Cervical Disc Prosthesis Market Projected To Exhibit Robust CAGR of 12.3% For The Forecast Period From 2022 To 2030

Posted by Neha Bora on September 23rd, 2022

San Francisco, 20 Sep 2022: The Report Cervical Disc Prosthesis Market Size, Share & Trends Analysis Report By Disc Type (M-o-P, M-o-M), By End-use (Orthopedic & Trauma Centers, Hospitals), By Indication (Neck Pain, Myelopathy), By Material, And Segment Forecasts, 2022 - 2030

The global cervical disc prosthesis market size is anticipated to reach USD 0.70 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 12.3% from 2022 to 2030. Key factors driving the market growth include the rising prevalence of degenerative disc disease and the growing demand for minimally-invasive procedures. More back and neck disorders can now be addressed with a minimally invasive surgical procedure due to technical advancements in recent years. Because Minimally Invasive Spine Surgery (MISS) does not require a big incision, it reduces the risk of major injury to the muscles surrounding the spine and allows the doctor to see only the area of the spine where the problem arises.

Owing to these approaches, such as using fewer devices, the surgical field (also known as exposure) is smaller, resulting in less pain and a speedier recovery. These factors are expected to drive the overall market. The cervical disc prosthesis business decreased as a result of the COVID-19 pandemic, notably in 2020. All elective surgeries, including spine surgery, were postponed between March 17 and June 8, 2020, and hospitals were transformed into recognized COVID-19 treatment facilities. As a result, such variables have a detrimental impact on market growth. Many emerging nations’ healthcare reforms are extending treatment access to a larger proportion of their people, which is expected to stimulate the demand for healthcare-related items, particularly spinal surgery products.

Increasing economic affluence in major developing regions would boost the demand for such products, resulting in market expansion. Due to the growing geriatric population and greater success rate for cervical disc replacements, North America is anticipated to account for a sizable portion of the market. In the U.S., almost 80 million adults have lower back pain at some point in their lives, according to the National Institute of Neurological Disorders and Stroke. One of the most frequent excuses for missing work in the U.S. is back pain. Every year, back pain symptoms are reported by 50% of Americans who are employed. A significant portion of the expansion of the regional market as a whole is also being driven by the rising healthcare spending and the presence of established healthcare infrastructure.

Access Research Report of Cervical Disc Prosthesis Market https://www.grandviewresearch.com/industry-analysis/cervical-disc-prosthesis-market-report

Cervical Disc Prosthesis Market Report Highlights

  • An increasing number of trauma-related and sports-related injuries and orthopedic surgeries is expected to boost the market growth
  • The Metal-On-Polymer (M-o-P) disc type segment dominated the market in 2021 owing to an increase in the overall success rate of metal-polymer artificial disc replacement operations
  • The cobalt material segment held the largest share of the market in 2021 and is also expected to register the fastest CAGR over the forecast period
  • This growth is owing to their excellent biocompatibility and corrosion resistance, CoCr alloys have little danger of irritability, allergic reaction, or immunological response, which is expected to propel the growth of this segment
  • The hospitals' segment held the largest market share in 2021. The hospital segment will be driven by technologically sophisticated implants that are available in hospitals for treating and diagnosing cervical spine problems
  • Another factor driving the market is the rising demand for prostheses for patients with myelopathy, radiculopathy, and severe neck discomfort

List of Key Players in the Cervical Disc Prosthesis Market

  • Medtronic, Plc.
  • Depuy Synthes (Johnson & Johnson Inc.)
  • Stryker Corp.
  • Zimmer Biomet Holdings, Inc.
  • Globus Medical, Inc.
  • NuVasive, Inc.
  • Orthofix Medical Inc.
  • Olympus Corp.
  • Centinel Spine, Inc.
  • Axiomed Spine Corp.

Access Press Release of Cervical Disc Prosthesis Market @ https://www.grandviewresearch.com/press-release/global-cervical-disc-prosthesis-market

 

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Neha Bora

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Neha Bora
Joined: September 16th, 2019
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