The company’s latest report states that vertebroplasty was developed as a minimally invasive procedure that can be performed in an outpatient setting for the treatment of problematic spinal fractures. Adoption of the technique is highly variable as conclusive evidence demonstrating the procedure’s efficacy is not available. For this reason, many developed nations are experiencing declining rates of adoption in favor of the more innovative kyphoplasty procedure.
In contrast, usage of vertebroplasty in many developing markets is projected to increase through the forecast period due to its cheaper price tag. As explored in GlobalData’s report focusing on vertebroplasty in the Middle East and Africa, which covers Egypt, Israel, Saudi Arabia, South Africa, and the United Arab Emirates, market value in this region is set to rise from $4.1 million in 2016 to around $6.5 million by 2023, at a CAGR of 6.8 percent.
“Despite vertebroplasty’s increasing popularity in developing markets, the possibility of cement leakage and corresponding damage to the surrounding spinal canal and nerves is a persisting drawback to the procedure. Novel devices including vertebral body stents and vertebral augmentation implants will pose a threat to the traditional procedures of vertebroplasty and kyphoplasty during the forecast period,” explained Jennifer Ryan, healthcare analyst for GlobalData.
The market for vertebral compression fracture (VCF) repair products, including vertebroplasty kits, is a highly consolidated market. Three orthopedic conglomerates—DePuy Synthes, Medtronic plc, and Stryker Corp.—dominated the global market in 2016, together holding almost 80 percent of the market share.
“These companies hold well-established orthopedic portfolios and enjoy wide-ranging distribution networks, which allow them to effectively cross-sell their VCF products," Ryan said. "Several minor players also operate in regional markets, such as Cook Medical and Osseon, and domestic manufacturers of cheap copycat products are a threat in developing countries.”
Four-thousand of the world’s largest companies, including over 70 percent of FTSE 100 and 60 percent of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s information, expert analysis and solutions. GlobalData’s mission is to help clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.