Artificial disc replacement market Research Report- Forecast to 2030

Artificial Disc Replacement Market Research Report Information, by Disc Type (Composite Discs, Elastic Discs, Mechanical Discs, Others), Location (Cervical Discs Replacement and Lumber Disc Replacement), Material (Metal, Biopolymer, and Others)–Global Forecast Till 2030

ID: MRFR/MED/0886-HCR | 85 Pages | Author: Rahul Gotadki | March 2024         

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Artificial Disc Replacement Market Overview

 

The artificial disc replacement market is expected to reach USD 1,367.7 Million by 2030 at 11.8% CAGR during the forecast period 2022-2030

Accordingly, this treatment is necessary to treat back pain through a medical procedure. Therefore, the degeneration of the intervertebral discs has been replaced by artificial discs for relieving the pain. Apart from that, artificial disc replacement helps in reducing back pain as well as the maintenance of spinal mobility is practiced. Thus, these factors attempt to propel the market growth and have been considered as the basic medical procedure for the treatment of back pain.

Further, to this context, it has been obtained that an increase in the demand of spending on research and development has maintained spine mobility with aggressive strategies for the betterment of back pain issues. For instance, it has been noticed that Zimmer Biomet has explained to make the cost-effective up to USD 1 billion by the forecast period. However, the rise in the cost of disc replacement surgeries has been observed and it attempts to include the technical challenges faced by surgeons during the replacement surgeries. Hence, this affects or rather hamper the growth of the artificial disc replacement market during the mentioned assessment period.

 

Covid 19 Analysis

The sudden outbreak of the covid 19 situation has worsened the market growth in every possible way. Thus, it has been managed to mention that WHO’s statement has been considered to be official and has been addressed as the basic situational analysis. Apart from that, this particular market has observed that the pandemic situation has changed the artificial disc replacement market dynamics, observed requirements, and trends. This has been idealized as the changed situation after the covid situation and lockdown crisis. Moreover, the financial background of the mentioned artificial disc market has a huge negative impact during the lockdown days. Further, it has managed to anticipate the market effect as well as the regaining of the harmful situation after the lockdown days in the coming period.

Artificial Disc Replacement Market Dynamics



  • Drivers



The market drivers attempt to portray that the factors that involve the growing awareness also intend to state of the people have managed to benefit the devices by replacing the process over the life treatment devices. These devices have attempted to state that the rapid rise in the growth of medical procedures has been affected. Apart from that, the demand for minimal facilities of medical devices along with the global ADR of the market growth has been affected.



  • Restraints



One of the major factors of restraints states that the high cost of the devices, technical challenges, regulatory requirements, and the situations faced by the surgeons. Hence, it attempts to showcase that the importance of the artificial disc devices along with the lack of uniform reimbursement of the policies has been hampered. This has affected the demand of the artificial disc replacement market.

Opportunities

In this concise market of opportunities, it has been addressed that the increase in the spending on research and development has been addressed and it stares to be considered as an aggressive strategy. Apart from that, within this stated market, the opportunity of acquiring by the top market players for enhancing the growth of the market has been idealized as well. Therefore, the devices have been referred to as the basic structure that provides an ailment to the body of a human for better analysis. Hence, the implant of the device and the aid of retaining addresses to be flexible and its movement has been rapid growth with the artificial disc replacement market.



  • Challenges



One of the basic challenging factors addressed states that this market has been addressed and it cumulates that the lack of disc replacement has been addressed as well. This suggests the importance of the treatment has been lacking and it is indulged more for reimbursing the situation. Apart from that, another challenging factor has been addressed and it claims that the high cost of the medical structures and has been harsh for many people to afford. Hence, this factor has affected the growth of the market global market and has been addressed to be affected worldwide.

Cumulative Analysis

The Compound Annual Growth Rate (CAGR) is predicted to grow at 19.6%. Accordingly, the market growth has expanded within the forecast period of 2021-2027. Various drivers such as the growing awareness of the treatment and the medical devices for ailing the chronic diseases. This has helped in the rising industrialization of the world. 

 

Value Chain Analysis

An increasing emphasis on using the artificial discs for the rise in the market will impact the market positively. Also, the growing initiatives by the government for the development and research will improve the value chain of the Artificial disc replacement Marketin the upcoming years.

 

Artificial Disc Replacement Market Segmentation

According to themarket segmentation, the artificial disc market has been segmented based o the type, material, and location.

It clearly states that based on type, this particular market has been segmented under the composite classification of the disc, mechanical disc, and many more. Further, the mechanical disc has been divided into the Cineflex disc, maverick disc, and the flex core disc as well. On the other hand, the location segmentation clearly states the importance of cervical disc replacement, lumbar disc replacement as well.

