The artificial discs market is estimated to be valued at US$ 0.74 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Artificial discs are implantable medical devices used as an alternative to spinal fusion surgery for degenerative disc diseases. They are placed between vertebrae of the spinal column to maintain motion and flexibility in the affected disc area. They aim to restore the space between vertebrae and reduce pain by replacing rather than fusing the damaged disc.

Market Dynamics:

The market is primarily driven by increasing prevalence of degenerative disc diseases globally. According to the Global Burden of Disease Study 2017, low back pain was the single leading cause of disability worldwide. Another major driver is the growing geriatric population which is more susceptible to degenerative disc diseases. For instance, around 20% of people aged above 60 years suffer from lower back pain caused by degenerative disc disorder according to the National Institute of Neurological Disorders and Stroke (NINDS). Additionally, rising adoption of minimally invasive surgeries and technological advancements in artificial disc designs are fueling the market growth. However, high cost of surgeries and lack of awareness about artificial disc replacement therapies in developing nations may hamper market growth.

SWOT Analysis

Strength: Artificial discs offer long-lasting solution for degenerative disc disease patients. They provide more natural motion than fusion surgery and reduce adjacent segment degeneration. Artificial discs allow for motion preservation and reduce strain on nearby discs.

Weakness: High cost of artificial discs compared to fusion surgery poses affordability issues for many patients. There are also concerns regarding long term durability and risks of implant failure or wear debris.

Opportunity: Rising geriatric population suffering from back disorders presents an opportunity for market growth. Increasing awareness about advantages of disc replacement over fusion surgery is encouraging its adoption.

Threats: Stringent regulatory guidelines for approval of artificial discs delay their commercialization. Reimbursement issues in some countries restrict market expansion.

Key Takeaways:

The Global Artificial Discs Market Demand is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing incidence of degenerative disc disease. Adoption of minimally invasive techniques for disc replacement surgeries is driving the market.

Regional analysis: North America dominates the global artificial discs market, owing to growing geriatric population suffering from back disorders in the US and Canada. Asia Pacific exhibits the fastest growth fueled by rising healthcare spending, healthcare reforms and increasing patient pool in China and India.

Key players operating in the Artificial Discs Market are Medtronic, DePuy Synthes, Stryker Corporation, NuVasive Inc., Globus Medical Inc., Orthofix International N.V., Zimmer Biomet Holdings Inc., Alphatec Holdings Inc., B. Braun Melsungen AG, Centinel Spine LLC. The market is concentrated with these major players launching innovative disc designs and expanding to emerging regions through partnerships.

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