The global vertebroplasty needles market is valued at US$ 910 million as of 2022. By 2032, the market is expected to reach a valuation of US$ 3,173.60 million and is expected to grow at a CAGR of 15.1% during the period 2022 to 2032.
Being a minimally invasive procedure would mean that very low-intensity pain is involved in this process. This might surge the demand for vertebroplasty needles during the forecast period. Furthermore, the healthcare sector as a whole is witnessing technological upgrades. Consequently, more people might start adopting vertebroplasty needles as high technological advancements would certainly mean operating at high precision.
Moreover, based on the statistics obtained, there has been an exponential increase in spine illness cases. This also might increase the sales of vertebroplasty needles during the forecast period. Additionally, there has been an increase in the geriatric population worldwide. This as well has led to a number of people taking up the treatments pertaining to vertebroplasty needles.
Furthermore, there are a number of players who have been carrying out various marketing activities in order to increase awareness regarding vertebroplasty needles. This is expected to have a massive impact on vertebroplasty needle adoption trends.
The manufacturers are also investing huge amounts in R&D. This investment is being made to develop highly efficient vertebroplasty needles, which would operate at higher efficiency because of the special emphasis being laid on certain dimensional aspects. This as well is expected to surge the vertebroplasty needles market.
| Attributes | Value |
|---|---|
| Vertebroplasty Needles Market Value (2022) | US$ 910 million |
| Vertebroplasty Needles Market Forecast Value (2032) | US$ 3,713.60 million |
| Vertebroplasty Needles Market Expected CAGR (2022 to 2032) | 15.1% |
Vertebroplasty is a minimally invasive procedure which is used for treating a compression fracture of the spinal vertebrae in which a special cement is injected into a fractured vertebra by repairing the strength of the collapsed bone and relieving spinal pain.
Vertebroplasty is performed for patients suffering with severe pain that disables them from normal functions and also if the duration of the pain is more than two months. Following are some symptoms for where Vertebroplasty is used for compression fractures of the spine and to deliver mechanical strength to the injured vertebra by inserting bone cement.
Spine compression fractures occurs mainly due to osteoporosis, cancerous deposits in the spine, or spinal injuries, and other causes. Various clinical evaluation and a physical examination are carried out before procedure so as to localize the fracture site such as spine X-rays, MRI, CT, or isotope bone scans. It is performed as an outpatient procedure, under local anesthesia and image guidance.
According to International Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures annually and 58% of spine fractures occurs in women. Increasing funding for research from governments for advanced medical treatment and target-specific drug delivery is expected to drive growth of the global vertebroplasty needles market.
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There have been cases of infection and bleeding being reported by the patients after they were about to undergo vertebroplasty recovery. Under extreme cases, there have been incidences like spinal cord compression, nerve damage, blood clot, etc., which might challenge the market growth going ahead.
Apart from that, the prevalence of needle free injection technology is also expected to hinder the growth of the market for veartebroplasty procedure.
Based on the end-use, the hospital segment is expected to have the highest market share during the forecast period. This is mainly because of the availability of better infrastructure. However, the ambulatory surgical centers segment is expected to showcase the highest CAGR during the forecast period. This is because of the low-cost advantage associated with ASCs.
Based on the regional analysis, North America is expected to be the largest market during the forecast period. The presence of a number of players in this region ensures that these needles are not priced high, which makes it affordable in North America.
Asia Pacific is expected to be the fastest growing market during the forecast period. Massive investments being made by the government in the healthcare sector is expected to surge the market share. Apart from that, increasing awareness regarding the availability of such needles is also expected to have positive impact on the market growth.
Principal Consultant
The demand for vertebroplasty needles is fueled by increasing in prevalence of spine disorder, as per the study conducted in the U.S., low back pain alone affects 80% of the population, while 1%-2% of the population suffers from low back-related disorders. Increasing back-related problems is leading to increasing demand for spine needles.
Spine anesthesia or treatment for spine nerve blockage is also expected to fuel demand for spine anesthesia needles over the forecast period. Moreover strong distribution network is one of the key factors driving company revenues and ensuring higher penetration of products.
Companies enter into various strategic collaborations and agreements with distributors and suppliers, and conduct promotion activities to ensure better distribution and visibility of products, for instance in October 2010, Osseon Therapeutics, Inc. signed an agreement with DePuy Spine, Inc. for distribution of its Osseoflex steerable spine augmentation needles in the U.S. market.
In addition to this increasing focus on catering to growing demand for efficient healthcare systems in various developed countries is expected to fuel need for more and efficient advanced medical equipment, devices and procedures.
Technological advancements in the medical field is also resulting in increasing the number of procedures performed for spine diseases, cancers, epidural indications, target-specific drug delivery etc., thereby leading to rising demand for needles. However, raising awareness of needle-free injection technology is expected to hamper revenue growth of the vertebroplasty market over the forecast period.
The vertebroplasty needles market is expected to witness significant CAGR in terms of revenue owing to high adoption rate of vertebroplasty needles for spine related injuries globally. New entrants and advancement in technology in the vertebroplasty needles market is expected to create competition within players over the forecast period in the market.
Moreover, superior attributes of vertebroplasty needles such as availability in different tip versions such as Diamond, Aspiration, Fish Mouth or Atraumatic, and ergonomic handle provide more competitive advantage over substitutes systems available in the market.
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Geographically, the global vertebroplasty market, is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, Middle East and Africa (MEA).North America dominates the global vertebroplasty needles market followed by Europe.
North America and Europe regions are expected to witness significant growth due to pricing pressure is low in this region as presence of majority of major companies or distributors in these region. Furthermore, only approved products are bought, leading to removal of cheaper substitutes in these regions.
APEJ is expected to witness significant growth as compared to other regions and countries owing to increasing incidence of spine related disorders, and rising geriatric population. Latin America and MEA regions are expected to witness sluggish growth due to local manufacturers raise competition and high impact product pricing and lack of technical experts and absence of skilled healthcare professionals.
However, rising awareness among caregivers and better healthcare facilities are some of the important factors fuelling vertebroplasty needles market in these regions during the forecast period.
Some of the major players operating in the market for vertebroplasty needles are Stryker, DePuy Synthes Companies, Adroit Manufacturing Co., Möller Medical GmbH ⋅, Surtech Medical Inc, and others. Above manufactures are introducing technologically advanced and innovative vertebroplasty needles with features such as different size, length, shape and diameter to enhance product efficiency and to reduce patient discomfort.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global vertebroplasty market, is segmented on the basis of distribution channel and regional presence.
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Vertebroplasty Needles Market