Based on the material, the market has been segmented under biopolymer, metal, and mixed for better growth in the future.

 

Artificial Disc Replacement Market Regional Analysis

In this particular analysis, the regional analysis of the market has been segmented under the different regions. America has been likely to dominate the market of artificial disc globally. Further, the artificial disc replacement market has been owned to the well-established market and it signifies to be in the healthcare sector, orthopaedic surgeries, and the adoption of the market. Therefore, the replacement of the procedures and the inclusion of the two-level disc replacements. Apart from that, the European market is expected to be the second-largest disc replacement after the Americas. The factors such as propelling the regional growth of the market tend to increase the expenditure on healthcare, an increase in the geriatric population within this region. The favourable government and the regulatory policies have been increasing as well. Hence, the device has been used in treating the cervical disc with the two adjacent levels in between the C3-C7 with basic segments.

On the other hand, Asia-Pacific has expected to make the growth as the fastest growing artificial disc replacement and it attempts to level the artificial disc replacement market during the forecast period. The rise in the utility of the minimally invasive method and includes two of the degenerative disorders. Therefore, the government initiatives and the quality of the healthcare services. These accounts are to be available at affordable prices. According to the study conducted by the NCBI, the disc degenerative disorder has been commonly found in the sector, the poor economic condition has been based upon technical knowledge and it appears to be lacking in nature.

 

Artificial Disc Replacement Market Competitive Landscape

The Artificial Disc Replacement market comprises moderate competition and it initiates the importance of the several major players that competes with the market. Hence, some of the major key players are:



  • Globus Medical

  • Zimmer Biomet

  • Braun

  • Medtronic Plc

  • NuVasive Inc

  • Orthodox Medical Inc

  • K2M

  • RTI Surgical Holdings

  • Centinel Spine

  • AxioMed LLC

  • LLC



Recent Development



  • In 2018, January, the acquisition has been made between NuVasive Inc the SafePassage to strengthen the IONM business model.

  • In February 2016, K2M Inc received CE for the marking approval of the new generation Rin Cervical Disc System and that treatment has been done by degenerative disease. Hence, this approval has helped the company to strengthen the existing product and the generation of the revenue.

  • In September 2016 the Globus Medical Inc has been acquired to maintain the international operation as well as the distribution channel of Alphatec Holdings in the field of medical devices.



Artificial Disc Replacement Market Report Overview

This report mainly includes all the details and it tends to initialize growth along with the better efficiency of the companies with particular management. It states that the driving factors have been interrupted due to the covid 19 situation. The entire analysis is based upon the Covid 19 analysis, regional analysis, market overview, segmentation analysis, market dynamics and it mainly includes the challenges, opportunities, restraints, and driversFurther, the competitive landscape and the other sections are been presented. Hence, all of the information, that has been collected is from the primary as well as the secondary sources.

By Geographically



  • North America

  • Europe

  • Asia- Pacific

  • Middle-East

  • Africa

  • Other regions of the world



Segmentation

By Type



  • Cervical Artificial Disc

  • Lumbar Artificial Disc



By Material



  • Metal on Polymer

  • Metal on Metal



By End-User



  • Hospital and Clinics

  • Ambulatory Surgery centers



By regions



  • North America



  • Europe



  • Asia- Pacific



  • Middle-East


Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : USD 1,367.7 Million
  CAGR   11.8% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Disc Type, Location and Material
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Alphatec Spine Inc., Medtronic, DePuy Spine, Stryker, Smith & Nephew Plc, Globus Medical Inc., Aesculap Implant Systems, LLC, NuVasive, Inc., Zimmer Biomet, AxioMed LLC, Joimax GmbH, Orthofix Inc. and K2M Inc.
  Key Market Opportunities   Increasing spending on research and development and aggressive strategies acquired by top players
  Key Market Drivers ·  Rising occurrence of sports and trauma-related injuries·  Increasing orthopedic surgeries, and increasing geriatric population




Frequently Asked Questions (FAQ) :

The outlook of the Global Artificial Disc Replacement Market looks very promising.

Global Artificial Disc Replacement Market is projected to grow at 11.8% CAGR during the assessment period (2022-2030).

Rising occurrence of sports and trauma-related injuries and increasing orthopedic surgeries are the major tailwinds pushing the growth of the Artificial Disc Replacement Market.

North America holds the largest share in the Artificial Disc Replacement Market, followed by Europe and the Asia Pacific, respectively.

Medtronic, Alphatec Spine Inc., DePuy Spine, Smith & Nephew Plc, Stryker, Globus Medical Inc., NuVasive, Inc., Aesculap Implant Systems, LLC, Zimmer Biomet, oimax GmbH, AxioMed LLC, K2M Inc., and J Orthofix Inc., are some of the major players operating in the artificial disc replacement market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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