Global Kyphoplasty Market to Grow at a CAGR of 5.28% During 2022 –2030

Introduction

The global kyphoplasty market was valued at USD 605.61 million in 2021 and is projected to reach USD 1013.09 million by 2030 at a CAGR of 5.28% from 2022 to 2030.

Kyphoplasty is a form of Vertebral Augmentation used to treat Compression Fractures. This surgical procedure is used to alleviate the pain caused by a spinal fracture, stabilize the bone, and restore the height of the vertebral body that was lost due to the compression fracture. In vertebroplasty, bone cement, also known as polymethyl-methacrylate, is injected into the fractured bone through a hollow needle. Before filling the space with bone cement, a balloon is inserted and inflated to restore the compressed vertebra to its normal height during kyphoplasty. Kyphoplasty is a modern spine surgical procedure for stabilizing vertebral compression fractures caused by osteoporosis, cancer, and other conditions.

Market Dynamics

Balloon kyphoplasty is driving the market

More than 1 million fractures have been treated using the balloon kyphoplasty technique for over 20 years. In clinical studies, balloon kyphoplasty has been shown to restore vertebral body height and reduce vertebral body deformity more effectively than non-surgical procedures. In addition, improved quality of life, mobility, and ability to perform daily activities reduced back pain, making this procedure more advantageous than others, which in turn encourages market expansion.

rising expenditure and increasing spine fractures are driving the market

Increasing demand for minimally invasive surgical procedures in orthopedics, rising health expenditures, and improved health reimbursements are expected to drive market growth over the forecast period. For instance, in September 2020, the U.S. Centers for Medicare & Medicaid Services (CMS) approved a new technology add-on payment for the SpineJack implantable fracture reduction system as part of the 2021 inpatient prospective payment system.

It is anticipated that an increase in the number of spine fractures will also contribute to the expansion of the global kyphoplasty market. The Centers for Medicare & Medicaid Services (CMS) is concentrating its efforts on enhancing price transparency, holding hospitals accountable, and ensuring that consumers have the information they need to make fully informed decisions about their health care. However, product recalls such as the Device Recall of KyphX HVR Bone Cement may hinder market expansion.

Research and developments will bring in new opportunities

The increasing number of research and development activities will create opportunities for the expansion of the kyphoplasty market.

In addition, an increase in the introduction of new products, as well as an increase in collaborations and the number of emerging markets, will create growth opportunities for the kyphoplasty market over the forecast period. In addition, manufacturers' increasing emphasis on adopting cutting-edge technologies will increase demand for kyphoplasty in the coming years.

Regional Analysis

North America had the largest revenue share in 2021 as a result of high levels of awareness and improved healthcare infrastructure. The dominance is attributable to the increasing prevalence of osteoporosis, back pain, and vertebral fractures. This disease has been observed more frequently in women than men in the region. The increase in kyphoplasty usage and the prevalence of vertebral compression fractures are driving the market expansion. Key companies such as Medtronic and Stryker, as well as major revenue contributors, are currently engaging in acquisitions and partnerships to drive market growth.

The Asia-Pacific market is anticipated to experience the most rapid expansion due to the region's expanding patient population and expanding healthcare infrastructure. The growing older population and rising acceptance of the procedure are contributing to the expansion of the market. Similarly, factors such as the availability of advanced methods in fracture stabilization, the limitations of the conventional approach, the increasing incidence of vertebral compression fracture, the rising cases of osteoporosis, the improvement in health care infrastructure, and the increase in patient compliance as a result of technological advancements are also driving the Asia-Pacific market.

Key Highlights

• The global Kyphoplasty Market was valued at USD 605.61 million in 2021 and is projected to reach USD 1013.09 million by 2030 at a CAGR of 5.28% from 2022 to 2030.
• Balloon kyphoplasty and increased expenditure are driving the market.
• This market can be segmented on the basis of product, application, indication, end-users, regions, and competitors.
• By 2030, North America is anticipated to have the largest market share, with the Asia Pacific emerging as the fastest-growing market.

Competitive Players

Competitors Analysis

Some of the prominent players in the global kyphoplasty market include Stryker, Medtronic Inc., Smith & Nephew, MicroPort Scientific Corporation, DePuy Synthes (Johnson & Johnson Services Inc.), IZI Medical Products, CareFusion, Merit Medical Systems, joimax GmbH, G21 S.r.l., Joline GmbH & Co. KG, Seawon MediTech, Hensler Surgical Products, Taeyeon Medical Co., Ltd., iMEDICOM, Jiangsu ChangMei Medtech Co., Ltd.

Recent Developments

Recent Developments

• Medtronic plc announced the U.S. release of the New Directional Cannula for Balloon Kyphoplasty in May 2021. From March to July of 2020, hospitals in the United States reported a decrease in operating room volume of 35 percent, according to a study. Nonetheless, the market for robotic spinal surgery expanded during the COVID era. In addition, the demand for medical instruments and equipment for spinal surgery has decreased significantly.
• IZI Medical will release an Osteo-site Vertebral Balloon for vertebral augmentation in August of 2020. The Osteo-site Vertebral Balloon is designed to create a cavity inside the vertebral body. This launch contributed to the company's product portfolio expansion.
• Joline GmbH & Co. KG was granted U.S. FDA approval for Joline Kyphoplasty products to treat vertebral compression fractures in June 2020.

Segmentation

Market Segmentation

Product Outlook

• Balloon Catheters
• Bone Access Devices
• Cement Application Products
• Bone Cement
• Cement Mixing Systems
• Instruments

Application Outlook

• Vertebral Alignment Restoration
• Spinal Fractures
• Kyphosis

Indication Outlook

• Osteoporosis
• Others

End-Use Outlook

• Hospitals & Clinics
• Ambulatory Surgical Centers

Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa