Artificial Disc Replacement Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Artificial Disc Replacement Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global Artificial Disc Replacement Market is set to continue its growth trajectory during forecast period 2024 to 2031. In 2024, the market's size stood at US$ 1 billion, and it is projected to reach a valuation of US$ 1.6 billion by 2031.

Driving Factors for the Artificial Disc Replacement Market

""Rising Adoption of Artificial Discs""

The artificial disc replacement market is poised for growth, primarily due to the increasing adoption of artificial discs, especially among the elderly population suffering from orthopedic problems. Low back pain (LBP), a prevalent condition among the elderly, has led to a growing demand for disc replacement treatments. The adoption of artificial discs in patients with discogenic pain and deteriorated lumbar spines is expected to fuel market expansion.

""Increasing Demand for Outpatient Surgeries""

The shift from inpatient to outpatient spine-related surgeries is a significant economic driver for the artificial disc replacement market. The rising number of outpatient procedures is expected to create substantial growth opportunities in the near future.

""Technological Advancements""

Technological advancements in the field of artificial disc replacement are enhancing the value of this market. These advancements are leading to more precise surgeries and quicker recovery times. Many countries worldwide are prioritizing the improvement of healthcare infrastructure and the availability of modern therapies, contributing to the market's growth.

Challenges Faced by the Artificial Disc Replacement Market

""High Costs and Surgical Risks""

The high cost of artificial disc replacement products, stringent regulatory standards, and inconsistent reimbursement policies for disc replacements are challenges inhibiting market growth. Surgical risks associated with these procedures also present a significant hurdle for market players.

Impact of COVID-19 on the Artificial Disc Replacement Market

""Significant Decrease in Demand""

The global Artificial Disc Replacement Market experienced a decline in demand between March 2020 and September 2021 due to the COVID-19 pandemic. The healthcare sector's operations were hampered by the pandemic, with non-essential treatments and procedures postponed or halted to prioritize COVID-19 patients and adhere to government restrictions. Global lockdowns disrupted supply chains, affecting the transportation of goods and impeding market growth. However, the market began to recover after September 2021.

Competitive Landscape

The Artificial Disc Replacement industry is moderately competitive, featuring several prominent players. Key market participants are focusing on mergers and acquisitions to expand their product portfolios and increase market share, capitalizing on the industry's growth phase. Strategic decisions encompass both organic and inorganic expansion efforts.

Key Companies Profiled
• Zimmer Biomet Holdings, Inc.
• Medtronic Plc.
• B.Braun Melsungen AG
• Johnson and Johnson (DePuy Synthes)
• Medicrea International
• Orthofix Holdings, Inc.
• NuVasive, Inc.
• Globus Medical Inc.
• Stryker Corporation (K2M Group Holdings, Inc.)
• Alphatec Spine, Inc.

Artificial Disc Replacement Market Segmentation

Artificial Disc Replacement Market by Indication
• Cervical
• Lumbar

Atherectomy Devices Market by Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)

Please note: The PDF e-mail from publisher version of this report is for a global site license. Delivery Timelines - 5 working days.