A new report has been published by MarketResearchReports.biz. The report is titled “MediPoint: Kyphoplasty Devices - Global Analysis and Market Forecasts.” According to the report, the global kyphoplasty device market will rise from US$881.4 mn in 2016 to US$1.6 bn by 2023, expanding at a healthy CAGR of 9.3% between 2017 and 2023. The main factors responsible for the growth of this market are growing incidences of osteoporosis and increasing demand for minimally invasive procedures. The growing geriatric population base is also a factor which is aiding the growth of the global kyphoplasty device market. In addition to this the high prevalence of osteopenia is also expected to fuel the demand for these devices in the forecast period.
The global kyphoplasty devices industry is consolidated with the top three players namely, Stryker, DePuy Synthes, and Medtronic dominating the market in 2016. With well established orthopedic portfolios, these three companies are making fullest use of their wide distribution networks, allowing them to cross sell their products. In addition to these big players, there are several smaller players, operating in this market at the regional and domestic level. These local players manufacture cheap products and are capable of threatening the demand for authentic devices manufactured by established companies. This is especially true for the cost sensitive areas in developing countries.