Global Degenerative Disc Disease Treatment Market, by Product Type (Drugs (Acetaminophen, NSAIDs, Oral Steroids, and Muscle Relaxants), Devices (Cervical Spine, Lumbar Spine, Thoracic Spine and Spinal Fusion), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1,736.4 million in 2019 and is expected to exhibit a CAGR of 9.0% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
The global degenerative disc disease treatment market is expected to witness significant growth over the forecast period, owing to rising funding and clinical trials for degenerative disc disorder treatment. For instance, in August 2018, Spinal Stabilization Technologies announced that they raised US$ 11 million for its lumbar disc replacement device. The company is developing the PerQdisc device to treat degenerative disc disease of the lumbar spine in adults. The company needs US$ 4 million more to complete the ongoing developmental activities of PerQdisc device. The funding was raised from nine unnamed investors.
Furthermore, in February 2018, Simplify Medical Pty Ltd., a manufacturer of the Simplify cervical artificial disc, announced that they received the series B funds from their lead investors LSP Health Economics Fund, MH Carnegie & Co., and Sectoral Asset Management. Series B funds will be used to complete two ongoing U.S. pivotal clinical trials of the Simplify Disc studying its use in one level of the spine and in two adjacent levels of the spine as a treatment for cervical degenerative disc disease and for commercialization outside the U.S.
Browse 17 Market Data Tables and 28 Figures spread through 160 Pages and in-depth TOC on "Global Degenerative Disc Disease Treatment Market, by Product Type (Drugs (Acetaminophen, NSAIDs, Oral steroids, and Muscle Relaxants), Devices (Cervical Spine, Lumbar Spine, Thoracic Spine, and Spinal Fusion), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"
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Increasing funding has led to more clinical trials, which is expected to drive growth of the degenerative disc disease treatment market over the forecast period. For instance, RTI Surgical Holdings, Inc. started a clinical trial in February 2019 for the evaluation of Fortilink TETRAfuse Interbody Fusion Device in patients with degenerative disc disease. This clinical trial’s purpose was to check the safety and efficacy of the device.
This is an observational clinical trial. A total of 150 participants are under observation for this study. This study is being conducted in 20 sites in the U.S. and in Europe. This study is expected to be completed by June 2022.
Key Takeaways of the Global Degenerative Disc Disease Treatment Market: