Patients, in the last few years, have become more aware about the developments in spinal surgeries, and increase in the prominence of arthritis & osteoporosis especially among the geriatric population has been right behind this.
Patients, in the last few years, have become more aware about the developments in spinal surgeries, and increase in the prominence of arthritis & osteoporosis especially among the geriatric population has been right behind this. For example, artificial disc replacement has become very popular nowadays. At the same time, rising incidence of metastatic spinal tumors has also turned out to be a reality. These factors have played a major role in driving the global vertebral compression fracture devices market in more than one way.
According to Allied Market Research, the global vertebral compression fracture devices market is anticipated to cite a noteworthy CAGR from 2020 to 2030. A lot of surveys and studies have been conducted in this regard and as per the figures from the CDC, osteoarthritis or deteriorating joint disease tends to shake more than thirty million adults in the United States, which in turn has supplemented the market growth yet more. At the same time, potential surge in cases of bone metastasis especially among patients with malignancy and rise in obesity across the world have also been beneficial for the market growth, since obesity is counted as the major risk factors of osteoarthritis.
Rise in the geriatric population, shift toward minimally invasive spine procedures, and surge in prevalence of spine disorders have boosted the growth of the global vertebral compression fracture devices market. However, unfavorable reimbursement scenarios hinder the market growth. On the contrary, untapped potential in the emerging market is expected to open new opportunities for the market players in the future.
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In the last few years, a lot of efforts have been made in perking up the precision level of the devices. The computer navigation technology can now make high-end pedicle pull-out and pedicle screw placement can now be done in real time in the course of operation. The mixed reality technology brings off CAD simulation by way of the preoperative CT data and offers coordinated real-time image during the surgery. The use of modified and highly tailored expedients happens to enhance the accuracy of positioning. With the advancements in 3D printing, preoperative CT data can also be utilized in CAD design bespoke percutaneous guide pattern for certain surgeries.
factors that drive the growth of the global vertebral compression fracture devices market include rising awareness of vertebral compression fracture devices, along with an increase in physician training. Moreover, increase in the incidences of spinal disorders, lifestyles of the working population are also increase the growth of the market. However, the risk associated with post-surgical complications, that include hemorrhage and vertebral posterior element fracture, and stringent regulatory approval procedures are expected to hamper the growth of the vertebral compression fracture devices market.
Covid-19 scenario-
However, here, it’s worth mentioning that the outbreak of the COVID-19 pandemic gave way to huge economic slowdown all over the world, which in turn dwindled the demand for vertebral compression fracture devices especially that are used in elective treatment options. That’s how the market was impacted negatively, mainly during the initial phase. Nevertheless, as the global situation is getting back to normalcy, the market for vertebral compression fracture devices is also expected to revive, in terms of revenue, very soon.
The COVID-19 pandemic is an unprecedented global public health challenge and is anticipated to have a negative impact on the vertebral compression fracture devices market. The COVID-19 pandemic and subsequent economic slowdown has materially impacted the demand for vertebral compression fracture devices, which are used in procedures that are considered elective for the treatment.