The artificial discs market is primarily driven by the growing demand for effective alternatives to spine fusion surgeries. Artificial discs serve as effective replacements for damaged discs in the spine and help preserve the natural motion of the spine. These discs use advanced materials like metal alloys and plastics to mimic the properties of natural discs. They are planted between the vertebrae during a minimally invasive procedure to maintain the space between vertebrae and provide a cushion. This allows for flexibility and movement of the spine without resulting in stunted movement seen after fusion surgeries. The global demand for these discs is rising due to advantages like faster recovery times, lesser post-operative pain, and ability to perform everyday activities sooner than spinal fusion.
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 dominated the market with over 25% share in 2019 owing to its wide reach and variety of artificial discs.
The Artificial Discs Market Demand is experiencing rising demand driven by the growing elderly population globally which is more prone to degenerative disc diseases. According to estimates, over 20% of the global population will be aged 60 years or above by 2050. This burgeoning geriatric demographic suffering from various spine conditions will continue driving volume growth of artificial discs in the coming years.
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