Transparency Market Research, in its latest research report states, the global minimally invasive vertebral compression fracture repair market will grow at a CAGR of 8.7%from 2013 to 2019. According to analysts this market was valued at $1.58 billion in 2012. However, it is expected to reach $2.82 billion by 2019. The report titled, “Minimally Invasive Vertebral Compression Fracture Repair Market (Vertebroplasty and Kyphoplasty Devices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, is available for sale on the company’s website.
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Minimally invasive vertebral compression fracture (VCF) repair segment is growing at a fast-paced rate in the spinal surgeries market. Increasing number of vertebral compression fractures, growing number of geriatrics, rising incidences of osteoporosis, and lack of other medicinal therapies to treat vertebral compression fractures are the leading causes for the growth of this market. The global minimally invasive vertebral compression fracture repair market has definitely improved the quality of patient’s life by helping restore the vertebral height and enabling mobility for the patient. These aspects of the corrective surgery have helped in increasing the volume of the market and its adoption as an important procedure by doctors across the globe.
The global minimally invasive vertebral compression fracture repair market has been segmented in terms of procedural technology and geography. On basis of technology, the market is divided into vertebroplasty and balloon kyphoplasty therapy solutions. The global market for kyphoplasty is expected to reach $1.47 billion by 2019, growing at a CAGR of 11.7% from 2013 to 2019.
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In terms of geography, North America leads the global minimally invasive vertebral compression fracture repair market, with Europe following closely. Factors attributable to this growth are adoption of technologically advanced products, better reimbursement policies, and supporting medical systems for the aging population. With aging population growing in Japan, India, China, and Korea, the Asia Pacific region is also proving to be a lucrative market. The segment is also expected receive an impetus with increasing number of research activities to find out other applications of vertebroplasty in spinal surgeries.
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About 80% of global minimally invasive vertebral compression fracture repair market is tightly held by just a few market players. They primarily dominate the market due to long-term establishment, proprietary products, and predatory growth strategies among other factors. These companies are also planning on tapping markets in developing countries such as Latin American countries of Brazil, Mexico and Argentina. The lack of manufacturing companies is one of the main causes for expensive equipment and intensifying competition in these regions.