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Artificial Disc Replacement Industry Overview
The global artificial disc replacement market size is anticipated to reach USD 1.09 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 11.7% from 2021 to 2028. The key factors driving the market growth include the rising number of spinal surgeries across the globe, the growing aging population, high demand for surgical alternatives with less tissue disruption, and technological advancements. The COVID-19 pandemic resulted in several challenges, such as logistical bottlenecks, low demand, and decreased sales marketing activities.
Artificial Disc Replacement Market Segmentation
Grand View Research has segmented the global artificial disc replacement market on the basis of material type, indication, and region:
Based on the Indication Insights, the market is segmented into Cervical, Lumbar.
- The cervical disc replacement segment accounted for the maximum revenue share of more than 50% in 2020. The segment is estimated to retain the dominant position growing at the fastest CAGR of over 12% from 2021 to 2028.
- The key factors contributing to this share include a rising number of disc degeneration cases in the cervical discs, as compared to the lumbar discs. Furthermore, the high number of products available for artificial cervical disc replacement is also expected to boost the segment growth.
- Lumbar disc replacement procedures do not require bone fusion, which leads to shorter recovery time as compared to the other spinal procedures, which is expected to positively impact the market growth. Growing technological advancements and research in the space are also anticipated to boost the segment’s growth during the forecast period.
Based on the Material Type Insights, the market is segmented into Metal, Metal + Plastic.
- The metal + plastic material type segment accounted for the highest revenue share of more than 64% in 2020. The majority of the cervical total disc replacement implants, which are FDA-approved in the U.S. today incorporate iterations of metal alloy-based inferior and superior prosthetic endplates, which articulate with a central medical-grade plastic core.
- The metal segment is expected to register the fastest CAGR of 13% during the forecast period. This growth is credited to the rising number of research activities in this segment, due to the potential of metals to remove long-term wear as compared to the metal + plastic materials.
Artificial Disc Replacement Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
The global market is highly competitive. Market players implement strategic initiatives, such as product development launches, expansion of distribution network, and global footprint through subsidiaries and partnerships. Key players are also involved in portfolio diversification and mergers acquisition.
Some prominent players in the global artificial disc replacement market include
- Medtronic
- Orthofix Medical Inc.
- Globus Medical
- Aesculap, Inc.
- NuVasive, Inc.
- AxioMed LLC
- Zimmer Biomet
- SpineArt SA
- Synergy Spine Solutions, Inc.
- Centinel Spine
Order a free sample PDF of the Artificial Disc Replacement Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
