The North American artificial disc replacement market will likely double by 2023, according to GlobalData analysis.
Here are seven observations:
1. Valued at $274.6 million in 2016, analysts expect the market to jump to $614.5 million by 2023.
2. This increase reflects a 12.2 percent compound annual growth rate between 2016 and 2023.
3. The increasing number of degenerative spinal conditions as well as artificial disc replacement procedures' advantages over traditional spinal fusions will boost market growth.
4. Some artificial disc replacement procedure benefits include motion preservation and decreased reoperation risk.
5. Of non-fusion procedures performed globally, cervical disc replacements are the most common. The approval of cervical systems for multi-level indications will also expand the market.
6. Lumbar artificial disc replacement systems have not seen the same market adoption as cervical systems, due to a lack of clinical evidence and a more complicated implantation procedure.
7. Dominant market players include DePuy Synthes, Medtronic, Globus Medical and Zimmer Biomet.