Artificial Disc Market Drivers, Restraints, Opportunities, and Trends in Coming Years

The global artificial disc market generated the revenue of $1.0 billion in 2017, which is expected to reach $3.4 billion by 2024, at a CAGR of 18.8% during the forecast period (2018–2024).
 
 
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CALABASAS, Calif. - June 30, 2020 - PRLog -- 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 bending movement.

From a little over $1.0 billion in 2017, the artificial disc market (https://www.psmarketresearch.com/market-analysis/artificial-disc-market) value is predicted to increase to almost $3.4 billion by 2024, at an 18.8% CAGR during 2018–2024 (forecast period). The number of spinal surgeries, for intervertebral disc replacement, is increasing across the world, due to a rise in the prevalence of degenerative bone diseases. The American Chiropractic Association estimated the number of Americans suffering from back pain at any time at 31 million. Additionally, the Chicago Institute of Neurosurgery and Neuroresearch claimed that around 85% of the American population would show signs of disc degeneration by the age of 50.

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Another reason for the rising popularity of disc replacement is its long-term cost benefits compared to spinal fusion. Though the former procedure has more upfront costs than the latter, it has no requirement for follow up surgeries, unlike spinal fusion. According to a recent study by the Texas Back Institute and Rothman Institute, over a 48-month period, the cost of disc replacement is $5,000 less than spinal fusion. This is making the former more preferred among patients, thereby leading to the growing demand for artificial discs.

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Additionally, cervical total disc replacement (C-TDR) has fared better than anterior cervical discectomy and fusion (ACDF) in surgical trials. LDR Holding Corporation, one of the firms conducting the trials, released the results of a five-year study clinical study, in March 2016, taking into consideration the composite outcome measure for success of the U.S. Food and Drug Administration (FDA). As per the findings, the success rates were 61% for C-TDR and 31% for ACDF. Compared to those who underwent ACDF, those who were treated via C-TDR experienced improvements in their neck disability index (NDI) score.

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Tags:Artificial Disc Market
Industry:Health
Location:Calabasas - California - United States
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