Global Artificial Disc Market set to exceed USD 4.5 billion by 2024; according to a new research report by Global Market Insights.
Technological advancement in artificial discs will serve to be another positive impact rendering factor that will surge the artificial disc business growth. Industry players are focusing on developing novel technologies and improvising the existing products. For instance, in 2013, Mobi-C, a two-level artificial disc, was launched by Zimmer Biomet in the U.S. Availability of such multi-level artificial discs for patients having issues at two consecutive spinal discs will fuel the demand for such advanced products. Furthermore, increasing investment in R&D to develop innovative products will upsurge the artificial disc market growth. However, stringent regulatory framework for approval of artificial discs may hamper the artificial disc market growth. High cost of implants coupled with lack of reimbursement for disc replacement may further impede the artificial disc market growth.
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Metal-on-biopolymer segment dominated the artificial disc market in 2017, with USD 1 billion revenue and is projected to witness lucrative growth during the analysis timeframe. Metal-on-biopolymer artificial discs have better biocompatibility and offer ease of insertion as compared to the metal-on-metal discs. Increasing demand for less invasive procedures for disease treatment as well as growing adoption of artificial discs over fusion surgeries will upsurge the segmental growth during the forthcoming years.
Cervical artificial disc segment is estimated to witness 22.3% CAGR over the forecast period. The segment growth is highly attributable to the benefits offered by cervical disc replacement procedures in various musculoskeletal disorders such as decompression of axial neck or arm pain. Increasing demand for motion-preserving surgeries over motion creating procedures such as spinal fusion will accelerate the market growth. Growing prevalence of cervical disc diseases among adults due to adoption of sedentary lifestyle will further boost market growth in the coming years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Paradigm Spine, LLC
- Simplify Medical, Inc.
- K2M Design, Inc.
- AxioMed, LLC
- BKK B. Braun Melsungen AG
- DePuy Synthes Companies
- Zimmer Biomet
- Globus Medical
Lumbar artificial disc segment is estimated to show 21.0% CAGR over the forecast period due to rapidly growing elderly patient population suffering from orthopaedic diseases. Low back pain (LBP) is one of the major disabilities among the geriatric population that limits functionality and decreases the quality of life. Increasing prevalence of LBP will increase the demand for lumbar total disc replacement (LTDR) procedures, thereby boosting the lumbar artificial disc segment growth. Growing applications of LTDR procedure in patients with discogenic pain and degenerated lumbar spine should further accelerate the segmental growth.
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U.S. artificial disc market accounted for USD 541.3 million in 2017 and is projected to show similar growth over the analysis period. Increasing prevalence of degenerative disc disease in the region owing to high adoption of sedentary lifestyle coupled with lack of exercise will drive the artificial disc business growth. As per the Centers for Disease Control and Prevention (CDC) statistics, around 54.4 million adults in the U.S. were diagnosed with arthritis in 2015. Strong foothold of key industry players in the U.S. will increase the demand for advanced products for musculoskeletal disease treatment. Huge investment in R&D for development of innovative products and technology will elevate the regional growth during the forthcoming years.