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Premium Report Details
Base Year: 2019
Companies covered: 14
Tables & Figures: 181
Countries covered: 30
Pages: 125
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Artificial Disc Market
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Artificial Disc Analysis
Artificial disc market valuation from cervical artificial discs segment is poised to surpass USD 1.5 billion by 2032. Cervical disc replacement procedures are extensively performed as an alternative to spinal fusion for faster recovery after replacement. The growing concerns associated with post-surgery risks of spinal fusion has accelerated the patient preference for cervical artificial disc replacement procedures. This type of disc replacement method offers less recovery time, better results than fusion, long-lasting results, and low risk of reoperation at the same/different cervical level. Additionally, the rising incidence rate of cervicogenic headaches caused by problems in the upper cervical spine will proliferate the demand for artificial discs.
Based on material, the metal-on-metal material segment accounted for more than 36% share of the artificial disc market in 2022. As compared to metal-on-biopolymer, metal-on-metal devices are relatively cheaper, and thus record significant preference. Metal-based implants made up of cobalt-based alloys, stainless steel, and titanium-based alloys are extensively used to manufacture diverse orthopedic implants. These implants are cost-effective, durable, and feature excellent mechanical properties. The ongoing developments and studies conducted for the development of degradable metal-based implants will also augment the artificial disc industry.
In terms of revenue, the artificial disc market share from degenerative spine diseases is poised to exceed USD 1.7 billion by 2032. The growing number of patients suffering from degenerative spine disease is expected to fuel the demand for artificial disc replacement procedures across the globe. The presence of degenerated discs in the lumbar spine increases the risk of chronic lower back pain, necessitating appropriate treatment. Low back pain (LBP) is a major contributor to the healthcare burden and has thus compelled several governments to introduce favorable policies.
Artificial disc market from ambulatory surgical centers segment is projected to exhibit over 2.5% CAGR from 2023-2032. The growing number of artificial disc replacement procedures performed in ambulatory surgical centers (ASCs) can be credited to the presence of favorable reimbursement scenario. Additionally, ASCs offer convenient and affordable healthcare along with access to state-of-the-art medical equipment and implants, thus attracting a large patient pool. Moreover, the advent of outpatient spine surgery and the growing preference for minimally invasive spine treatment will boost the demand for artificial discs across these settings.
North America artificial disc market is estimated to surpass USD 1.3 billion by 2032. North America is home to economies such as the U.S. and Canada with a robust healthcare infrastructure and a solid footprint of healthcare facilities. According to the American Hospital Association data, the U.S. has more than 6,000 registered hospitals. The surging geriatric population, the rapid integration of advanced medical technologies and the rising disposable income will augment industry expansion across North America. As per the U.S. Census Bureau, the number of individuals aged 65 years and above is anticipated to increase from 56 million in 2022 to more than 73 million in 2030 and further surpass 85 million by 2050, accounting for over 20% of the overall U.S. population.