According to Coherent Market Insights, the global degenerative disc disease treatment market was valued at US$ 1,736.4 million in 2019 and is expected to exhibit a CAGR of 9.0% over the forecast period (2019 – 2027).
Key Trends and Analysis of the Global Degenerative Disc Disease Treatment Market:
The global degenerative disc disease treatment market size is expected to witness significant growth over the forecast period. Various companies are developing and launching stem cell solutions for treatment of degenerative disc disease. Some companies have developed the therapy and are engaged in receiving regulatory approvals for the commercialization of their products. For instance, in August 2019, DiscGenics, Inc., a clinical-stage biotechnology company, focused on developing regenerative cell-based therapies that reduce pain and restore function in patients with degenerative diseases of the spine and announced that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for its investigational cell therapy (IDCT).
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Moreover, the global degenerative disc disease treatment market is expected to account for major revenue share over the forecast period, as key players are focusing on mergers and acquisitions in order to enhance their product portfolios. For instance, in May 2019, Medtronic plc, entered into an agreement to acquire Titan Spine, a privately-held titanium spine interbody implant and surface technology company. This acquisition is expected to enhance the company’s portfolio of minimally invasive therapies.
Major players in the degenerative disc disease treatment market are focused on strategic acquisitions to increase sales and distribution of their products across the globe. For instance, in 2016, Globus Medical Inc. announced an agreement to acquire the international operations and distribution channels of Alphatec Holdings, Inc. in order to increase its presence in the global market.
Key Market Takeaways:
- The global degenerative disc disease treatment market is projected to exhibit a CAGR of 9.0% over the forecast period (2019-2027), owing to increasing regulatory approvals. For instance, in July 2019, Centinel Spine, LLC, a privately-held spine implants company, focused on anterior column reconstruction, announced that it received Investigational Device Exemption (IDE) approval from the Food and Drug Administration (FDA) to initiate a two-level clinical trial with two different Prodisc C Anterior Cervical Total Disc devices – Prodisc C Vivo and Prodisc C SK.
- Among region, North America is expected to hold the dominant position in the global degenerative disc disease treatment market over the forecast period owing to increasing launches of artificial discs. For instance, in April 2019, Orthofix Medical Inc. launched M6-C artificial cervical disc in the U.S. to treat cervical disc degeneration.
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Major players operating in the global Degenerative Disc Disease Treatment market include Medtronic Plc., Globus Medical Inc., Johnson & Johnson, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, RTI Surgical Holdings, Inc., Cousin Biotech, Ulrich Medical USA, Inc., Fresenius Kabi AG, and Abbott Laboratories.
- Global Degenerative Disc Disease Treatment Market, by Product Type:
- Oral steroids
- Muscle Relaxants
- Cervical Spine
- Lumbar Spine
- Thoracic Spine
- Spinal Fusion
- Global Degenerative Disc Disease Treatment Market, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East
- Company Profiles
- Medtronic Plc.*
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Globus Medical Inc.
- Johnson & Johnson
- Zimmer Biomet Holdings, Inc.
- B. Braun Melsungen AG
- RTI Surgical Holdings, Inc.
- Cousin Biotech
- Ulrich Medical USA, Inc.
- Fresenius Kabi AG
- Abbott Laboratories
- Medtronic Plc.*
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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