Artificial Cervical Disc Market

Report Scope & Overview:

The Artificial Cervical Disc Market Size was valued at USD 2.95 billion in 2022, and is expected to reach USD 11.47 billion by 2030 and grow at a CAGR of 18.5% over the forecast period 2023-2030.

An artificial cervical disc is a type of medical device used during disc replacement surgery to take the place of a natural disc in the neck. It is a new surgery that takes the place of a spinal disc that has been injured or become ill. These treatments will aid in removing disc degeneration-related discomfort while preserving mobility and functionality.

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The development of hospital infrastructure around the world is a major market driver for prosthetic cervical discs. Because of the superior care and knowledgeable medical staff, hospitals draw a large number of patients.

 As a result of the need for treatment right away, ambulatory surgical centers are in greater demand. The patient receives immediate care at these facilities, and they are then released the next day. Due to the fact they do not require overnight or extended stays, such operations are efficient and cost-effective. A growing number of medical professionals, including doctors, surgeons, and clinicians, have shown a preference for metal implants. Tantalum, tantalum, zirconium alloys, cobalt-nickel-chromium-molybdenum, and chromium-cobalt-molybdenum are a few of the often-used metal implants in artificial cervical disc procedures. Because they have better corrosion resistance than metal-on-biopolymers and are significantly less expensive, metal-on-metal materials are favored.

MARKET DYNAMICS

DRIVERS

• Increased incidence of degenerative spine diseases worldwide

• Ageing of the population in both developed and developing countries' economies

• Increased Awareness among People

Patients and healthcare providers are becoming more informed and knowledgeable about the existence and advantages of artificial cervical discs. As awareness grows, more people are recognizing the potential benefits of these medical devices in treating cervical spine issues. This increased understanding and recognition have played a significant role in driving the expansion of the market for artificial cervical discs. As more individuals and healthcare professionals embrace this innovative solution, the demand for and utilization of artificial cervical discs have increased, leading to a broader market presence and potential for growth.

RESTRAINTS

• High price of the item

• inconsistent reimbursement procedures

The lack of uniformity or consistency in the policies and criteria that determine how healthcare providers are reimbursed for medical services or treatments. This inconsistency can arise from differences in guidelines, coverage decisions, and payment rates across various healthcare systems, insurance companies, or government programs. Medical providers may encounter challenges in receiving fair compensation for the services they render, and patients might face disparities in access to certain treatments or interventions based on the reimbursement policies in place. This issue underscores the importance of establishing transparent and standardized reimbursement procedures to ensure equitable and efficient healthcare delivery.

OPPORTUNITIES

• Increased number of artificial disc clinical studies

• More clinical tests using artificial discs are being conducted.

Growing focus on conducting research and studies involving artificial discs, particularly within the medical and scientific communities. These tests aim to evaluate the effectiveness, safety, and potential benefits of artificial discs in various medical applications, such as spinal surgeries. The increase in clinical tests reflects a commitment to further understanding the performance and outcomes associated with artificial discs, which can ultimately lead to advancements in medical treatments and improved patient care.

CHALLENGES

• A major obstacle for market players is the risk associated with surgical and medical procedures.

• Artificial Cervical Disc Market Overview

Offering a dynamic solution for individuals with cervical spine concerns. The market is driven by a rising demand for motion-preserving alternatives, aided by technological advancements and a growing aging population. While challenges like regulatory processes and cost considerations exist, my potential to enhance patient well-being and maintain spinal mobility positions me as a promising choice in the evolving landscape of spinal healthcare.

IMPACT OF COVID-19

People all across the world have been impacted by the pandemic, which has forced the closure of operational facilities everywhere. During the lockdown period, the healthcare sector experienced situations that were unprecedented. The closure of the manufacturing facilities had an impact on the creation of medical supplies and other equipment. Additionally, the supply chain for medical supplies was impacted, which increased the inventory of manufactured goods in warehouses. Additionally, the closing of the operating facility put a strain on the doctors and surgeons who ran their own clinics.

Consequences of the COVID-19 pandemic include the potential delay of disc replacement surgeries due to a number of factors, including the reallocation of hospital resources, such as nursing staff and ICU beds, to care for patients with the coronavirus and the cancellation of elective surgery to reduce the risk of disease spread.

IMPACT OF RUSSIAN UKRAINE WAR

The Russia-Ukraine conflict may interrupt supply chains, resulting in component shortages for Artificial Cervical Discs, Patient demand for Artificial Cervical Disc operations may be reduced as a result of economic uncertainties. New product introductions may be hampered by regulatory delays. Because healthcare organisations depend on common raw materials, medical supply prices may grow. Russia generates 17% of the world's natural gas and 12% of its oil. Production disruptions are expected, which might have a direct impact on the global supply chain and plastics pricing. Because of geopolitical uncertainty, investment in research and development may decline. Investor confidence and healthcare spending on Artificial Cervical Discs procedures could be impacted by global market volatility.. The burden on healthcare infrastructure may limit the capacity for elective Artificial Cervical Discs procedures. During a crisis, public awareness and education regarding ACDs may decline. Long-term changes in healthcare policies and financing priorities following the conflict may have an impact on the Artificial Cervical Discs market.

