In terms of revenue, the Global Artificial Disc Replacement Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 12.3% from 2023 to 2030.
The global Artificial Disc Replacement market is expected to experience significant growth in the coming years. This is primarily driven by the increasing prevalence of spinal disorders and the growing adoption of minimally invasive surgical procedures. Artificial Disc Replacement involves the removal of a damaged or degenerated disc in the spine and its replacement with an artificial disc. One of the key factors driving the market's growth is the rising prevalence of spinal disorders. This is mainly attributed to an aging population, sedentary lifestyles, and the increasing prevalence of obesity. Another important factor contributing to the market's growth is the growing adoption of minimally invasive surgical procedures. Compared to traditional open surgeries, minimally invasive procedures offer several advantages, such as smaller incisions, reduced scarring, shorter hospital stays, and faster recovery times. These benefits have led to a shift towards minimally invasive techniques, including Artificial Disc Replacement, for treating spinal disorders.
Key Highlights from the Report
· Based on the Material Type segment, the Metal & Plastic category is anticipated to dominate the Artificial Disc Replacement market with the largest market share in the forecast period, considering the higher operational success rates and the advantages of medical plastic and metal hybrid surface over traditional metal-on-metal.
· By Indication, the Cervical Disc Replacement market segment accounted for the maximum CAGR during the forecast period because of the rising number of disc degeneration cases in the cervical discs compared to the lumbar discs.
· In terms of Region, North America held the significant market share in 2022 and is likely to be the most gainful market in the future. Elements, including the high prevalence of spinal disorders and well-established healthcare infrastructure, are aiding this market expansion.
Artificial Disc Replacement is a surgical procedure that aims to replace a damaged or degenerated intervertebral disc in the spine with an artificial one. There are two main types of : total disc replacement, which replaces the entire disc, and disc nucleus replacement, which only returns the inner part of the disc. can be used to treat various conditions, such as disc herniation or degenerative disc disease, and it offers several benefits over traditional treatments like spinal fusion, including increased range of motion, reduced risk of adjacent disc degeneration, and shorter recovery time.
The COVID-19 outbreak has significantly impacted the Artificial Disc Replacement Market. The market has experienced a decline due to the postponement of elective surgeries and the focus on treating COVID-19 patients. However, the market is expected to rebound as the healthcare system recovers. The increasing prevalence of spinal disorders and the growing demand for minimally invasive procedures are expected to drive the growth of the Artificial Disc Replacement Market in the post-COVID-19 period.
However, several obstacles could impede the expansion of the market. One significant challenge is the expensive nature of Artificial Disc Replacement surgery, which can be a deterrent in developing countries where healthcare services are limited. Furthermore, the reimbursement landscape for these procedures differs across various regions, restricting their uptake.
North America Artificial Disc Replacement market is expected to witness a noteworthy development with a significant growth rate over the analysis period. This can be attributed to the high prevalence of spinal disorders and the presence of well-established healthcare infrastructure in the region. Notable industry participants like Medtronic, Orthofix Medical Inc., Globus Medical, Aesculap Inc., Zimmer Biomet, and NuVasive Inc. are anticipated to accelerate market growth in the area. Additionally, the increasing adoption of advanced technologies and minimally invasive procedures for the treatment of spinal disorders further drives the growth of the Artificial Disc Replacement market in North America. Moreover, the rising geriatric population and the growing awareness regarding the benefits of Artificial Disc Replacement surgery contribute to the market expansion.
The Global Artificial Disc Replacement Market is Segmented as follows
- Material Type
- Metal & Plastic
- Cervical Disc Replacement
- Lumbar Disc Replacement
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Artificial Disc Replacement Market is
Medtronic PLC (Ireland), Orthofix Medical Inc. (U.S.), Globus Medical (U.S.), Aesculap Inc. (U.S.), NuVasive Inc. (U.S.), AxioMed LLC (U.S.), Zimmer Biomet (U.S.), SpineArt SA (Switzerland), Synergy Spine Solutions Inc. (U.S.), Centinel Spine (U.S.)
The Global Artificial Disc Replacement Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|