Burlingame, Feb. 13, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global degenerative disc disease treatment market is estimated to be valued at US$ 2,235.1 million in 2022 and is expected to exhibit a CAGR of 9.2% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Degenerative Disc Disease Treatment Market:
Adoption of inorganic growth strategies such as product approval by key market players is expected to drive the global degenerative disc disease treatment market over the forecast period. For instance, in September 2020, Smart Soft Healthcare, a software company, announced that they had received 510(k) clearance from the U.S. Food and Drug Administration for CoLumbo, an image post processing and measurement application that provides quantitative measurements from MR images of the lumbar spine.
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Key Market Takeaways:
The global degenerative disc disease treatment market is expected to exhibit a CAGR of 9.2% during the forecast period due to the increasing inorganic strategies such as product launch by the key market players. For instance, in January 2021, RIVANNA MEDICAL, a manufacturer of medical technologies, announced that they had launched Accuro, automated spinal navigation system, with thoracic functionality. Accuro Lumbar and Thoracic presets, with SpineNav3D technology, facilitate image interpretation of individual 2D lumbar and thoracic spine scans by automating spinal bone landmark detection and depth measurements and providing a real-time assessment of scan plane orientation in 3D.
Among product type, cervical spine device segment is expected to boost the market due to increasing product approval by regulatory authorities such as the U.S. Food and Drug Administration over the forecast period. For instance, in August 2022, ZAVATION, a medical device company, announced that they had received an approval from the U.S. Food and Drug Administration for Varisync, a cervical intervertebral body fusion device, this allows Zavation's surgeon partners to use these plate and spacer options together as a system or pair individual components with any of Zavation's existing cervical portfolio options.
Competitive Landscape:
Key players operating in the global degenerative disc disease treatment market include Medtronic, Globus Medical, Johnson & Johnson Services, Inc., Zimmer Biomet, B. Braun SE, RTI Surgical, Cousin Biotech, ulrich medical USA, Fresenius Kabi AG, Abbott, Spine Wave, Inc., RIVANNA MEDICAL, ZAVATION, Orthofix US LLC., Spinal Simplicity, Nexus Spine, NuVasive, Inc., Aurora Spine, Inc., 4WEB Medical
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Market Segmentation:
- Global Degenerative Disc Disease Treatment Market, By Product Type:
- Drugs
- Acetaminophen
- NSAIDs
- Oral steroids
- Muscle Relaxants
- Devices
- Cervical Spine
- Lumbar Spine
- Thoracic Spine
- Spinal Fusion
- Drugs
- Global Degenerative Disc Disease Treatment Market, By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Center
- Global Degenerative Disc Disease Treatment Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- By Country
- North America
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