Artificial Disc Market size is set to exceed USD 4.5 billion by 2024 according to a research report by Global Market Insights, Inc.
Increasing prevalence of degenerative disc diseases and growing trend towards noninvasive medical interventions will stimulate artificial disc market growth. Reduction in re-operation rate compared to other fusion methods will also assist industry expansion.
Technological innovation and new product development will create effective treatment options in artificial disc replacement market space. Improvement in artificial disc clinical trial results have resulted into increased demand among surgeon’s and patients. Lack of uniform and adequate reimbursement, high procedure cost and expensive devices should hamper artificial disc market growth over the forecast period.
Lumbar artificial disc was approved for total replacement surgeries in the U.S. and according to Global Market Insights, Inc it has witnessed steady growth since 2004. It has become the most preferred treatment option among patients with severe back pain.
There are many lumbar artificial discs in the market. The most relevant products come from Companies as Braun Aesculap, Spineart, Globus Medical, Spinal Kinetics (recently acquired by Orthofix) or Centinel Spine (they purchased the Prodisc-L from Depuy-Synthes in 2018). In our section ADL (Artificial Discs Lumbar) we have included all the products that are today in the marketplace as well as the old ones that are no longer there: The 16 most relevant Lumbar Artificial Discs
Metal on biopolymer has seen significant gains, with expectations to exceed USD 4 billion by 2024. Flexible PU/ PE allows better motion and shock absorption. Metal on polyethylene device makes the insertion of the device easier and is the device of choice for surgeons. Metal on Metal artificial disc should witness over 20% CAGR over forecast period. The rising demand for cost-effective artificial disc in emerging nations should propel segment growth.
U.S. artificial disc market looks set to surpass USD 2 billion by 2024, which translates to over 20% growth. Increasing healthcare expenditure, favorable reimbursement policy structure, growing disposable income and higher success rate of artificial disc replacements should stimulate business growth.
Germany held more than 20% of the 2015 Europe artificial disc market share, and expected to witness more than 15% growth. Demographic trends, well-developed healthcare infrastructure, low cost of artificial disc replacement surgery should fuel industry growth.
China artificial disc market will witness a robust 24% CAGR owing to rapid economic growth, improved healthcare infrastructure and rising trend towards medical tourism and cost-effective surgical procedures.
Japan artificial disc market held more than 25% of the regional revenue share and is expected to witness over 20% CAGR. High disposable income, sophisticated healthcare infrastructure and significant utilization of technologically advanced products will fuel the industry growth.