Global Kyphoplasty Market Forecast 2020-2027

Posted by Sonika on January 27th, 2021

Bharat Book Bureau Provides the Trending Market Research Report on “Global Kyphoplasty Market: Current Analysis and Forecast (2020-2027) ”under Healthcare Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.

The surging prevalence of spinal cord injuries coupled with the rising geriatric population and other spine-related problems resulting in the need for spinal treatments. As per WHO, around 250 000 to 500 000 people globally suffer a spinal cord injury (SCI) every year. Most of the spinal cord injuries happen due to preventable causes such as road traffic crashes, falls, or violence, etc. Kyphoplasty is a vertebral augmentation surgery that is used to treat a spinal compression fracture. These fractures also occur because of conditions such as osteoporosis or trauma. Osteoporotic vertebral fractures have associations with increased morbidity. Kyphoplasty procedure provides pain relief and improves spinal support function. Moreover, the benefits of kyphoplasty such as less pain, easy and quick procedure, and quick recovery are acting as a growth catalyst to the market. As per a survey by the US National Library of Medicine
National Institutes of Health, out of a total of 151 people, 144 responded that e-procedure to inject cement into your fracture tolerable while 7 responded that the procedure was not tolerable. Also, 100 people said that they would have the same procedure again while 24 said no and 27 were not sure about that. Also, in a survey, around 57% out of a total of 310 people are satisfied or better with the surgery for the treatment of back pain.
Escalating the aging population globally that are suffering from osteoporosis is also supporting the growth of the demand for kyphoplasty surgery. As per a report by United Nations, “There were 703 million persons aged 65 years or over in the world in 2019 and the number of older persons is projected to double to 1.5 billion in 2050”. Also, half of the world's 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.
According to the National Spinal Cord Injury Statistical Center, the distribution of the causes of spinal cord injury has changed drastically from 2015 to 2019. Around 39.3% of the spinal cord injuries are 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.
Some Stats related to people with Spinal Cord Injury are:
• Every year, around the world, between 250,000 and 500,000 people suffer a spinal cord injury (SCI)
• Up to 90% of cases are due to traumatic causes, though the proportion of non-traumatic spinal cord injury appears to be growing
• People with spinal cord injury are 2 to 5 times more likely to die prematurely than people without SCI.
• About of new SCI cases are 78% male, 22% female
• The highest per capita rate of injury occurs between ages 16-30
• The average age at injury - 43
• Motor vehicle accidents are the leading cause of SCI (39.3%), followed by falls (31.8%), acts of violence (13.5%), sports (8%), medical/surgical (4.3%), and other (3.1%)
• The most common cause of death is a respiratory ailment, whereas, in the past, it was renal failure. An increasing number of people with SCI are dying of unrelated causes such as cancer or cardiovascular disease, like that of the general population

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Based on the product type, the kyphoplasty market is bifurcated into the balloon, Cement Mixing, Needle, X-Ray devices, and Delivery devices. Products such as needles and cement Mixing are common for both Vertebroplasty and Kyphoplasty procedures. While X-Ray and Delivery accessories are required for any surgery. The balloon segment generated revenue of US$ 512 million in 2019 and is expected to grow at the highest CAGR of 14.06% during the forecast period to reach a market valuation of US$ 1.44 billion by 2027.
Based on the application, the kyphoplasty market is bifurcated to Kyphosis, Spinal Fractures, and Vertebral Alignment Restoration. Surging cases of road accidents and escalating aging population across the globe resulting in the demand for kyphoplasty surgery. The Spinal fracture segment captured the major market share and account for approximately 43.12% in the global kyphoplasty market.
For a better understanding of the market penetration of kyphoplasty, the market is analyzed based on its worldwide presence in the region such as North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), and Rest of World. North America constitutes a major market for the kyphoplasty industry. Some of the major players operating in the market include Stryker Corporation, Medtronic, CareFusion, Alphatec Spine, Osseon LLC, DePuy Synthes (Johnson & Johnson Services), Globus Medical, Zimmer Biomet, etc.
The global kyphoplasty market was valued at US$ 1.29 billion in 2019 and is projected to expand significantly with a CAGR of 12.66% from 2021-2027. The global kyphoplasty market is expected to witness a boost, owing to the escalating number of patients with spine-related problems coupled with the surging prevalence of orthopedic. Also, the adoption of advancements in technologies in the healthcare sector is contributing to the demand for kyphoplasty.

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