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May 11, 2017

Report: North American vertebroplasty market set to decline by over 50% by 2023

The North American vertebroplasty market is forecast to witness a negative compound annual growth rate (CAGR) of 12% between 2016 and 2023, according to a report by GlobalData.

The North American vertebroplasty market is forecast to witness a negative compound annual growth rate (CAGR) of 12% between 2016 and 2023, according to a report by GlobalData.

Titled ‘MediPoint: Vertebroplasty Devices – North America Analysis and Market Forecasts’, the report, which covers Canada, Mexico and the US, states that the market will decline from $72m in 2016 to $29.4m in 2023.

Vertebroplasty is a minimally invasive procedure used for the treatment of problematic spinal fractures in the outpatient setting. Conclusive evidence on the efficacy of the procedure, however, is not available. As a result, the procedure’s popularity is declining in developed nations, while the innovative kyphoplasty method is gaining more popularity.

The procedure’s popularity in developing markets, however, is set to increase due to its cheaper price tag, as revealed in another GlobalData report covering the vertebroplasty market in the Middle East and Africa. The market in the region is projected to grow at a CAGR of 6.8%, from $4.1m in 2016 to $6.5m by 2023.

"The market will decline from $72m in 2016 to $29.4m in 2023."

Despite the anticipated growth rates, risks associated with vertebroplasties such as cement leakage and subsequent damage to the spinal canal and nerves are expected to affect its popularity, states Jennifer Ryan, Healthcare Analyst for GlobalData.

Novel devices such as vertebral body stents and vertebral augmentation implants are expected to emerge as alternatives to the traditional vertebroplasty and kyphoplasty procedures.

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The vertebral compression fracture (VCF) repair products market, including vertebroplasty products, is highly consolidated.

The market is dominated by three orthopaedic conglomerates DePuy Synthes, Medtronic, and Stryker, whose combined market share was approximately 80% in 2016. A number of minor players, including Cook Medical and Osseon, are present in the regional markets.

Well-established orthopaedic portfolios and wide distribution networks have enabled the companies to cross-sell their VCF products. Domestic manufacturers of cheap copycat products, however, pose a threat to these companies in developing countries.

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