Artificial Disc Market to exceed USD 4.5 billion by 2024 as per a new research report.Steadily growing number of osteoarthritis and rheumatoid arthritis procedures around the world is a primary factor responsible for artificial disc market growth. Increasing incidences of degenerative disc diseases and adult patient’s willingness to opt for artificial disc are predominant factors boosting the global artificial disc market growth.
Moreover, promoting factors such as improving medical literacy, medical tourism and growing practice of advanced medical interventions are some of the high impact rendering forces.
From patient’s side, growing ability of patients to afford cost intensive artificial disc procedures also happens to be a major factor for market growth. Furthermore, low probability of re-operation with artificial disc also plays a key role in patient’s decision to undergo procedure. Rising per capita income in emerging economies should further add on to the market demand and therefore spur the market growth during the forecast period.
However, risks associated during and after the procedure such as development of infections, dislocation of disc, stenosis etc. mind-blocks patient from undergoing the surgery, especially seen in young patient population. Moreover, inadequate insurance coverage on artificial disc procedures in many countries happens to be a major constraint in market growth.
Cervical artificial disc market commanded over 60% of total artificial disc market in 2016 in years to come, rising number of cervical artificial discs surgeries and accessibility of more number of products will add to growth of artificial cervical disc market. Recent approvals of distinctive types of cervical disc in U.S. should prove to be a growth promoter in near future. Metal on biopolymer material should continue to be the most commonly used during the forecast timeframe, because of its high biocompatibility, shock absorbing capability and ease of insertion these advantages have resulted to higher demand of metal on biopolymer than metal on metal in recent past. In coming years, improvements in metal on biopolymer material should drive its market growth.
U.S. artificial disc market will hold nearly 40% of market share by 2024, because of increasing awareness, technological advancements and rising per capita healthcare expenditure. Also, high success rates of artificial disc replacements and increasing disposable income will foster the artificial disc market growth. However, dearth of adequate insurance coverage on artificial disc procedures should hinder the market growth.
Germany artificial disc market held more than 20% share in total Europe artificial disc market in 2016 and is poised to witness significant growth during the forecast period, because of increasing insurance coverage on surgeries and expanding customer base from so far unaddressed geographical terrains.
Japan artificial disc market is slated to grow rapidly during the forecast period, owing to growing number of surgeries coupled with technological advancements.
Major industry players such as Centinel Spine ( ProDisc), Medtronic, NuVasive, Globus Medical, Zimmer-Biomet, Stryker Corporation and Aesculap Implant Systems are consolidating their market position by focusing on research activities to develop new cost-effective technologies.
Please find more than 40 competition devices in: http://www.thespinemarketgroup.com/category/adr/
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