Author: Himanshu Patni
21 November 2022
The Vertebral Augmentation Market is expected to grow at a steady rate of around 6% during the forecast period. Vertebral augmentation is a category of surgical procedures that are used to stabilize a fractured vertebra with the goal of reducing the patient’s pain. These procedures are termed vertebroplasty, kyphoplasty, or radiofrequency vertebral augmentation. In the vertebral augmentation procedure, a small instrument is inserted into the collapsed vertebra, and cement is inserted for support which stabilizes the fracture. Moreover, the rising prevalence of vertebral compression fracture increases the risk of spinal deformities and reduces the life of the patient. For instance, according to the American Association of Neurological Surgeons (AANS), vertebral compression fractures (VCFs) are the most common fracture in patients with osteoporosis, affecting about 750,000 people annually.
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Based on the product, the market is segmented into vertebroplasty device and kyphoplasty device. vertebroplasty device category to witness a significant growth rate during the forecast period owing to the rising geriatric population or high increasing cases of spine fractures and back pain at an exponential rate which needs early diagnosis, these factors are driving the growth rate of the market.
On the basis of end-user, the market is categorized into hospitals, ambulatory surgery centers, and others. Among these, the hospitals’ category holds a significant market share during the forecast period. This is mainly due to the increasing patient pool and rising spinal injuries. In addition, some spine procedures, such as spinal implant insertions, can only be done through open surgeries which will perform only in hospitals & ambulatory surgery centers which is another major factor that supports the growth of the segment.
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For a better understanding of the market adoption of the vertebral augmentation industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increase in the adoption of spinal implants and devices in surgery, the rise in procedure volumes from a rapidly aging population, and an increase in the incidence of spinal stenosis. In addition, improvement in healthcare expenditure further boosts sales of implants and devices in the region. For instance, approximately 291,000 Americans are spinal cord injured. Out of which, 39.5% of spinal cord injured individuals are considered paraplegic and 59.9% quadriplegic. Besides this, around 17,730 new injuries occur each year. 78% of these new cases are male. Nearly half (47.6%) of all injuries occur between the ages of 16 and 30.
Some of the major players operating in the market include Medtronic Plc, Johnson & Johnson, Alphatec Spine Inc., Stryker Corporation, Globus Medical Inc., Merit Medical Systems Inc., IZI Medical Products LLC, RONTIS, Zavation LLC, MicroPort Scientific Corporation.
Global Vertebral Augmentation Market Segmentation
Market Insight, by Product
Market Insight, by End-User
Market Insight, by Region
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