According to the Graphical Research new growth forecast report titled “North America Artificial Disc Market By Material (Metal-on-metal, Metal-on-biopolymer), By Type (Cervical Artificial Disc, Lumbar Artificial Disc), Industry Analysis Report, Regional Outlook (U.S., Canada), Estimated To Exceed USD 2.9 Bn by 2026.
Rising geriatric population base in the U.S. and Canada will serve to be one of the key factors driving North America artificial disc market growth over the forthcoming years. Elderly population is prone to orthopedic diseases owing to various functional and structural changes in the body. According to the NCBI, half the American population, aged over 50 years is estimated to develop osteoporosis by 2020. Increasing prevalence of osteoporosis and other orthopedic diseases among the elderly population will thus, upsurge the demand for artificial disc replacement during the forecast period.
Growing preference of surgeons and patients towards minimally invasive disc replacement procedures will serve to be another impact rendering factor in the North America artificial disc business growth. These minimally invasive surgeries are organ/tissue specific and involve reduced infection risk and minimal blood loss. The artificial disc replacement procedures reduce muscle damage, and are highly preferred over lumbar decompression and spinal fusion. Moreover, reduced risk of post-surgical complications and less recovery time associated with the disc replacement procedures will spur the regional industry size.
However, uneven reimbursement policies and high cost of implants may hamper the North America artificial disc industry growth in the coming years.
Lumbar artificial disc segment held substantial revenue share in 2019 and is estimated to witness around 18% CAGR over the analysis timeframe. Lumbar artificial disc surgery is an alternative to spinal fusion surgery. The procedure involves replacement of degenerated spinal disc with artificial metal or plastic disc to ensure patient’s motion. Thus, rising adoption of lumbar artificial disc to enable easy movement and reduce recovery time will further augment the segmental growth.
Metal-on-biopolymer was valued over USD 800 million in 2019. Metal-on-biopolymer is highly preferred implant over metal-on-metal as it causes less friction in movement. The segment growth is attributed to benefits of these implants including high degree of movement, better biocompatibility as well as flexible spine movement. Focus of industry players on development of Furthermore, easy insertion of metal-on-biopolymers facilitates both independent and coupled motion, similar to natural cervical spine motion, thereby escalating the product demand.
Canada artificial disc market is estimated to witness around 19.5% CAGR during the forthcoming years. According to the Canadian Chiropractic Association, 85% of the working population suffers from lower back pain as well as age-related disc degeneration. The degenerative disc replacement surgeries ensure restoration of normal spine movement and reduced lower back pain. Growing awareness among people regarding advanced disc replacement procedures and rising healthcare expenditure in the country will prove beneficial for the Canada artificial disc industry growth.
Major market players in North America artificial disc market are DePuy Synthes, Globus Medical, Medtronic, NuVasive and Paradigm Spine among others. These market players are undertaking strategies such as acquisitions and collaborations and product improvisations to sustain market competition. For instance, in April 2016, Stryker Corporation acquired Stanmore Implants Worldwide. The acquisition helped the company with distinguished technologies for effective solutions in orthopedic oncology.
North America artificial disc market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
North America Artificial Disc Market Size, By Material, 2015-2026 (USD Million)
North America Artificial Disc Market Share, By Type, 2015-2026 (USD Million)
- Cervical artificial disc
- Lumbar artificial disc
The above information is provided for the following region and countries: