Kyphoplasty Market
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Kyphoplasty Market size was valued at USD 635 million in 2022 and is estimated to account for USD 1.1 billion by 2032. Kyphoplasty is a minimally invasive surgical procedure used to treat vertebral compression fractures (VCFs) in the spine, often caused by osteoporosis or spinal tumors.
The procedure involves the insertion of a balloon device into the fractured vertebra that influences to create a cavity. The cavity is filled with orthopedic bone cement and casting materials to stabilize the fractured vertebra, restore vertebral height, and alleviate pain. Thus, kyphoplasty caters as a minimally invasive alternative to standard spine surgery for patients associated with vertebral compression fractures with less pain and improve mobility, thereby increasing the adoption rate.
Moreover, the rising prevalence of osteoporosis is further augmenting the market trends. For instance, according to International Osteoporosis Foundation estimated that osteoporosis affects one in five men and one in three women aged over 50 years across the world. Moreover, more than 200 million women are estimated to be affected by osteoporosis, including one-tenth of women over 60, one-fifth of women over 70, two-fifths of women over 80, and two-thirds of women over 90. As the incidence rate of osteoporosis continues to rise globally, the demand for orthopedic devices rises, thereby increasing the number of kyphoplasty procedures, accelerating industry expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Kyphoplasty Market Size in 2022: | USD 635 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 5.5 |
| 2023 Value Projection: | USD 1.1 Billion |
| Historical Data for: | 2018 to 2022 |
| No of Pages: | 328 |
| Tables, Charts & Figures: | 445 |
| Segments Covered: | Product, Application, Indication, End-use, and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The COVID-19 pandemic had a negative impact on the kyphoplasty market. The pandemic disrupted global supply chains that led to shortages of medical products, including kyphoplasty devices. This caused price fluctuations and delayed delivery times, which impacted the availability of these products in some regions. Moreover, the pandemic caused the delay or cancellation of several elective operations and treatments, including kyphoplasty. This resulted in a decline in the overall number of kyphoplasty surgeries done during the pandemic's peak. Therefore, COVID-19 pandemic hindered the market revenue.
Continuous technological advancements in kyphoplasty modalities is one of the significant factors propelling the market demand. The development of innovative and enhanced bone tamp designs, cement delivery systems, and navigation technologies has increased the adoption rate of kyphoplasty devices. Further, the growing integration of advanced imaging technologies such as fluoroscopy, CT scans, bone densitometer, and intraoperative navigation systems to provide improved visualization and guide instrument placement, cement injection, and overall surgical accuracy during surgical procedures among healthcare facilities will contribute to the overall market growth potential. This has led to a growing demand for kyphoplasty devices and is anticipated to continue stimulating the market share.
Based on product, the kyphoplasty market is bifurcated into balloon catheters, bone access devices, bone cement, cement mixing systems, and instruments. The bone access devices segment held the largest revenue share accounting for USD 236.7 million in 2022. The increasing incidence rate of vertebral compression fractures often associated with osteoporosis and spinal tumors will drive the demand for bone access devices as the awareness and diagnosis of these conditions improve, the need for effective bone access devices to perform kyphoplasty procedures also increases.
Moreover, the increasing demand for minimally invasive procedures in the field of spine surgery will spur the need for specialized bone access devices. These devices enable surgeons to create small incisions and access the fractured vertebrae with minimal tissue disruption, reducing patient trauma, postoperative pain, and recovery time thereby accelerating segmental revenue growth.
Based on application, the kyphoplasty market is classified into vertebral alignment restoration, spinal fractures, and kyphosis. The spinal fractures segment dominated the market and is anticipated to witness over USD 590 million by 2032. Rising rates of compressed spine bones owing to malignancy and trauma will propel the market expansion capabilities. Additionally, the global increase in the aging population base plays a significant role in driving the spinal fractures segment as older individuals are more susceptible to conditions such as osteoporosis that leads to vertebral fractures.
Based on indication, the kyphoplasty market is segmented into osteoporosis and others. The osteoporosis segment held the largest revenue size over USD 411 million in 2022 and is estimated to witness significant growth over the forecasted period. The high segment growth is owing to the rising incidence and prevalence of osteoporosis along with an upsurge in geriatric population base. The burden of osteoporosis-related fractures, including vertebral fractures, on patients and healthcare systems is a driving factor for the osteoporosis segment. The clinical requirement for effective therapies for osteoporotic fractures has pushed demand for kyphoplasty operations, resulting in the osteoporosis segment's market domination.
The kyphoplasty market is segmented by end-use into hospitals & clinics, ambulatory surgical centers, and others. Hospitals & clinics segment dominated the global market accounting for 68.4% business share in 2022. The high segment growth is attributable to the strong availability and accessibility of advanced medical imaging devices for surgical interventions coupled with the presence of healthcare professionals. Further, hospitals offer minimally invasive procedures like kyphoplasty to enhance patient satisfaction will attract a larger patient population base thereby, witnessing a spike in the revenue stream. Moreover, favourable reimbursement policies and insurance coverage for kyphoplasty procedures among settings will contribute considerably towards the adoption of kyphoplasty in hospitals & clinics thereby leading to segment growth.
Moreover, the preference for minimally invasive procedures in the U.S. is another major aspect propelling the market growth. The minimally invasive kyphoplasty techniques offers several advantages such as smaller incisions, reduced tissue trauma, shorter hospital stays, and faster recovery compared to traditional open surgery thereby bolstering market demand. Furthermore, the strong presence of business players, favourable reimbursement policies and insurance coverage are few other aspects boosting market progression in near future.
Some of the prominent market participants operating in the kyphoplasty market include :
These market players are undertaking several growth strategies including partnerships, collaborations, acquisitions & mergers, and new product development & launches to strengthen their product portfolio as well as gain a competitive edge over others.
Market, By Product (USD Million & Units)
Market, By Application (USD Million)
Market, By Indication (USD Million)
Market, By End-use (USD Million)
The above information is provided for the following regions and countries:
The U.S. kyphoplasty market was worth USD 260.7 million in 2022 and is predicted to witness substantial growth through 2032, on account of increasing elderly populace that is more prone to conditions such as osteoporosis and vertebral fractures.
The global market for kyphoplasty was valued at USD 635 million in 2022 and is estimated to account for USD 1.1 billion by 2032, owing to growing prevalence of osteoporosis.
The bone access devices segment accounted for USD 236.7 million in 2022, backed by the increasing demand for minimally invasive procedures in the field of spine surgery.
Stryker, MicroPort Scientific Corporation, Medtronic Inc., DePuy Synthes (Johnson & Johnson Services Inc.), Smith & Nephew, IZI Medical Products, Merit Medical Systems, CareFusion, Joimax GmbH, Joline GmbH & Co. KG, G21 S.r.l., among others.