Artificial Disc Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: LS23121401 | Research Suite: Report (PDF) & Market Data (Excel)
The artificial disc market was valued at USD 1.9 billion in 2022, and a CAGR of 18.1% is expected during the forecast period. Artificial discs are used to treat degenerative disc disease in the spine. They replace damaged discs, aiming to restore mobility and function while reducing pain. These implants mimic the natural motion of spinal discs, allowing patients to maintain flexibility and movement.
The artificial disc market is driven by factors such as an aging population, an increasing prevalence of degenerative disc diseases, advancements in technology, demand for minimally invasive surgeries, and the pursuit of improved patient outcomes and faster recovery times, which are driving significant growth in the market. Expanding awareness among patients and healthcare professionals is driving the growth of the market significantly. Developing healthcare infrastructure and rising disposable income are the reasons behind the market's significant growth.
Impact
of Covid-19
The COVID-19 market initially led to a slowdown in elective
surgeries, impacting the artificial disc market. Delays in procedures, reduced
patient visits, and the prioritization of urgent cases affected market growth.
However, there was an increasing focus on less invasive surgeries and innovative
healthcare solutions post-pandemic, which led to a rebound in the demand for
artificial discs. The adoption of telemedicine and remote consultation has
influenced patient awareness and interest in these advanced treatments.
Increasing awareness among people post-pandemic about health issues is the key
reason behind the growth of this market. The increasing geriatric population
worldwide is driving the growth of the market significantly.
Growth
Drivers
·
Rising Incidences of Spinal Disorders
·
Technological Advancements
·
Increasing Health Awareness
·
Preference for minimally Invasive
procedures
·
Increasing geriatric population
·
Healthcare infrastructure, and
development
·
Increasing awareness about the benefits
of artificial disc implant
Rising awareness about degenerative disc diseases and
spine-related disorders drives the demand for artificial disc implementation.
Ongoing technological innovations, such as improved material and design for
artificial discs, contribute to better patient outcomes and encourage their adoption.
Growing preferences for minimally invasive surgeries, due to reduced recovery
time needed, shorter hospitals stays, and lower complication rates boost the
growth in the market.
Increasing aging populations worldwide contribute to the
increasing prevalence of spine-related issues, which is driving the growth of
the market significantly. Greater awareness among patients and doctors
regarding the artificial disc implant supports the growth of the market.
Advancement in healthcare infrastructure, and advanced surgical techniques are
driving the growth in the market. Government initiatives for improving
healthcare infrastructure are also driving the growth in the North American
market and the European market significantly during the forecast period.
Segmentation
Disc
Type
·
Cervical
·
Lumbar
Material
Type
·
Metal on Metal
·
Metal on Polymer
Indication
·
Spinal Trauma
·
Degenerative Spine Disease
Regional
Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Europe
·
Middle East and Africa
Artificial
Disc Type Segmentation
On the basis of type, the artificial disc market is segmented into cervical and lumbar. The lumbar artificial disc is the leading segment due to the higher prevalence of disc-related issues and the greater number of disc replacement surgeries. Performed in the lumbar region compared to the cervical region. However, due to advancements in technologies, changes in surgical approaches, and evolving patient preferences, the market dynamics do change at times. Cervical discs are designed to maintain motion and stability in the neck. These devices aim to mimic the function of the natural disc, allowing for movement and stability in the neck while providing relief from conditions like degenerative disc diseases.
Artificial
Disc Material Type Segmentation
On the basis of
material segmentation, the market is divided into two types: metals on metals
and metals on polymer segments. Metals on metals are those segments that are
entirely made of metals. It is the leading segment. Metals on polymers indicate
those with a combination of metal and polymer materials in their composition.
Artificial
Disc Market Indication Segmentation
On the basis of indication, the artificial disc market is
segmented into spinal trauma and degenerative spine diseases. Spinal trauma
refers to injuries affecting the spinal cord, vertebrate, or surrounding
tissues due to an accident, falls, or other traumatic events. These injuries
vary widely in severity, ranging from minor fractures to severe spinal cord
damage, which results in paralysis or loss of sensation. Treatment involves
stabilizing the spine, surgery in some cases, and rehabilitation to help regain
function and mobility. Degenerative spine diseases are conditions that affect
the spine and its structure, often causing pain, stiffness, and reduced
mobility. Common degenerative spine diseases include:
Degenerative
Disc Diseases
Spinal
Stenosis
Spondylosis
Herniated Disc
Regional
Outlook
On the basis of the regions, the artificial disc market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. The United States of America and Canada have robust healthcare infrastructure and a solid footprint of healthcare facilities. Due to the increasing awareness of people and increasing disposable income, North America will be the leading segment in the market during the forecast period. The artificial disc market in Europe and the Asia-Pacific region has shown considerable growth due to increasing cases of spinal disorders. And technological advancements in healthcare. In these regions, various companies are actively involved in developing innovative artificial disc technologies to address spinal issues and enhance patient outcomes.
Regulatory changes, healthcare infrastructure development, and ongoing research and development activities are driving the growth of the market. The increasing aging population and increasing awareness among patients as well as doctors are increasing the growth of this market. China and India, the two most populous countries in the world, are among the biggest markets worldwide. The Latin America region is witnessing moderate growth due to poor healthcare infrastructure in comparison to North America and European countries. Brazil and Argentina are showing significant growth with the passage of time.
Key
Players
·
Globus Medical
·
Medtronic Plc
·
Centinel Spine
·
Zimmer Biomet
·
B. Braun Melsengen
·
Orthofix Medical
·
NuVasive INC
·
Aesculap INC
·
Spine Art S.A.
·
AxioMed LLC
· Other Players
Global Artificial Disc Market research report presents a
strategic analysis of the global Artificial Disc Market and a forecast for its
development in the medium term, taking into account the impact of COVID-19 on
it.
This report delivers market size, regional and country
market data, segmentation growth, market share, competitive landscape,
company’s Artificial Disc revenue analysis, strategies of domestic and global
market players, opportunities analysis, strategic market growth analysis, and
technological innovations. It analyses historical and current market data to
accurately gauge its future growth potential. This market report provides
in-depth analysis and insight of market drivers, challenges, trends & opportunities.
At the same time, comprehensive coverage of major vendors (recent product
development & industrial activities, company overview, insights on business
strategy & financial performance, company SWOT analysis) is provided to
give competitive overview. This study presents most detailed (COVID-19 updated)
and in-depth analysis about the global Artificial Disc market, covering all
global regions and countries. The report provides intricate dynamics for each
of the countries covered, offering unmatched value, accuracy and expert
insights.
Report
Purpose
The purpose of the report is to portray the state of the
global Artificial Disc Market and to present real and expert-verified data and
insights about the market values, volumes, dynamics, segmentation and prices.
It also offers forecast for the market development in the short and medium term
and the impact COVID-19 has and will have on it. Further, it covers in-depth
analysis of the key market players, industry trends and insights, growth
drivers and challenges and all other factors, influencing the growth of market.
Scope
of the Report
The
report on the global Artificial Disc Market presents:
·
Historical Data: Market data including
volume, growth rate, value, and dynamics; Market segmentation (by product, by
region and by country; etc.) for the last five years;
·
Strategic Insights for companies
looking to launch new products to diversify their business, exploring leading
countries to establish supply chain, and top countries to increase company export
and go global
·
Comprehensive Regional Market Data:
volume, growth rate, value, market share and dynamics of for the last five
years (broken down by region);
·
Market Dynamics: Analysis of the
factors impacting the market including demand drivers, industry trends and
challenges and the short and the medium-term impact of COVID-19 presently and
in near future;
·
Analysis and forecast for the global
economy and demographics;
·
Supply chain and value chain analysis,
risk analysis of supply side and demand side;
·
Market Forecast for next ten years
(market share, year-on-year growth, volume, value and segmentation by region);
·
Company profiling of key market players
covering company’s Artificial Disc revenue, sales and market share;
·
Comprehensive coverage of competitive
landscape offering market positioning and snapshot of key business strategies;
·
Porter’s Five Forces analysis;
How Can
You Benefit from This Report?
In this
report you can:
·
Track and identify key market trends
and insights and key drivers behind recent market changes and see the impact
COVID-19 has and will have on the market in both the short and the medium term;
·
Get access to reliable and verified
market data, with which aids you to make confident business decisions;
·
Analysis of market numbers, such as
volume, value, forecasts, dynamics, segmentation and market structure – past,
present and future;
·
Gain competitive intelligence about the
market at low cost as compared to other reports;
·
Understand growth potential countries
and regions, opportunities, growth drivers and barriers on the market;
·
Own data spreadsheet for comparison at
global, regional and for individual country, covered in the report;
·
Analyse countries with highest and
lowest demand for Artificial Disc and countries in each region which will grow
at highest growth in next five years.
·
Strategically plan business strategy
based on verified market data and expert insights;
·
Identify revenue generation
opportunities in the countries and regions within the market;
·
Get market trend data of last 10 years
and how market growth will unfold in next ten years;
·
Market share analysis and positioning
of leading market players;
·
Get an assessment of competitive
intensity, fragmentation and environment and understand competitive threats;
·
Get hands on data your competitors
might already have and be acting upon;
·
Assess your position on the market,
choose a new product line market to enter or get to know a completely new
market;
·
Save money, time and resources by not
purchasing/collecting data and compiling them by yourself;
·
Extensive analysis of all required
market data in one place;
·
Empower your marketing, branding,
strategy, product and business development, consumption and supply functions
with valuable market insights;
·
Assess market attractiveness and BPS
analysis for region and country and strategies business activities;
·
Develop your own market entry or market
expansion strategy or validate your current strategy;
·
Get easy to read, perceive and
understand report.
What
Kind of Decisions You Can Make Based on the Data in This Report?
This
report detailed and all-inclusive data on Artificial Disc Market, providing
valuable support to make vital decisions regarding:
·
Strategic planning;
·
Industry analysis;
·
Target Market/Marketing and sales;
·
Regional and country assessment and
opportunity analysis;
·
Market entry into new product group or
country;
·
Pricing of existing and new products;
·
New product development and Innovation
in existing products;
·
Supply chain management;
·
Market evaluation;
·
Mergers, Expansions, Joint Ventures and
acquisitions.
Who Is
This Report for?
This
report is intended to give broad overview of market to people who already are
working on this market:
·
C-suite Level executives;
·
Directors;
·
Industry strategists;
·
Marketing professionals;
·
Business development professionals;
·
Product developers;
·
Product marketers and strategists;
·
Product managers;
·
Project managers;
·
Suppliers;
· Traders;
This
report also caters to people who are not involved in the market,
representatives of investors, consultants, advisors and financial institutions:
·
Management consultants;
·
Investment managers;
·
Financial professionals;
· M&A managers.
Regional
Coverage
The report on the global Artificial Disc Market breaks down
the world into the following regions & countries and covers every single
one of them:
Report
Customization
If the report as is does not serve your market research needs, get it customized at free of cost, as per your own specific requirements. Feel free to contact us for more information!