Artificial Cervical Disc Market, Opportunities, Top Key Players and Forecast to 2027
Artificial Cervical Disc Market
According to MRFR analysis, the global artificial
cervical disc market is expected to register a CAGR of
~19% from 2021 to 2027 and hold a value of ~USD 6,262.1 million by 2027.
The global artificial cervical disc market is driven by several factors,
such asthe increasing prevalence of orthopedic diseases and degenerative
diseases, technological advancements in artificial discs, and the rise of a
geriatric population in developed and developing economies.
In addition, the artificial cervical disc market is anticipated to grow
during the forecast perioddue to the rising healthcare expenditure, supportive
reimbursement, growing acceptance of implantation, increasing disposable income,
and increasing investments in healthcare infrastructure by the government and
private sectors.
Major Key
Players:
Some of the Artificial Cervical Disc Market Players are Globus Medical Inc
(US), Zimmer Biomet Holdings Inc. (US), B. Braun Melsungen AG (Germany),
Centinel Spine, LLC (Switzerland), Medtronic PLC (Ireland), Nuvasive Inc. (US),
Johnson & Johnson (US), Orthofix Company (US), Alphatec Spine (US),
Simplify Medical (US), AxioMed (US), Aditus Medical (Germany), FH Orthopedics
(France), Medicrea (France), and Spineart (Switzerland)
Segment Analysis
The artificial cervical disc market is segmented on
the basis of artificial cervical disc types, material, end user, and region.
Based on product type, the artificial cervical disc
market is categorized into cervical disc and lumbar disc. The cervical disc
segment held a significant market share in 2020.The rising prevalence of
degenerative disc disease and the growing demand for non-invasive procedures
are the key driving factors of the artificial cervical disc segment.
Based on material, the artificial cervical disc
market is classified into metal-on-metal and metal-on-biopolymer. The
metal-on-metal material segment is expected to attain significant revenue over
the forecast period. Growing preference for metal implants by Numerous
healthcare practitioners, including surgeons, doctors, and clinicians. Moreover,
metal implants requires considerably lower costs than metal-on-biopolymers.
Based on end user, the artificialcervical disc market
can be segmented into hospitals, ambulatory surgical centers, and others. The
hospitals segment was the largest end user segment in 2020 due to the
availability of skilled doctors, high efficacy rate, better treatment, and
advancements in the hospital infrastructure.
In terms of geography, the artificial cervical disc
market has been segmented into North America, Europe, Asia-Pacific, and the
Rest of the World. North America held the largest market share in 2020 due to
the increasing geriatric population, higher success rate of artificial disc
replacement surgery in this region, and growing awareness among the patients
about the availability of various treatment options. Furthermore, Asia-Pacific
is projected to be the fastest-growing regional market during the forecast
period due to factors such as a large customer base, high prevalence of orthopedic diseases, degenerative spine conditions, and improving healthcare
infrastructure.According to the WHO, by 2050, 130 million people will suffer
from osteoarthritis worldwide, of whom 40 million will be severely disabled by
the disease.
Regional Analysis
On a regional basis, North
America is anticipated to dominate theglobal artificial cervical disc market
due tothe major market players involved in R&D activity,a higher
success rate of artificial disc replacements, rising healthcare expenditurein
the region, and improving economy.In addition, the presence of the major giants
in the market involved in merger &acquisition and new product innovation is
another driving the market growth. For instance,in January 2018, Nuvasive Inc.
(US)acquired Safe PassageNeuromonitoring LLC(US)to strengthen its
intraoperative neurophysiological monitoring (IONM) business line.
On the other hand, Europe is
expected to hold the second-largest position in the global artificial cervical
disc market due to investment in healthcare.Technological advancements in
surgical techniques and materials have led to an increased demand for
artificial cervical disc.
Furthermore, artificial cervical
disc replacement in Europe will turn out to be one of the most sought-after
medical procedures by medical tourists. Cost-effective and excellent medical
care offered by the European spine surgeons and increasing investment in the
R&D sector isalso fueling the market growth in this region.
Asia-Pacificis projected to have
the fastest growth, owing to a rapidly developing medical infrastructure,
increasing spending on health care, large population, improving economy, and
growing medical tourism in developing nations such as China, Japan, and India
in this region.
Furthermore, the growth of the
market in theRest of the World is attributed to rapidly improving healthcare
infrastructure, technological development,healthcare management, and hospital
management.Government initiatives for improving the healthcare sector are
another factor boosting the growth of the market in this region.
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