The increasing spends on healthcare, helpful reimbursement policies, and growing means among people to splurge on better healthcare are the primary reasons stoking growth in the global Artificial Disc Market. The effectiveness of artificial disc replacements is also bolstering their demand along with the high occurrence of degenerative disc disease and the popularity of non-invasive procedures.
Factors likely to dampen demand in the global market for artificial disc is the dearth of proper reimbursement policies and expensiveness of the procedure and devices. In order to study the global market for artificial disc in-depth, the report segregates it depending upon different parameters and examines each segment to gauge its contribution to the market. Depending upon the type, for example, it splits the market into cervical and lumbar. Among the two, the cervical segment is predicted to hold more than half the market share by the end of 2024. In terms of revenue growth, however, the lumbar segment has managed to outpace the cervical segment up until now.
Material-wise, the global market for artificial discs has been segmented into metal on biopolymer and metal on metal artificial disc. Of the two, the metal on biopolymer segment holds a mammoth share in the market and is a clear winner. Going forward too, the segment will likely retain its dominant position due to its biocompatibility. The metal on metal artificial disc segment is also predicted to clock impressive growth on account of its affordability. The key end-use segments in the market are home care settings, hospitals, and clinics, among others such as nursing homes and ambulatory surgical centers.
From a geographical standpoint, North America outshines all others in the global artificial disc replacement market on account of its significant uptake in the U.S. It is trailed by Europe and Asia Pacific. In the upcoming years, analysts forecast the Asia Pacific market to gain maximum share on account of a phenomenal growth rate brought about by bettering healthcare infrastructure, growing allocation on healthcare, and increasing medical tourism in emerging economies of China and India.
To assess the competition prevailing in the global market for Artificial Disc, the report has profiled important players in the market such as Medtronic, DePuy Synthes, Audubon, Globus Medical, Zimmer Biomet, NuVasive, Inc., Stryker Corporation, and Aesculap Implant Systems.
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