Artificial Discs Market

Artificial Discs Market: The Future of Spinal Care market

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The Artificial Discs market is estimated to be valued at US$ 0.74 billion in 2022 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Artificial discs are prosthetic implants used as an alternative to spinal fusion in the treatment of chronic back pain caused by degenerative disc disease. They are designed to replace damaged discs and preserve spinal motion. The growing geriatric population suffering from back pain and the advantages of disc replacement over spinal fusion are fueling the growth of this market.

Market Dynamics:

Increasing obese and geriatric population susceptible to spine disorders along with growing awareness about newer treatment options like disc replacement surgery is expected to drive the artificial discs market over the forecast period. According to the United Nations, between 2015 and 2030, the proportion of the world’s population over 60 years will rise from 12% to 22%. Also, over 650 million people are obese worldwide. Rising number of people living with conditions like obesity and old age propels the need for effective spine care and treatments like artificial discs. Additionally, disc replacement allows faster recovery and greater spinal flexibility compared to fusion surgery, preventing adjacent level degeneration of discs. These advantages are further fueling the demand for artificial discs in the treatment of back pain.

Market key trends:

The artificial discs market is witnessing increasing adoption of motion preservation technologies. Motion preservation aims to maintain the natural movement of the spine through the use of artificial discs and other technologies. Artificial discs offer potential advantages over spinal fusion as they help preserve spinal mobility and reduce the risk of adjacent segment degeneration. Growing popularity of minimally invasive surgery among patients is also fueling the demand for artificial discs as they help achieve faster recovery rates with less tissue damage and blood loss compared to open surgeries.

SWOT Analysis

Strengths: Artificial discs provide pain relief and help maintain mobility and biomechanics of the spine. They offer an alternative to fusion surgery.
Weaknesses: High costs associated with implantation procedures. Risks of potential long term complications are still unknown.
Opportunities: Growing geriatric population prone to degenerative disc diseases presents an opportunity. Development of new biomaterials could help improve biocompatibility.
Threats: Preference for alternative treatment options such as spinal fusion. Stringent regulatory processes for approval may delay product launches.

Key Takeaways

The global Artificial Discs Market Growth is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing prevalence of degenerative disc disease among the geriatric population. The North America region currently dominates the artificial discs market owing to the rising cases of lower back pain and availability of advanced healthcare facilities in the region.

Regional analysis:
North America is expected to hold the largest share of the artificial discs market during the forecast period. This is attributed to the growing geriatric population suffering from lower back pain, favorable reimbursement policies, and development of advanced technologies. According to the U.S. Census Bureau, the U.S. population aged 65 and above is projected to grow from 56 million in 2022 to 95 million by 2060. Asia Pacific is projected to witness the fastest growth rate owing to quickly evolving healthcare infrastructure and increasing spending on healthcare.

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, and Centinel Spine LLC. Medtronic and DePuy Synthes currently lead the market with their broad artificial disc product portfolios approved for commercialization across major markets.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it