Market Research Report
Artificial Disc Market with COVID-19 Impact Analysis, By Disc Type, By Material Type, and By Region - Size, Share, & Forecast from 2021-2027
|Artificial Disc Market with COVID-19 Impact Analysis, By Disc Type, By Material Type, and By Region - Size, Share, & Forecast from 2021-2027|
Published: November 1, 2020
AnalystView Market Insights
Content info: 218 Pages
Delivery time: 2-3 business days
The global artificial disc market was valued at USD 1.66 billion by 2019, growing with 18.6% CAGR during the forecast period, 2021-2027.
An artificial disc is a device implanted into the spine to emulate the functions of a normal disc which allow motion and carry the load. An artificial disc is also known as disc replacement or disc prosthesis. The designs of the artificial discs are mainly classified into two types' disc nucleus replacement and total disc replacement. Artificial discs are usually made up of metal materials or plastic-like (biopolymer), or a mixture of both. Total disc replacement is implanted into the space between the vertebra. It is a device in which all or most of the disc tissue is removed and a replacement. These total disc replacements have been used in Europe since the late 1980s. Mostly the total disc replacement is implemented with two plates, one of which attaches above the vertebrae to the disc being replaced and the other below vertebrae. Some devices include soft plastic-like piece in-between plates that are compressible and offers smooth motion, usually surfaces slide across each other.
The artificial disc is used to treat pain which is not recovered or reduced with non-operative treatments such as medications, injections, or physical therapy, etc. It is used to treat severe back pain, chronic pain, and cervical pain. As compared to traditional fusion surgery, artificial disc replacement is more beneficial as it permits a more rapid return to activities. Moreover, low back pain is the dominating cause of disability across the globe. For instance, according to the Global Burden of Disease, nearly 540 million people were estimated to be affected by low back pain disability at any one time.
The increasing geriatric population leads to the rising prevalence of degenerative spine disorder, increasing demand for minimal surgical procedures, and technological advancements in the artificial discs are the vital motivating factors in the artificial disc market. According to the data reported by the World Health Organization (WHO), the lifetime prevalence of low back pain is projected to be 60%-70% in developed economies. The prevalence rate for children and adolescents is lower i.e. 5% per year as compared to adults.
The increasing aging population and advancement in artificial disc replacements in North America are projected to account for a higher market share in the artificial disc market. Around 80% of adults suffer from low back pain in the United States at some point in their lifetimes. Furthermore, the availability of well-established healthcare infrastructure and growing healthcare expenditure is also propelling the growth of the business market. In February 2019, the U.S. FDA approved Orthofix Medical's M6-C category of artificial cervical disc for patients suffering from cervical disc degeneration. This product was developed by Orthofix's subsidiary firm Spinal Kinetics- a medical device company, primarily into spine products.
Key features of the study:
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows: