Artificial Disc Market

Artificial Disc Market Size (2023 to 2028)

The global artificial disc market size is estimated to be growing at a CAGR of 19% from 2023 to 2028. As a result, the market size is estimated to be USD 7.44 billion by 2028 and USD 3.11 billion by 2023. 

Artificial discs are implants made of metal or metal polymer inserted into the spine to replicate the functions of actual discs. A new procedure called artificial disc replacement replaces the function of a damaged or diseased spinal disc. For the surgical treatment of severe disc problems, it is used as an alternative to spinal fusion. Artificial devices replace spinal columns in the lumbar (lower) or cervical (upper) spine. The damaged disc is removed during the procedure, and the area around the bone is cleaned of debris. Post that, the disc is inserted into the available space. The incision is closed until the incision is secure and the neck's soft tissues are in place. Degenerative disc disease causes chronic, extreme low back and cervical pain treated with this treatment. Artificial disc replacement is most common in North America, followed by Europe and the Asia Pacific. Artificial Disc Replacement (ADR) is a significant advancement in spinal surgery. In 1982, Charite, the first disc implant for total disc replacement, was developed in Germany. Also, in 1966, Fernstrom developed and implanted the first cervical artificial disc prototype.

MARKET DRIVERS:

Growing awareness among people regarding the benefits of the disc replacement process over spinal fusion surgeries and the rapid rise in the growth of minimal surgical procedures are majorly promoting the global artificial disc market growth.

The global artificial disc market receives support from technological advancements and an increase in the prevalence of degenerative spine conditions. In addition, growing healthcare expenditure, increasing disposable income, and supportiveness of reimbursement further fuels the market's growth rate. According to CDC, the national healthcare expenditure in the United States was hiked from USD 2659 billion in 2009 to USD 3453 billion in 2019. In addition, technological advancements, the growth in the number of surgeries taking place daily, and the availability of various products further boost the market for artificial discs.

The growing number of patients suffering from degenerative spine diseases propels the artificial disc market. According to NCBI, in a year, an estimated 17000 new spinal cord injury cases are registered in the United States every year. In addition, the increasing understanding of disc replacement benefits over spinal fusion surgeries and the rapid demand for minimal surgical procedures are other primary factors driving the global artificial disc market. Furthermore, technical advances and an increase in the prevalence of degenerative spine disorders drive the artificial disc market. Furthermore, growing healthcare spending, disposable income, and favorable reimbursement policies contribute to the market's rapid expansion. In addition, sports and trauma-related accidents are becoming more common, and the increasing geriatric population is propelling the demand for artificial discs.

Globally, there has been an increase in clinical trials on artificial discs over ACDF (Anterior cervical discectomy and fusion) surgeries. For instance, in November 2016, Spineart SA concluded that Baguera C cervical disc replacement is a safe and effective procedure for treating radiculopathy caused by soft disc herniation or moderate uncarthrosis on levels. As a result, the opportunities for key players in the artificial disc market to obtain regulatory approvals for commercializing these products have dramatically improved because research has shown promising results using these discs. Besides, some artificial discs have been studied in FDA-supervised IDE prospective randomized clinical trials. Thus, several opportunities for industry growth have arisen in recent years due to many new artificial discs in the IDE stage of development.

MARKET RESTRAINTS:

The high cost of the product, strict regulatory requirements, technical challenges faced by surgeons during replacement surgeries, and a lack of uniform reimbursement policies for disc replacements hamper the demand of the artificial disc market. The surgery risks are a big challenge for the market players. 

COVID-19 Impact on the global artificial disc market:

The COVID-19 pandemic outbreak affected every market in some way or another. After the WHO's official announcement, every market observed that the COVID-19 pandemic changed the market's dynamic, trends, and observed requirements. The financial status of the artificial disc market was impacted by COVID-19 during the lockdown days. It is anticipated that the global artificial disc market will regain the loss of the COVID-19 pandemic in the coming days.  

REPORT COVERAGE:

This research report on the global artificial disc market has been segmented and sub-segmented into the following categories:

Artificial Disc Market – By Type:

• Lumbar
• Cervical

The cervical artificial disc segment is expected to have a significant global market share. Cervical disc replacement is a surgical procedure in which a damaged or degenerated disc is removed and replaced with an artificial disc. These discs are the cushions between the bones (vertebrae) of the neck (cervical spine). According to the World Health Organization (WHO), the prevalence of low back pain for life is estimated at 60% -70% in industrialized countries (the one-year prevalence rate is 15% -45%, in adults, the incidence rate of low back pain is 5% annually) and the prevalence rate in children and adolescents is lower than that of adults, but it increases.

Artificial Disc Market – By Material:

• Metal-On-Biopolymer
• Metal-On-Metal

As for materials, the world industry is divided into the metal on biopolymer and metal on metal. However, both materials are supposed to contribute similarly to the world market in the coming years.

Artificial Disc Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America is the largest market for artificial discs, followed by Europe and Asia-Pacific. The North American region is currently dominating the artificial disc market owing to factors such as the presence of a well-established healthcare sector, the high adoption rate of advanced technology, and the increment of orthopedic surgeries. Additionally, the artificial disc market has favorable reimbursement policies in this region. These factors are attributing factors of the North American region in the artificial disc market. Therefore, the United States artificial disc market is foreseen to dominate the North American artificial disc market.

The European artificial disc market accounted for the second-largest artificial disc replacement market share in the global market in 2022. Factors such as the growing healthcare expenditure and the YOY rise in the senior population favor the European region's market. Moreover, the artificial disc market has favorable government regulatory policies in the European region. As a result, Germany represented more than 20% of the European market in 2018 and should record a notable growth rate during the forecast period.

Asia-Pacific is expected to experience the fastest growth due to rapidly developing medical infrastructure, increased spending on preventive care, and increased medical tourism in developing countries like China, Japan, and India. The growth of artificial discs is significantly high in the United States. Compared to other countries due to technology for rapid disease progression, the USA and Mexico have higher prevalence, better health care infrastructure, good economic growth, payments, high insurance, development, and spending of the private health sector, and increased awareness among people training.

Finally, the smallest growth share is attributed to the Middle East and Africa region due to the underdevelopment of the healthcare sector and poor economic conditions. Moreover, the Middle East and African region lack technical knowledge.  

KEY MARKET PLAYERS:

The artificial disc market is moderately competitive and consists of several major players. However, few of the leading players currently dominate the market in terms of market share. Globus Medical, Zimmer Biomet, B. Braun Melsungen, Centinel Spine, LLC, Medtronic Plc, AxioMed LLC, NuVasive Inc., some companies now dominating the market Orthofix Medical Inc, K2M, Inc, RTI Surgical Holdings, Inc and Synergy Disc Replacement Inc.

RECENT HAPPENINGS IN THIS MARKET:

• In January 2018, an acquisition was made between NUVasive Inc. with SafePassage to strengthen its IONM business line.
• In September 2016, Globus Medical Inc. acquired the international operations and distribution channels of Alphatec Holdings, a leading company in the field of medical devices. The acquisition aimed to expand the business's geographic scope and customer base.
• In February 2016, K2M Inc. received CE marking approval for its new generation Rin Cervical Disc System to treat degenerative disc disease. This approval has helped the company strengthen its existing product portfolio and generate more revenue.