The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.Read More
Asia Pacific Artificial Disc Market to Record CAGR of 20.3% to 2026
Published Date: 2020-02-24
Request a sample
According to the Graphical Research new growth forecast report titled “Asia Pacific Artificial Disc Market Size By Type, Material Industry Analysis Report, Regional Outlook”, Estimated To Exceed USD 0.8 Billion By 2026. Increasing prevalence of osteoporosis, compression fractures, bone disorders and vertebral fractures will act as one of the key drivers boosting the Asia Pacific artificial disc market expansion over the forthcoming years. According to the International Osteoporosis Foundation (IOF), around 70 million people in China suffer from osteoporosis every year. The increasing need for various orthopedic and musculoskeletal surgeries will positively impact the regional artificial disc demand.
Moreover, most of the Asian countries show lower calcium intake of around 450 mg/day as compared to WHO & FAO standards of 1,000-13,000 mg/day. The lower calcium level has detrimental impact on bone health in Asian countries, thus, increasing the adoption of artificial disc replacement procedures. Furthermore, technological upgradations in the disc replacement industry will increase the demand for advanced artificial discs that facilitate easy and overall movement. The presence of well-developed orthopedic surgery facilities in Asia Pacific to ensure better patient outcomes will further foster the regional industry expansion.
However, risks associated with the artificial discs such as implant degradation, paralysis and complications related to pregnancy resulting in miscarriage and birth defects may restrain the Asia Pacific artificial disc market growth during the forecast period.
Lumbar artificial disc segment was valued over USD 70 million in 2019 and is estimated to witness significant growth over the analysis timeframe. Lumbar disc replacement procedure involves replacement of disc in the lower back with an artificial disc made up of metal or plastic. The lumbar disc replacement is a surgical alternative to spinal fusion surgery. The surgery results into reduced lower back pain caused due to degenerative disc disease. Surge in the number of lumbar degenerative disc (LDD) cases will thus, increase patient preference towards lumbar artificial disc replacement surgeries to ensure improved clinical outcomes.
Metal-on-metal segment held substantial revenue share in 2019 and is projected to witness around 18.5% CAGR over the forecast timeline. The metal-on-metal implants are made up of stainless steel, titanium, cobalt-chrome alloys, polyethylene, polyurethanes and ceramic composites. Benefit of these biomaterials including biocompatibility, durability and resistance to corrosion will favor its adoption. Relatively low prices and high durability of metal-on-metal implants will enhance its demand in emerging economies, thereby, augmenting the business growth.
India artificial disc market is poised to exceed USD 145 million by 2026. The growing burden of orthopedic diseases in the region coupled with rising cases of road accidents leading to chronic fractures will augment the regional market progress. For instance, according to Economic Times, India ranks 1st in the number of road accidents claiming around 1.5 lakhs lives in 2018. Additionally, adoption of sedentary lifestyle and increasing geriatric population in the country will prove beneficial for the artificial disc market growth.
Few prominent players operating in the Asia Pacific artificial disc market include Globus Medical, Orthofix, Zimmer Biomet, Medtronic, B. Braun Melsungen and Synergy Disc Replacement among others. These market players focus on various organic and inorganic strategies such as acquisitions, mergers and collaborations to maintain their market position. For instance, in March 2015, Synergy Disc Replacement expanded its business in Europe, Asia Pacific and other regions to increase its distribution network and strengthen geographical reach.
Asia Pacific artificial disc market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:
Asia Pacific Artificial Disc Market Share, By Type, 2020-2026 (USD Million)
- Cervical artificial disc
- Lumbar artificial disc
Asia Pacific Artificial Disc Market Size, By Material, 2020-2026 (USD Million)
The above information is provided for the following region and countries:
- Asia Pacific
- South Korea