The North American vertebroplasty market will likely witness a 12 percent negative compound annual growth rate through 2023, according to a GlobalData analysis.
Here are five observations:
1. The market is set to drop from $72 million in 2016 to $29.4 million by 2023.
2. Analysts noted procedure adoption is inconsistent because of sparse data demonstrating vertebroplasty's efficacy.
3. The risk of cement leakage and damage to the surrounding spinal canal and nerves deters wide adoption of the procedure.
4. In developing markets such as the Middle East and Africa, however, the market will likely grow at a compound annual growth rate of 6.8 percent through 2023. This growth is due to the cost-effectiveness of the procedure.
5. DePuy Synthes, Medtronic and Stryker account for about 80 percent of the market share.