Rise in the geriatric population, shift toward minimally invasive spine procedures, and surge in prevalence of spine disorders have boosted the growth of the global vertebral compression fracture devices market. The market across North America held the lion’s share in 2020, accounting for nearly three-fifths of the market. The economic slowdown and prolonged pandemic has impacted the demand for vertebral compression fracture devices that are used in surgical procedures that are considered elective.
Portland, OR, Oct. 28, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Vertebral Compression Fracture Devices Market was accounted for $866.7 million in 2020, and is estimated to reach $1.90 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.
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Rise in the geriatric population, shift toward minimally invasive spine procedures, and surge in prevalence of spine disorders have boosted the growth of the global vertebral compression fracture devices market. However, unfavorable reimbursement scenarios hinder the market growth. On the contrary, untapped potential in the emerging market is expected to open new opportunities for the market players in the future.
The Covid-19 pandemic presented unprecedented challenges in the healthcare industry and had a negative impact on the demand for vertebral compression fracture devices.
The economic slowdown and prolonged pandemic has impacted the demand for vertebral compression fracture devices that are used in surgical procedures that are considered elective.
The report divides the global vertebral compression fracture devices market on the basis of product type, diseases, and region.
Based on product type, the balloon kyphoplasty segment held the largest share in 2020, accounting for more than four-fifths of the market. Moreover, the segment is projected to manifest the highest CAGR of 8.5% during the forecast period. The report includes an analysis of the vertebroplasty segment.
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On the basis of diseases, the minimally invasive spine surgery segment held the lion’s share in 2020, contributing to nearly 90% of the market. Moreover, the segment is estimated to portray the highest CAGR of 8.6% from 2021 to 2030. The report includes an analysis of the open spine surgery segment.
The report offers an analysis of the global vertebral compression fracture devices market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly three-fifths of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 10.5% during the forecast period.
The global vertebral compression fracture devices market report includes an in-depth analysis of the prime market players such as Alphatec Holdings, Inc. Globus Medical, Inc., Benvenue Medical, Medtronic plc, Johnson & Johnson (Depuy Synthes), Osseon LLC, Orthovita, Inc., VEXIM SA, Stryker Corporation, and Zimmer Biomet Holdings, Inc.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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