(MENAFN- EIN Presswire) Vertebral Compression Fracture Devices Market: 2030
PORTLAND, OREGON, UNITED STATES, July 19, 2023/einpresswire.com / -- As per the report published by Allied Market Research, the global vertebral compression fracture devices market was accounted for $866.7 million in 2020, and is estimated to reach $1.90 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Increasing Incidence of Vertebral Compression Fractures: The market for VCF devices has been witnessing growth due to the increasing incidence of osteoporosis and osteoporotic vertebral fractures, especially in the aging population. Osteoporosis weakens bones, making them more susceptible to fractures, and VCF is a common complication of this condition.
Minimally Invasive Procedures: Minimally invasive surgical techniques have gained popularity in recent years, leading to a rise in demand for VCF devices that can be used in these procedures. Minimally invasive approaches involve smaller incisions, reduced hospital stays, and quicker recovery times, driving the adoption of VCF devices that facilitate these techniques.
Balloon Kyphoplasty and Vertebroplasty: Balloon kyphoplasty and vertebroplasty are two commonly used procedures for treating vertebral compression fractures. The demand for VCF devices used in these procedures has been increasing due to their effectiveness in stabilizing the fractured vertebrae and reducing pain.
Technological Advancements: The VCF devices market has seen continuous advancements in technology to improve the effectiveness and safety of procedures. Innovations in materials, design, and imaging technologies have contributed to better outcomes for patients and increased adoption of these devices.
Growing Geriatric Population: The aging global population is a significant factor driving the demand for VCF devices. As the elderly population grows, the incidence of osteoporosis-related fractures, including vertebral compression fractures, is expected to rise, leading to increased demand for VCF devices.
Reimbursement and Regulatory Challenges: Reimbursement policies and regulatory approvals can influence the adoption of VCF devices. Market growth may be impacted by changes in reimbursement rates or delays in obtaining regulatory approvals for new products.
Competitive Landscape: The VCF devices market is competitive, with several established medical device manufacturers and emerging companies offering a range of products. Companies are focusing on product development, strategic partnerships, and mergers and acquisitions to strengthen their market position.
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Market Drivers:
Aging Population: The global population has been experiencing a demographic shift, with an increasing number of elderly individuals. With age, the risk of osteoporosis and vertebral compression fractures rises significantly. The growing aging population has been a major driver for the demand of VCF devices as it increases the number of potential patients.
Rising Incidence of Osteoporosis: Osteoporosis is a major risk factor for vertebral compression fractures. As the prevalence of osteoporosis increases, so does the incidence of related vertebral compression fractures. This has led to a higher demand for VCF devices to treat these fractures effectively.
Market Segmentation:
Product Type:
a. Balloon Kyphoplasty Devices: These devices use a balloon to create a cavity in the fractured vertebra, which is then filled with bone cement to stabilize and restore height to the vertebra.
b. Vertebroplasty Devices: Vertebroplasty devices involve the direct injection of bone cement into the fractured vertebra to stabilize it and provide pain relief.
Approach Type:
a. Minimally Invasive Devices: Devices used in minimally invasive procedures, such as balloon kyphoplasty and percutaneous vertebroplasty, which involve smaller incisions and reduced tissue disruption.
b. Open Surgical Devices: Traditional devices used in open surgical procedures for vertebral compression fractures.
End-User:
a. Hospitals: VCF devices are widely used in hospitals, where complex fractures are often treated, and a variety of resources are available for patient care.
b. Ambulatory Surgical Centers (ASCs): Some VCF procedures can be performed in ASCs, which offer convenience and cost-effectiveness for certain patients.
Application:
a. Osteoporotic Fractures: Devices used specifically for treating vertebral compression fractures resulting from osteoporosis.
b. Traumatic Fractures: Devices used to address fractures caused by traumatic injuries, such as accidents or falls.
Region:
a. North America: The VCF devices market in the United States and Canada.
b. Europe: The VCF devices market in European countries.
c. Asia-Pacific: The VCF devices market in countries across the Asia-Pacific region.
d. Rest of the World (RoW): Other regions not covered in the above segments.
Material Type:
a. Titanium-based Devices
b. Polymer-based Devices
c. Stainless Steel-based Devices
d. Others
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Competitive Landscape
The global vertebral compression fracture devices market report includes an in-depth analysis of the prime market players such as Alphatec Holdings, Inc. Globus Medical, Inc., Benvenue Medical, Medtronic plc, Johnson & Johnson (Depuy Synthes), Osseon LLC, Orthovita, Inc., VEXIM SA, Stryker Corporation, and Zimmer Biomet Holdings, Inc.
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