July 12, 2024
Artificial Discs Market

Artificial Discs Market Estimated To Grow Thanks to Increasing Adoption of Minimally Invasive Surgeries and Rising Geriatric Population

The Artificial Discs market is estimated to be valued at US$ 0.74 billion in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Artificial discs are medical devices used as an alternative to spinal fusion for treating back pain caused by degenerative disc disease. They are placed between the vertebrae of the spine to replace damaged discs and allow continued motion. They help reduce stress on adjacent discs and maintain spinal flexibility and distance between vertebrae. They are made from synthetic materials like metal alloys, plastics and elastic polymers.

Market Dynamics:

The rise in minimally invasive surgeries is expected to drive the growth of the artificial discs market over the forecast period. Minimally invasive disc replacement surgeries cause less damage to muscles, tissues and nerves and enable quicker recovery compared to open back surgeries. The growing geriatric population is also fueling market growth. Age-related degenerative disc disease increases the risk of back pain which is a major indication for artificial disc replacement. According to the United Nations, the number of people aged 65 years and above is expected to more than double by 2050, reaching over 1.5 billion. Additionally, advancement in artificial disc technology is leading to the development of more durable and customized discs with improved kinematic profiles and physiologic motions of the spine. 3D printing is being explored to manufacture patient-specific artificial discs with ideal sizes and shapes. This is expected to further increase adoption and drive the artificial discs market during the forecast period.

Segment Analysis

The global artificial discs market is dominated by cervical artificial discs owing to the high prevalence and rising cases of neck pain among middle-aged population. Cervical artificial discs are primarily used to replace a damaged disk in the neck vertebrae to relieve pain caused by degenerative disc disease or other neck injuries. These discs help restore the normal height between vertebrae and prevent bone-on-bone contact which is a major cause of neck pain.

PEST Analysis

Political: Governments across countries are supporting initiatives aimed at promoting innovations in spine treatments to provide better options for patients suffering from back pain. Some countries also provide favorable reimbursement policies for artificial disc replacement surgeries.
Economic: Rising healthcare spending coupled with increasing per capita income is driving demand for modern spine treatment technologies for faster recovery and improved quality of life.

Social: Growing awareness about spinal disorders and availability of newer treatment methods is encouraging patients to opt for artificial disc replacement surgeries at an early stage to quickly resume normal activities.
Technological: Companies are investing in R&D to develop artificial discs with advanced biomaterials, motion-preservation technologies and 3D printing capabilities for better anatomical fit and durability. Wearable and remote monitoring devices are also gaining traction.

Key Takeaways

The global Artificial Discs Market Growth is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing prevalence of degenerative disc disease and spine injuries among aging population.

The North America region is expected to dominate the artificial discs market during the forecast period owing to availability of advanced healthcare facilities and significant awareness about artificial disc replacement therapies for treating back and neck pain in the region. The U.S. is the major contributor to the growth of artificial discs market in North America.

Key players operating in the artificial discs market are Medtronic, DePuy Synthes, Stryker Corporation, NuVasive Inc., Globus Medical Inc., Orthofix International N.V., Zimmer Biomet Holdings Inc., Alphatec Holdings Inc., B. Braun Melsungen AG, Centinel Spine LLC. These key players are focusing on new product launches, strategic acquisitions and partnerships to strengthen their market position. For instance, in 2021, NuVasive Inc. acquired Simplify Medical to expand its portfolio of artificial disc and biologics products.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it