North American vertebroplasty market set to plummet by 2023

The North American vertebroplasty market, is set to see a steep decline from an estimated $72 million in 2016 to around $29.4 million by 2023, representing a negative compound annual growth rate (CAGR) of 12%, according to GlobalData.

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. Due to evidence demonstrating the procedure’s efficacy not being available, declining rates of adoption of the procedure in some nations have declined in favour of the kyphoplasty procedure.

In contrast, the use 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%.

Jennifer Ryan, healthcare analyst for GlobalData, explained: “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.”

The market for vertebral compression fracture (VCF) repair products, including vertebroplasty kits, is a highly consolidated market. Three orthopaedic conglomerates – DePuy Synthes, Medtronic, and Stryker – dominated the global market in 2016, together holding almost 80% of the market share.

Ryan continued: “These companies hold well-established orthopaedic portfolios and enjoy wide-ranging distribution networks, which allow them to effectively cross-sell their VCF products. 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.”