Increasing incidence of spinal disorders and increasing awareness among patients about disc replacement are expected to drive growth of the lumbar disc replacement device market. Continuous improvement in surgical procedure and advantages of minimally invasive surgery procedures have significantly contributed to the growing demand for spine surgeries that is responsible for boosting growth of the lumbar disc replacement device market. Lumbar disc replacement is a type of spine surgery that involves replacement of a damaged or degenerated disc of spine with an artificial lumbar disc replacement device in the lumbar region. Moreover, lower back pain is a major health issue across the world and it is one of the major cause of disability in human being. Lower back pain may be acute, sub-acute or chronic type. Most of the risk factors associated with back pain include occupational posture, obesity, and age. Moreover, changing lifestyle, high work load, and lack of exercise are some of the common factors that are responsible for lower back pain.
Furthermore, increasing prevalence of lower back pain is expected to boost growth of the lumbar disc replacement device market. For instance, according to the Spinal Cord Injury report data, in 2019, it was estimated that incidence of spinal cord injury (SCI) was around 54 cases per 1 million population in the U.S in 2019. In the same year the prevalence of SCI was estimated to be around 291,000 number of patients in the U.S.
|Base Year:||2019||Market Size in 2019:||USD 740.3 Mn|
|Historical Data for:||2016 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||13.5%||2027 Value Projection:||USD 2,044.8 Mn|
AxioMed, Medtronic Plc, B.Braun Melsungen, Stryker Corporation, DePuy Synthes, NuVasive Inc., Paradigm Spine LLC, and Zimmer Biomet.
|Restraints & Challenges:||
Lumbar Disc Replacement Device Market - Impact of Coronavirus (Covid-19) Pandemic
The spread of coronavirus is negatively impacting the sales of lumbar disc replacement device market which are majorly used for spine surgeries as many surgeries were cancelled due to COVID-19 pandemic. As of July 2020, in some areas, non-essential orthopedic procedures are now resuming. During the pandemic at its peak in March 2020, the hospitals in Italy that were conducting essential lumbar disc replacement surgery were taking extra safety measures to ensure the safety of patients, doctors and other hospital staff. The patients were tested during the admission and were retested before the surgery.
The global lumbar disc replacement device market is estimated to be valued at US$ 740.3 million in 2020, and is expected to exhibit a CAGR of 13.5% over the forecast period (2020-2027).
Figure 1. Global Lumbar Disc Replacement Device Market Share (%) Analysis, By Material, 2020
Lumbar Disc Replacement Device Market - Regional Insights
On the basis of region, the global lumbar disc replacement device market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be the most lucrative region for growth of the lumbar disc replacement device market over the forecast period due to expansion that covers multiple indication use for lumbar disc devices in the U.S. For instance, in 2019, Centinel Spine, LLC received additional expanded coverage from North American Spine Society (NASS) to use its prodisc L lumbar artificial disc in clinical indication of lumbar levels L3 to L4. This expansion helps surgeons to provide broader spectrum of treatment options to spinal injury patients.
Asia Pacific lumbar disc replacement device market growth is attributed to increasing awareness about advanced spine surgeries among the healthcare professionals. Medical conferences conducted on spine surgical techniques in this region that provides platform for researcher, companies, and surgeons to share their insights about techniques of spinal surgeries. For instance, in 2019, the Philippine Spine Society (PSS) and Philippine General Hospital (PGH) organized 5th Association of Southeast Asian Nations (ASEAN) Minimally Invasive Spine Surgical Techniques (MISST) conference, which was held in Manila Hotel, Manila, National Capital Reg, Philippines. The conference was focused on application of minimally invasive techniques in the area of cervical, thoracic, and lumbosacral spine surgeries.
Figure 2. Global Lumbar Disc Replacement Device Market, Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027
Global Lumbar Disc Replacement Device Market - Competitive Landscape
Major players operating in the global lumbar disc replacement device market include AxioMed, Medtronic, B.Braun Melsungen, Stryker Corporation, DePuy Synthes, NuVasive Inc., Paradigm Spine LLC, and Zimmer Biomet.
The lumbar disc replacement is a surgical procedure performed in patients with lower back pain. In this procedure the damaged disc material between the small bones in the spine (vertebrae) is removed and replaced with a synthetic or artificial disk at the lumbar region. Lumbar disc replacement is surgical alternative for fusion surgery for the treatment of lumbar degenerative disc disease. According to NCBI (National Center for Biotechnology Information) data, long term satisfactory results of lumbar disc replacement is registered in the U.S. Even though the implantation rate of lumbar disc replacement is not increased in the last decade. The major challenges of lumbar disc replacement are includes surgical techniques and fear among patient for of late spinal complications over the time period. According to the same data source, the total cost of low-back pain in the U.S exceed to US$100 billion per year. Such high expenditure on low back pain is expected to provide huge market opportunities for key players operating in the market.
High Incidence of spinal cord injuries is expected to drive growth of lumbar disc replacement device market.
The growth of this market is attributed to high incidence of spinal cord injuries across the world. This can due to increasing incidence of road accidents. For instance, according to the Tokyo’s Keio University’s February 2019 publication, over 100,000 patients in Japan were paralyzed due to spinal cord injuries. Moreover, according to NCBI, in 2015, incidence of spinal cord injuries is 12,500 annually and around 288,500 people are currently living with SCI (spinal cord injuries) in the U.S. Thus, high number of spinal damage population is a major factor that is expected to drive growth of the lumbar disc replacement device market.
Increasing advancements in products and ongoing research by companies is expected to drive growth of this market. For instance, Aesculap, Inc. offers product named as activL Artificial Disc. This is an ultra-high molecular weight lumbar disc device made up of polyethylene that allows translational, combines natural motion with mechanical stability, and rotational movement. Thus, such advanced product offerings by the key players are expected to drive growth of the market.
Furthermore, many companies have developed artificial lumbar disc devices but have not received the U.S. FDA approval till January 2020. Some of the key players who are waiting for the U.S. FDA approval include Ranier Technology Ltd, Stryker Corporation, AxioMed LLC, Spinalmotion Inc., Medtronic Inc., and NuVasive, Inc.
However, lack of reimbursement for such devices is a major factor that is expected to hamper growth of the market. In the U.S the health insurance companies are not covering the lumbar disc devices in their health insurance plan.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.