Artificial Disc Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Artificial Disc Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global artificial disc market size reached US$ 2.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.3 Billion by 2028, exhibiting a growth rate (CAGR) of 18.3% during 2023-2028.

An artificial disc is an arthroplasty device that is implanted into the lumbar or cervical spine to imitate the function of damaged intervertebral discs. It is composed of two endplates that are generally made using medical-grade polyethylene, cobalt-chromium or titanium alloy. It is soft and compressible and helps relieve back pain while retaining movement and flexibility. Nowadays, artificial disc replacement, also known as arthroplasty, is gaining traction over fusion surgical procedures across various regions. Its eligibility is determined by doctors using several tests, such as X-rays, discography, computed tomography (CT) scans and magnetic resonance imaging (MRI).

Artificial Disc Market Trends:

The rising prevalence of degenerative disc disease (DDD), along with the growing geriatric population and increasing adoption of minimally invasive surgery (MIS), represents one of the key factors impelling the global artificial disc market growth. Moreover, rising awareness about the benefits of arthroplasty, along with reimbursements provided by insurance companies, is escalating the demand for artificial discs. Apart from this, governments of several countries are improving healthcare infrastructure and encouraging medical tourism, which represents another growth-inducing factor bolstering the market growth. However, due to the mass spread of the coronavirus disease (COVID-19), governments of numerous countries have imposed lockdowns and are encouraging social distancing measures. As a result, several medical centers have postponed non-essential arthroplasty procedures, which has impacted the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial disc market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on disc type, material type and end user.

Breakup by Disc Type:

Cervical Artificial Disc
Lumbar Artificial Disc
 

Breakup by Material Type:

Metal on Polymer
Metal on Metal
 

Breakup by End User:

Hospitals and Clinics
Ambulatory Surgery Centers
Others
 

Breakup by Region:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa
 

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being B. Braun Melsungen Aktiengesellschaft (B. Braun Holding GmbH & Co. KG), Depuy Synthes Inc. (Johnson & Johnson), Globus Medical Inc., Medtronic plc, Nuvasive Inc., Orthofix Medical Inc., Paradigm Spine LLC (RTI Surgical Holdings Inc.), Smith & Nephew Plc, Stryker Corporation and Zimmer Biomet Holdings Inc.

Key Questions Answered in This Report:

How has the global artificial disc market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global artificial disc market?
What are the key regional markets?
What is the breakup of the market based on the disc type?
What is the breakup of the market based on the material type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global artificial disc market and who are the key players?
What is the degree of competition in the industry?