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Press Release: Degenerative Disc Disease Treatment Market to Surpass US$ 3,461.6 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Degenerative disc diseases are very frequent and debilitating disorders, and R&D activities surrounding this disease are highly cost intensive. Hence, many fund raising companies and manufacturers are engaged in raising funds for their research regarding the treatment of degenerative disc diseases.
Depending upon the level of pain, degenerative disc disease can be treated with two common processes which are non-surgical and spinal fusion. Non-surgical treatments include medications, physical therapy and chiropractic care. Whereas, spinal fusion is a procedure used to surgically treat degenerative disc disease.
The degenerative disc disease treatment market is expected to exhibit significant growth over the forecast period. This is owing to technological advancements such as artificial discs. For instance, in 2013, Zimmer Biomet launched Mobi-C, a two-level artificial disc for patients with issues at two consecutive spinal disc. Furthermore, manufacturers are focusing on acquisition strategies to strengthen their product portfolios which is expected to drive global degenerative disc disease treatment market growth. For instance, Centinel Spine in October 2017, entered into an asset purchase agreement to acquire the ProDisc Total Disc Replacement portfolio from DePuy Synthes.
The global degenerative disc disease treatment market size was valued at US$ 1,736.4 million in 2019, and is expected to witness a CAGR of 9.0% over the forecast period (2019 – 2027).
Global Degenerative Disc Disease Treatment Market Share (%) Analysis, By Product Type, 2019
Source: Coherent Market Insights Analysis (2019)
An increasing launch of disc replacement surgical devices is expected to drive growth of the global degenerative disc disease treatment market
Various companies are focusing on launching innovative and technologically advanced products to meet the needs of customers, which is expected to propel the degenerative disc disease treatment market growth over the forecast period. For instance, in March 2019, Atlas Spine Inc. announced the launch of HiJak AC expandable cervical interbody fusion device. The product is expandable cervical interbody fusion device used for the spine fusion surgery. The device offers adjustment to both height and lordosis to easily restore lordosis and balance sagittal alignment of the spinal cord.
Global Degenerative Disc Disease Treatment Market - Restraints
Alternative therapies such as physiotherapy and special exercises are also used for treatment of degenerative disc disease, which is expected to hamper growth of the degenerative disc disease treatment market over the forecast period. For instance, according to data published in the Toronto Physiotherapy Journal in January 2014, physiotherapy is the most preferred first line treatment for degenerative disc disease among the aging population.
Global Degenerative Disc Disease Treatment Market - Regional Insights
On the basis of region, the global degenerative disc disease treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global degenerative disc disease treatment market owing to an increasing number of degenerative disc disease treatments. For instance, in September 2019, DePuy Synthes, a subsidiary of Johnson & Johnson Medical Devices Companies, launched CONDUIT Interbody Platform with EIT Cellular Titanium Technology. The product is designed to mimic natural bone structure and facilitate spinal fusion.
Asia Pacific is the fastest growing region in the global degenerative disc disease treatment market owing to increasing product approvals. For instance, in July 2016, Orthofix International N.V. received regulatory approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) for PHOENIX, a minimally invasive spinal (MIS) fixation system.
Global Degenerative Disc Disease Treatment Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
Source: Coherent Market Insights Analysis (2019)
Global Degenerative Disc Disease Treatment Market - Competitive Landscape
Key players operating in the global degenerative disc disease treatment market include Medtronic Plc., Globus Medical Inc., Johnson & Johnson, Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, RTI Surgical Holdings, Inc., Cousin Biotech, Ulrich Medical USA, Inc., Fresenius Kabi AG and Abbott Laboratories.
Degenerative disc disease is a spinal condition caused by the breakdown of intervertebral discs. The symptoms observed for degenerative disc disease are tingling or numbness in legs or difficulty walking. This disease is diagnosed with physical examination, through X-rays or magnetic resonance imaging (MRI). The degenerative disc disease is most commonly seen in geriatric population and have caused low back pain and neck pain in adults. The common cases of back pain among patients occurs at the lower side of the back. As per American Association of Neurological Surgeons in 2016, 75-85% of the people in the U.S. experience some form of back pain in their life.
Market Dynamics
Increasing prevalence of degenerative disc disease is expected to support the market growth over the forecast period. For instance, according to the National Center for Biotechnology Information report, around 266 million patients worldwide were diagnosed with lumbar degenerative spine disease (DSD) in 2018.
However, high cost associated with degenerative disc disease treatments such as artificial disc replacement and spinal fusion is expected to hamper the market growth in the near future. For instance, the average cost of specific disc replacement surgery procedure ranges between US$ 16,000 to US$ 46,000 in different states of the U.S.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 17market data tables and 28 figures on “Degenerative Disc Disease Treatment” - Global forecast to 2027”
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