IMPACT OF ONGOING RECESSION

Recession can have a considerable impact on the Artificial Cervical Disc market. Economic downturns frequently result in decreased healthcare spending and consumer uncertainty, which may result in a decline in elective medical operations like as recession can have a considerable impact on the Artificial Cervical Disc market. Economic downturns frequently result in decreased healthcare spending and consumer uncertainty, which may result in a decline in elective medical operations like as surgery. Due to financial worries, patients may postpone non-urgent procedures, reducing demand for ACDs, Revenue is expected to fall by 41% in 2022.

Hospitals and healthcare facilities may suffer resource constraints, restricting their ability to undertake Artificial Cervical Disc procedures. Due to funding constraints, research and development efforts in ACD technology may be reduced. The revival of the market following the recession would be dependent on the restoration of consumer confidence, healthcare spending, and investments in medical innovation. surgery. Due to financial worries, patients may postpone non-urgent procedures, reducing demand for ACDs. The revival of the market following the recession would be dependent on the restoration of consumer confidence, healthcare spending, and investments in medical innovation.

By Product Type

Cervical disc: The segment of artificial cervical discs that makes up the cervical disc currently accounts for a sizeable portion of the market for artificial cervical discs, and it is anticipated that this trend will continue over the course of the forecast period due to the increasing prevalence of degenerative disc disease and the rising demand for minimally invasive procedures.

Lumbar disc: The demand for lumbar total disc replacement (LTDR) procedures will increase due to the rapidly expanding geriatric patient pool suffering from orthopaedic diseases and low back pain among the geriatric population and the rising prevalence of low back pain, which will boost the lumbar disc segment growth.

By Material

Metal-on-metal construction: During the projected period, a sizable amount of revenue is estimated to be generated by the artificial cervical disc market sector. A growing number of medical professionals, including doctors, surgeons, and clinicians, have shown a preference for metal implants. Tantalum, tantalum, zirconium alloys, cobalt-nickel-chromium-molybdenum, and chromium-cobalt-molybdenum are a few of the often-used metal implants in artificial cervical disc procedures. Because they have better corrosion resistance than metal-on-biopolymers and are significantly less expensive, metal-on-metal materials are favored.

Due to their benefits, such as higher biocompatibility, large degrees of rotation, and flexible movement of the spine and insertion, industry participants are concentrating on creating metal-on-biopolymer artificial discs. The market for artificial cervical discs will rise more quickly in the next years due to the increasing use of these cutting-edge artificial discs for the treatment of degenerative disc disorders.

By End User

Hospitals: The development of hospital infrastructure around the world is a major market driver for prosthetic cervical discs. Because of the superior care and knowledgeable medical staff, hospitals draw a large number of patients.

Ambulatory Surgical Clinics: As a result of the need for treatment right away, ambulatory surgical centers are in greater demand. The patient receives immediate care at these facilities, and they are then released the next day. Due to the fact that they do not require overnight or extended stays, such operations are efficient and cost-effective.

KEY MARKET SEGMENTS:

By Product Type

• Cervical Disc

• Lumbar Disc

By Material

• Metal-on-metal

• Metal-on-biopolymer

By End User

• Hospitals

• Ambulatory Surgical Centers

• Others

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REGIONAL ANALYSIS

A growing senior population, a higher success rate for artificial disc replacement surgery, and increasing patient awareness of available treatment alternatives are all factors that will contribute to North America holding the highest share of the worldwide artificial disc market.

Due to its quickly expanding medical infrastructure, rising healthcare spending, sizable population, and rising medical tourism in developing countries like Japan, China, and India, the Asia-Pacific region is anticipated to have the quickest development throughout the projection period.

REGIONAL COVERAGE

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

KEY PLAYERS:

Some of the major key players are as follows: Alphatec Spine, Braun Melsungen AG, AxioMed, Centinel Spine, LLC, Aditus Medical, Globus Medical Inc, Johnson & Johnson, Orthofix Company, Medtronic PLC, Nuvasive Inc., Simplify Medical, Zimmer Biomet Holdings Inc. and Other Players

Recent Development-

• In October 2022- Centinel Spine, a prominent global medical device company, announced the ongoing expansion of its pro disc Cervical Total Disc Replacement portfolio.

• In June 2023- GE HealthCare partnered with Johnson & Johnson's DePuy Synthes to expand the reach of GE's OEC 3D Imaging System and DePuy's orthopedic products to US spine surgeons