Artificial discs are an alternative to spinal fusion surgery for individuals with degenerative disc disease. They help preserve motion in the spine and replicate the natural motions of a healthy disc. The need for artificial discs is driven by growing cases of spinal disorders due to sedentary lifestyles and obesity. Artificial discs provide relief from chronic back pain without restricting spinal flexibility. The global Artificial Discs Market is estimated to be valued at US$ 0.86 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of the artificial discs market is the increasing demand for minimally invasive surgeries. Minimally invasive techniques help reduce surgical trauma, blood loss, hospital stay, and recovery time. Advancements in material science and imaging technologies have enabled the development of smaller and more customizable artificial discs that can be implanted using minimal incisions. This has boosted the adoption of minimally invasive artificial disc replacement surgeries. The availability of next-gen discs compatible with minimally invasive techniques will continue fueling the market expansion over the forecast period.
Segment Analysis
Artificial Disc market can be segmented based on material as metallic and polymer. The metallic artificial disc segment currently dominates the market as metallic discs have higher strength and are preferred for treating degenerative disc disease. being stronger metallic artificial discs can bear higher loads for longer durations compared to polymer discs.
Key Takeaways
The Global Artificial Discs Market Demand is expected to witness high growth during the forecast period of 2024 to 2031. The market is projected to reach a size of US$ 0.86 Bn by 2024, growing at a CAGR of 13% during the forecast period.
Regional analysis: The North America region currently accounts for the largest share in the artificial discs market owing to high awareness about disc replacement treatments and supportive reimbursement policies for disc replacement surgeries in countries like the US and Canada. Asia Pacific is expected to be the fastest growing market during the forecast period supported by growing medical tourism in countries like India and China providing affordable disc replacement treatments.
Key players operating in the Artificial Discs market are Sichuan Yongxiang Co. Ltd (Tongwei Co. Ltd), GCL-TECH, DaqoNew Energy Co. Ltd, Wacker Chemie AG, and XinteEnergy Co. Ltd. Sichuan Yongxiang Co. Ltd dominates the market with its wide range of high strength metallic artificial discs used for treating degenerative disc disease.
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Latest released research study on Artificial Discs Market delivers volume and values at regional and company levels considering slowdown due to COVID across the globe.
From a global perspective, the report analyzes historical data and future prospects to represent the total Global Artificial Discs Market size broken down by various segments (type and application) and by highest potential and emerging countries.
Definition: A "disc" is a soft cushioning structure located between the individual bones of the spine that allows motion or carry the load.
Artificial disc replacement technique has been recognized to have better long-term results and a cost-efficient alternative for spinal fusion.
The global market of Artificial discs is expected to witness steady growth owing to the sedentary lifestyle.
The research report also provides insightful information on new trends that are likely to define the progress of these segments over the next few years.
