Artificial Disc Replacement Market is Presumed to Register a Systematic CAGR of 19.6% During Forecast to 2023

 

Overview:

The artificial disc replacement market is gaining prominence owing to the groundbreaking advancements the surgery is making in treating back pain. Artificial disc replacement surgery focuses on replacing the worn-out tissues of the spine to reduce back pain and enhance mobility. Spinal discs mainly provide cushioning to the vertebrae located between bones which if, worn out can deter mobility.

Despite such benefits, the artificial disc replacement market can find the related cost as a major irritant. The increased price is an effect of the rising cost of the artificial discs which can slow down the market growth over the review period. The replacement surgery is a result of great technological advancement in the healthcare sector. It has the edge over the spinal fusion surgery. Spinal fusion surgery allows less flexibility owing to which, patients preferring artificial disc replacement surgery are growing in numbers.

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The global Artificial Disc Replacement Report  is expecting a stellar growth by 19.6% CAGR during the forecast period (2018-2023). In an extensive report Market Research Future (MRFR) reveals the information, along with detailed analysis of the segments and driving factors that can impact the market growth in the coming years. Technological advancements in the field have increased its credibility, and it gets reflected in patient approval. At the same time, a surge in the patient pool with accidental injuries and age-related complexities can be seen as the driving force for the market. In technologically advanced countries, increasing expenditure in research and development segment is also providing the impetus.

Competitive Analysis:

Prominent players in the artificial disc replacement market are Medtronic, Globus Medical Inc., DePuy Spine, Zimmer Biomet, Stryker, Joimax GmbH, Smith & Nephew Plc, Alphatec Spine Inc., Aesculap Implant Systems, LLC, AxioMed LLC, NuVasive, Inc., Orthofix Inc.,and K2M Inc.

In 2018, Adena launched their Mobi-C artificial disc replacement procedure. Mobi-C is the first-of-its-kind cervical disc prosthesis that has received approval from the FDA for both one and two-level indications.

In August 2018, DePuy Synthes introduced CONCORDE LIFT Interbody Implant with a focus to relieve patients of the pain caused by degenerative disc disorders. The device fits specifically to a patient’s body enhancing the level of comfort.

Market Segmentation:

The Artificial Disc Replacement Market Share  has been segmentedby disc type, location, and material.

Based on disc type, the artificial disc replacement market can be segmented into elastic discs, composite discs, mechanical discs,and others. The mechanical discs segment includeskineflex discs, maverick discs, and flex-core discs.

By location, the artificial disc replacement market comprises cervical disc replacement and lumbar disc replacement.

Based on the material, the artificial disc replacement market includes metal, biopolymer, mixed and others.

Regional Analysis:

For a comprehensive reading of the artificial disc replacement market, region-specific segmentation is vital. The market includes namely the Americas, Europe, AsiaPacific (APAC), and the Middle East & Africa (MEA).

The market is getting driven by the profits made by the Americas. It can be attributed to a well-structured healthcare system that supports the regional market with increasing orthopedic surgeries, technological superiority, and favorable reimbursement policies. The regional market is further impacting the global one with considerable progress made through research and development.

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Europe’s market closely follows the features of the Americas’ market. Hence, considerable profit and the second leading position. The market is getting substantial thrust from the approvals made by governments. The APAC market is the fastest-growing market. Government initiatives to bring down the price of the components to increase the availability of the surgery is giving the market unprecedented incentives. However, the MEA market is making a small contribution. Presence of the poor economies in the region is affecting the market growth. But the regional market is trying to bounce back by introducing various policies regarding healthcare.

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