Press release
Vertebroplasty and Kyphoplasty Market to Reach $1.15 Billion by 2030, Driven by Aging Population and Technological Advancements
Vertebroplasty and Kyphoplasty Market
The global vertebroplasty and kyphoplasty market is projected to grow from USD 0.79 billion in 2023 to approximately USD 1.15 billion by 2030, registering a CAGR of 5.6%. This growth is fueled by the increasing prevalence of vertebral compression fractures, advancements in minimally invasive surgical techniques, and a rising geriatric population.
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◆ Competitive Landscape and Regional Demand
Key players in the vertebroplasty and kyphoplasty market include Medtronic Plc, Johnson & Johnson (DePuy Synthes), Stryker Corporation, Zimmer Biomet Holdings Inc, and Boston Scientific Corporation. These companies are focusing on product innovation, strategic partnerships, and expanding their global presence to meet the evolving needs of patients and healthcare providers.
North America held the largest market share in 2023, valued at USD 1.01 billion, driven by advanced healthcare infrastructure and high patient awareness. The Asia Pacific region is expected to witness the highest growth rate, with a CAGR of 7.2% during the forecast period, attributed to improving healthcare infrastructure and increasing medical tourism.
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Country-Specific Developments
Growth Opportunities in Vietnam
Vietnam is experiencing growth in the vertebroplasty and kyphoplasty market due to increasing healthcare investments and a rising aging population. The government's focus on improving healthcare infrastructure is expected to drive the adoption of minimally invasive spinal procedures.
Trends in Thailand
Thailand's medical tourism industry is contributing to the growth of the vertebroplasty and kyphoplasty market. The country's well-established healthcare facilities and skilled medical professionals attract patients seeking advanced spinal treatments.
Consolidation Trends in Japan
Japan's aging population and high prevalence of osteoporosis are driving the demand for vertebroplasty and kyphoplasty procedures. The country is witnessing collaborations between medical device companies and healthcare providers to enhance treatment options.
Updation in South Korea
South Korea is investing in research and development to advance spinal treatment technologies. The country's focus on innovation is expected to lead to the introduction of new vertebroplasty and kyphoplasty devices, improving patient outcomes.
Opportunity Growth in Singapore
Singapore's robust healthcare system and emphasis on adopting advanced medical technologies are contributing to the growth of the vertebroplasty and kyphoplasty market. The country's strategic location also positions it as a hub for medical tourism in the region.
Market Growth in the United States
The United States remains a significant market for vertebroplasty and kyphoplasty procedures, with a high incidence of vertebral compression fractures. The presence of major market players and ongoing technological advancements support market growth.
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◆ Vertebroplasty and kyphoplasty Market Segmentation
by Product Type
1. kyphoplasty Devices
2. Vertebroplasty Devices
Based on the product, the global market for kyphoplasty and vertebroplasty is divided into two segments: kyphoplasty devices and vertebroplasty devices. The global market share of vertebroplasty and kyphoplasty was led by the kyphoplasty devices segment in 2023, and this trend is anticipated to continue during the forecast period. The benefits that kyphoplasty offers over vertebroplasty are the primary reason for its domination in the market. For example, kyphoplasty has a decreased rate of cement extravasation, restores vertebral body height, and lessens back pain. By utilizing balloons to gently raise the fractured vertebrae back to their proper place, kyphoplasty accomplishes these advantages.
by End User
1. Hospitals
2. Ambulatory Surgery Centers
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◆ Vertebroplasty and kyphoplasty Market Key Players
1. Medtronic
2. Alphatec Spine, Inc
3. Stryker
4. Merit Medical Systems
5. Globus Medical
6. IZI Medical Products
7. ZAVATION
8. RONTIS
9. G21 S.r.l.
10. SOMATEX Medical Technologies GmbH
11. BPB MEDICA
12. Laurane Medical LLC
13. Teknimed
14. Benvenue Medical
15. Spine Wave, Inc.
16. MEDAID Inc.
17. Cardinal Health
18. Joimax GmbH
Key Recent Developments
In October 2022, Halma announced the acquisition of IZI Medical Products, a leading designer and manufacturer of medical devices used in vertebroplasty and kyphoplasty procedures.
Medtronic's Kyphon bone cement received a new indication in June 2018 for use in sacral vertebral fractures, expanding its application in spinal treatments.
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