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Artificial Disc Replacement Market Recent Study Including Growth Factors CAGR of 19.6% by 2023 Applications, Regional Analysis, Key Players

01-14-2022 04:30 PM CET | Health & Medicine

Press release from: Market Research Future (MRFR)

Artificial Disc Replacement Market Recent Study Including

Artificial disc replacement is the method used to treat back pain. It is also known as total disc replacement in which there is a replacement of degenerated intervertebral disc in spine column. This treatment is used to treat chronic and severe back pain and cervical pain. The major driving factors for global artificial disc replacement market are growing prevalence of degenerative spine condition because of increasing aging population across the globe, preference for minimal surgical procedure and many advantages over traditional spine fusion procedure. High cost of devices and lack of uniform reimbursement are major restraining factors for the market growth.

Global artificial disc market is expected to grow during the forecast period (2018–2023) at a CAGR of ~19.6%. On regional basis, global artificial disc replacement market is segmented into North America, Europe, Asia Pacific and Middle East and Africa. North America has a leading market for artificial disc replacement. Due to increasing aging population, increasing healthcare expenditure and higher success rate of artificial disc replacements has boosted the artificial disc replacements market in North America. Europe has the second largest market for artificial disc replacements. Germany, UK and franc are the major contributor of the market. Favorable reimbursement policy structure, well-developed healthcare infrastructure and increasing healthcare expenditure are the driving factor for the market growth. While Asia Pacific is the fastest growing region for the growth of the market. A huge population base and rapid development in Asia Pacific region has provided fuel for the growth of the market.

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Segmentation:

Global artificial disc replacement market is segmented on the basis of type into cervical disc replacement, lumber disc replacement and other. Lumber disc replacement the most popular treatment option among the people suffering from back pain. On the basis of material they are segmented as metal and biopolymer

Competitive Analysis

Some of the major players in the global artificial disc replacement market are Alphatec Spine Inc. (US), Medtronic Inc. (UK), De Puy Spine (US), Stryker Corporation (US), Smith & Nephew Plc (UK), Orthovita Inc. (US), Globus Medical (US), Zimmer Spine Inc (US), Aesculap Implant Systems (US), NuVasive (US), Zimmer-Biomet (US) and many more

Due to increasing aging population across the globe many of the companies are in the race to introduce better option of artificial disc replacement for patient suffering from back pain. Companies are using a trend of strategic alliance and acquisition to gain the market and minimize the competition in the market.

Alphatec Spine, Inc., an US headquartered medical technology company which develop and launch promotes spinal fusion products. They has introduced DISCOCERV a cervical disc prosthesis to preserve the physiological mobility of the cervical spine.

Medtronic Inc. is a medical device company headquartered Ireland. They has introduced Prestige LP and Bryan cervical disc used to maintain the distance between two adjacent cervical vertebrae.

Globus Medical, a US headquartered medical device company focus on development and design of musculoskeletal implants that promote healing in patients with spine disorders. They has introduced SECURE-C for treatment of an anterior cervical discectomy.

Stryker Corporation is a Fortune 500 medical technologies based in US. They has introduced OASYS, Reflex, Escalate and Aviator for the treatment of spine damage.

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