of revenue in 2021. The
increasing prevalence of osteoporosis is expected to lead the segment to
its large market share over the other segment
- Hospitals
segment held the largest market share in 2021. Technologically-advanced
medical devices are being used extensively in hospitals, thus supports in
market growth
- North
America dominated in 2021 due to the presence of established manufacturers
and a well-developed reimbursement structure in the region
- The market
is highly competitive in nature as major players are focusing on the
product innovation strategies due to changing needs of surgeons and
patients
- 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. Thereby, expanding its product portfolio
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