Global Artificial Disk Replacement Market By Material Type (Metal + Plastic and Metal), By Indication (Lumbar Disc Replacement and Cervical Disc Replacement), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Artificial Disc Replacement Market Overview:

The global Artificial Disk Replacement market was valued at USD 502.8 million in 2021. This growth rate will be at a CAGR of 11.2%, between 2023-2032.

This is a medical procedure that can treat pain. Artificial discs were created to replace the degeneration in the intervertebral Discs. Artificial disc replacement can also relieve back pain and maintain spinal mobility. These factors have been used to boost the market and are the main medical procedure for treating back pain. Further, this is a context in which it was found that spine mobility has been maintained by aggressive strategies to improve back pain management.

Global Artificial Disk Replacement Market Analysis:

Material Type Analysis

The segment of metal + plastic material accounted for 67% of the total revenue in 2021. Most cervical total disc replacement devices that have been FDA approved in the U.S. today include metal alloy-based inferior or superior prosthetic endplates. They are attached to a central medical-grade core. The overall success rate of metal + plastic artificial disc replacement procedures is high which drives the market growth.

However, the metal sector is expected to see the fastest CAGR of 12.5% during the forecast period. This growth can be attributed to the increasing number of research activities within this segment due to metals’ potential to remove long-term wear, as opposed to metal + plastic materials. Despite the huge potential in this market, the metal segment holds the second-largest share of the market due to product recalls.

Indication Analysis

In 2021, cervical disc replacement contributed a significant revenue share. It is projected to maintain its dominant position and grow at an annual CAGR of over 11.8% from 2023-2032. These key factors include an increase in disc degeneration cases in the cervical discs compared to the discs in the lumbar. It is also expected that the segment will grow due to the availability of many products for artificial cervical disk replacement. Lumbar disc replacement procedures don’t require bone fusion. This will lead to a shorter recovery period, which is expected positively to impact market growth. Research in the area and technological advancements are expected to increase the market’s growth over the forecast period.

Key Market Segments:

By Material Type

• Metal + Plastic
• Metal

By Indication

• Lumbar Disc Replacement
• Cervical Disc Replacement

Market Dynamics:

Market growth is expected to be boosted by an increasing number of sports and trauma injuries as well as orthopedic surgeries. According to the NFL Physicians Society, there are approximately 1.5 million football-related injuries each year. A combination of technological advances and a growing global geriatric population is expected to drive the market. With low sales and demand, the COVID-19 epidemic adversely affected the global market. The market’s growth has been negatively affected by the significant decrease in procedural volumes due to the pandemic.

NuVasive Inc. reported that its net sales for the segment spinal hardware suffered a decrease of 9% and that its spinal hardware volume experienced a decrease of 6%. The biggest impact on the market was due to the postponement and cancellation of elective surgeries that were delayed or canceled during the pandemic. In addition, many hospitals and specialty centers were transformed into COVID-19 treatment centers, which further reduced the number.

Between 17 March 2020 to 8 June 2020, all elective procedures, including spinal surgery, were delayed and the hospital was transformed into a COVID-19-designated treatment facility. Market growth is being negatively affected by such factors. The demand for healthcare products is expected to rise due to the expansion of access to care in many emerging markets. The market will grow because of the growing economic power in key regions. Artificial disc replacement procedures are performed for patients who suffer from back pain caused by degenerated discs. According to the American Chiropractic Association, back pain is experienced by 82% of Americans at least once in their lives. The American Chiropractic Association stated that low back pain results in an annual healthcare bill of approximately US$ 55 million. Market growth will also be supported by the increasing geriatric, or target population, who are more prone to back problems.

Regional Analysis:

North America had a 50% revenue share in 2021. North America is home to key players and hospitals that are technologically advanced in both the U.S., and Canada. This accounts for a large portion of North America. Europe had the second-largest market share due to its high aging population, the prevalence of spine disorders, and increasing demand for disc replacement surgery.

The most common of these was hip implant surgery, endoscopic and spinal surgeries, as well as intestinal, spinal, and endoscopic surgeries. This helped to increase the region’s market share. The Asia Pacific is expected to grow at a faster rate than 12% in the forecast period. This is due to the increasing demand for minimally-invasive procedures and investments made by companies to increase their regional presence. The Middle East and Africa have a poor healthcare sector, which is why they will likely account for the lowest market share.

Key Regions and Countries covered in thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The global market is extremely competitive. Market players are involved in strategic initiatives like product development & launches and expansion of the distribution network. They also have global footprints through subsidiaries and partnerships. Key players also participate in portfolio diversification, mergers & acquisition. Orthhofix Medical Inc. joined forces with Neo Medical SA, a private Swiss-based medical device firm, to develop novel products for spinal surgery. Market growth is being fueled by such developments by important companies.

Маrkеt Кеу Рlауеrѕ:

• Medtronic Plc
• Globus Medical
• Orthofix Medical Inc.
• NuVasive Inc.
• Aesculap Inc.
• SpineArt SA
• Zimmer Biomet
• AxioMed LLC
• Other Key Players

For the Artificial Disc Replacement Market research study, the following years have been considered to estimate the market size: