WASHINGTON, Sept. 25, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global Artificial Disc Replacement Market has been steadily growing due to the increasing prevalence of degenerative disc diseases and the rising geriatric population.
According to Vantage Market Research, the global Artificial Disc Replacement Market is estimated to be valued at USD 1.3 Billion by 2030 and is expected to exhibit a CAGR of 12.3% from 2023 to 2030. The global Artificial Disc Replacement market grew to USD 0.6 Billion in 2022.
Artificial Disc Replacement is a surgical intervention that replaces a damaged or degenerated spinal disc with an artificial one. There are two main types of artificial discs: total disc replacement and disc nucleus replacement. Total disc replacement involves replacing the entire disc with a prosthetic, while disc nucleus replacement only replaces the disc's inner core. Artificial Disc Replacement aims to relieve pain, restore mobility, and maintain normal spinal function for individuals with disc-related problems.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/artificial-disc-replacement-market-2281/request-sample
Key Highlights
- The increasing prevalence of degenerative disc disease owing to chronic back pain is raising the number of spinal surgeries performed around the globe. This is one of the main factors driving the industry's growth.
- The Metal & Plastic category of the Material Type segment led the market in 2022 owing to the vast usage of plastics for manufacturing artificial discs, while the metal segment held a significant share due to rising research activities in the segment.
- The cervical disc replacement segment held the largest share of the market in 2022 because of the high product availability.
- North America led the global Artificial Disc Replacement industry in 2022, accounting for a revenue share of more than 42.90% owing to the presence of significant companies in the area.
- The Asia Pacific is expected to be the fastest- CAGR from 2023 to 2030 because of the region's rising awareness regarding spinal surgeries.
The Artificial Disc Replacement market is set to experience substantial growth due to the rising prevalence of spinal disorders and the demand for minimally invasive surgeries. Factors such as advancements in Artificial Disc Replacement devices and the growing geriatric population also contribute to market growth. Key players in the market are Medtronic, Orthofix Medical Inc., Globus Medical, Aesculap Inc., Zimmer Biomet, to mention a few. Hence, there are several choices for patients in a very competitive market.
Top Companies in The Global Artificial Disc Replacement Market
- Medtronic PLC (Ireland)
- Orthofix Medical Inc. (U.S.)
- Globus Medical (U.S.)
- Aesculap Inc. (U.S.)
- NuVasive Inc. (U.S.)
- AxioMed LLC (U.S.)
- Zimmer Biomet (U.S.)
- SpineArt SA (Switzerland)
- Synergy Spine Solutions Inc. (U.S.)
- Centinel Spine (U.S.)
To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: https://www.vantagemarketresearch.com/artificial-disc-replacement-market-2281/request-sample
OR
Enjoy a Fabulous 50% Discount with code "SEP50"! Don't miss out on these incredible savings @ https://www.vantagemarketresearch.com/buy-now/artificial-disc-replacement-market-2281/0
Factors affecting the growth of the Artificial Disc Replacement Industry
There are notable factors influencing the growth of the Artificial Disc Replacement industry and, in turn, shall affect the global market. Some of these factors include:
- Increasing prevalence of degenerative disc diseases: The Artificial Disc Replacement industry is primarily driven by the rising incidence of degenerative disc diseases, such as herniated discs, osteoarthritis, and spinal stenosis. According to the Global Burden of Disease Study (GBD) report, approximately 10-15% of the global population experiences lower back pain due to these conditions.
- Aging population and associated spinal disorders: The aging population is also a significant factor in the industry's growth. As people age, the risk of developing spinal disorders increases. According to the United Nations, the global population of individuals aged 60 years or above is expected to reach 2.1 billion by 2050, further driving the demand for Artificial Disc Replacements.
- Advancements in technology: Technological progress in the field of Artificial Disc Replacements, such as the development of next-generation materials (e.g., metal-on-metal, metal-on-polymer, or ceramic-on-ceramic), minimally invasive surgical techniques, and computer-assisted navigation, have tremendously improved the success rates and efficacy of these devices. These advancements have attracted both patients and healthcare providers to this treatment option.
- Growing preference for motion preservation over fusion surgeries: Spinal fusion surgeries were traditionally performed to treat degenerative disc diseases. However, these surgeries restrict the natural movement of the spine, leading to increased stress on adjacent discs and potential long-term complications. As a result, there is a growing preference for motion-preserving treatments like Artificial Disc Replacements, as they allow for restoring normal spinal movement and conceivably reduce the risk of adjacent segment degeneration.
Top Trends in the Global Artificial Disc Replacement Market
The global Artificial Disc Replacement market is witnessing several key trends, including a rise in minimally invasive surgeries and increased adoption of synthetic disc replacement procedures. Advancements in implant materials and designs also contribute to market growth, along with the growing prevalence of degenerative disc diseases and favorable reimbursement policies. For example, according to an article published by the NCBI in March 2021, the prevalence rate of diagnosed spine degenerative disease was determined to be 27.3% in the United States. Furthermore, the market is expected to expand in emerging economies due to technological advancements and the development of next-generation Artificial Disc Replacement devices.
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/artificial-disc-replacement-market-2281/0
Recent Development of the Global Artificial Disc Replacement Market
- In September 2022, NuVasive, Inc. introduced Reline Cervical, a new posterior cervical fusion (PCF) fixation system. This product aims to offer a less invasive spinal disc replacement procedure. The launch of Reline Cervical is part of an integrated solution that aims to provide compatibility and a comprehensive solution for patients. NuVasive, Inc. hopes to strengthen its position in the competitive artificial disc market by offering this innovative product.
