Artificial Disc Replacement Market Segmented by Cervical Disc Replacement, Total disc replacement, lumbar artificial disc replacement, Artificial Cervical Disc Replacement, Lumbar disc replacement surgery
Industry: Healthcare
Published Date: May-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 235
Report ID: PMRREP19723
The Artificial Disc Replacement Market witnessed a CAGR of 10.7% between 2014 and 2021. The global Artificial Disc Replacement Market is expected to have 11.8% CAGR between 2022 and 2029. In 2022, the global Artificial Disc Replacement Market size is US$ 636.7 million, which is projected to reach US$ 1,388.6 million by the year 2029.
| Attribute | Key Insights |
|---|---|
|
Artificial Disc Replacement Market Size (2022) |
US$ 991.1 Mn |
|
Projected Market Value (2029) |
US$ 1,388.6 Mn |
|
Global Market Growth Rate (2022-2029) |
11.8% CAGR |
|
Share in parent market |
5% |
The Artificial Disc Replacement Market is expected to witness a CAGR of 11.8% during the forecast period between 2022 and 2029. The growing incidences of spinal injuries due to the rising number of accidents and old age are expected to drive the global Artificial Disc Replacement market. The increased emphasis on technical improvements and the launch of new products are also expected to fuel market growth in the near future.
Due to the rising elderly patient pool suffering from orthopedic problems, the artificial disc replacement market sector is expected to grow during the forecast period. Low back pain (LBP) is one of the most common ailments among the elderly. Because of the increasing incidences of LBP, the demand for disc replacement treatments is increasing. The increasing adoption of the artificial disc in patients suffering from discogenic pain and a deteriorated lumbar spine will drive market growth in the near future.
The rising number of outpatient treatments is one of the economic factors driving the artificial disc replacement market. The significant transition from inpatient to outpatient spine-related surgeries is expected to create opportunities for rapid growth in the artificial disc replacement market in the near future.
The artificial disc replacement market is expected to grow in value as a result of technological advancements. Increasing technological advancements are resulting in precise surgery and faster recovery. Many developing countries throughout the world are putting more emphasis on improving their healthcare infrastructure by making different modern therapies available for their people. This trend is likely to be one of the primary drivers of the global artificial disc replacement market.
The high cost of the product, stringent regulatory standards, and lack of consistent reimbursement policies for disc replacements - all impede the growth of the artificial disc market. The risks associated with surgery are also a significant challenge for market players.
“Significant Decrease in Demand”
The COVID-19 pandemic destroyed the global economy and had a significant impact on the Artificial Disc Replacement Market between March 2020 and September 2021. The outbreak hampered the operations of the healthcare sector, with non-essential treatments and procedures either being halted or postponed due to an increase in number covid-19 patients and strict government restrictions. Significant parts of the global economy were affected by the global lockdown, and interruptions in the supply chain created problems in the transport of goods, affecting the market growth. However, the market recovered after September 2021.
The Artificial Disc Replacement industry is moderately competitive due to the presence of several large players. Key players in the market are focusing on mergers and acquisitions as the industry is in the growth phase. Companies are making strategic decisions regarding organic as well as inorganic expansion in order to expand their product portfolios and grow their market share in order to expand their product portfolios and grow their market share.
| Attribute | Details |
|---|---|
|
Forecast Period |
2022-2029 |
|
Historical Data Available for |
2014-2021 |
|
Market Analysis |
US$ Mn/Bn for Value |
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
By Product |
|
Key Companies Profiled |
|
|
Customization & Pricing |
Available upon Request |
Artificial Disc Replacement Market by Indication
Atherectomy Devices Market by Region
To know more about delivery timeline for this report Contact Sales
In 2022, the Artificial Disc Replacement Market stands at USD 636.7 million, and it is expected to reach USD 1,388.6 million by 2029 at a CAGR of 11.8%.
Artificial Disc Replacement Market exhibited a 10.7% CAGR between 2014 and 2021.
High costs and risks associated with surgery are the key restraint in the Artificial Disc Replacement Market.
An increase in the adoption of artificial discs and the increasing demand for outpatient surgeries along with the technological advancements are the key factors driving the growth of the market.
Zimmer Biomet Holdings. Inc., Medtronic Plc., B.Braun Melsungen AG, Johnson and Johnson (DePuy Synthes), and Medicrea International are among the top players in the market.
