In 2019, the North America artificial disc market was estimated to be worth $874.1 million and is projected to rise at a substantial CAGR of 19% between 2020 and 2026.
In 2019, the North America artificial disc market was estimated to be worth $874.1 million and is projected to rise at a substantial CAGR of 19% between 2020 and 2026. By 2026, the market is anticipated to garner over $2.9 billion. As the healthcare sector across North America has been growing more attentive toward advanced patient care, the introduction of innovative, superior quality, and clinically proven technologies has become more crucial than ever.
The top three trends accelerating the North America market growth are discussed below:
Cervical artificial disc replacement to gain momentum, thanks to popularity of minimally invasive procedures
Cervical artificial disc replacement can emerge as a key contributor in the North America artificial disc market over the forthcoming times, triggered by the increasing incidence of damaged spinal discs and the consequent upsurge in the number of artificial disc implants across the region. Conditions such as osteophytes or bone spurs and cervical disc herniation can impair the nerve roots, leading to chronic neck pain, arm pain, or even weakness.
The growing availability of cervical disc arthroplasty is one of the key factors driving the North America artificial disc industry growth. During 2019, the segment held a share of nearly $600 million and is expected to soar considerably over the coming period as well, driven by the minimal risks of infection and re-operation associated with this minimally invasive procedure.
Due to alarming increase in orthopedic diseases, US to claim a large portion of the market share
The US market for artificial discs is set to achieve $2.5 billion by 2026, owing to the growing frequency of orthopedic diseases across the nation. In 2015, more than 54 million adult population in the US were suffering from arthritis, according to the findings of the Centers for Disease Control and Prevention (CDC). The growing volume of healthcare expenditures, alongside the presence of cutting-edge medical technologies has been a key enabler of the market outlook.
Furthermore, several market players have been introducing new products. In December 2020, for instance, Centinel Spine announced the premier implantation of its new angled endplates, addressing the needs of surgeons for diverse solutions for lumbar anatomy as well as pathology of patients. The innovative solution integrates motion preservation technology to revolutionize the commercial use of artificial discs. Such developments have been aiding the market share augmentation.
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Metal-on-metal segment to register high growth rate owing to associated advantages
The metal-on-metal material segment is expected to attain a considerable revenue over the forecast period, surging at a CAGR of 18% through the projected timeframe. Numerous healthcare practitioners including surgeons, doctors, and clinicians have been displaying a growing preference for metal implants of late.
Titanium alloys, zirconium alloys, cobalt-nickel-chromium-molybdenum, tantalum, chromium-cobalt-molybdenum are some extensively utilized metal implants in artificial disc surgeries. These materials are being preferred due to their superior corrosion resistant properties. Moreover, the use of metal implants entails considerably lower costs than metal-on-biopolymers. These factors have been instrumental in advancing the North America artificial disc industry size.
With the increasing number of strategic collaborations, mergers, acquisitions, and product innovations, manufacturers are offering a comprehensive range of solutions for both lumbar and cervical disc implants, fueling the growth of the North America artificial disc market size.
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