Dublin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The "Slip Disc Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The slip disc market size has grown strongly in recent years. It will grow from $7.99 billion in 2023 to $8.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The slip disc market size is expected to see strong growth in the next few years. It will grow to $11.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
The growth during the historic period can be attributed to the rising elderly population, increased awareness of spinal health, a rise in sedentary lifestyles and poor posture, the development and popularity of minimally invasive surgical options, and broader health insurance coverage. The anticipated growth during the forecast period can be attributed to enhancements in healthcare infrastructure, continued research and development efforts, increased availability and effectiveness of physical therapy and rehabilitation services, a rising focus on managing chronic pain, and a growing preference for non-surgical and less invasive treatment options. Key trends include advances in imaging technologies, innovations in medical devices and surgical techniques, the adoption of robotic-assisted spine surgery, artificial disc replacement, and the use of telemedicine and digital health solutions.
The rising incidence of spinal cord injuries is anticipated to drive growth in the slip disc market. Spinal cord injuries, which result in a loss of function such as mobility or sensation and can lead to conditions such as slipped discs, are increasing due to higher rates of motor vehicle accidents, sports injuries, and falls. As the prevalence of spinal cord injuries grows, so does the demand for effective treatments and interventions for slipped discs.
For example, in March 2024, the National Center for Biotechnology Information (NCBI), a US-based government agency, reported that 17,000 new cases of spinal cord injury occur annually in the United States, with approximately 282,000 individuals living with these injuries. Additionally, a May 2023 article by NCBI highlighted that low back pain (LBP) affected 619 million people globally in 2020, with projections suggesting an increase to 843 million by 2050. Consequently, the rising number of spinal cord injuries is expected to fuel the growth of the slip disc market.
Key players in the slip disc market are concentrating on developing innovative solutions, such as biologic patches, to enhance treatment options and patient outcomes. A biologic patch is a regenerative tissue scaffold designed to support the healing and repair of damaged intervertebral discs using biological materials and growth factors.
For instance, in November 2023, researchers from the Perelman School of Medicine at the University of Pennsylvania and the CMC VA Medical Center introduced a new biologic patch, Tension-activated repair patches (TARPs). These patches aim to revolutionize the treatment of herniated discs by leveraging the body's natural movements to provide a more effective disc repair solution. TARPs are designed to re-cushion the vertebrae and restore tension in damaged discs, as well as fill the gaps left by herniations, thereby reducing further disc deterioration and alleviating pain.
In September 2023, Silony Medical International AG, a Switzerland-based medical technology manufacturer, acquired Centinel Spine LLC for an undisclosed amount. This acquisition aims to broaden Silony's presence in the spinal surgery market by incorporating Centinel Spine's specialized products and expertise in spinal fusion technology. Centinel Spine LLC, a US-based company, offers total disc replacement (TDR) devices for both the cervical and lumbar spines.
North America was the largest region in the slipped disc market in 2023. The regions covered in the slip disc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the slip disc market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $8.53 Billion |
| Forecasted Market Value (USD) by 2028 | $11.12 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Slip Disc Market Characteristics
3. Slip Disc Market Trends and Strategies
4. Slip Disc Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Slip Disc Market Size and Growth
5.1. Global Slip Disc Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Slip Disc Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Slip Disc Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Slip Disc Market Segmentation
6.1. Global Slip Disc Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Thoracic Herniated Discs
- Lumbar Herniated Disc
- Cervical Herniated Discs
6.2. Global Slip Disc Market, Segmentation by Diagnosis, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Physical Examination
- Nerve Conduction Test
- Imaging Tests
6.3. Global Slip Disc Market, Segmentation by Medications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Therapy
- Surgery
6.4. Global Slip Disc Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hospital Use
- Clinic Use
- Household
- Other Applications
7. Slip Disc Market Regional and Country Analysis
7.1. Global Slip Disc Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Slip Disc Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Companies Featured
- Medacta International SA
- Hitachi Ltd.
- General Electric Company
- Pfizer Inc.
- GlaxoSmithKline plc
- Medtronic plc
- Siemens Healthcare Private Limited
- Koninklijke Philips N.V
- Stryker Corporation
- Teva Pharmaceutical Industries Ltd.
- DePuy Synthes Companies
- Zimmer Biomet Holdings Inc.
- Smith & Nephew plc
- NuVasive Inc.
- Canon Medical Systems Corporation
- Globus Medical Inc.
- Orthofix Medical Inc.
- Accuray Incorporated
- Corin Group
- Precision Spine Care
- BioSpine Institute
- Vertebral Technologies Inc.
- Captiva Spine Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hp4zz0
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