Global Sales Of Artificial Discs Are Expected To Rise Rapidly At A CAGR Of 20.6% From 2022 To2027

Posted on 2022-10-31 by Fact.MR in Healthcare // 0 Comments

The global artificial discs market is currently valued at US$ 905 million and is expected to skyrocket at a CAGR of 20.6% to reach a valuation of US$ 2.3 billion by the year 2027.Demand for cervical disc replacement is expected to increase significantly at a CAGR of around 21% from 2022 to 2027, attributed to the rise in cervical disc surgeries being carried out across the world.

A disc is a soft, cartilage-like tissue-based cushioning structure that is located between the various spine bones. A material implanted into the spine to mimic the functions of a normal disc is called an artificial disc, spine arthroplasty device, or disc prosthesis. These compressible discs, which are mainly constructed of metal, biopolymer, plastic, or a combination of the two, help to maintain flexibility and range of motion.

An astounding advancement in spine surgery is artificial disc replacement (ADR) :

In 1982, Germany developed Charite, the first disc implant utilized in total disc replacement. Fernstrom also developed the first cervical artificial disc prototype, which was implanted in 1966.

Cervical arthroplasty took a long time to reach clinical use due to size restrictions, proximity to the spinal cord, and the intervertebral disc’s functional intricacy. In the 1990s, interest in cervical disc arthroplasty increased.

For more insights into the Market, Request a Sample of this Report –https://www.factmr.com/connectus/sample?flag=S&rep_id=7760

Which Key Dynamics are Supporting Sales Growth of the Artificial Discs Market?

“Age-related Orthopedic Disorders Driving Demand for Artificial Discs Replacement Surgeries”

The market for artificial disc replacement is anticipated to expand significantly over the projected period as a result of the increasing older patient population suffering from orthopedic issues. (LBP) low back pain is one of the most prevalent illnesses among the elderly.

The prevalence of LBP is rising, which is driving up demand for artificial disc replacement surgeries in the lower back. Artificial spine discs market expansion will be fueled in the coming years by the growing use of artificial discs in patients with discogenic pain and degenerating lumbar spines. Thus, the demand for artificial disc replacement procedures is increasing.

“Rising Demand for Minimally-invasive Procedures”

One of the main elements propelling the demand for artificial disc replacement is the increase in outpatient procedures. In the coming years, prospects for rapid development in the artificial disc replacement market are anticipated to arise from the major shift from inpatient to outpatient spine procedures.

The public’s growing awareness of technologically advanced spinal discs and the escalating demand for minimally surgical treatments are two significant factors that will fuel the growth of the artificial disc replacement industry. Utilizing cutting-edge technologies such as the Mobi-C multi-level prosthetic disc will be advocated for patients who have complications at two successive spinal discs.

Why is the U.S. a Profitable Market for Artificial Disc Manufacturers?

“Rising Prevalence of Spine Degeneration Disorders Driving Sales of Artificial Discs”

More than 450,000 Americans are living with a spinal cord injury, according to information provided by the American Association of Neurological Surgeons in their June 2021 report.
According to a March 2021 publication by the National Center for Biotechnology Information titled “Prevalence of Spine Degeneration Diagnosis by Type, Age, Gender, and Obesity Using Medicare Data,” the prevalence rate of diagnosed spine degenerative disease was found to be 27.3%.

Additionally, the market in the United States will be driven by the companies’ organic and inorganic strategies, such as mergers and acquisitions.

Consider the acquisition of Simplify Medical by NuVasive Inc. in February 2021. Simplify Medical creates the Simplify Cervical Artificial Disc for cervical complete disc replacement (cTDR).
By offering inclusive, procedurally integrated treatments for anterior cervical discectomy and fusion, posterior cervical fusion, and cTDR operations, NuVasive will be better able to address all important areas of the cervical spine.

Therefore, the aforementioned factors are anticipated to stimulate market expansion, in the coming years.

Speak To Research Analyst For Detailed Insights: https://www.factmr.com/connectus/sample?flag=AE&rep_id=7760

Competitive Landscape

The presence of several key players in the artificial disc replacement market is moderately competitive. The market is in a boom period, as major firms are concentrating on mergers and acquisitions. Companies are making strategic decisions on both organic and inorganic expansion to broaden their product offerings and increase their market share.

In Chennai, Gleneagles Global Health City opened a sophisticated endoscopic spine facility in March 2021 to cure spinal conditions that call for surgeries. These conditions include neck and back pain that radiates to the hands, facet joint pain, sciatica, and lower back pain.

In September 2020, Orthofix Medical, Inc. teamed up with Neo Medical SA, a privately held medical device firm with headquarters in Switzerland, to create cutting-edge devices for spinal surgeries.

Key Segments in Artificial Discs Industry Research

By Material :

Metal & Plastic
Metal

By Indication :

Cervical Disc Replacement
Lumbar Disc Replacement

By End User :

Hospitals
Ambulatory Surgical Centers
Others

By Region :

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

Interested to Procure The Data? Inquire here at –https://www.factmr.com/checkout/7760

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Which Key Dynamics are Supporting Sales Growth of the Artificial Discs Market?

Why is the U.S. a Profitable Market for Artificial Disc Manufacturers?

Competitive Landscape

Key Segments in Artificial Discs Industry Research

Matched content

Editor’s pick