The global Artificial Discs Market is estimated to be valued at US$ 0.74 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Artificial discs are prosthetic implants used as an alternative to fusion surgery for the treatment of cervical and lumbar degenerative disc disease. They help preserve motion at the operative level and eliminate adjacent segment disease associated with fusion.
Market key trends:
One of the major trends in the artificial discs market is the increasing adoption of hybrid surgeries. Hybrid surgeries involve the use of both fusion and disc replacement techniques. This allows surgeons to treat multiple levels during surgery. For example, if a patient has degeneration at two or more levels, surgeons can perform fusion at one level and disc replacement at another level using artificial discs. This provides stability from fusion and maintains motion from disc replacement.
SWOT Analysis
Strength: Artificial discs are designed to mimic the natural movement and properties of the spine. This makes them a good alternative to fusion surgery.
Weakness: Long term clinical efficacy and safety data is still pending for artificial discs. There are uncertainties regarding their durability over decades.
Opportunity: Rising geriatric population globally is increasing the burden of degenerative spinal disorders. This presents an opportunity for artificial disc manufacturers to cater to this patient segment.
Threats: Stiff competition from emerging biodegradable implants and stem-cell based therapies. Stringent regulatory pathways also delay product approvals and market entry.
Key Takeaways
The Global Artificial Discs Market Demand is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing preference for motion preservation procedures over fusion surgeries.
Regional analysis
North America currently dominates the artificial discs market owing to rising healthcare expenditures and availability of advanced treatment options. The Asia Pacific region is anticipated to be the fastest growing market during the forecast period driven by growing medical tourism industry and increasing standard of living.
Key players
Key players operating in the artificial discs market are Medtronic, DePuy Synthes, Stryker Corporation, NuVasive Inc., Globus Medical Inc., Orthofix International N.V., Zimmer Biomet Holdings Inc., Alphatec Holdings Inc., B. Braun Melsungen AG, Centinel Spine LLC. These players are focusing on new product launches and geographic expansions to consolidate their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
