Total Disc Replacement Market – Analysis And Forecast (2017-2025): Market Shares And Strategies Of Key Players
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. Following are the major key players in the Total Disc Replacement Market:
Stryker Corporation, De Puy Spine, Inc., Smith & Nephew Plc., Medtronic, Globus Medical, Zimmer Biomet, NuVasive, Inc., Alphatec Spine, Inc., Stryker Corporation, and Aesculap Implant Systems are some of the major players in the global total disc replacement market.
Total disc replacement is a type of back/spine surgery that involves replacing a damaged or degenerated disc with an artificial replacement device in the lumbar or cervical region. This surgery involves implanting an artificial disc into the spine to perform similar functions as that of normal disc in the human body. Prostheses aids in maintaining spinal curvature and improving flexibility, while reducing or possibly eliminating pain. Active reconstruction of a degenerative functional spinal unit is a rapidly growing field in the total disc replacement market.
Increasing incidence of spinal disorders and increasing awareness among patients regarding disc replacement is expected to significantly increase growth of the total disc replacement market. The benefits of minimally invasive surgery procedures have significantly contributed to the growing demand for procedures with less tissue disruption of the vertebrae, in turn boosting growth of the total disc replacement market.
The total disc replacement market is mainly driven by growing geriatric population and increasing prevalence of rheumatoid and osteoarthritis across the globe. The market has witnessed high growth, owing to an increased awareness for total disc replacement procedures, advent of sophisticated diagnostic tools and techniques, and rising patient pool. Other conducive factors such as rising healthcare expenditure and growth in spine care surgery centers are projected to drive growth of the market for total disc replacement in foreseeable future.
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However, growth of the global disc replacement market is hindered by reimbursement challenges, and high cost of implants. Additionally, lack of trained healthcare workers, increasing spontaneous fusion of implant over time, limitations in restoring disturbed curvatures, and increasing popularity of intraoperative technology are some of the factors restraining growth of total disc replacement market.
North America holds a dominant position in the market for total disc replacement, followed by Europe and Asia Pacific, respectively. Asia Pacific is projected to be the fastest-growing market, owing to developing medical infrastructure, increased spending on health care, medical literacy, and growing medical tourism in emerging economies such as China and India. In Latin America, the total disc replacement market growth is considerably high in the U.S. and Mexico, as compared to other countries due to advanced technology, highest prevalence of bone-related disorders, robust healthcare infrastructure, good economic conditions, favorable reimbursement scenario, and increased awareness among the populace.
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