Slip Disc Market Size

Slip Disc Market Growth Projections and Opportunities

A slipped disc, medically known as a herniated disc, is a condition where the soft cushion of tissue between the bones in the spine protrudes out, causing pain when it presses on nerves. The symptoms associated with a slipped disc encompass pain, numbness, and loss of motor control. The direction of herniation—whether central, sideways, or centro-lateral—depends on the disc's location. Factors such as weak muscles and a sedentary lifestyle can contribute to the development of a slipped disc.

The market for slipped disc treatment is experiencing significant growth, driven by an increase in spinal injuries, greater awareness of non-fusion procedures for the spine, and changes in lifestyles. Additionally, the growing elderly population, augmented government support, and a rise in healthcare expenditure contribute to the market's expansion. However, obstacles such as the pain associated with treatment and its cost may impede this growth.

Data from the Agency for Healthcare Research and Quality of the U.S. Department of Health & Human Services reveals that 23% of low back pain affects individuals over 65 years of age. A noteworthy advancement in the field is minimally invasive spine surgery, which reduces hospital stays and postoperative pain due to its less traumatic nature. Over the past few years, several new options for the diagnosis and treatment of slipped discs have emerged. Diagnostic tools include physical examinations, nerve conduction tests, and various imaging tests. Treatment methods encompass medications, therapy, and surgery.

As of 2016, the global slipped disc market was valued at US$ 7,612.8 million, and it is anticipated to reach almost US$ 11,011.3 million by the conclusion of 2023, exhibiting a Compound Annual Growth Rate (CAGR) of 5.4% during 2017 to 2023.

The market is categorized by types, including thoracic herniated discs, lumbar herniated discs, and cervical herniated discs. The lumbar herniated disc segment is poised to dominate the market, capturing a market share of 45.8%. This segment is projected to achieve a value of US$ 5,193.4 million by the close of 2023, growing at a CAGR of 5.9% throughout the forecast period from 2017 to 2023. Moreover, the cervical herniated disc market is anticipated to witness the fastest growth, with an expected CAGR of 5.7% during the same forecast period. Starting at US$ 2,863.7 million in 2016, this market is predicted to reach US$ 4,222.2 million by the end of 2023.

In conclusion, the slipped disc market is undergoing substantial expansion, fueled by various factors, including demographic shifts, technological advancements, and increased awareness. Despite challenges such as treatment costs and pain, the market is projected to maintain a positive growth trajectory in the coming years.