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According to a new series of reports on the European market for vertebral compression fracture (VCF) devices by iData Research, percutaneous vertebral augmentation (PVA) devices comprised the vast majority of the market. This represents a disproportionate share of the market compared to the procedure volumes, a result of the higher cost of PVA procedures. However, due to expected price declines, the PVA segment is forecast to experience higher procedural growth rates compared to vertebroplasty, further increasing its share of the overall VCF device market.
“Vertebral height restoration through kyphoplasty and other PVA procedures coupled with reimbursement, leads patients and physicians to prefer PVA over vertebroplasty,” explains Jeffrey Wong, Strategic Analyst Manager at iData Research. “However, the impact of this driver is limited because many surgeons view targeted cement placement, rather than height restoration, as the key therapeutic factor for PVA.”
While the average selling price (ASP) will experience a small decline, growth in procedure volumes and unit sales will counteract any adverse effects this may have on the market value. Over 139,000 VCF procedures were performed across Europe in 2016, an increase over 2015. The number of VCF procedures performed will grow at a compound annual growth rate (CAGR) of 5%, reaching nearly 197,000 procedures performed annually by 2023.
The minimally invasive nature of these procedures increases confidence among patients and eliminates the complications common with open surgery. Younger patients as well as elderly patients, who cannot withstand open surgery or with bones too weak to withstand spinal repair, can benefit from both of these approaches. Therefore, the minimally invasive techniques of both vertebroplasty and kyphoplasty can be implemented across a large target patient population, which will help to drive growth of the overall VCF market.
The leading competitor in the European VCF market is Medtronic due to their leading share in the PVA segment. The company has lost significant share recently due to the increasing number of competitors in the market, but with the size of their sales team and distribution network they have remained the dominant market leader.
Merit Medical is the second leading competitor in the European market. They manufacture the StabiliT® Vertebral Augmentation System and the StabiliT® MX Vertebral Augmentation Systems, as well as the StabiliT® Vertebroplasty System. In 2016, Merit Medical acquired DFINE Inc, taking over its second-leading position in the European market. Additional competitors in the European VCF market include Stryker, DePuy Synthes, Optimed and IZI Medical among others.
For Further Information
More on the VCF device market in Europe can be found in a series of reports published by iData Research entitled the Europe Market Report Suite for Spinal Implants and VCF Devices. The full report suite includes segments for traditional cervical and thoracolumbar fixation devices, interbody devices, motion preservation devices, vertebral compression fracture (VCF) treatment, spinal electrical stimulation and spinal instrumentation.
Reports provide a comprehensive analysis including units sold, 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 motion preservation device market and procedure data, register online or email us at [email protected] for a Europe Market Report Suite for Spinal Implants and VCF Devices brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Spinal Implants and VCF, Spinal MIS, Orthopedic Trauma, Large & Small Joints, Wound Management, Orthopedic Soft Tissue, Orthopedic Biomaterials, Orthopedic Soft Tissue Reinforcement and Regeneration, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Ophthalmics, Vascular Access, Laparoscopy, Urology, Gynecology, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Anesthesiology, Orthopedics and more.
We have built a reputation and earned our clients’ trust based on consistent and uniquely intelligent research that allows our customers to make confident decisions and impact their businesses. A combination of market expertise and over a decade of experience has resulted in a deep understanding of the medical device industry that has inspired innovation and propelled our clients to success.