Universal Growing $4.8 Bn Artificial Disc Market | Stryker Corporation, Zimmer Biomet Holdings, Medtronic, LDR Holding Corporation, Aesculap Implant Systems, Globus Medical, DePuy Synthes Spine, NuVasive
Artificial discs are synthetic replacements for damaged intervertebral discs present in the cervical or lumbar regions of the spine. In artificial disc replacement surgery, a painful disc is replaced with an artificial disc. Cervical spine disorders are illnesses resulting from the damage/breakdown of the normal architecture of the cervical spine. The major causes for cervical spine disorders are obesity, genetic factors, and smoking. Lumbar degenerative disc disorder is a disease of lumbar spine or lower back. The major causes of lumbar degenerative disc disease are micro-motion instability and inflammation.
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Artificial disc market is dominated by key players such as Stryker Corporation, Zimmer Biomet Holdings, Inc., Medtronic, LDR Holding Corporation, Aesculap Implant Systems, LLC, Globus Medical, Inc., DePuy Synthes Spine, Inc., NuVasive, Inc. Product development and strategic acquisition are the strategies adopted by these players to increase their share and sustain their positions in the global market.
Product Outlook and Trend Analysis:
Cervical artificial disc segment accounted for the highest share of the global market in 2016, due to availability of large number of products for the treatment of cervical disorders and rise in number of surgeries related to cervical artificial discs. Lumbar disc replacement is the most common non-surgical treatment alternative for the people suffering from severe back pain as it helps to gain normal motion with substantial progress in back pain.
Material Outlook and Trend Analysis:
Metal on biopolymer segment occupied largest share of the overall market in 2015, due to increased acceptance among healthcare professionals and enhanced biocompatibility. Metal on metal segment is expected to witness high growth rate primarily due to low cost in comparison with metal on biopolymer artificial disc. Additionally, a growing need for cost efficient products in developing nations is further contributing to the segment growth.
Artificial Disc Market Segmentation:
Artificial Disc Market, By Product:
Artificial Disc Market, By Material:
Metal on Biopolymer
Metal on Metal
The major expansion opportunities for the players in this market lie in the developing countries such as India and China, where there is increasing prevalence of degenerative disc diseases coupled with rapidly aging population, improving healthcare infrastructure, and rising disposable income.
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Artificial Disc Market, By Region:
North America - U.S, Canada, Mexico
Europe - Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Regional Outlook and Trend Analysis:
North America dominated the global market in 2016, followed by Europe and Asia-Pacific. This large share is attributed to developed healthcare infrastructure, supportive reimbursement policies, high disposable income, high success rate of artificial disc clinical trials, rising prevalence of degenerative disc diseases, and preference for non-invasive procedures. The United States is the major contributor to the North American artificial disc market and is projected to continue its lead during the forecast period.
Asia-Pacific is poised to grow at the highest CAGR over the forecast period, due to rapidly increasing geriatric population, rising disposable income and improving healthcare infrastructure. China is expected to grow at double digit CAGR from 2017 to 2025, due to huge patient population, growth in medical tourism, and advanced healthcare infrastructure. Japan artificial disc market held major share of the Asia-Pacific market, due to high adoption of advanced products.
Artificial Disc Market, ToC:
2. Executive Summary
3. Market Overview
4. Artificial Disc Market, By Product
5. Artificial Disc Market, By Material
6. Artificial Disc Market, By Region
7. Company Profiles
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Key Findings of the Research Study:
• Cervical disc segment held over two-third share of the global artificial disc market in 2016 and is expected to grow at a double digit growth rate over the forecast period as a result of rising incidence of cervical disc degenerative diseases.
• Metal on biopolymer segment held over three-fourth share of the artificial disc market in 2016, due to its increased acceptance among healthcare professionals.
• North America held more than half of the global artificial disc market in 2016, owing to the presence of advanced infrastructure and large number of disc replacement surgeries performed in the region due to presence of trained surgeons.
• Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to advances in healthcare infrastructure and rising incidence of degenerative disc diseases.
• UK held a little below one-fourth share of the European artificial disc market in 2016 and will grow at a double digit growth rate over the forecast period due to increasing geriatric population and state-of-the-art healthcare infrastructure.
TO BE CONTINUED…
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