Artificial Disc Replacement Market Overview
Artificial disc technology is designed to replace degenerated or injured discs with a prosthesis that allows for normal physiologic movement of the spine. Artificial disc replacement surgery might be performed on the lower back (lumbar spine) or the neck (cervical spine). Artificial disc are outlined with the objective of emulating the structure and capacity of the spine's natural discs. Cervical total disc replacement (CTDR) device is used to treat patients suffering from degenerative disc disorders (DDD). Neck pain is the major cause for development of DDD in cervical region of the spine. Cervical disc replacement surgeries are performed for treatment of DDD, where the degenerated disc is removed surgically and an artificial disc is implanted in the vertebra.
On the other hand, the high prevalence of unmet needs pose as a challenge to the market growth of global Artificial Disc Replacement market. Although there have been no studies to examine the long-term effectiveness of these products, short-term and intermediate results have been generally favorable.
According to statics, 391,050 spinal fusions are performed every year in the United States alone. And this number is expected to increase by about 25% in the recent future. According to a recent study report published by the Market Research Future, the global market for Artificial Disc Replacement is estimated to witness a steady growth by 2027, in terms of value with a substantial CAGR; surpassing its previous growth records by the end of the forecasted period (2016 – 2027).
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Artificial Disc Replacement Market Segments
Artificial Disc Replacement market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation By Types : Comprises total disc replacement, disc nucleus replacement and others.
- Segmentation By Material : Comprises biopolymer, metal, and others
- Segmentation By End User: Comprises hospitals, research centers, clinics and others
- Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Artificial Disc Replacement Market Regional Analysis
Globally North America is the largest market for Artificial Disc Replacement. The North American market for Artificial Disc Replacement is expected to grow at a substantial CAGR and is expected to grow further its previous growth records by the end of the forecasted period. This is due to increasing developing technology in the healthcare sector. Europe is the second-largest market for Artificial Disc Replacement which is expected to grow at a considerable CAGR. Whereas Asia pacific is expected to be a growing market for Artificial Disc Replacement and expected to grow at a rapid rate.
Artificial Disc Replacement devices are expected to thrive in both the US and India over the forecast. Improved reimbursement coverage and the FDA’s approval of a double level disc replacement indication will drive the growth in the US and In India, leading the C-TDR device manufacturers to enter the market with positive adoption from the region’s surgeons. In Europe and the remaining developing economies, growth for these devices will remain stagnant. European surgeons currently see these devices as expensive alternatives to ACDF procedures that provide only comparable patient outcomes.
Artificial Disc Replacement Market Players
Artificial Disc Replacement market is no exception when it comes to adopting prevailing trends, to sustain the market position and to drive the market; Key Players of the market adopt the same prevailing trends such as merger acquisition or strategic collaboration and investing in local manufacturers in emerging economies for product developments and manufacturing activities. Artificial Disc Replacement Market demonstrates potential for huge growth opportunities which is attracting several new comers to enter in the market resulting in to a fierce competition.
Some of the key players in this market are: Alphatec Spine, Inc. (US), De Puy Spine, Inc. (US), Medtronic (Republic of Ireland), Zimmer Biomet (US), Stryker (US), Smith Nephew Plc. (UK) among others are some key companies in the global Artificial Disc Replacement that are listed by MRFR for market research.
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