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According to a new report on the European markets for spinal implants and vertebral compression fracture (VCF) by iData Research, the €168 million European VCF device market will experience growing procedural volume driven by an elderly population suffering from osteoporosis and the popularization of percutaneous vertebral augmentation (PVA) treatment. PVA is characterized by a high average selling price (ASP) and is anticipated to grow at an accelerating rate. This market includes Medtronic’s kyphoplasty and newer cavity creating and height restoring PVA techniques.
“The ASP per procedure can vary significantly depending on the products used and how many levels are treated,” explains Dr. Kamran Zamanian, CEO of iData. “Furthermore, the price of a PVA procedure costs on average five and half times more than a traditional vertebroplasty procedure.”
The European PVA market will continue to exhibit growth and is projected to exceed €214 million by 2021. The VCF device market, accounts for just over 20% of the total European spinal implant market, but due to continued adoption of more expensive PVA devices, total market share will increase to 25% and will contribute to the highest amount of growth in the overall market over the forecast period. Many surgeons who treat VCFs are also changing their practices, favoring PVA kyphoplasty over vertebroplasty. Industry professionals believe the procedure is more beneficial for the patient as it restores vertebral height and is more effective in relieving pain than vertebroplasty. These positive clinical results and favorable reimbursement coverage have also driven significant growth in the market.
Since the introduction of kyphoplasty more than a decade ago, the German market has experienced high growth rates. Kyphoplasty emerged in the Italian market shortly after and experienced similar growth rates to Germany. These two countries have since represented by far the two largest markets for PVA in Europe. The Austrian and Spanish markets have also experienced similar levels of growth. Austria was the second European country to perform kyphoplasty procedures in 2002 and has since developed one of the highest rates of adoption. Due to the maturity of the Austrian PVA market, the market is notably large relative to its population size. Spain, which gained access to the procedure after Italy, has maintained its position as the third largest PVA market in Europe.
In the past, strict regulations and health care approval processes regarding reimbursement hindered market growth in places like the U.K., Switzerland, France and Scandinavia. However, reimbursement conditions have since greatly improved and as a result, growth has been strong in these countries.
Medtronic leads the European VCF device market with nearly 60% market share. Their position is due to their dominance in the PVA segment with their Kyphon® Balloon Kyphoplasty. They have maintained this position since their acquisition of Kyphon back in 2007. The acquisition had effectively given the company a monopoly over the PVA segment, which at the time consisted only of the KyphX® system. However, since the expiry of the Kyphon patent in 2009, a barrage of new products utilizing a similar approach has been introduced to the market, contending for Medtronic’s share of the market.
Other notable competitors in the VCF market include DFINE, Stryker, Optimed, DePuy Synthes, CareFusion, Cook Medical, NeuroTherm, Biomet, and Somatex among others.
For Further Information
More on the vertebral compression fractures market in Europe can be found in the report published by iData entitled European Markets for Spinal Implants and Vertebral Compression Fractures. The market segments covered in this report include cervical fixation, thoracolumbar fixation, interbody devices, motion preservation devices, and vertebral compression fracture devices.
The iData series on spinal implants and vertebral compression fracture devices covers the U.S., Argentina, Brazil, Mexico, China, Taiwan, Australia, Japan, South Korea and 15 countries in Europe encompassing Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Full reports also provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
To find out more about spinal implants and vertebral compression fracture device market data or procedure data, register online or email us at [email protected] for a European Markets for Spinal Implants and Vertebral Compression Fractures report brochure and synopsis.
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