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(IT-NEWSWIRE.COM, March 26, 2020 ) Market Overview
• The Global Balloon Kyphoplasty Devices Market is expected to grow at a high CAGR during the forecasting period (2019-2026).
• Balloon kyphoplasty is a minimally invasive procedure intended to repair vertebral compression fractures (VCFs) by stabilizing the fractures. It treats pathological fractures of the vertebral body due to osteoporosis, cancer, or benign lesions. The main advantage of balloon kyphoplasty that differentiates it from vertebroplasty is that the vertebral height is restored while treating the fracture through balloon Kyphoplasty.
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Market Dynamics
• The global Balloon Kyphoplasty Devices market is growing due to rising prevalence of osteoporosis which increases the demand for balloon Kyphoplasty devices market globally.
• Osteoporosis and osteoporotic fractures are a major public health problem globally. Osteoporosis develops when bone density decreases, and the body reabsorbs more bone tissue and produces less to replace it. According to the International Osteoporosis Foundation, osteoporosis is the main cause of VCF, which causes more than 8.9 million fractures each year i.e. one osteoporotic fracture in every three seconds. Osteoporotic vertebral compression fractures (OVCF) comprise a major health problem that decrease the quality of life and increase back pain. Osteoporosis accounts for about 85% of overall VCF cases. In the US, 50% of women and 25% of men suffer from osteoporosis-related fractures. About eight million women have osteoporosis, and about 22 million are at risk of developing the disease. Around 700,000 vertebral body fractures are diagnosed annually in the US, with 115,000 being admitted to hospitals for treatment. At least one in two women and one in four men in the US suffer from osteoporosis-related fractures. Osteoporosis is responsible for two million broken bones and $19 billion in related costs every year. By 2025, it is predicted that osteoporosis will be responsible for approx. three million fractures and US$25.3 billion in costs annually.
• The vertebral compression fractures (VCF) is also caused by metastatic bone disease, metastatic spinal tumors, multiple myeloma, and traumatic injuries. Individuals with VCF undergo either vertebroplasty or kyphoplasty to rectify the condition. Balloon kyphoplasty (KP) is a procedure wherein a deflated balloon is inserted into the vertebral body through the pedicle and then inflated to restore the height of a collapsed vertebral body. The usage of balloon devices makes kyphoplasty differentiates from vertebroplasty. The gradual inflation of balloon and insertion of devices helps to restore the pre-facture shape and height of the vertebral bodies.
• Hence, rising demand for diagnosis and treatment of vertebral fractures is projected to drive the global market during the forecast period (2019-2026).
• In addition, growing technological advancements in the devices, increasing R&D investment by major players, and strategic alliances among major companies are some of the other factors boosting the growth of the balloon kyphoplasty devices market globally. For instance, in June 2017, PanMed U.S., based in Florida, launched the CurvePlus, a curved kyphoplasty device which allows the simplest, quickest, most complete curved kyphoplasty procedure.
• However, the risk of cement leakage and rare occurrence of stroke, low awareness towards balloon kyphoplasty and stringent regulatory guidelines are expected to hinder the growth of the market.
Market Segmentation
• On the basis of component type, the global balloon kyphoplasty devices market is segmented into balloons & inflation devices, bone access tools, bone cement & delivery systems, and accessories. Among these, balloon and inflation devices for recovery of fractures accounted for the largest market share in 2018, due to rising demand of these devices in complicated fracture cases. In addition, manufacturers are innovating new technologically advanced products which are contributing to the major share of this segment during the forecast period. The Medtronic has launched the new Kyphon Xpander II IBT System, which includes the Kyphon Xpander II Inflatable Bone Tamp (IBT) and the Kyphon Inflation Syringe manufactured by Medtronic is used for treatment of vertebral compression fractures. It is combined with the Kyphon Inflation Syringe, which provides ease of use to customers for use during a balloon kyphoplasty procedure.
Geographical Analysis
• North America holds the dominant market share for Balloon Kyphoplasty Devices in 2018 and it is expected to maintain the growth over the forecast period, owing to the rising number of vertebral compression fractures cases in the U.S., growing geriatric population, technological advancement in the balloon kyphoplasty devices, well-established health care infrastructure, and high diagnosis & treatment rates of fractures. Osteoporosis, a condition characterized by low bone mass and deterioration in the micro architecture of bone tissue, causes more than 700,000 spinal fractures each year in the U.S. (2016). The prevalence of osteoporosis is projected to rise in the United States from approximately 10 million people to more than 14 million people by 2020. Though osteoporosis is mostly associated with women, it is also diagnosed in men, who account for an estimated 1 in 5 of Americans who have osteoporosis. According to the Centers for Disease Control and Prevention (2016), in the US, 5.1% of men (65 years of age & over) are diagnosed with osteoporosis of the femur neck or lumbar spine and 24.5% of women 65 years of age & over are diagnosed with osteoporosis of the femur neck or lumbar spine. With rising number of osteoporosis cases in this region, the demand for diagnosis and treatment is increasing which results to the growth of the balloon kyphoplasty market in this region.
Competitive Landscape
• The balloon kyphoplasty devices market is highly competitive with presence of large number of players including Medtronic, Stryker, Johnson & Johnson (DePuy Synthes), Cook Medical, Zimmer Biomet, CareFusion, Tecres, Bone Support, AOI Medical, and Benvenue Medical.
• The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the balloon kyphoplasty devices market globally. For instance,
• In September 2018, Stryker has received FDA 510(k) clearance to market the SpineJack Implantable Fracture Reduction System. The SpineJack system is indicated for use in the reduction of painful osteoporotic vertebral compression fractures.
• In September 2018, Safe Orthopaedics, a company offering innovative ranges of sterile implants combined with their single-use instruments for back surgery, commercially launched its Kyphoplasty System, the SteriSpineTM for the vertebral augmentation.
• In September 2018, Zavation Medical Products announced its partnership with the Pan Medical U.S. Corp to acquire the Company. This partnership broadens Zavation’s service offering by adding a full suite of minimally invasive products, including the novel CurvePlus kyphoplasty system, the simplest and most complete curved kyphoplasty system on the market.
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