Kyphoplasty Market: Current Analysis and Forecast (2020-2027)

Report Description

A rise in the cases of spinal cord injury owing to the prevalence of osteoarthritis among the elderly population coupled with the escalating motor vehicle accident and the falls, acts of violence, sports, and medical/surgical reasons are resulting in the rising number of cases of spinal fractures, due to which the market for kyphoplasty is witnessing an uptick. As per WHO, every year, around the world, between 250 000 and 500 000 people suffer a spinal cord injury (SCI). Also, more than 200 million people in the world got affected by osteoporosis and more than 8.9 million fractures occur each year, as revealed by the World Journal of Orthopedics. Also, as per a study 5,900,000 spinal surgeries happened in 2019 and It is forecasted that the volume of spinal surgery would grow around 8.4% CAGR during 2019-22.

Moreover, transforming healthcare sector and the advancement in technology coupled with the use of technologies such as IoT, AI, and robotics in the healthcare industry and rising awareness about advantages of kyphoplasty surgery such as shorter surgical time, recovery at a faster speed, discharge at the same day of the procedure, etc. are gaining end-users traction. Moreover, in a survey, it was found that successful patient outcomes following kyphoplasty are 72% Improvement in back pain, 59% Improvement in back function, and 58% improvement in the quality of life. Therefore, the demand for kyphoplasty is promulgating.

Change in lifestyle owing to the hectic and busy schedule has increased the spinal problems due to bad posture, long sitting hours, and unhealthy diet. As per the International Osteoporosis Foundation (IOF), 1 in 3 women over the age of 50 years and 1 in 5 men will experience osteoporotic fractures in their lifetime globally.  Furthermore, the rising geriatric population which is more prone to the osteoporotic problem is expected to add pace to the surging demand for the kyphoplasty market in the forecast period as well. In a study, it was revealed that by 2020, the impact of an aging and obese population is expected to double the number of people with OA.

The burden of Traumatic Spine Injury (Persons Affected Per Annum) in the WHO region

The global kyphoplasty market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are Merit medical systems, Stryker Corporation, Medtronic, CareFusion, Alphatec Spine, Osseon LLC, DePuy Synthes, Globus Medical, Zimmer Biomet, and Parallax health sciences. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst product type, Balloon segment holds the major share”

Based on product type, the market is fragmented into Balloon, Cement Mixing, Needle, X-Ray Device, and Delivery Devices. The balloon segment dominated the market with a share of 39.8% in 2019 and is expected to maintain its dominance during the forecast period on account of the increased consumer preference for balloon kyphoplasty owing to the advantages such as less pain, quick procedure, etc.

“Amongst application type, spinal fractures is expected to dominate the market during the analyzed period”

Based on the market segment by application type, the market is segmented into kyphosis, spinal fractures, and vertebral alignment restoration. In 2019, Spinal fractures grabbed the major market share and accounted for 43.1% of the market revenue share. Surging cases of road accidents and the prevalence of spine-related problems resulting in the demand for the growing market of spinal fracture kyphosis market. Moreover, the kyphosis segment is expected to grow with a CAGR of 14.8% during the forecast period of 2021-27.

“Amongst end-user type, hospital segment accounts for the highest revenue share”

Based on the market segment by end-user type, the market is segmented into hospitals, clinics, and ambulatory surgical centers. In 2019, the hospital segment accounted for the highest revenue share by capturing 61.4% of the total market. However, the ambulatory surgical centers segment is expected to grow at a CAGR of 15.6% during the forecast period of 2021-27.

“North America represents one of the largest markets of kyphoplasty market”

For a better understanding of the market dynamics of the kyphoplasty market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, 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 Rest of APAC) and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 0.7 Billion in 2019 owing to the escalating healthcare IT investment in the countries such as the U.S and Canada. In addition, the presence of well-established players and the latest technology upgraded products and services make the region dominant across the globe.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Kyphoplasty Market were the three major steps undertaken to create and analyze the adoption of Kyphoplasty across healthcare industry in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the kyphoplasty market. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the kyphoplasty through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the kyphoplasty Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type, applications, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of kyphoplasty in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of kyphoplasty. Further, we conducted factor analysis using dependent and independent variables such as the growth of the healthcare industry, surging prevalence of diseases, Investments, etc. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the kyphoplasty sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the kyphoplasty market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of kyphoplasty across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the kyphoplasty market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the kyphoplasty market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the Kyphoplasty market.

The main objective of the Kyphoplasty Market Study

The current & future market trends of kyphoplasty were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of kyphoplasty in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and their subtypes
• Define and analysis of the regulatory framework for the kyphoplasty industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the kyphoplasty market for the major region
• Major regions studied in the report include North America (the U.S and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, Australia, and South Korea), and the Rest of the World
• Company profiles of the kyphoplasty market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry