Global Balloon Kyphoplasty Devices Market: Overview
Pathological fractures of the vertebral body are generally caused due to osteoporosis, cancer, benign lesions, etc. Balloon kyphoplasty is a minimally invasive procedure designed to treat vertebral compression fractures by stabilizing fractured areas. The primary objective of balloon kyphoplasty is to reduce pain, recover the strength of the vertebra, and treat the fracture. The balloon kyphoplasty procedure includes insertion of two balloons or inflatable bone tamps (IBT) into the vertebrae, followed by inflation of the balloons. The inflation of the balloon reduces the fracture area and pushes the end-plates, thereby correcting the angular deformity in the vertebrae area and restoring strength of the vertebrae. After removal of the balloons, the bone cements are provided within the newly formed cavities made by the inflated balloons. The procedure usually takes an hour per fracture and is mostly performed in hospital outpatient settings. Balloon kyphoplasty offers several benefits such as height restoration, relief from back pain, and improvement in mobility.
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Global Balloon Kyphoplasty Devices Market: Key Trends
The global balloon kyphoplasty devices market is primarily driven by rise in cases of osteoporosis and cancer across the world. Additionally, increase in diagnosis and treatment rates of vertebral fractures is projected to drive the global market in the near future. However, less awareness about balloon kyphoplasty and stringent regulatory guidelines are anticipated to hamper the growth of the global balloon kyphoplasty devices market during the forecast period. On the other hand, increase in R&D investment by major players, strategic alliances among companies, and technological advancements are expected to fuel the growth of the global market from 2019 to 2027.
Global Balloon Kyphoplasty Devices Market: Segmentation
The global balloon kyphoplasty devices market can be segmented based on component and end-user. In terms of component, the global market can be categorized into bone access tools, balloons & inflation devices, bone cement & delivery systems, and accessories. Based on end-user, the global balloon kyphoplasty devices market can be classified into hospitals & ambulatory surgery centers, independent clinics, and others.
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Global Balloon Kyphoplasty Devices Market: Regional Analysis
In terms of region, the global balloon kyphoplasty devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to a study published in the Osteoporosis International, 2017, around 5.4% adults in the U.S. (aged over 40 years) suffered from spine fractures in 2013–2014. However, prevalence of spine fracture increases with age. The same study highlighted that over 11% of the septuagenarians and 18% of octogenarians suffered from spine fractures in 2013–2014 in the U.S. North America is projected to capture major share of the global balloon kyphoplasty devices market during the forecast period, owing to significant number of spine fracture cases in the U.S., high diagnosis & treatment rates of spine fractures, and well-established health care infrastructure. Europe held the second largest market share in 2018. High awareness about balloon kyphoplasty and presence of small companies are anticipated to fuel the growth of the market in Europe in the near future. Technological advancements and increase in the geriatric population in countries such as India and China are the factors expected to boost the growth of the balloon kyphoplasty devices market in Asia Pacific during the forecast period. However, low diagnosis rate of vertebral fractures and less awareness about balloon kyphoplasty are likely to hamper the growth of the market in Latin America and Middle East & Africa from 2019 to 2027.
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Global Balloon Kyphoplasty Devices Market: Competitive Landscape
Key players in the global balloon kyphoplasty devices market are Medtronic, joimax GmbH, Joline GmbH & Co. KG, PanMed US (a Zavation Company), DePuy Synthes (a Johnson and Johnson company), Carefusion (a BD Company), Seawon Medi-Tech Co. Ltd., and Stryker, among others.