The artificial discs market comprises replacement of damaged discs between vertebrae in the spine with artificial discs. Artificial discs are advantageous as they aim to mimic the natural movement of the spine and preserve the disc space. There has been a growing demand for minimally invasive spinal procedures to reduce recovery time. The increasing prevalence of spinal disorders such as herniated discs and degenerative disc disease along with the rising geriatric population that is prone to developing such conditions has been boosting the artificial discs market.

The artificial discs market size is valued at US$ 740 million in 2023 and is projected to reach US$ 1,130 million by 2030, growing at a CAGR of 6.2% from 2023 to 2030.

Key Takeaways
Key players operating in the artificial discs market are Medtronic, DePuy Synthes (Johnson and Johnson), Stryker Corporation, NuVasive, Inc., Globus Medical Inc., Orthofix International N.V., Zimmer Biomet Holdings, Inc., Alphatec Holdings, Inc., B. Braun Melsungen AG, and Centinel Spine LLC. Medtronic dominates the market with its Prestige LP artificial disc.

Key opportunities in the Artificial Discs Market Demand include the increasing popularity of minimally invasive spine surgeries and the emerging economies providing large patient pools along with growing medical infrastructure and reimbursement. The growing geriatric population prone to spinal disorders also provides market opportunities.

Global expansion opportunities for artificial disc manufacturers lie in the large untapped markets of Asia Pacific and Latin America. While the U.S. and Europe currently dominate the market, regions like China, India, Brazil and Mexico are expected to offer high growth opportunities owing to growing healthcare investments, infrastructure and increasing disposable incomes.

Market Drivers:
The rising geriatric population globally is a major driver as older people are more susceptible to developing spinal disorders. As per the UN, the number of people aged 65 years or above is projected to reach 1.5 billion by 2050 from 703 million in 2019. This provides a large patient base for artificial discs.

Market Restraints:
The high costs associated with artificial disc replacement procedures limit their adoption over other treatment options. Availability of cheaper alternative treatments also restraints the artificial discs market growth to a certain extent.

Segment Analysis
Cervical Artificial Discs dominate the Artificial Discs Market owing to rising number of cases of cervical spondylotic myelopathy. Cervical artificial discs aim to replace the injured disc and maintain the motion level of cervical spine which prevents adjacent segment degeneration.
Lumbar Artificial Discs sub-segment is projecting to grow at fastest pace during forecast period. High success rate of total disc replacement surgeries and ability of lumbar artificial discs to restore natural motion of spine boosting adoption rates. Lumbar region experiences most number of disc injuries making it largest revenue generating segment in Artificial Discs Market.

North America holds leading share in global Artificial Discs Market driven by rising obesity and geriatric population susceptible to spine injuries. Favorable reimbursement policies and availability of advanced healthcare infrastructure supporting market growth. Europe is second largest regional market spurred by growing spine surgeries volumes in countries like Germany and UK. Asia Pacific shows lucrative prospects for expansion fueled by increasing healthcare spending, large patient pool and improving access to spinal surgeries across India and China.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)