Vertebral Body Replacement Devices Market 2022
The healthcare vertical is growing at a rapid pace all over. There are hordes of healthcare opportunities available. Digitization is making a constructive entry into the vertical. Plus, with an influx of AI technology, profound diagnostics of the diseases are being made possible. There is customized medical software to execute this. As such, the Vertebral Body Replacement Devices Market is bound to climb the digitized pedestal in the years to come.
Vertebral body replacement (VBR) devices are used for insertion between vertebrae to aid surgical spinal stabilization and correction. A vertebral body replacement device is designed to replace and restore the height of part or overall vertebral body specifically that portion of the vertebra which bears weight or has been removed in order to treat tumors. These vertebral body replacement devices and implants allow anatomical matching along with restoration of standard spinal balance.
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These devices are intended to treat indications including vertebral tumor, anterior column fracture, and vertebral reconstruction after corpectomy. The introduction of new generation vertebral body replacement devices developed on expandable implant technology is projected to propel vertebral body replacement devices market growth over the coming years. For instance, recently in January 2019, Ulrich medical USA, Inc. A leading player has launched a vertebral body replacement device named Solidity™ for complicated spine applications.
The vertebral body replacement devices market is categorized based on product type, material type, application type, and end user. Based on product type, the VBR Devices are classified into two types of fixed and flexible VBR systems. However, on the basis of application, the vertebral body replacement devices are intended to be used for cervical, lumbar, thoracic and spinal vertebral replacements.
A rise in the number of spinal surgeries owing to the growing prevalence of spinal surgical procedures that require resection of an overall vertebral body or adjacent intervertebral discs is anticipated to be one of the most prominent factors fueling the growth of vertebral body replacement devices market. Increasing preference for PEEK-based vertebral body replacement devices over metal-based is driving revenue generation in developing countries.
The ability of flexible vertebral body replacement device – Implant, possessing stress-strain behavior throughout bending as well as compressive creep testing, coupled with the availability of titanium vertebral body replacement implant with adjustable height are some other factors that are further projected to drive the revenue generation in vertebral body replacement devices market.
Moreover, advancing technology such as intervertebral height restoration for cervical, thoracic and lumbar vertebral body replacement is also driving the growth of vertebral body replacement devices market over the forecast period. However, high costs associated with these VBR implants is restraining the vertebral body replacement devices market growth.
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Market Segmentation
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North America and Europe cumulatively are anticipated to register the highest revenue share in global vertebral body replacement devices market on the account of the growing incidence of spinal injuries among people in the regions.
The introduction of new generation vertebral body replacement device in the U.S. market for spine implant enables North America to hold the significant revenue share in vertebral body replacement devices market.
North America is further projected to grow at the highest CAGR over the forecast period due to the strong presence of medical device companies that are entirely focused on manufacturing and commercializing spinal implant technologies.
North America is followed by Europe, wherein Europe registers the second largest revenue share in the global vertebral body replacement devices market throughout the forecast period.
The growing incidence of spinal deformities and increasing incidence of spinal tumor across the population in Japan and China is expected to drive revenue growth in Asia Pacific vertebral body replacement devices market.
Some of the key players involved in global vertebral body replacement devices market are DePuy Synthes, Stryker, Ulrich medical USA, Inc., RSB Spine, LLC, JALEX Medical LLC, Victrex plc, Omnia Medical Services Co., Ltd. and others.
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Key Questions Answered in the Vertebral Body Replacement Devices Market Report
How is the Vertebral Body Replacement Devices Market expected to grow over the projected period?
What direction is the Vertebral Body Replacement Devices Market expected to take in terms of volume and value during the forecast period?
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What are significant opportunities and improvement areas for Vertebral Body Replacement Devices Market manufacturers?
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