Slip Disc Market Detail Analysis | Focusing on Major Vendors as Captiva Spine, DePuy Synthes Companies, GlaxoSmithKline plc, Globus Medical, etc
Global Slip Disc Market: Overview
The global market for slip disc is expected to grow at a CAGR of approximately 5.4% during the forecast period 2017-2023. This is due to growing cases of spinal injuries. The market is forecasted to demonstrate a steady growth by 2023, surpassing its previous growth records in terms of value with a constant CAGR during the anticipated period (2017 – 2023).
A herniated disc is a condition that occurs when a soft cushion of tissue between the bones in spine pushes out and is painful when it presses on nerves. Patients with slipped disc have permanent and often devastating neurologic deficits and disability. Growing prevalence of obese population is one of the major factors driving the growth of the global slip disc market. As per National Center for Biotechnology Information (NCBI), nearly 66% of the population with spinal cord injuries are overweight or obese. Obesity signifies a growing public health challenge, with an estimated prevalence of 34.9% of U.S. adults, or 78.6 million people.
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Slip Disc Market – Segments:
Global Slip Disc market has been segmented on the basis of type which comprises of thoracic herniated discs, lumbar herniated disc, and cervical herniated discs.
On the basis of diagnosis, it is segmented into physical examination, nerve conduction test, and imaging tests.
On the basis of treatment, this market is segmented into medications, therapy, and surgery.
Slip Disc Market – Top Players:
Captiva Spine, Inc. (US), DePuy Synthes Companies (US), GlaxoSmithKline plc (UK), Globus Medical, Inc. (US), NuVasive, Inc. (US), Pfizer Inc. (US), and TEVA Pharmaceutical LTD (Israel), etc.
Regional analysis of Slip Disc Market:
Considering the global scenario of the market, the Americas hold the largest share in the global slip disc market. In the American market North America is one of the leading markets which is expected to reach 4,542.8 million in 2023. Some other factors such as increasing cases of spinal injuries plays an important role in market growth. Latin America market is also growing significantly, lumbar herniated disc market is expected to hold the largest market share in this market.
Due Increasing funding for research and new product development, European region is also expected to grow significantly during the forecast period. Europe is the second largest market and holding around 31.0% market share in global slip disc market. Availability of advanced diagnostic and treatment facilities, skilled medical professionals, high healthcare expenditure and adoption of new therapies are driving the growth for this market.
The prevalence of slip disc in Asia Pacific region is key factor for the market growth. Rising awareness about the slip disc and related cure is playing important role in the growth of the market. Growing number of patients suffering from back pain either severe or mild is leading the market growth. China is holding the largest share in this market. Asia Pacific slip disc market is expected to grow at a CAGR of 6.0% during the forecast period of 2017-2023.
Middle East & Africa is expected to have the least growth in this market due to some major factors such as lack of awareness about the slip disc, limited access and availability of diagnostic and treatment facilities, low income etc. Middle East holds 70.9% market share in the Middle East & Africa slip disc market.
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