11-09-2018 / Press release from: Global Market Insights Inc.
Cervical artificial disc segment accounted for the largest revenue share of USD 790.1 million in 2017 and is estimated to show significant growth over the forecast period. Cervical disc replacement is a motion preserving surgery and offers benefits over motion creating surgical fusion procedures. According to a clinical trial conducted for cervical artificial discs, cervical discs proved efficient for reducing neck pain by 70-80%. Advantages offered by cervical artificial discs such as better compatibility and ease of insertion, decreases the need for revision surgery. Availability of advanced products as well as increasing demand for minimally invasive surgeries will drive the segmental growth over the forecast timeframe.
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Lumbar artificial disc segment is estimated to show 21.0% CAGR over the forecast period due to rapidly growing elderly patient population suffering from orthopaedic diseases. Low back pain (LBP) is one of the major disabilities among the geriatric population that limits functionality and decreases the quality of life. Increasing prevalence of LBP will increase the demand for lumbar total disc replacement (LTDR) procedures, thereby boosting the lumbar artificial disc segment growth. Growing applications of LTDR procedure in patients with discogenic pain and degenerated lumbar spine should further accelerate the segmental growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• DePuy Synthes Companies
• Zimmer Biomet
• Globus Medical
• Paradigm Spine, LLC
• Simplify Medical, Inc.
• K2M Design, Inc.
• AxioMed, LLC
• BKK B. Braun Melsungen AG
North America market dominated industry with 52.0% revenue share in 2017 and is forecasted to show lucrative growth over the forecast period. Rising prevalence of degenerative disc diseases due to sedentary lifestyle is the major factor that will spur the artificial disc market size. Moreover, established presence of key industry players in the region will subsequently increase availability of new and advanced devices among people, thereby driving the North America artificial disc market in foreseeable future. Partial government support for disc replacement procedures due to its advantages over the traditional methods will further augment the regional growth.
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Artificial Disc Market, by Material, 2013-2024 (USD Million)
Artificial Disc Market, by Type, 2013-2024 (USD Million)
• Cervical artificial disc
• Lumbar artificial disc
Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.
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