07 Jul Kyphoplasty Market to Reach $1.2 Bn, Globally, by 2031 at 6.2% CAGR: Allied Market Research

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Surge in incidence of osteoporosis and arthritis, rise in frequency of spine problems, and increase in patient knowledge regarding innovations in spine procedures drive the growth of the global kyphoplasty market.

PORTLAND, Ore., July 6, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Kyphoplasty Market by Product (Kyphoplasty Systems, Accessories), by Indication (Osteoporosis, Others), by End User (Hospitals and Clinics, Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report published by Allied Market Research, the global kyphoplasty market was estimated at $632.45 million in 2021 and is expected to hit $1.2 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031.

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Prime determinants of growth-

Surge in incidence of osteoporosis and arthritis, rise in frequency of spine problems, and increase in patient knowledge regarding innovations in spine procedures drive the growth of the global kyphoplasty market. On the other hand, several risks associated with post-surgical complications are projected to impede the growth to some extent. However, growing inclination of the market toward minimally invasive spine operations is expected to create lucrative opportunities in the industry.

Covid-19 scenario-

  • A huge number of clinics and hospitals across the globe were restructured to increase hospital capacity for patients diagnosed with Covid-19. Non-essential procedures took a potential backlog, owing to rapidly rising COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. These factors impacted the global kyphoplasty market negatively, especially during the initial period.
  • Moreover, limited availability of medical care, shortage of healthcare staff, and rise in burden of COVID-19 related hospitalization aggravated the market condition even more.

The accessories segment to retain the lion’s share-

On the basis of type, the accessories segment held the major share in 2021, garnering nearly three-fifths of the global kyphoplasty market. Increase in vertebral-related cancer cases gave way to surge in demand for bone cement and biopsy kits, which boosted the segment growth. The kyphoplasty systems segment, however, is projected to cite the fastest CAGR of 6.6% throughout the forecast period, owing to various development and launch of products such as balloon inflation devices and bone access devices.

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The osteoporosis segment to dominate by 2031-

By indication, the osteoporosis segment contributed to the lion’s share in 2021, holding nearly 90% of the global kyphoplasty market, due to surge in the geriatric population and increase in osteoporosis cases globally. The others segment, on the other hand, is expected to manifest the fastest CAGR of 7.2% from 2022 to 2031.

Asia-Pacific exhibited the fastest CAGR throughout the forecast period-

By region, the market across North America dominated in 2021, garnering nearly three-fifths of the global kyphoplasty market. This is due to established robust infrastructure of hospitals across the province. The Asia-Pacific region, simultaneously, is anticipated to cite the fastest CAGR of 8.5% throughout the forecast period. Increase in the geriatric population, rapid development in healthcare technology, and rise in public-private investment drive the market growth.

Key players in the industry-

  • Benvenue Medical Inc.
  • Globus Medical Inc.
  • Medtronic Plc.
  • Merit Medicals Systems
  • Alphatec Holdings Inc.
  • Stryker Corporation
  • Seawon Meditech
  • IZI Medical Products
  • Zimmer Biomet Holdings, Inc.
  • Johnson and Johnson

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE: Allied Market Research, PR Newswire, July 6 2022.

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