Minimally Invasive Vertebral Compression Fracture Repair Market is Set to Grow According to Latest Research
Severe trauma and osteoporosis are among the most common causes of vertebral collapse. This condition is known as a vertebral compression fracture (VCF) and it is more common in people suffering from low bone density or osteoporosis.
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Some of the most common symptoms indicating VCF include kyphosis and vertebral height loss over a period of time, limited spinal mobility, continued back pain for more than two or three weeks, deformity over a period of time, and disability. The rising incidence of VCF worldwide fuels demand from the global vertebral compression fracture repair market.
A new report released by Transparency Market Research, titled “Minimally Invasive Vertebral Compression Fracture Repair Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, provides insights into the various factors bolstering the demand for minimally invasive procedures of treating VCF.
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It is possible to cure vertebral compression fractures by administering pharmacological therapy and prolonged bed rest. Surgical invasion becomes crucial only in cases where medical therapies fail to cure VCF. The minimally invasive VCF repair technique has thus emerged as a preferred treatment method, particularly in cases where pharmacological therapies fail to mitigate the condition.
Kyphoplasty and vertebroplasty are the two most commonly used minimally invasive VCF repair techniques. In both processes, medical grade cement is injected in the fractured vertebra. While vertebrplasty has been around for a considerable time, kyphoplasty is an evolved form of the former. In kyphoplasty, a balloon is first inserted in the vertebral body and then inflated to restore its original height, which is followed by injecting medical grade cement. Vertebroplasty helps relieve pain and enhances the mobility in patients. However, kyphoplasty not only does the same but also restores the lost height of the fractured vertebra and also helps in curing kyphosis. Furthermore, over time, patients who underwent kyphoplasty experience less complications post-surgery compared to vertebroplasty.
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This has resulted in the higher rate of adoption of kyphoplasty procedures worldwide. Due to the high incidence of VCF in North America, the region accounts for the highest number of kyphoplasty procedures conducted in a year. Furthermore, the American Academy of Orthopedic Surgeons has also recommended the use of kyphoplasty for VCF, which subsequently fuels demand from the minimally invasive VCF repair market in the region. In 2011, the global market for kyphoplasty stood at US$555.4 mn. Europe has emerged as the second largest market for minimally invasive VCF repair. Due to increasing investment in the healthcare sector, Asia Pacific also exhibits lucrative prospects for the minimally invasive VCF repair market.
The global market for minimally invasive VCF repair is highly consolidated and marked by the presence of only a handful of companies holding over 80% of the market.
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The market is majorly dominated by the established players, who leverage their proprietary products and predatory growth tactics. Collaborative activities such as mergers and acquisitions, partnerships, and supply agreements, therefore, are common occurrences in the market. The existence of only a limited number of players has intensified the price competition in the market, which hinders the entry of new players.
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