Global Artificial Disc Replacement Market by Indication (Lumbar, Cervical), by Material Type (Metal + Plastic, Metal) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global artificial disc replacement market was valued at USD 471.0million in 2020. It is expected to grow at a compound anual growth rate (CAGR of 11.7%) between 2021 and 2028. The market is expected to grow due to an increase in sports injuries, traumas, and orthopedic surgeries. According to the NFL Physicians Society (NFL Physicians Society), approximately 1.2 million football-related injury are sustained each year. Due to technological advances and the growing geriatric population, the market is expected to grow. Global market sales and demand were affected by the COVID-19 pandemic. Market growth was negatively affected by the pandemic, which led to a substantial reduction in procedural volume in 2020.

NuVasive, Inc. reported a 8% decline in net sales in the segment of spinal hardware and a 7% drop in volume. The market's biggest impact was caused by the postponement or cancellation of elective surgery during the pandemic. Many hospitals and specialty centers were also converted into COVID-19 treatment areas, which further decreased the number of procedures. The Hospital for Special Surgery (HSS Spine Care Institute) is an example of a specialist care musculoskeletal treatment centre.

All elective surgery, including spinal surgeries, was postponed between 17 March 2020 - 8 June 2020. The hospital was then converted to a COVID-19 treatment center. These factors have a negative impact on market growth. Many emerging markets have implemented healthcare reforms that increase access to treatment for a larger number of people. This is expected to boost the demand for products related to healthcare, including products for spinal surgery. Market growth will be driven by the increasing economic wealth in key emerging regions.

The artificial disc replacement market has seen a revenue drop of more than 7.0% due to COVID-19

Patients suffering from degenerated discs due to back pain are eligible for artificial disc replacement surgery. According to the American Chiropractic Association (ACA), 80% of people experience back pain at some point in their lives. According to the American Chiropractic Association, low back pain is responsible for approximately USD 50 billion annually in healthcare expenses. Market growth will be supported by the growing geriatric population or target population that is more susceptible to back pain. The Population Reference Bureau projects that the number of Americans 65 and older will nearly double, from 52 million in 2018 up to 95 million by 2060. National Center for Biotechnology Information reports that 65 to 80% of older adults experienced musculoskeletal pain in April 2017. 36 to 70% suffered from back pain. These factors will increase the demand for artificial disk replacement procedures.

Indication Insights

In 2020, the cervical disc replacement segment was responsible for more than half of the total revenue. This segment is expected to continue to hold the dominant position, growing at a CAGR of more than 12% between 2021 and 2028. This share is due to disc degeneration in cervical discs that are more common than lumbar discs. The segment's growth is expected to be aided by the large number of products for artificial cervical disc replacement.

The recovery time for lumbar disc replacements is shorter than other spinal procedures. The segment's growth is expected to be boosted by technological advances and research in this space.

Material Type Insights

In 2020, the metal + plastic segment had a 64% revenue share. Today, the majority of cervical total disc replacement implant designs that are FDA-approved in America include iterations on metal alloy-based superior and inferior prosthetic endplates. These endplates articulate with a central medical grade plastic core. Market growth is also fueled by the high success rate for metal + plastic artificial disc replacement procedures.

The metal segment will, however, be expected to experience the fastest CAGR at 13% over the forecast period. This is due to the increased number of research activities in the segment. Metals have the potential to remove long-term wear better than metal + plastic. Despite the huge opportunities, this segment holds the second largest market share. This is due to product recalls.

Regional Insights

In 2020, North America was responsible for 48% of the total revenue. North America's large market share can be attributed to the presence and technology-equipped hospitals in the U.S.A and Canada. Europe accounted for the second largest market share. This is due to the high aging population in Europe and the prevalence of spinal conditions, which has led to an increase in disc replacement surgeries. According to the Federal Statistical Office, 17. In Germany, 2 million surgeries were performed in 2019.

These surgeries included endoscopic, spine, hip, and intestinal surgeries. This was a major reason for the region's growth. Asia Pacific will be the fastest growing regional market with a CAGR greater than 12% in the next few years. This is due to companies' investments to increase their regional presence as well as the growing demand for minimally invasive procedures. It is expected to hold the lowest market share due to the poor healthcare sector in Africa and the Middle East.

Market Share Insights & Key Companies

Global markets are highly competitive. Market players take strategic initiatives such as product launches and expansion, network expansion, and global footprint via subsidiaries and partnerships. Portfolio diversification and mergers and acquisitions are key activities for key players. NuVasive, Inc. was approved by the U.S. FDA in April 2021 for its Simplify Cervical Artificial Disc, which can be used to replace cervical total discs. Orthhofix Medical, Inc. formed a partnership with Neo Medical SA, an privately held Swiss medical device company, to develop new products related to spinal surgery in September 2020. These developments by major companies are driving market growth. The following are some of the major players in the global artificial disk replacement market:

• Medtronic

• Orthofix Medical Inc.

• Globus Medical

• Aesculap, Inc.

• NuVasive, Inc.

• AxioMed LLC

• Zimmer Biomet

• SpineArt SA

• Synergy Spine Solutions, Inc.

• Centinel Spine

Up Market Research published a new report titled “Artificial Disc Replacement Market research report which is segmented by Indication (Lumbar, Cervical), by Material Type (Metal + Plastic, Metal), By Players/Companies NuVasive, Inc, Zimmer Biomet, Aesculap, AxioMed LLC, Globus Medical, Medtronic, Synergy Spine Solutions Inc, Orthofix Medical Inc, SpineArt SA, Inc, Centinel Spine, among others”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Artificial Disc Replacement Market Report Segments:

The market is segmented by Indication (Lumbar, Cervical), by Material Type (Metal + Plastic, Metal).

Artificial Disc Replacement Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Artificial Disc Replacement Market

Overview of the regional outlook of the Artificial Disc Replacement Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Artificial Disc Replacement Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Artificial Disc Replacement Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Lumbar

                2. Cervical

                1. Metal + Plastic

                2. Metal

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Artificial Disc Replacement Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Artificial Disc Replacement Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.