As per our research report, the global market size for the artificial disc is predicted to grow USD 6.25 billion by 2027 and USD 2.62 billion by 2022, growing at a CAGR of 19% from 2022 to 2027.
Every market was impacted in some way by the COVID-19 pandemic outbreak. Every market recognized that the COVID-19 pandemic affected the market’s dynamic, trends, and observed requirements after the WHO’s official notification. During the lockdown, COVID-19 was influenced by the state of the artificial disc market. In the following days, the worldwide artificial disc market is expected to reclaim the losses caused by the COVID-19 pandemic.
Factors such as increasing public awareness of the benefits of disc replacement surgery over spinal fusion surgery and the rapid rise in demand for minimum surgical procedures are driving the global artificial disc market forward.
Technological developments and an increase in the prevalence of degenerative spine disorders are driving the worldwide artificial disc market. Growing healthcare spending, rising disposable income, and favorable reimbursement policies contribute to the market’s rapid expansion. Technological improvements, the development of multiple procedures, and the availability of a wide range of goods are all factors that contribute to the growth of industries in the artificial disc market.
Furthermore, the global artificial disc market is benefiting from increased awareness of the advantages of disc replacement over spinal fusion surgeries and the significant expansion in demand for minimal surgical therapies. In addition, technological developments and growth in the prevalence of degenerative spine disorders are driving the artificial disc sector. Rising healthcare spending, disposable income, and favorable reimbursement policies have all assisted the market’s rapid expansion. In addition, sports and trauma-related injuries are growing, and the aging population is driving demand for artificial discs.
The number of clinical trials comparing artificial discs to ACDF (Anterior cervical discectomy and fusion) procedures has increased worldwide. In November 2016, Spineart SA found that the Baguera C cervical disc replacement operation is a safe and effective treatment for radiculopathy caused by soft disc herniation or moderate uncarthrosis on levels. As a result, leading participants in the artificial disc business now have a better chance of obtaining regulatory permits for the production of these devices, according to promising results from research. In addition, several artificial discs have been evaluated in IDE prospective randomized clinical studies, which the FDA supervises. As a result of the many innovative artificial discs in the IDE stage of development in recent years, several chances for industry growth have developed.
Chronic pain, severe back pain, and cervical pain are treated using artificial discs. An artificial disc alleviates pain that hasn’t responded well to non-operative treatments such as injections, physical therapy, or drugs. In addition, compared to traditional fusion surgery, artificial disc replacement allows for a faster return to normal activity.
Low back pain is the most significant cause of disability worldwide, according to the Global Burden of Disease, impacting an estimated 540 million individuals at any given moment. Furthermore, low back pain was responsible for about 60.1 million disability-adjusted life-years in 2015, a 54 percent increase from 1990, with the most significant increase in low- and middle-income nations.
On the other hand, the growth of the artificial disc market is hampered by the product’s high cost, tight regulatory regulations, technical obstacles experienced by surgeons during replacement surgeries, and a lack of consistent payment schemes for disc replacements. For market participants, the risks associated with surgery constitute a significant challenge.
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KEY MARKET INSIGHTS:
- The cervical artificial disc market is predicted to account for a sizable portion of the global market based on type. A damaged or deteriorated disc is removed and replaced with an artificial disc during a cervical disc replacement surgery. These discs serve as cushions between the neck’s vertebrae (bones) (cervical spine). According to the World Health Organization (WHO), the lifetime prevalence of low back pain is estimated to be 60-70 percent in industrialized countries, with a lower prevalence rate in children and adolescents than adults, but an increasing trend.
- Because of the growing elderly population and better success rate of artificial disc replacements in this area, North America is likely to occupy a significant market position in the global artificial disc market. According to the National Institute of Neurological Disorders and Stroke, roughly 80% of adults in the United States will have low back pain at some point during their lives. In addition, in the United States, back pain is one of the most prevalent reasons for missed work. Every year, half of all working persons in the United States report experiencing back pain symptoms. Furthermore, rising healthcare costs and well-established healthcare infrastructure are both contributing to the overall regional market’s expansion.
- Europe is the second-largest artificial disc replacement market after the United States. Increased healthcare spending and an aging population are only two factors pushing European regions’ growth share. Furthermore, the artificial disc market benefits from favorable government regulatory rules as a driving force in the European region. Germany accounted for more than 20% of the European market in 2018 and is likely to grow rapidly.
- The rising prevalence of cervical and lumbar degenerative disc disease is one of the key drivers of the artificial disc business in Europe. In addition, the need for minimally invasive surgical procedures has increased as surgical techniques and materials have improved. Following surgery, these treatments restore vertebral movement while avoiding harm to bone, muscles, nerves, and ligaments in the back. As a result, the artificial disc business is expected to grow rapidly throughout the projected period because of the advantages of minimally invasive disc replacement procedures over fusion procedures.
- Furthermore, artificial disc replacement will become one of the most popular medical operations among medical tourists in Europe. The cost-effective and high-quality medical care provided by European spine surgeons will help to grow the regional market. In addition, the presence of experienced healthcare workers and the availability of innovative and competitive spine surgical facilities will aid the artificial disc replacement sector’s growth. However, lack of reimbursement in some countries and the expensive cost of discs may limit market penetration.
- The artificial disc market in the United Kingdom was worth roughly USD 85 million in 2019 and is expected to climb at a similar rate in the near future due to the country’s growing orthopedic disease burden. According to the National Health Service, about ten million individuals in the UK have arthritis or related joint diseases (NHS). In addition, in the United Kingdom, osteoarthritis, the most common kind of arthritis, affects around 9 million individuals. Increased frequency of such disorders, particularly among the elderly, sophisticated healthcare facilities, and a solid foothold of key industry players would propel the artificial disc market in the United Kingdom forward.
- There are several significant participants in the artificial disc market, which is moderately competitive. However, few of the biggest competitors presently hold most of the market share. Globus Medical, Zimmer Biomet, B. Braun Melsungen, Centinel Spine, LLC, Medtronic Plc, AxioMed LLC, NuVasive Inc, Orthofix Medical Inc, K2M, Inc, RTI Surgical Holdings, Inc, and Synergy Disc Replacement Inc are among the industry leaders.
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SEGMENTS COVERED UNDER THIS REPORT:
- Lumbar Artificial Disc
- Cervical Artificial Disc
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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