Kyphoplasty Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2027)
As per the research report, 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.
The prevalence of osteoarthritis in the elderly population, along with the number of motor vehicle accidents and falls, acts of abuse, athletics, and medical/surgical causes, is leading to an increase in the number of cases of spinal fractures, which is driving up the demand for kyphoplasty. According to the World Health Organization, between 250 000 and 500 000 individuals worldwide suffer from spinal cord injuries each year (SCI). According to the World Journal of Orthopaedics, more than 200 million individuals worldwide have osteoporosis, and more than 8.9 million fractures occur each year. According to a survey, 5,900,000 spinal operations were performed in 2019 and the amount of spinal surgery is expected to rise at an annual rate of 8.4% between 2019 and 2022.
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Furthermore, the changing healthcare market and advancements of technology, such as the use of IoT, AI, and robotics in the healthcare industry, as well as growing understanding of the benefits of kyphoplasty surgery, such as shorter surgical time, quicker healing, discharge on the same day of the operation, and so on, are gaining momentum with end-users. Furthermore, according to a survey, good patient benefits following kyphoplasty include a 72 percent reduction in back pain, a 59 percent increase in back function, and a 58 percent increase in quality of life. As a result, the market for kyphoplasty is increasing.
Thanks to a change in lifestyle brought on by a hectic and busy schedule, spinal issues have risen as a result of poor balance, long sitting hours, and an inadequate diet. According to the International Osteoporosis Foundation (IOF), one of every three women over the age of 50 and one of every five men will suffer an osteoporotic fracture during their lifetime. Furthermore, the growing geriatric population, which is more susceptible to osteoporosis, is expected to fuel the kyphoplasty market during the forecast era. According to one report, the effects of an ageing and obese population would double the number of people with OA by 2020.
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Insights Presented in the Report
“Amongst product type, Balloon segment holds the major share”
The market is segmented into Balloon, Cement Mixing, Needle, X-Ray Device, and Delivery Devices based on product form. The balloon segment dominated the market in 2019, with a share of 39.8%, and is projected to continue to do so throughout the forecast era, owing to improved customer demand for balloon kyphoplasty due to benefits such as less discomfort, a faster treatment, and so on.
“Amongst application type, spinal fractures are expected to dominate the market during the analyzed period”
The market is divided into three segments based on application type: kyphosis, spinal injuries, and vertebral alignment reconstruction. Spinal fractures commanded the largest market share in 2019, accounting for 43.1 percent of total sales. As a result of an increase in the number of road crashes and the prevalence of spine-related complications, demand for the spinal fracture kyphosis market is increasing. Furthermore, during the forecast duration of 2021-2027, the kyphosis segment is projected to rise at a CAGR of 14.8 percent.
“Amongst end-user type, hospital segment accounts for the highest revenue share”
The market is divided into three segments based on end-user type: hospitals, clinics, and ambulatory surgical centres. The hospital segment had the largest sales share in 2019, accounting for 61.4 percent of the overall market. During the forecast period of 2021-2027, however, the ambulatory surgical centres segment is projected to expand at a CAGR of 15.6 percent.
“North America represents one of the largest markets of kyphoplasty market”
A systematic research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and the Rest of APAC), and the Rest of the World, to get a greater understanding of the business dynamics of the kyphoplasty market. Because of increased healthcare IT spending in countries such as the United States and Canada, North America led the industry and delivered revenue of US$ 0.7 billion in 2019. Furthermore, the region's dominance is due to the participation of long-established players as well as the new technologically updated goods and services.
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