MarketResearchFuture.com (MRFR) in its recently Announced study report asserts that the “Global Slip Disc Market”. Registering 5.4% CAGR Along with Top Companies and Mega Trends.
Global Slip Disc Market – Highlights
The protective shock-absorbing pads between the bones of the vertebrae are called as discs. The injury or impairment to the disc especially due to age related wear and tear is known as slip disc or bulging disc or herniated disc. The damaged part of the disc bulges in the direction of spinal cord or the disc even ruptures this is called as slipped disc.
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When the disc tears open the fragmented part of the disc moves forward and backward generally in the direction of the vertebrae and can press into a local nerve root and cause pain. The occurrence of slip disc is mainly due to weaker outer ring which allows the inner ring to slip out.
Maximum herniated discs do not resolve on their own. The pain may subside because of posture and structural compensation. The symptoms of herniated disc are loss of motor control and many others. Changes in lifestyle, environmental changes and lack of physical activity leads to occurrence of slip disc. Obese people are at high risk of having slip disc. Disc herniation, is the leading cause of lombosciatica, and results in a long and silent degenerative disc which will decompensate more or less abruptly on the occasion of an effort, sometimes minimal.
The launch of quick technologically advanced diagnostic medical devices is a major driving factor for the growth of the market. The drug manufacturers and medical devices companies are financing huge amount of money in research and clinical trials to offer effective solution for slip disc. Other factors such as growing elderly population, swelling government support, and rise in healthcare expenditure has boosts the growth of the market. Quick adoption of new therapies also plays a significant role in the rise of this market. However, the high cost of treatment and absence of skilled medical professionals in many emerging areas may limit the market growth.
Top Players:
Captiva Spine, Inc. (US), DePuy Synthes Companies (US), GlaxoSmithKline plc (UK), Globus Medical, Inc. (US), NuVasive, Inc. (US), Pfizer Inc. (US), and TEVA Pharmaceutical LTD (Israel).
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Segments:
Global Slip Disc market has been segmented on the basis of type which comprises of thoracic herniated discs, lumbar herniated disc, and cervical herniated discs.
On the basis of diagnosis, it is segmented into physical examination, nerve conduction test, and imaging tests.
On the basis of treatment, this market is segmented into medications, therapy, and surgery.
Regional analysis of global Slip Disc market:
Considering the global scenario of the market, the Americas hold the largest share in the global slip disc market. In the American market North America is one of the leading markets which is expected to reach 4,542.8 million in 2023. Some other factors such as increasing cases of spinal injuries plays an important role in market growth. Latin America market is also growing significantly, lumbar herniated disc market is expected to hold the largest market share in this market.
Due Increasing funding for research and new product development, European region is also expected to grow significantly during the forecast period. Europe is the second largest market and holding around 31.0% market share in global slip disc market. Availability of advanced diagnostic and treatment facilities, skilled medical professionals, high healthcare expenditure and adoption of new therapies are driving the growth for this market.
The prevalence of slip disc in Asia Pacific region is key factor for the market growth. Rising awareness about the slip disc and related cure is playing important role in the growth of the market. Growing number of patients suffering from back pain either severe or mild is leading the market growth. China is holding the largest share in this market. Asia Pacific slip disc market is expected to grow at a CAGR of 6.0% during the forecast period of 2017-2023.
Middle East & Africa is expected to have the least growth in this market due to some major factors such as lack of awareness about the slip disc, limited access and availability of diagnostic and treatment facilities, low income etc. Middle East holds 70.9% market share in the Middle East & Africa slip disc market.
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