Vertebroplasty and Kyphoplasty Needles Market to reach US$ 1.4 Billion by 2032; Kyphoplasty Procedures account for Major Demand: Fact.MR
08 Jul 2022
VaccineAcquisition
“As people increasingly lead sedentary lifestyles, incidence of chronic back ailments and vertebral fractures is increasing exponentially. Hence, the need for surgical intervention is rising, propelling use of vertebroplasty and kyphoplasty needles,” says a Fact.MR analyst.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global vertebroplasty and kyphoplasty needles market is poised to flourish at a 4.8% value CAGR from 2022-2032. As per the report, the market is forecast to reach US$ 1.4 Billion by the end of the said period of assessment. Factors such as an ageing population, an increase in the incidence of vertebral fractures and rising technological advancements in vertebroplasty and kyphoplasty are driving the growth of the vertebroplasty and kyphoplasty needles market.
Sales of vertebroplasty and kyphoplasty needles experienced an uptick at a CAGR of 5.5% from 2015 to 2021, closing at US$ 829 Million. Globally, the kyphoplasty procedures segment dominated the vertebroplasty and kyphoplasty needles market due to increased individual awareness, various better pain reliefs, and fewer complications. North America has the largest market share and dominates the global vertebroplasty and kyphoplasty needles market due to advancements in vertebroplasty and kyphoplasty products, reimbursement, growing improved access to treatment, presence of well-developed health care facilities, increasing patient population, and increasing technological development.
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Asia Pacific is expected to expand at a rapid pace due to increased development of health care infrastructure by public and private hospitals, a rising geriatric population, and an increase in the incidence of chronic diseases, and increased demand for affordable care. However, factors such as the high cost of surgeries and the presence of existing devices are limiting the growth of the vertebroplasty and kyphoplasty needles market. The major opportunities for the vertebroplasty and kyphoplasty needles market include lowering the high cost of surgeries and increasing product development for vertebral fractures.
Key Takeaways from the Market Study
Global vertebroplasty and kyphoplasty needles market to reach US$ 874 Million by 2022-end
By end user, hospitals to emerge as the most promising segment, growing at a 4.3% CAGR
U.S is projected to lead the market, procuring US$ 499 Million while expanding at a CAGR of 4.6% until 2032
China is anticipated to grow at 4.3% CAGR during the forecast period, reaching US$ 102 Million
Japan and South Korea to register CAGRs worth 3.5% and 2.4% respectively from 2022-2032
Needles for kyphoplasty procedures to experience highest sales, at a CAGR of 4.4%
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Competitive Landscape
Mergers and acquisitions, as well as new product launches, are important strategic initiatives pursued by market participants. The key market players are Stryker Corporation; Medtronic; IZI Medical Products; Globus Medical, Inc.; Biopsybell. Recent Developments in the vertebroplasty and kyphoplasty needles market:
On 26th May 2022, Medtronic plc and DaVita Inc. announced their intention to establish a new, independent kidney care-focused medical device company ("NewCo" or "the Company") to improve patient treatment outcomes.
In September 2020, IZI Medical Products LLC received the CE Mark Approval in Europe for its KivaTM Vertebral Compression Fracture Treatment System. The systems is a unipedicular PEEK implant-based treatment solution for VCFs. The approval has permitted the company enhance its international distribution networks
Merit Medical Systems announced the launch of ReSolve® Thoracostomy Tray which contains all products required for performing a thoracostomy in April 2022. The ReSolve Thoracostomy Tray is the latest addition to Merit’s Vascular-Peripheral Drainage offering, a portfolio of interventional catheters, stent systems, drainage systems, bottles, procedure trays, sets, and complementary accessories
Key Segments Covered in the Vertebroplasty and Kyphoplasty Needles Industry Report
by Procedure :
Needles for Kyphoplasty Procedures
Needles for Vertebroplasty Procedures
Directional
Straight
by End User :
Hospitals
Ambulatory Surgical Centers
by Region :
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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Fact.MR, in its new offering, presents an unbiased analysis of the global vertebroplasty and kyphoplasty needles market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of procedure (vertebroplasty procedures and kyphoplasty procedures) and end user (hospitals and ambulatory surgical centers) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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