A key trend in the global artificial spinal disc market is a boost in merger and acquisition activity.
Here are seven more observations about the market.
1. Based on material, the metal-on-polymer segment captured the largest market share of 82.9 percent in 2017.
2. Cervical discs accounted for 68 percent of the market in 2017.
3. Market drivers include technological advancements, demand for minimally invasive surgery and prevalence of degenerative disc disease. Cost benefits of disc replacement compared to spinal fusion will also spur market growth.
4. Unfavorable reimbursements, costliness of implants and a dearth of trained providers will deter market growth.
5. A market opportunity involves boosting clinical studies on artificial discs compared to anterior cervical discectomy and fusion.
6. The Asia-Pacific region will likely grow at a compound annual growth rate of 20.6 percent through 2024, due to an increasing geriatric population and rising healthcare expenditure, among other factors.
7. Dominant market players include Axiomed, B. Braun Melsungen, Globus Medical, Johnson & Johnson, K2M, Medtronic, NuVasive, Simplify Medical, Spinal Kinetics and Zimmer Biomet.