Artificial Cervical Intervertebral Disk Market

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Artificial Cervical Intervertebral Disk Market

Artificial Cervical Intervertebral Disc Market to Reach USD 8480 million by 2032, driven by the growth in investment in healthcare infrastructure across the globe: Global Insight Services

New York, March 2023: According to a new research study by Global Insight Services (GIS), the global Artificial Cervical Intervertebral Disc market is expected to grow rapidly over the next 10 years to reach a value of more than USD 8480 million by 2032.

The cervical intervertebral disc has the ability to absorb a huge compressive load while providing different types of motion between the bones in the neck. Market players have developed various artificial intervertebral cervical discs which are used to treat cervical disc problems. An artificial cervical disc replaces the movement and cushioning function of the damaged cervical disc.

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Artificial Cervical Intervertebral Disc Market: Key Trends and Drivers

The rising geriatric population is anticipated to boost the growth of the global artificial intervertebral cervical disc market. The aging process affects the cervical spine, neck, shoulders, upper back, and arms. Cervical spondylosis is a term for age-related wear and tear of the spinal disks in the neck. It is a common disease and worsens with age. As per the American Academy of Orthopedic surgeons, ~85% of people with age more than 60 are affected by cervical spondylosis. With age, the vertebral discs, which serve as shock absorbers, gradually dry out and affect the strength. As per the Fact Sheet: Aging in the United States, the number of individuals in aged 65 and older is estimated to reach ~95 million by 2060 from 52 million in 2018, and its share in the total population is anticipated to spike up to 23% from 16%.

Artificial Cervical Intervertebral Disc Market: Restraints and Challenges

All elective procedures, including spine surgeries, were delayed between 17 March 2020 and 8 June 2020, and the hospital was transformed into a recognized COVID-19 treatment facility. As a result, these issues are having a detrimental effect on the market expansion. The demand for healthcare-related items, particularly spinal surgical products, is expected to increase as a result of healthcare reforms that are increasing access to treatments for a larger portion of the populace in many emerging markets. The demand for these products will continue to rise as economic prosperity in important developing regions rises, which will further fuel market expansion.

Artificial Cervical Intervertebral Disc Market Report Findings

https://www.globalinsightservices.com/reports/artificial-cervical-intervertebral-disk-market/

The biopolymer segment is anticipated to dominate the market during the forecast period

Based on the material, it is segmented into biopolymer material, and metal materials. The biopolymer segment is anticipated to dominate the market during the forecast period. The growth is primarily attributed to the biocompatibility and ease of insertion offered by biopolymer material discs. However, the metal material segment is anticipated to register the highest CAGR during the forecast period.

The hospitals segment is anticipated to dominate the market during the forecast period

Based on the end user, it is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment is anticipated to dominate the market during the forecast period. The incidence of sports and active participation in fitness activities owing to the growing focus on healthy living across the globe. Adding to that, as per the National Spinal Cord Injury Statistical Center, diving is the fifth leading cause of severe cervical spinal cord injury. So, the demand for the artificial cervical intervertebral disc is boosting owing to increasing incidences of cervical injuries.

The North America region is accounted to hold the majority of market share during the forecast period

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North America region is accounted to hold the majority of market share during the forecast period. The growth of the region is primarily attributed to the increasing aging population and the rising number of product approvals and developments.

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Competitive Landscape

The major player analyzed in the report are Zimmer Biomet Holdings, Inc., Globus Medical, Inc., Centinel Spine, LLC., Synergy Spine Solutions, Inc., B. Braun Melsugen AG, Aditus Medical, AxioMed LLC, NuVasive, Inc., and Medtronic among others.

Recent Developments

April 2021, NuVasive’s simplify disc received FDA approval for two-level cervical total disc replacement.
November 2019, FDA approved Orthofix’s M6-C Artificial Cervical Disc for Cervical Disc Degeneration treatment. The disc was developed by Spinal Kinetics, a company Orthofix acquired last spring.
March 2018, Orthofix announced agreement to acquire Spinal kinetics.

Artificial Cervical Intervertebral Disc Market Report Coverage

The report offers a comprehensive quantitative as well as qualitative analysis of the current global Artificial Cervical Intervertebral Disc market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
A thorough analysis of market trends and restraints is provided.
Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
The forecasts in this report are made by examining the recent trends along with future Artificial Cervical Intervertebral Disc market potential from 2021 to 2031 in terms of revenue.
Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Artificial Cervical Intervertebral Disc market are also analyzed.
Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Artificial Cervical Intervertebral Disc industry.