Press release
$4.5 bn Artificial Disc Industry- Global Outlook & Forecasts (2018 – 2024): notable industry players|DePuy Synthes Companies, Globus Medical,Medtronic, NuVasive
Artificial Disc Market
Growing demand for minimally invasive procedures coupled with technological advancement in artificial discs will foster the industry growth. For instance, two-level Mobi-C disc, launched by Zimmer Biomet, is a two level artificial disc that offers better efficiency as compared to two level fusion procedure. Huge investment of industry players in the development of novel products will further spur the artificial disc market.
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Growing elderly patient population worldwide will serve to be another positive impact rendering factor in the market growth. Ageing population prone to various musculoskeletal diseases such as osteoarthritis will fuel the artificial disc market growth during the forthcoming years.
Furthermore, development in artificial discs to offer superior functionality and efficiency as compared to spinal fusion procedures will increase the demand for such discs. However, high cost of artificial discs coupled with lack of reimbursement may restrain its adoption, especially in the developing and under-developed economies.
Notable industry players:
• DePuy Synthes
• Globus Medical
• K2M
• Medtronic
• NuVasive
• Orthofix International
• Paradigm Spine
• Simplify Medical
• Spineart SA
• Stryker
• Synergy Disc Replacement
• and Zimmer Biomet Holdings
Metal-on-biopolymer segment accounted for more than USD 1 billion in 2017 and will witness significant growth during the forecast period. Metal-on-biopolymer discs offer high degree of rotation, flexible spine movement as well as easy insertion process. These discs facilitate both independent and coupled motions, similar to the natural cervical spine motion, leading to increased biocompatibility, thereby augmenting segment growth.
Cervical artificial disc segment held the largest market share in 2017 and is expected to show lucrative CAGR of 22.3% over the analysis period. Rising incidence of cervical degenerative disc diseases across the globe will serve to be the key factor driving the segment growth. Benefits offered by cervical artificial discs over fusion procedures such as significant decrease in neck pain as well as lower re-operation rates will further increase the adoption of cervical artificial discs.
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Chapter 4. Artificial Disc Market, By Material
4.1. Key segment trends
4.2. Metal-on-metal
4.2.1. Market size by region, 2013 – 2024 (USD Million)
4.3. Metal-on-biopolymer
4.3.1. Market size by region, 2013 – 2024 (USD Million)
Chapter 5. Artificial Disc Market, By Type
5.1. Key segment trends
5.2. Cervical artificial disc
5.2.1. Market size, by region, 2013-2024 (USD Million)
5.3. Lumbar artificial disc
5.3.1. Market size, by region, 2013-2024 (USD Million)
North America artificial disc market dominated the overall market with around 52% market share in 2017 and is estimated to show similar trend during the forthcoming years. Prevalence of obesity related degenerative disease is high in the region owing to sedentary lifestyle, unhealthy dietary habits, and other environmental factors. Strong foothold of key industry players in the region leading to technological innovations will further foster the regional market growth.
Asia Pacific artificial disc market is estimated to witness robust CAGR of 24.0% over the forecast timeframe owing to the large patient pool present in the region. Rapidly ageing population suffering from various musculoskeletal diseases will fuel the demand for artificial discs in the region. Moreover, developments in healthcare infrastructure coupled with increasing healthcare affordability will spur the artificial disc market.
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Growth drivers !
• Product & technological innovation such as multi-level disc replacement
• Increasing incidences of degenerative disc diseases
• Long-term cost benefits for lower re-operation rate for disc replacement
• Rising propensity for minimal incision surgery
• Better clinical trial results with C-TDR compared to ACDF
Some of the prominent market players operating in artificial disc market include Some of the notable industry players operating in global artificial disc market include AxioMed, B. Braun Melsungen, DePuy Synthes, Globus Medical, K2M, Medtronic, NuVasive, Orthofix International, Paradigm Spine, Simplify Medical, Spineart SA, Stryker, Synergy Disc Replacement, and Zimmer Biomet Holdings. The companies majorly focus on innovative product launch as well as inorganic strategies including mergers, acquisitions and partnerships to strengthen their existing product portfolio and improve financial performance.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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