1 / 5

Artificial Disc Market Set for Prosperity in Future

The number of people above 60 years of age is predicted to grow from 901 million in 2015 to 1.4 billion in 2030, as per the United Nations. One of the most common effects of aging is the decrease in the bone mass, which causes diseases such as osteoporosis or vertebral column deformity. The latter mostly happens due to functional issues in the intervertebral discs, which allow the backbone to bend slightly and absorb shock. In the event of a deformity, the natural discs need to be replaced by artificial ones via surgery, thereby allowing people to regain some degree of forward and backward ben

psmarketresearch2017
Télécharger la présentation

Artificial Disc Market Set for Prosperity in Future

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Artificial Disc Market Revenue To Surpass $3.0 Billion by 2024 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. The global artificial disc market revenue stood at $1.0 billion in 2017, and it is predicted to rise to $3.4 billion by 2024. According to the forecast of the market research company, P&S Intelligence, the market will progress at a CAGR of 18.8% from 2018 to 2024 (forecast period). The rising prevalence of degenerative disc diseases, increasing preference of people for minimal incision surgeries, rapid technological and product innovations, and long-term cost benefits of disc replacement over conventional spinal fusion procedures are the major factors driving the expansion of the market. In spinal fusion procedures, several surgeries are required over a period of time. On the other hand, artificial disc replacement procedures are one-time surgical procedures. As per a study published by researchers working at the Texas Back Institute and the Rothman Institute in the North American Spine Society (NASS) in 2013, the total costs for an average time span of 48 months were lower for patients receiving cervical arthroplasty (artificial disc replacement), nearly $34,000, as compared to the $39,000 which the patients receiving anterior cervical discectomy and fusion (ACDF) had to pay. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/artificial-disc-market/report- sample Besides the above-mentioned factor, the mushrooming population of geriatric people is also positively impacting the progress of the artificial disc market. As per the 2020 World Population Ageing report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. As geriatric people are highly vulnerable to various degenerative disc diseases, their surging population is propelling the requirement for artificial disc replacement procedures. Depending on type, the artificial disc market is divided into lumbar and cervical categories. Of these, the cervical category is predicted to exhibit faster growth in the market during the forecast period. This will be because of the rising prevalence of the cervical disc diseases across the world. When material is taken into consideration, the market is classified into metal-on-polymer and others, such as polymer-on-ceramic, metal-on-ceramic, and metal-on-metal. Out of these, the metal-on-polymer category dominated the market in 2013. This was because of the higher preference for artificial discs made from metal- on-polymer among patients and healthcare professionals, on account of the material’s various advantages. Geographically, North America contributed the highest revenue to the artificial disc market in 2017. Together, Europe and North America are predicted to hold more than 80% of the market shares in 2024. This is credited to the existence of several well-established players, surging geriatric 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. population, and increasing number of surgical procedures in the regional countries. Whereas, the Asia-Pacific (APAC) region is predicted to be the fastest growing region in the artificial disc market in the forthcoming years. This is attributed to the mushrooming geriatric population, soaring healthcare expenditure, and surging investments being made by private and public companies in the healthcare sector in order to cater to the escalating medical requirements of the people in the region. As per the World Population Ageing 2015 report published by the UNDESA, in 2000, 23.3% of the population of Japan was in the age bracket–60 years and above, and this share will rise to 37.3% by 2030. Hence, it can be safely said that the market will grow substantially in the coming years, mainly because of the rising incidence of degenerative disc diseases, surging population of geriatric people, and rapid technological advancements being made in the healthcare sector across the world. The research offers market size of the artificial disc for the period 2014–2024. Market Segmentation by Type Cervical Disc Lumbar Disc Market Segmentation by Material Metal-on-Polymer Others (Metal-on-Metal, Metal-on-Ceramic, and Polymer-on-Ceramic) Market Segmentation by Geography North America Artificial Disc Market • • • • • oBy Type oBy Material oBy Country - U.S. and Canada Europe Artificial Disc Market • oBy Type oBy Material oBy Country - Germany, France, U.K., Italy, Spain, and Rest of Europe Asia-Pacific (APAC) Artificial Disc Market • oBy Type oBy Material oBy Country - Japan, China, India, and Rest of APAC Latin America (LATAM) Artificial Disc Market • oBy Type oBy Material 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. oBy Country - Brazil and Rest of LATAM Middle East & Africa (MEA) Artificial Disc Market • oBy Type oBy Material 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

More Related