Artificial Disc Market is estimated to surpass $ 934 Million marks in 2019 and reach USD 3,153.2 Million by 2024, at a Compound Annual Growth Rate (CAGR) of 20.5% during the forecast period 2016-2024 globally. A rising incidence of degenerative diseases and increasing preference for minimally invasive surgical procedures should drive Artificial Disc Market size. Low re-operation rate associated with artificial discs coupled with better clinical trials results compared to fusion techniques should also boost industry growth. Product innovation and technological innovation, along with increasing research activities for multi-level artificial disc should propel market growth. High device cost, stringent regulatory guidelines and lack of uniform reimbursement policies for disc replacement, should restraint artificial disc industry growth.Artificial Disc MarketArtificial Disc Market1
Growing healthcare expenditure, supportive reimbursements, and increasing disposable income are projected to drive the Artificial Disc Market in the U.S. High success rate of artificial disc replacements are also spurring market growth. In addition, the prevalence of degenerative disc disease and demand for non-invasive procedures are likely to augment the market. The growth in the industry is expected to be majorly led by product and technological innovations, increasing incidence of degenerative disc diseases, rising propensity for minimal incision surgeries, better clinical trial results with cervical total disc replacement (C-TDR) compared to anterior cervical discectomy and fusion (ACDF), long-term cost benefits of disc replacement over spinal fusion procedures, surging geriatric population, and rising healthcare expenditure.Artificial Disc Market2Cervical discs held over 65% of Artificial Disc Market share in 2017. Growing number of surgeries and the availability of a number of products should lead the industry expansion. The rising per capita income is likely to increase the affordability of patients for expensive surgical procedures, including artificial disc replacement surgeries. According to the World Bank, the GDP per capita of India increased from $1,345.8 in 2010 to $1,709.4 in 2016. A similar trend has been observed for other developing countries, such as Papua New Guinea, the Philippines, and Indonesia, which is contributing to the growth of the Asia-Pacific Cervical disc market.
North America Artificial Disc Market accounted for the highest revenue in 2017 and is projected to grow at a significant rate during the forecast period. U.S. Artificial Disc Market was the highest Artificial Disc Market share in North America. Higher disposable income along with increasing healthcare expenditure should spur business growth. Presence of advanced facilities for disc replacement surgeries, trained surgeons, and favorable reimbursement policies will also contribute to regional growth.
Maximize Market Research has comprehensively analyzed the Artificial Disc Market emphasizing on each segment keeping global and regional dynamics in perspective. The driving forces, as well as considerable restraints, have been explained in depth to attain a balanced scenario. The report classifies Artificial Disc Market into various segments such as Type, Applications, and Regions providing a thorough understanding of the Artificial Disc Ecosystem. Importantly, the report delivers forecasts of the market, giving an insight into the future opportunities that exist in the Artificial Disc Market.
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The scope of the Report:
By Type: Cervical Artificial Disc, Lumbar Artificial Disc
By Material: Metal on Metal, Metal on Biopolymer
By Geography: North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Simplify Medical Inc.
Spinal Kinetics Inc.
Globus Medical Inc.
Johnson & Johnson
B. Braun Melsungen AG
Zimmer Biomet Holdings Inc.
Aesculap Implant System, LLC
Alphatec Spine Inc.
Smith & Nephew
Synthes Holding AG
De Puy Spine
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