Prosthetic disc nucleus market size surpassed at US$ 92 Mn in 2019 and to reach US$ 180 million by 2027 with a CAGR of 8% during the forecast period 2020 to 2027.
Increase in incidence of spine disorder across the globe, surge in global geriatric population, and rise in the demand for minimally invasive surgeries are expected to drive the global market during the forecast period.
The market growth will be driven by the increasing prevalence of degenerative back diseases, advancements in gene therapies, tissue engineering, and cell therapy, and research and development activities. Research and development activities will play a key role in the overall development of the global prosthetic disc nucleus market. Market players should focus on mergers & acquisitions and product launch to gain a competitive edge in the current prosthetic disc nucleus market landscape.
Prosthetic disc nucleus is hydrogel-based spinal implant used as an adjunct treatment for patients with degenerative disc disorder and herniation, where surgical intervention is the only option. Prosthetic disc nucleus offers an alternative, cost-effective, and minimally invasive procedure to total disc replacement. In 1996, C.D. Ray introduced the first PDN device, which was the first nucleus replacement device designed to replace the functions of the disc that were lost through degeneration. The global prosthetic disc nucleus market is driven by rise in prevalence of spine disorders across globe, increase in global geriatric population, and high demand for minimally invasive surgeries across the globe.
North America dominated the global prosthetic disc nucleus market in 2019, followed by Europe, and the trend is anticipated to continue during the forecast period. The region’s dominance can be ascribed to the high prevalence and rise in incidence rates of degenerative disc disorder, well-established healthcare industry, and increase in geriatric population in the region.
High Prevalence and Rising Incidence of Spine Disorders to Drive Global Market
The increase in incidence of spinal disorders, such as degenerative disc diseases and spinal stenosis, has fueled the usage of spine implants. An estimated 266 million people are affected with lumbar degenerative spine disorder and low back pain each year. According to Hebrew SeniorLife Institute for Aging Research, around one-third of people aged between 40 and 59 are affected with moderate to severe degenerative disc disorder and around half of the population is affected with moderate to severe osteoarthritis. The prevalence of disc height narrowing and joint osteoarthritis increased by 2 to 4 times in people aged between 60 and 69 years and 70 and 89 years, respectively. