Artificial Disc Market Size Is Projected To Be Around $4.8 Billion By 2025: Crystal Market Research
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A research study titled, “Artificial Disc Market by Product and Material - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the artificial disc market is projected to be around $4.8 billion by 2025.
Artificial discs are synthetic replacements for damaged intervertebral discs present in the cervical or lumbar regions of the spine. In artificial disc replacement surgery, a painful disc is replaced with an artificial disc. Cervical spine disorders are illnesses resulting from the damage/breakdown of the normal architecture of the cervical spine. The major causes for cervical spine disorders are obesity, genetic factors, and smoking. Lumbar degenerative disc disorder is a disease of lumbar spine or lower back. The major causes of lumbar degenerative disc disease are micro-motion instability and inflammation.
Cervical artificial disc segment occupied a major share of the global artificial disc market in 2016. This major share is attributed to factors such as rising prevalence of cervical disc degenerative diseases and increase in number of cervical artificial disc surgeries.
Metal on biopolymer segment held the major share of the global artificial disc market in 2016, due to rising acceptance among medical professionals because of its improved biocompatibility. Metal on metal artificial disc segment is anticipated to grow at a double digit CAGR over the forecast period, due to its low cost as compared to metal on biopolymer artificial disc.
U.S. held a major share of the North American artificial disc market in 2016, owing to the growing incidence of cervical disc degenerative diseases coupled with high disposable income of the people in the region. Japan held more than one-fourth share of the Asia-Pacific artificial disc market in 2016. High disposable income along with sophisticated healthcare infrastructure will contribute to the growth of the Japanese market.
Some of the players competing in the artificial disc market are Zimmer Biomet Holdings, Inc., Globus Medical, Inc., Stryker Corporation, DePuy Synthes Spine, Inc., NuVasive, Inc., Medtronic, LDR Holding Corporation, and Aesculap Implant Systems, LLC. Product development is the key strategy adopted by the companies to ensure competitive advantage over other market players. For instance, in July 2016, Medtronic received FDA approval for Prestige LP Cervical Disc for treatment of cervical disc disorder which causes spinal cord or nerve compression at adjacent levels between c3 and c7 segments of the neck.
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Key Findings of the Research Study:
- Cervical disc segment held over two-third share of the global artificial disc market in 2016 and is expected to grow at a double digit growth rate over the forecast period as a result of rising incidence of cervical disc degenerative diseases.
- Metal on biopolymer segment held over three-fourth share of the artificial disc market in 2016, due to its increased acceptance among healthcare professionals.
- North America held more than half of the global artificial disc market in 2016, owing to the presence of advanced infrastructure and large number of disc replacement surgeries performed in the region due to presence of trained surgeons.
- Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to advances in healthcare infrastructure and rising incidence of degenerative disc diseases.
- UK held a little below one-fourth share of the European artificial disc market in 2016 and will grow at a double digit growth rate over the forecast period due to increasing geriatric population and state-of-the-art healthcare infrastructure.
About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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