Artificial Disc Replacement Market Share

Global Artificial Disc Replacement Market Overview

Artificial Disc Replacement Market Size was valued at USD 1.68 Billion in 2023. The Global Artificial Disc Replacement industry is projected to grow from USD 1.90 Billion in 2024 to USD 4.78 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.78% during the forecast period (2024 - 2032).

Accordingly, this treatment is necessary to treat back pain through a medical procedure. Therefore, the degeneration of the intervertebral discs has been replaced by artificial discs for relieving the pain. Apart from that, artificial disc replacement helps in reducing back pain as well as the maintenance of spinal mobility is practiced. Thus, these factors attempt to propel the market growth and have been considered as the basic medical procedure for the treatment of back pain.

Further, to this context, it has been obtained that an increase in the demand of spending on research and development has maintained spine mobility with aggressive strategies for the betterment of back pain issues. For instance, it has been noticed that Zimmer Biomet has explained to make the cost-effective up to USD 1 billion by the forecast period. However, the rise in the cost of disc replacement surgeries has been observed and it attempts to include the technical challenges faced by surgeons during the replacement surgeries. Hence, this affects or rather hamper the growth of the artificial disc replacement market during the mentioned assessment period.

In January 2023, Zimmer Biomet revealed the launching of their artificial disc called Mobi-C for the cervical spine. The design of Mobi-C is based on its ability to move like the human spine.

In February 2023, NuVasive was given approval by the FDA for FlexiCore artificial disc used in the lumbar region. It is a non-metallic disc, which is designed to have more natural sense and movement compared to metal discs.

In March 2023, Medtronics FDA approved Medtronic’s Pro Disc-L artificial disc implantation for the lower back. Pain reduction and restoration of spinal functions are some of the benefits that can be derived from using ProDisc-L.

Come April 2023, Alphatec Spine launched its artificial disc, dubbed Mobi-S, meant for patients suffering from issues related to lower back pain, among other conditions. Components such as mobile-bearing with respect to this type provide greater similarity with real discs instead of others created from metals.

In November 2022, Centinel Spine, LLC announced successful implantation of its pro disc C SK. This device acts as artificial cervical vertebrae.

By October 2022, Orthofix and SeaSpine had agreed upon a merger agreement that would fuse both companies together, hence become one leading firm in orthopedics implanting spines.

NuVasive Inc., for instance, obtained regulatory clearance in July 2022 from US Food and Drug Administration (FDA) Show More For Simplify Cervical Artificial Disc (Simplify Disc) used in two-level surgeries on patients’ necks suffering from damaged disks.

To illustrate this point further, an advanced endoscopic spine center dealing with all types of spinal disorders that necessitate surgery in Chennai, India, was started by Gleneagles Global Health City in March 2021. These will include problems such as lower back pain, facet joint pain, sciatic pain and neck pains radiating to the hands. Therefore, the above-mentioned factors, like initiatives taken by key market players, the high prevalence of disc abnormalities, the rising burden of degenerative spine conditions and the growing geriatric population, are anticipated to boost the market growth.

Orthofix Medical Inc., on the other hand, has entered into a partnership agreement with Neo Medical SA, a privately owned Swiss medical device company, to research and develop new products that can be used for spinal surgical purposes.

The sudden outbreak of the covid 19 situation has worsened the market growth in every possible way. Thus, it has been managed to mention that WHO’s statement has been considered to be official and has been addressed as the basic situational analysis. Apart from that, this particular market has observed that the pandemic situation has changed the artificial disc replacement market dynamics, observed requirements, and trends. This has been idealized as the changed situation after the covid situation and lockdown crisis. Moreover, the financial background of the mentioned artificial disc market has a huge negative impact during the lockdown days. Further, it has managed to anticipate the market effect as well as the regaining of the harmful situation after the lockdown days in the coming period.

Artificial Disc Replacement Market Dynamics

• Opportunities

In this concise market of opportunities, it has been addressed that the increase in the spending on research and development has been addressed and it stares to be considered as an aggressive strategy. Apart from that, within this stated market, the opportunity of acquiring by the top market players for enhancing the growth of the market has been idealized as well. Therefore, the devices have been referred to as the basic structure that provides an ailment to the body of a human for better analysis. Hence, the implant of the device and the aid of retaining addresses to be flexible and its movement has been rapid growth with the artificial disc replacement market.

• Cumulative Analysis

The Compound Annual Growth Rate (CAGR) is predicted to grow at 10.78%. Accordingly, the market growth has expanded within the forecast period of 2024-2032. Various drivers such as the growing awareness of the treatment and the medical devices for ailing the chronic diseases. This has helped in the rising industrialization of the world. 

• Value Chain Analysis

An increasing emphasis on using the artificial discs for the rise in the market will impact the market positively. Also, the growing initiatives by the government for the development and research will improve the value chain of the Artificial disc replacement Marketin the upcoming years.

Artificial Disc Replacement Market Segmentation

According to themarket segmentation, the artificial disc market has been segmented based o the type, material, and location.

It clearly states that based on type, this particular market has been segmented under the composite classification of the disc, mechanical disc, and many more. Further, the mechanical disc has been divided into the Cineflex disc, maverick disc, and the flex core disc as well. On the other hand, the location segmentation clearly states the importance of cervical disc replacement, lumbar disc replacement as well.

Based on the material, the market has been segmented under biopolymer, metal, and mixed for better growth in the future.

Artificial Disc Replacement Market Regional Analysis

In this particular analysis, the regional analysis of the market has been segmented under the different regions. America has been likely to dominate the market of artificial disc globally. Further, the artificial disc replacement market has been owned to the well-established market and it signifies to be in the healthcare sector, orthopaedic surgeries, and the adoption of the market. Therefore, the replacement of the procedures and the inclusion of the two-level disc replacements. Apart from that, the European market is expected to be the second-largest disc replacement after the Americas. The factors such as propelling the regional growth of the market tend to increase the expenditure on healthcare, an increase in the geriatric population within this region. The favourable government and the regulatory policies have been increasing as well. Hence, the device has been used in treating the cervical disc with the two adjacent levels in between the C3-C7 with basic segments.

On the other hand, Asia-Pacific has expected to make the growth as the fastest growing artificial disc replacement and it attempts to level the artificial disc replacement market during the forecast period. The rise in the utility of the minimally invasive method and includes two of the degenerative disorders. Therefore, the government initiatives and the quality of the healthcare services. These accounts are to be available at affordable prices. According to the study conducted by the NCBI, the disc degenerative disorder has been commonly found in the sector, the poor economic condition has been based upon technical knowledge and it appears to be lacking in nature.

Artificial Disc Replacement Market Competitive Landscape

The Artificial Disc Replacement market comprises moderate competition and it initiates the importance of the several major players that competes with the market. Hence, some of the major key players are:

Artificial Disc Replacement Market Report Overview

This report mainly includes all the details and it tends to initialize growth along with the better efficiency of the companies with particular management. It states that the driving factors have been interrupted due to the covid 19 situation. The entire analysis is based upon the Covid 19 analysis, regional analysis, market overview, segmentation analysis, market dynamics and it mainly includes the challenges, opportunities, restraints, and drivers. Further, the competitive landscape and the other sections are been presented. Hence, all of the information, that has been collected is from the primary as well as the secondary sources.

By Geographically

Artificial Disc Replacement Market Segmentation

Artificial Disc Replacement Type Outlook

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  North America
  
  


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  Europe
  
  


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  Asia- Pacific
  
  


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  Middle-East