Transparency Market Research Report Added "Artificial Disc Market" to its database.
Albany, NY -- (SBWIRE) -- 07/19/2017 -- Artificial disc replacement is an emerging procedure that replaces the function of a damaged or diseased spinal disc. It is as an alternative to spinal fusion for the surgical treatment of severe disc problems. Herniated disc, bone spurs, spondylosis, or radiculopathy are to relieve pinched nerves causing pain that has been unrelieved by conservative measures. Spinal columns are replaced with artificial devices in the lumbar (lower) or cervical (upper) spine. During the procedure, the damaged disc is removed and the area around the bone is cleaned of any debris. The bone is also filed to make room for the artificial disc. The disc is then inserted into the space. Once secure and the soft tissues of the neck are in place, the incision is closed. The procedure is used to treat chronic, severe low back pain and cervical pain resulting from degenerative disc disease.
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Growing health care expenditure, supportive reimbursements, and increasing disposable income are projected to drive the market in the U.S. High success rate of artificial disc replacements is also spurring market growth. In addition, the prevalence of degenerative disc disease and demand for non-invasive procedures are likely to augment the market. An absence of standardized reimbursement as well as high cost of the procedure and devices are the major restraints of the market.
Based on type, the artificial discs market can be divided into two segments: cervical and lumbar. The cervical segment accounted for over 65% of total revenue by 2024. The lumbar segment drew in with high growth rate million in 2015 as per historical revenue.
In terms of material, the artificial discs market can be segmented into metal on biopolymer and metal on metal artificial disc. The metal on biopolymer segment accounted for over 85% market share in 2015. The segment is expected continue to dominate the market from 2017 to 2025 due to biocompatibility and increasing interest among pharma and medical professionals. The metal on metal artificial disc segment is likely to expand at a high CAGR due to low cost.
Based on end-user, the global artificial disc market can be segmented into hospitals, clinics, home care settings, and others. The others segment comprises facilities such as ambulatory surgical centers, and nursing homes.
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Geographically, North America is the largest market for artificial disc replacement, followed by Europe and Asia Pacific. Asia Pacific is projected to have the fastest growth, owing to a rapidly developing medical infrastructure, increasing spending on health care, and growing medical tourism in developing nations such as China, Japan, and India in this region. Artificial disc replacement growth is significantly high in the U.S. and Mexico compared to other countries due to fast disease progression technology, highest prevalence, better health care infrastructure, good economic growth, high insurance payer, developing and expending private health care sector, and increased awareness among people due to educational background. The global artificial disc market is projected to witness strong by 2025. The U.S. is expected to dominate the artificial disc market till 2025. Germany accounted for over 20% of the market in Europe in 2015, and is estimated to record high growth rate.
Major players in the global artificial disc market include Audubon, Globus Medical, DePuy Synthes, NuVasive, Inc., Zimmer Biomet, Stryker Corporation, Medtronic, and Aesculap Implant Systems.
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