Analysis of Potential Impact of COVID-19 on Vertebroplasty and Kyphoplasty Market

TMR

4 years ago

The vertebroplasty and kyphoplasty market may experience an upward trend in the forecast period of 2018-2026 because of the increasing preference for minimally invasive surgeries as well as technological advancements in the healthcare sector. In vertebroplasty, bone cement is injected in the vertebra to give support to the specific broken bone. Kyphoplasty is a modified version of vertebroplasty in which a balloon tamp is inflated in the vertebral area for compressing the cancellers bone and form a cavity.

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According to studies, a chance of developing back pain in individuals is as high as 80 percent due to various reasons. Changing lifestyle is the main reason for back pains. Sitting without back support and working on computers for a prolonged period accounts for back problems. Thus, with the growing prevalence of back conditions, the vertebroplasty and kyphoplasty market may experience a good growth rate across the forecast period. The COVID-19 outbreak may hardly impact the growth rate of the vertebroplasty and kyphoplasty market as healthcare facilities are open during the lockdown period.

Rising cases of vertebral fractures in the young population due to high-velocity injuries while exercising or performing other activities are leaving a positive impact on the growth of the vertebroplasty and kyphoplasty market.
Advancements in image-guided surgical procedures are benefiting the vertebroplasty and kyphoplasty market to a great extent. Innovations and development of new technologies based on the research activities carried out by manufacturers in the vertebroplasty and kyphoplasty market are proving to be growth generators for the vertebroplasty and kyphoplasty market. Frequent mergers and acquisitions may bring a positive impact on the growth rate of the vertebroplasty and kyphoplasty market.
Geographically, North America is estimated to carry its dominant streak of growth across the forecast period owing to the increased adoption of technologically advanced products and high prevalence of orthopedic disorders.
According to Transparency Market Research’s latest report on the global vertebroplasty and kyphoplasty market for the historical period 2017–2018 and forecast period 2019–2027, rise in geriatric population, increase in health care infrastructure globally, and increase in patient compliance due to technical advancements are some factors driving the market.
According to the report, the global vertebroplasty and kyphoplasty market was valued at US$ 1.0 Bn in 2018 and is anticipated to expand at a CAGR of 4.6% from 2019 to 2027.

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Surge in adoption of technologically advanced products: A Key Driver

Large number of global manufacturers who have technical expertise and core competencies are undertaking constant efforts to develop and manufacture novel vertebroplasty and kyphoplasty products to attract more customers. Improved biomaterial based implants offering high strength and no leaks of cement during fixing in spine fracture are witnessing an exponential rise in demand in developed as well as developing countries. Affordability, ease of utility, and novelty are the key factors focused upon by product developers in this field to cater to the increasing demand for affordable care among the rapidly growing population affected by spine fracture.

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Technological advancements in the fields of vertebroplasty and kyphoplasty have brought about significant changes in health care treatments of different vertebral compression fractures. Technological advancements and improvements in vertebroplasty and kyphoplasty equipment have boosted the demand for the kyphoplasty procedure and vertebroplasty in developed as well as emerging economies, especially in the field of surgery. Rise in preference of minimally invasive surgeries is boosting the demand for vertebroplasty and kyphoplasty procedures.
Developments in the medical devices industry have enabled the reconstruction of different equipment such as Crosstrees Medical, Inc.’s PVA Pod System, a novel bone cement delivery technology that does not require an implanted device in the spine. Since June 2018, Medtronic’s Khphon bone cement has been available with a new indication for the use of sacral vertebral fracture. Increase in new applications of existing devices and development of new devices are driving the utilization of vertebroplasty and kyphoplasty equipment in the health care industry. These equipment are used to perform different surgeries of spine. This is propelling the vertebroplasty and kyphoplasty market.