The Asia Pacific Vertebral Compression Fracture Devices Market would witness market growth of 10.6% CAGR during the forecast period (2021-2027).
A vertebral compression fracture is very common among people aged 60 or above, and hence, the growing geriatric populations and the increasing cases of osteoporosis and arthritis would surge the growth & demand for the vertebral compression fracture devices in the market. Osteoporosis is among the key reasons behind vertebral compression fractures. Although, factors such as the possibilities of post-surgical complications including nerve root irritation, vertebral posterior element fracture, hemorrhage, and acceleration of osteoporosis; and unfavorable reimbursement environment would hamper the growth of the market.
There are two categories of vertebral compression fracture devices viz. vertebroplasty devices and balloon kyphoplasty devices. Both of these techniques are utilized to give relief to the patients from chronic back pain that is related to spinal compression fractures and numerous other health conditions. In addition, these techniques are being regulated by The National Institute for Health and Clinical Excellence (NICE). Percutaneous vertebroplasty (PVP) refers to the minimally invasive surgical process, which includes injecting cement-like material to support the crushed or collapsed bone. On the other hand, Kyphoplasty involves the process of inserting a balloon in the vertebrae followed by inflating the same to correct the disorder prior to injecting surgical cement. Additionally, vertebroplasty could be performed in a single day under conscious sedation, while kyphoplasty needs hospital admission of the patient.
For treating vertebral compression fractures, physicians opt for vertebroplasty and kyphoplasty, which are the minimally invasive procedures utilized to cure vertebral compression fractures. These fractures are very painful, which can also be the result of osteoporosis and other injuries. If this fracture gets untreated, it could result in the humped spine of the patient. Patients can quickly recover and decrease the chances of future fractures through the restoration of the vertebra height with a balloon and inserting cement into the fractured bone.
The increasing spending of the people on healthcare facilities and the high awareness among people regarding these diseases and treatment would accelerate the growth of the regional vertebral compression fracture devices market over the forecast period. Additionally, the growing population of older people along with the increasing prevalence of osteoporosis & arthritis would support the growth of the regional vertebral compression fracture devices market during the forecast period.
The Minimally invasive spine surgery market dominated the Malaysia Vertebral Compression Fracture Devices Market by Surgery in 2020, thereby, achieving a market value of $28.5 million by 2027. The Open spine surgery market is estimated to grow at a CAGR of 14.5% during (2021 - 2027).
Based on Product Type, the market is segmented into Vertebroplasty devices and Balloon Kyphoplasty Devices. Based on Surgery, the market is segmented into Minimally invasive spine surgery and Open spine surgery. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Vertebral Compression Fracture Devices Market is Projected to reach USD 1.9 Billion by 2027, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alphatec Holdings Inc., IZI Medical Products, LLC (Shore Capital Partners), Globus Medical, Inc., Johnson & Johnson (Depuy Synthes), Medtronic plc, Merit Medical Systems, Inc., Spine Wave Inc., Spirit Spine Holding Corporation Inc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
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