Artificial Disc Replacement Market

Artificial Disc Replacement Market Outlook (2022 - 2029)

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.

Artificial Disc Replacement Market Demand Analysis (2014-2021) v/s Market Outlook (2022-2029)

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.

What is expected to keep the Hopes High for Artificial Disc Replacement Market?

• An increase in the adoption of artificial discs

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.

• Increasing demand for Outpatient Surgeries

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.

• Technological Advancements

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.

What restraints is the Artificial Disc Replacement Market subject to?

• “High Costs And Risks Associated With Surgery”

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.

How has Covid-19 affected the Artificial Disc Replacement Market?

“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.

Competitive Landscape

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.

• NuVasive, Inc. received the approval for the NuVasive Simplify Cervical Artificial Disc (Simplify Disc) from the United States Food and Drug Administration (FDA) for two-level cervical total disc replacement (cTDR) in April 2021.
• Gleneagles Global Health City launched an advanced endoscopic spine center in Chennai in March 2021 to treat spinal disorders requiring surgery, including lower back pain, facet joint pain, sciatic pain, and neck pain radiating to the hands.

Artificial Disc Replacement Market Industry Report Scope

Artificial Disc Replacement Market Categorization

Artificial Disc Replacement Market by Indication

• Cervical
• Lumbar

Atherectomy Devices Market by Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)