Lumbar Disc Replacement Device Market, by Material (Metal-on-metal and Metal-on-biopolymer), by End User (Hospitals and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share

Lumbar Disc Replacement Device Market, by Material (Metal-on-metal and Metal-on-biopolymer), by End User (Hospitals and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

The lumbar disc replacement is a surgical procedure performed in patients with lower back pain. In this procedure the damaged disc material between the small bones in the spine (vertebrae) is removed and replaced with a synthetic or artificial disk at the lumbar region. Lumbar disc replacement is surgical alternative for fusion surgery for the treatment of lumbar degenerative disc disease. According to NCBI (National Center for Biotechnology Information) data, long term satisfactory results of lumbar disc replacement is registered in the U.S. Even though the implantation rate of lumbar disc replacement is not increased in the last decade. The major challenges of lumbar disc replacement are includes surgical techniques and fear among patient for of late spinal complications over the time period. According to the same data source, the total cost of low-back pain in the U.S exceed to US$100 billion per year. Such high expenditure on low back pain is expected to provide huge market opportunities for key players operating in the market.
Market Dynamics
High Incidence of spinal cord injuries is expected to drive growth of lumbar disc replacement device market.
The growth of this market is attributed to high incidence of spinal cord injuries across the world. This can due to increasing incidence of road accidents. For instance, according to the Tokyo’s Keio University’s February 2021 publication, over 100,000 patients in Japan were paralyzed due to spinal cord injuries. Moreover, according to NCBI, in 2015, incidence of spinal cord injuries is 12,500 annually and around 288,500 people are currently living with SCI (spinal cord injuries) in the U.S. Thus, high number of spinal damage population is a major factor that is expected to drive growth of the lumbar disc replacement device market.
Increasing advancements in products and ongoing research by companies is expected to drive growth of this market. For instance, Aesculap, Inc. offers product named as activL Artificial Disc. This is an ultra-high molecular weight lumbar disc device made up of polyethylene that allows translational, combines natural motion with mechanical stability, and rotational movement. Thus, such advanced product offerings by the key players are expected to drive growth of the market.
Furthermore, many companies have developed artificial lumbar disc devices but have not received the U.S. FDA approval till January 2020. Some of the key players who are waiting for the U.S. FDA approval include Ranier Technology Ltd, Stryker Corporation, AxioMed LLC, Spinalmotion Inc., Medtronic Inc., and NuVasive, Inc.
However, lack of reimbursement for such devices is a major factor that is expected to hamper growth of the market. In the U.S the health insurance companies are not covering the lumbar disc devices in their health insurance plan.

Key features of the study:
This report provides in-depth analysis of the market, global lumbar disc replacement device market size (US$ Mn), and compound annual growth rate (CAGR (%)) for the forecast period (2022-2028), considering 2021 as the base year.
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global lumbar disc replacement device market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and strategies.
Key players covered as a part of this study include AxioMed, Medtronic, B. Braun Melsungen, Stryker Corporation, DePuy Synthes, NuVasive Inc., Paradigm Spine LLC, and Zimmer Biomet.
Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to future product launches, governmental initiatives, market expansions, and marketing tactics.
The global lumbar disc replacement device market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers of reprocessed medical devices, research and consulting firms, new entrants, and financial analysts.
Detailed Segmentation:
Global Lumbar Disc Replacement Device Market, By Material:
Metal-on-metal
Metal-on-biopolymer
Global Lumbar Disc Replacement Device Market, By End User:
Hospitals
Ambulatory Surgical Centers
Global Lumbar Disc Replacement Device Market, By Region :
North America
By Material
Metal-on-metal
Metal-on-biopolymer
By End User
Hospitals
Ambulatory Surgical Centers
By Country:
U.S.
Canada
Latin America
By Material
Metal-on-metal
Metal-on-biopolymer
By End User
Hospitals
Ambulatory Surgical Centers
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Material
Metal-on-metal
Metal-on-biopolymer
By End User
Hospitals
Ambulatory Surgical Centers
By Country:
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Material
Metal-on-metal
Metal-on-biopolymer
By End User
Hospitals
Ambulatory Surgical Centers
By Country:
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Material
Metal-on-metal
Metal-on-biopolymer
By End User
Hospitals
Ambulatory Surgical Centers
By Country:
GCC
Israel
Rest of Middle East
Africa
By Material
Metal-on-metal
Metal-on-biopolymer
By End User
Hospitals
Ambulatory Surgical Centers
By Country/Region:
South Africa
Central Africa
North Africa
Company Profiles
AxioMed LLC.*
Company Overview
Product Portfolio
Financial Performance
Recent Highlights
Strategies
Medtronic
B.Braun Melsungen
Stryker Corporation
DePuy Synthes
NuVasive, Inc.
Paradigm Spine LLC
Zimmer Biomet
“*” marked represents similar segmentation in other categories in the respective section.