Artificial Disc Market projected to grow with significant CAGR over the forecast period

03/mag/2018 06:47:55 sravan Contatta l'autore

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Artificial Disc Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012 to 2016 and Forecast 2017 to 2023

 

Innovation of artificial disc of the spinal cord

Global Artificial Disc Market: The disc is soft cushion situated between vertebrae in the spinal column. The disc is made up of cartilage-like tissue and has an inner and outer portion (annulus) with a nucleus. The discs give much-needed flexibility to the spine for a movement like bending, etc. Artificial discs are used in surgery for synthetic replacements for intervertebral discs present in the lumbar and cervical regions of the spine. Artificial discs surgery is performed mostly on lumbar (lower back) and neck (cervical) spine areas. The artificial discs are designed to mimic the resemblance of the function of the spine’s natural disc.

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The artificial disc replacement market is expected to grow due to factors such as an increase in the number of cases of osteoporosis, rising geriatric population, rise in degenerative diseases, demand of less invasive surgeries and better clinical trials will help boost the global artificial disc replacement market growth. In addition to that, newer innovation in products, increase in R & D activities and more technologies will promote the growth of artificial disc market. In spite of all the positive outcomes, factors such as high procedure cost, expensive devices, unexpected reimbursement policies and strict regulatory policies can cause a major setback to the growth of the artificial disc market.

The global artificial disc market is divided into-

1.       Product type

·         Cervical disc

·         Lumbar disc 

2.      Material type

·         Metal on metal

·         Metal on the biopolymer

3.      End-user

Hospitals, Orthopedic Clinics and ambulatory surgical centers.

 

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And finally divided into five geographical regions- North America, Europe, Latin America, Asia-Pacific and Middle East & Africa. North America is expected to hold the largest share in the artificial disc market due to technological progression, disposable income towards healthcare expenditure can help boost the market revenue growth.  Europe and Asia-Pacific regions are expected to grow due to increase in older population. Some of the key players in the global artificial disc market are NuVasive Inc. (US), Johnson and Johnson Services Inc., (DePuy Synthes) (US), Medtronic (US), Orthovita Inc. (US), LDS Spine (US), etc. are name to few. In 2015, Aesculap was approved by USFDA for activL artificial disc for level one lumbar use.

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The global artificial disc market is still in developing stage. Technological development, collaborations, mergers and new launches are the key strategies followed by the medical device companies to increase their shareholding in the artificial disc market. For instance, in 2013, Zimmer Biotech LDR holdings to launch Mobi-C in the U.S. for cervical discs. Similarly, in 2012, Globus Medical Inc.’s Secure-C was approved by USFDA for the artificial disc replacement surgery.

 

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