|By PR Newswire||
|September 3, 2014 12:00 PM EDT|
BURLINGTON, Mass., Sept. 3, 2014 /PRNewswire/ -- Decision Resources Group finds that the global market for minimally invasive vertebral compression fracture (MIVCF) treatments will reach a value of $925 million by 2022, driven by an increasing prevalence of osteoporosis, which is largely the result of an aging population. In addition, marketing activity and positive clinical data will spur increasing use of these devices in the tumor and trauma indications, supporting overall procedure volumes.
Other key findings from Decision Resources Group's coverage of the global MIVCF treatment market:
- Global price declines: Price competition and economic challenges will negatively impact average device prices. Financial concerns will be particularly evident in European countries such as Italy, where the effects of the eurozone crisis are still lingering.
- Rapidly expanding revenues in Japan: The Japanese market will see the strongest revenue growth, driven by the recent reimbursement approval and subsequent rapid adoption of Medtronic's Kyphoplasty product in the vertebral augmentation segment.
- Steady U.S. forecast: Despite issues with reimbursement that hindered procedure volume growth in 2013, the United States market will remain the largest but lowest growth market through 2022; currently this market represents approximately two-thirds of total global revenues.
Comments from Decision Resources Group Senior Analyst Brady Baker:
- "Medtronic holds the majority of revenues in the global MIVCF treatment market, largely as a result of its stronghold in the vertebral augmentation space. Additional competitors will look to capture market share, however, by launching innovative and lower-cost products. For example, both CareFusion and DFINE have gained strong market shares by incorporating unique features and low price points into their product portfolios."
Comments from Decision Resources Group Analyst Valentina Lim:
- "Poor or nonexistent reimbursement will limit overall revenue expansion in some markets. For example, unfavorable reimbursement for vertebroplasty—particularly in Australia and Japan—will somewhat limit growth in the Asia Pacific region."
- Valentina Lim and Brady Baker have written a Medtech 360 report on this subject entitled Global Market for Minimally Invasive Vertebral Compression Fracture Treatments 2014.
- Decision Resources Group's Marketrack, which provides market share data by brand for the VCF treatment device market, can be found here.
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.
All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
For more information, contact:
Decision Resources Group
SOURCE Decision Resources Group
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