The North American kyphoplasty market will likely reach $1.1 billion by 2023, up from $538.1 million in 2016, according to a GlobalData analysis.
Kyphoplasty is a minimally invasive, fluoroscopy-guided surgery that injects acrylic cement into vertebral bodies for fracture treatment.
Here are five observations:
1. GlobalData predicts the market will grow at a compound annual growth rate of 11.1 percent through 2023.
2. The increasing number of osteoporosis and osteopenia cases as well as the growing demand for minimally invasive and outpatient procedures will spur market growth.
3. Market barriers include the risk of cement leakage and damage of the spinal canal and nerves.
4. Further, new devices such as vertebral body stents and vertebral augmentation implants, will present a threat to the traditional vertebroplasty and kyphoplasty procedures.
5. In 2016, DePuy Synthes, Medtronic and Stryker dominated the space.