- In July 2022, Medtronic recently received approval from the U.S. FDA for its UNiD Spine Analyzer. This advanced algorithm utilizes machine learning and Artificial Disc Replacement data to assist surgeons in planning lower lumbar spinal replacements and designing compensative mechanisms after six months of surgery. This development provides Medtronic with a notable competitive edge in the market as it allows for highly customized patient procedures.
Market Drivers
The broader acceptance of surgical treatments, less tissue disruption, and patient trauma are expected to boost the market's growth. Furthermore, market players anticipate a more comprehensive merging of vendors in the spine segment, which is also likely to provide opportunities in the market. The rising number of technological advancements further complements this.
Market players' increasing number of clinical trials related to artificial discs also support the market growth. For instance, Medtronic is sponsoring a clinical practice related to the Prestige LP Cervical Disc for treating cervical degenerative disc disease, radiculopathy, and myelopathy. Such activities provide various opportunities for the market to grow further.
Market Restraints
The high cost of Artificial Disc Replacement surgery is a significant obstacle in the market. Research published in the Spine Journal indicates that the average price for this procedure in the U.S. is approximately USD 49,000. As a result, the expense becomes unaffordable for many patients, severely restricting its adoption and impeding market expansion. Moreover, numerous insurance companies do not cover Artificial Disc Replacement surgery, limiting its accessibility to patients.
Market Opportunities
The Artificial Disc Replacement market is witnessing significant growth as companies develop innovative products to replace traditional spinal fusion surgeries. Factors such as rising cases of chronic back pain, increasing demand for minimally invasive procedures, and technological advancements drive this growth. A finding published by the NCBI in March 2021 revealed a 27.3% prevalence rate of diagnosed spine degenerative disease in the United States. Technological advancements and FDA approvals for Artificial Disc Replacement devices also expand this market.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Artificial Disc Replacement Market Forecast Report (2023-2030).
Report Segmentation of the Global Artificial Disc Replacement Market
Material Type Analysis
The Metal & Plastic category dominated the market with the largest share because of higher operational success rates and the benefits of medical plastic and metal hybrid surfaces over traditional metal-on-metal. The global Artificial Disc Replacement market is based on material types segmented into metal and metal + plastic. For Example, an article published by The Spine Journal reported a high success rate in metal over plastic (MOP) artificial discs in healthcare seekers without developing adjacent segment disease (ASD), a condition prevalent in patients after surgery after implanting traditional discs. Additionally, the Metal segment is expected to grow during the forecast period owing to rising research applications in the area of orthopedics along with minimum wear and tear advantages of metal-on-metal discs post-surgery.
Indication Analysis
Cervical Disc Replacement dominated the most significant share due to the rising number of disc degeneration cases in the cervical discs compared to the lumbar discs. The global Artificial Disc Replacement market is based on indication analysis segmented into cervical and lumbar disc replacement. Factors such as the increasing prevalence of spinal diseases, the growing geriatric population, and initiatives by market players are expected to increase the adoption of cervical artificial discs, thus leading to segment growth. Furthermore, the high number of synthetic cervical disc replacement products is also expected to boost the segment growth.
Global Artificial Disc Replacement Market Segmentation
By Material Type
- Metal
- Metal & Plastic
By Indication
- Cervical Disc Replacement
- Lumbar Disc Replacement
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/artificial-disc-replacement-market-2281
Scope of the Report:
Report Attributes | Details |
Market Size in 2022 | USD 0.6 Billion |
Revenue Forecast by 2030 | USD 1.3 Billion |
CAGR | 12.3% from 2023 to 2030 |
Base Year | 2022 |
Forecast Year | 2023 to 2030 |
Key Players | Medtronic PLC, Orthofix Medical Inc., Globus Medical, Aesculap Inc., NuVasive Inc., AxioMed LLC, Zimmer Biomet, SpineArt SA, Synergy Spine Solutions Inc., Centinel Spine |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/artificial-disc-replacement-market-2281/customization-request |
Regional Analysis
Due to the growing geriatric population, higher success rate of Artificial Disc Replacements, and the increasing number of people suffering from lower back problems and spine-related disorders, North America held the dominance of the global market share for multiple sclerosis therapeutics, with a market share of 42.90% in 2022. For Example, according to an article published by the NCBI in March 2021, the prevalence rate of diagnosed spine degenerative disease was determined to be 27.3% in the United States. Additionally, North America has advanced healthcare infrastructure and a favorable reimbursement scenario, making it easier for patients to access this treatment option.
The Asia Pacific market is remunerative due to several possible areas for future enlargement. This can be attributed to several factors, including the increasing prevalence of degenerative disc diseases and rising healthcare expenditure in emerging economies like China and India. Moreover, advancements in technology and increasing awareness about the benefits of Artificial Disc Replacement procedures contribute to the industry's growth in this region.
Browse More Reports from Vantage Library:
Artificial Intelligence In Diagnostics Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/artificial-intelligence-in-diagnostics-market-2253
Artificial Intelligence (ai) In Drug Discovery Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/artificial-intelligence-ai-in-drug-discovery-market-2220
Transcatheter Aortic Valve Replacement Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/transcatheter-aortic-valve-replacement-market-2105
Artificial Intelligence In Genomics Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/artificial-intelligence-in-genomics-market-2252
Lipid Nanodiscs Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/lipid-nanodiscs-market-2003
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
![](https://ml.globenewswire.com/media/OTUxZTZmYzQtOTg3Yy00Yjg3LTg5M2UtMWMxOWEyNzAzODYxLTEyMzU1ODk=/tiny/Vantage-Market-Research.png)