12 Sep Growing Market Players In Artificial Spinal Disc Replacement Market
Precision Business Insights (PBI) in its report titled “Global Artificial Spinal Disc Replacement Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2017 and Forecast 2018-2027” assesses the market performance over 2018-2027. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
An artificial disc is a synthetic replacements for damaged intervertebral discs present in the lumbar and cervical areas of the spine. In artificial disc surgery, worn or damaged disc material between the small bones (vertebrae) in the spine is removed and replaced with a synthetic or “artificial” disc. The artificial discs are designed with the goal of resembling the form and function of the spine’s natural disc.
The artificial disc replacement market is expected to grow due to increase in the prevalence of osteoporosis in global geriatric population, increase incidences of degenerative diseases and increase in the demand for minimally invasive surgeries, and better clinical trial results will fuel the global artificial spinal disc market. Furthermore, increased in R&D activities for multi-level artificial disc will boost the artificial disc market. However, high procedure cost, stringent regulatory policies, expensive devices, and unfavorable reimbursement policies might hamper the growth of artificial spinal disc market.
The global artificial spinal disc market is categorized as follows-
- Product type
- Cervical disc
- Lumbar disc
- Material type
- Metal on metal
- Metal on the biopolymer
Hospitals, orthopedic clinics and ambulatory surgical centers
And lastly, on the basis of geographical regions, the global artificial disc replacement market have five major regions- North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America holds the largest share in the artificial spinal disc market owing to increase in disposable income and healthcare expenditure, technological developments in the disc replacement surgeries, and favorable reimbursement policies are factors propelling the artificial spinal disc replacement market. Europe accounts for a significant share in artificial disc market attributed to increase in geriatric population, development in healthcare infrastructure, and increase in disposable income in Europe countries. Asia Pacific cervical disc market expected to grow significantly due to rise in geriatric population majorly in India and China. Increase in the prevalence of degenerative diseases, development of healthcare infrastructure, and increase in medical tourism in Asia Pacific will fuel the artificial spinal disc replacement market. Some of the key players in the global artificial disc market are Medtronic (U.S.), Globus Medical Inc. (U.S.), Johnson and Johnson Services Inc.,(DePuy Synthes) (U.S.), NuVasive Inc. (U.S.), Zimmer-Biomet (U.S.), Stryker Corporation (U.S.), Aesculap Implant System, LLC (U.S.), Alphatec Spine Inc. (U.S.), Smith & Nephew (U.K.), Orthovita Inc. (U.S.), Synthes Holding AG (U.S.), LDS Spine (U.S.), and Spinal Kinetics Inc. (U.S.) to name a few. In 2016, Medtronic, Zimmer Biomet enters into 2-level cervical disc and robotic surgery markets. And in 2015, Aesculap received U.S. FDA approval for the activL artificial disc for one level lumbar use.
The global cervical artificial disc market is in developing stage. Launch of new products, technological development, collaborations, acquisitions, and mergers are the key strategies followed by various medical device companies to increase share in the global artificial disc market. The technological developments in the artificial discs enabled better translational and rotational movements, stability of implant for a long time, minimally invasive surgery and improvement in Quality adjusted life year.