Due to an increase in sports injuries and trauma-related injuries worldwide over the past several years, there has been a significant rise in the number of surgeries. The market for artificial disc replacement is expected to grow as a result of this scenario over the coming years
Worldwide sales of artificial discs are predicted to surge at an impressive CAGR of 20.6% from 2022 to 2027, says Fact.MR, a market research and competitive intelligence provider.
- Based on the Global Burden of Disease analysis, low back pain is the most common cause of disability worldwide, affecting an estimated 540 million individuals at any given time.
The ageing population’s increased frequency of degenerative spine illnesses, the rising need for minimally-invasive surgical procedures, and technological advancements in artificial discs are primary market drivers.
To replicate the function of damaged intervertebral discs, an artificial disc is implanted into the cervical or lumbar spine. It consists of two endplates, which are frequently made of cobalt-chromium, medical-grade polyethylene, or titanium alloy. As a result of its elasticity and compressibility, it promotes movement and flexibility while easing back pain.
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A clinical trial revealed that the anterior cervical discectomy and fusion approach was never clinically superior to the cervical-total disc replacement (C-TDR) method. This will drive up the number of patients who undergo disc replacement surgeries, speeding up market growth.
Market expansion will be dented by the absence of reimbursement policies for disc replacement. The high out-of-pocket expenses related to artificial disc replacement operations will hurt market growth over the coming years.
Due to the significant adoption rate of sedentary lifestyles, North America dominates the artificial discs market. During the forecast period of 2022 to 2027, the Asia Pacific market is anticipated to develop at the fastest pace due to the region’s high proportion of senior population and associated old-age orthopedic disorders.
Key Takeaways from Market Study
- The global market for artificial discs is currently valued at US$ 905 million.
- The market is projected to reach US$ 2.3 billion by 2027.
- China’s artificial discs market is predicted to rise at a CAGR of 15% from 2022 to 2027.
- Global sales of cervical disc replacement products are expected to increase at a significant CAGR of 21% during the next 5 years.
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Winning Strategy
Companies that compete in the worldwide artificial discs market are concentrating on activities related to new product developments and launches.
Globus Medical, Zimmer Biomet, B. Braun Melsungen, Centinel Spine, LLC, and Medtronic Plc are a few of the businesses that are now ruling the market.
- A cervical disc called Mobi-C was introduced in Japan in October 2018 by one of the manufacturers of orthopaedic products, Zimmer Biomet. This product is expected to expand the artificial spine discs market in the Asia Pacific region.
- The whole cervical disc replacement procedure employing the company’s ProDisc Vivo product has been evaluated in clinical tests by Centinel Spine, LLC in 2019 and has been shown to dramatically enhance patient outcomes.
Key Companies Profiled
- Medtronic
- Orthofix Medical Inc.
- Globus Medical
- Aesculap, Inc.
- NuVasive, Inc.
- AxioMed LLC
- Zimmer Biomet
- SpineArt SA
- Synergy Spine Solutions, Inc.
- Centinel Spine
Key Segments in Artificial Discs Industry Research
- By Material :
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- Metal & Plastic
- Metal
- By Indication :
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- Cervical Disc Replacement
- Lumbar Disc Replacement
- By End User :
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- Hospitals
- Ambulatory Surgical Centers
- Others
- By Region :
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- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global artificial discs market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of material (metal & plastic, metal), indication (cervical disc replacement, lumbar disc replacement), and end user (hospitals, ambulatory surgical centers, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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