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.
Vertebroplasty Needles Market: Drivers and Restraints
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.
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Vertebroplasty Needles Market: Segmentation
The global vertebroplasty market, is segmented on the basis of distribution channel and regional presence.
Segmentation by Distribution Channel
- Hospital Pharmacies
- Private Clinics
- Retail Pharmacies and Drug Stores
Vertebroplasty Needles Market: Overview
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.
Vertebroplasty Needles Market: Regional Overview
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.
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Vertebroplasty Needles Market: Key Players
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.