ARTIFICIAL DISCS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Artificial discs are advanced medical devices designed to replace damaged or degenerated spinal discs in patients suffering from chronic back pain. These disc prostheses mimic the natural function of the intervertebral discs, providing stability to the spine while allowing for controlled movement. They are considered as a viable alternative to traditional spinal fusion surgery, which eliminates the need to fuse adjacent vertebrae together.

The global artificial discs market has been witnessing significant growth in recent years, driven by the increasing prevalence of spine disorders and the growing demand for minimally invasive surgical procedures.

Market Dynamics:

The growth of the artificial discs market is primarily driven by factors such as technological advancements in disc prosthesis, rising geriatric population, and the increasing preference for minimally invasive surgical procedures. Furthermore, the growing awareness about the benefits of artificial discs, such as reduced hospital stays, quicker recovery times, and improved patient outcomes, is also contributing to the market growth. Moreover, collaborations between key market players and several organization are also expected to boost the market growth. For instance, on October 18, 2023, DiscGenics, Inc., a privately-held, late-stage clinical, biopharmaceutical company, announced a basic science Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Veterans Affairs (VA), for the development of tissue-engineered artificial discs, which is more cost effective and has lesser side effects.

However, there are certain factors restraining the market growth including high costs associated with artificial disc surgery, limited reimbursement policies, and the availability of alternative treatment options. Additionally, the lack of skilled healthcare professionals proficient in artificial disc surgery poses a challenge to market expansion.

Key Features of the Study:

• This report provides an in-depth analysis of the global artificial discs market including market size (US$ million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue growth opportunities across different segments and represents attractive investment proposition matrices for the market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• The key players operating in the global artificial discs market are profiled based on parameters such as company highlights, product portfolio, key highlights, financial performance, and strategies
• The key companies covered in this study include Medtronic, DePuy Synthes (Johnson & Johnson), Stryker Corporation, NuVasive, Inc., Globus Medical Inc., Orthofix International N.V., Zimmer Biomet Holdings, Inc., Alphatec Holdings, Inc., B. Braun Melsungen AG, and Centinel Spine LLC
• Insights from this report would enable marketers and management authorities of companies to make informed decisions regarding future product launches, product enhancements, market expansion, and marketing tactics.
• The global artificial discs market report caters to various stakeholders in the industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would benefit from decision-making through various strategy matrices used in analyzing the global artificial discs market

Artificial Discs Market Segmentation:

• By Product Type
  • Cervical Artificial Discs
  • Lumbar Artificial Discs
• By Material
  • Metal-on-Metal
  • Metal-on-Biocompatible Plastic
• By End User
  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgery Centers
• By Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
• Top Companies in the Artificial Discs Market:
  • Medtronic
  • DePuy Synthes (Johnson & Johnson)
  • 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