Artificial Disc Market size is projected to surpass USD 2.2 billion by 2032, according to a new research report by Global Market Insights Inc.
Rapid innovations as well as sophistication of technologies in medical devices will complement the artificial disc industry outlook. Recent breakthroughs in orthopaedic care and the management of spinal intervertebral disc degeneration along with extensive R&D activities to determine the potential of biomimetic artificial intervertebral discs (IVD), AI, and cell-based therapies for IVD regeneration will positively influence the product progression.
However, the lack of reimbursement pertaining to artificial disc replacement procedures and surgeries could restrain the artificial disc market growth. Majority of the insurance companies have recognized artificial disc replacement procedures as not-well-proven surgical methods. Nonetheless, the increasing number of clinical trials demonstrating the effectiveness of these procedures is expected to improve the reimbursement scenario.
Rising burden of lumbar degenerative disc diseases to foster value for lumbar artificial discs
Artificial disc industry size from lumbar artificial discs is projected to expand at over 2.5% CAGR by 2032. The growing demand for lumbar artificial discs can be attributed to the high prevalence of spinal disc degeneration due to the increasing geriatric population and the rapid adoption of sedentary lifestyles. Lumbar-total disc replacement (L-TDR) has emerged as a promising technology for the treatment of severe back pain caused by degenerated discs. The increasing incidences of lumbar degenerative disc diseases are further expected to fuel the Scaling for lumbar artificial discs.
Browse key industry insights spread across 320 pages with 353 market data tables & 20 figures & charts from the report, “Artificial Disc Market Size By Type (Cervical Artificial Disc, Lumbar Artificial Disc), By Material (Metal-on-metal, Metal-on-polymer), Indication (Spinal Trauma, Degenerative Spine Disease), End-use (Hospitals, Specialty Clinic, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:
Influx of new polymeric biomaterial to boost the development of metal-on-polymer artificial discs
Artificial disc market share from metal-on-polymer material segment reached USD 1 billion in 2022. Several metal-on-polymer products are extensively used in orthopedic care as they offer greater flexibility of the spine, easy insertion, a high degree of rotation, and improved biocompatibility. The ongoing innovations in the field of polymer metal composites for the development of artificial muscles and implants is enabling healthcare providers and industry players to facilitate novel discs.
Titanium implants have gained significant momentum in recent years owing to the recent breakthroughs in polymeric biomaterials, and 3D printing of polymer-metal composite implants, adding to the market gains.
Surge in spinal cord trauma injuries to accelerate the adoption for artificial discs
Artificial disc market size from spinal trauma is anticipated to exhibit a 2.8% CAGR from 2023-2032. The rising incidences of road accidents and sports injuries are expected to fuel the landscape for artificial discs. The growing efforts to improve spinal care will, thus, boost the number of artificial disc replacements for spinal trauma management. For instance, in March 2022, the American College of Surgeons Trauma Quality Programs (ACS TQP) revealed new guidelines for trauma centers to effectively manage patients with spinal injuries.
Hefty investments to promote artificial disc demand in hospitals
Hospitals accounted for more than 35% share of the artificial disc market in 2022. High patient preference towards hospitals for healthcare services can be attributed to the easy accessibility and availability of advanced medical devices and expert professionals. With the emergence of novel diseases and the surging hospitalization rates, several governments are investing heavily in strengthening the healthcare infrastructure.
For instance, as per the 2022-2023 Budget, the Government of Saskatchewan pledged $156.6 million in healthcare with over USD 57 million for the maintenance of healthcare facilities, and USD 53.9 million for new hospitals and care centers.
Favorable government funding to influence Europe artificial disc industry expansion
Europe artificial disc market size is poised to surpass USD 450 million by the end of 2032, powered by the ongoing industrialization, and the presence of a well-established healthcare infrastructure. The large patient pool of musculoskeletal disorders, the increasing geriatric population, and the growing penetration of next-generation technologies will aid in industry progress across Europe.
Moreover, the extensive R&D initiatives focusing on innovation in graphene-based implants to treat spinal cord injuries and favorable public funding will promote industry revenue. For instance, in November 2022, the European Innovation Council (EIC) granted USD 4 million to the medical tech company, ONWARD, to boost innovation in brain-computer interface (BCI) technology for patients with spinal cord injuries.
New mergers to boost artificial disc industry development
AxioMed LLC, KM Inc., Medtronic PLC, NuVasive Inc., Orthofix International NV, Paradigm Spine LLC, Simplify Medical Inc., Spineart SA, Stryker, Synergy Disc Replacement Inc., and Zimmer Biomet are some of the leading companies in the global artificial disc market.
Explore More on Related Topics: