Global Kyphoplasty Market is expected to reach the market valuation of US$ 3.2 Billion by 2027 expanding at a reasonable CAGR of 14.5% during the forecast period (2021-2027) from US$ 1.2 Billion in 2019. Surging SCI (Spinal cord Injuries) owing to several reasons globally is leading to the demand for Kyphoplasty surgery. It is a vertebral augmentation surgery that is used to treat a spinal compression fracture. As per WHO, around 250,000 to 500,000 people every suffer a spinal cord injury (SCI), worldwide.
The various factors driving the Kyphoplasty market include the rising geriatric population, promulgating incidences of spinal cord injuries due to road traffic crashes, falls, or violence, etc. As per a report by the National Spinal Cord Injury Statistical Centre, approximately 39.3% of spinal cord injuries happen due to motor vehicle crashes while 31.8% are due to falls. Moreover, the average age at injury has moved from 29 years in the 1970s to 43 years in 2018. Also, over 50% global population aged 65 and older suffer from osteoarthritis, and 80% of people with symptomatic Osteoarthritis have limitations in movement, while 25% were not able to perform their normal daily activities, as revealed by United Nations.
Request for Sample of the report browse through - https://univdatos.com/request_form/form/351
The change in lifestyle coupled with the increasing adaptation of a sedentary lifestyle among end-users that led to the inactivity is resulting in high complications and risk for vertebral compression fracture. Also, a rise in healthcare expenditure by the government and the end-users are some of the key factors contributing to the growth of the market. Moreover, the preference for kyphoplasty surgery for the treatment owing to less pain, reduced number of visits after the surgical process, and fast recovery is promulgating the market across the globe. Also, proliferating demand for outpatient and nominal hostile procedures is the key contributing factor driving the growth of the market. In a study, it was found that in 2019 around 5,900,000 surgeries took place. However, the projected CAGR for 2019-22 is 8.4%, which is the second-highest after stereotactic radiosurgery. Moreover, more than 327,000 thoracolumbar fixation procedures were performed in 2018.
Based on product type, the market is fragmented into the balloon, cement mixing, needle, X-ray devices, delivery devices, etc., The balloon segment dominated the market in 2019 accounted for 39.79%, and is anticipated to maintain its dominance during the forecast period owing to the being the basic product that is required for the surgery. In kyphoplasty surgery, balloons are used to tenderly uplift the fractured vertebrae to return them to the correct position. Moreover, the launch of new balloons used in the surgery is acting as a growth catalyst to the industry. For instance: In 2020, Osteo-DSite Vertebral Balloon ("Osteo-Site Balloon") was launched by IZI Medical for vertebral augmentation.
The various applications where Kyphoplasty is being utilized include kyphosis, spinal fractures, and Vertebral Alignment Restoration. The spinal fractures segment dominated the market and accounted for 43.12% in 2019 and is anticipated to maintain its dominance during the analyzed period. However, the spinal fractures segment is expected to grow at the highest CAGR of 15.3% during the forecast period due to the rising number of patients with spinal cord injuries. As per the International Osteoporosis Foundation (IOF), Around 8.9 million people suffer from fractures every year and People with spinal cord injury are 2 to 5 times more likely to die prematurely than people without SCI.
For a detailed analysis of the end-user in Kyphoplasty Market browse through - https://univdatos.com/report/global-kyphoplasty-market-current-analysis-and-forecast-2020-2027
Based on end-user, the market is fragmented into hospitals, clinics, and ambulatory surgical centers.
The hospital segment dominated the market and generated revenue of US$ 0.79 Billion in 2019 owing to the surging investments by the healthcare facilities. As per a study by OCED, global health care spending as a share of gross domestic product (GDP) will likely remain at around 10.2 % through 2023.
Additionally, the report provides detailed initiatives that are being taken in the field of kyphoplasty. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), Rest of the World. North America dominated the market and generated revenue of US$ 0.7 billion in 2019 owing to the rising incidences of spine-related problems. According to the National Spinal Cord Injury Association, every year, an estimated 17,000 new SCIs occur in the U.S and as many as 450,000 people in the country are living with a spinal cord injury (SCI). Moreover, the presence of well-established global and regional players in the industry. However, Asia-Pacific is anticipated to witness the highest CAGR during the forecast period.
Merit Medical Systems, Stryker Corporation, Medtronic, CareFusion, Alphatec Spine, Osseon LLC, DePuy Synthes, Globus Medical, and Zimmer Biomet are some of the prominent players operating in the global kyphoplasty market. Several M&A’s along with partnerships have been undertaken by these players to develop kyphoplasty.
Global kyphoplasty Market Segmentation
Market Insight, by Product Type
Market Insight, by Application
Market Insight, by End-User
Market Insight, by Region
Top Company Profiles
The Kyphoplasty Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence the information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities, and detailed market segmentation.
- Bioenergy Market Report, Size Latest Report 2021 Segment by Manufacturers, Type, Applications and Dynamics with COVID-19 Impact Analysis