Dublin, Oct. 11, 2022 (GLOBE NEWSWIRE) -- 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.
A disc is a soft, cartilage-like tissue-based cushioning structure that is located between the various spine bones. A material implanted into the spine to mimic the functions of a normal disc is called an artificial disc, spine arthroplasty device, or disc prosthesis. These compressible discs, which are mainly constructed of metal, biopolymer, plastic, or a combination of the two, help to maintain flexibility and range of motion.
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.
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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Key Segments in Artificial Discs Industry Research
- By Material :
- Metal & Plastic
- Metal
- By Indication :
- Cervical Disc Replacement
- Lumbar Disc Replacement
- By End User :
- Hospitals
- Ambulatory Surgical Centers
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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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. The increasing demand for minimally-invasive surgeries and the efforts made by businesses to increase their regional presence is to account for this growth.
- Globus Medical
- Zimmer Biomet
- B. Braun Melsungen
- Centinel Spine, LLC
- Medtronic Plc
- One of the manufacturers of orthopaedic products, Zimmer Biomet, introduced a cervical disc called Mobi-C in Japan in October 2018. 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.
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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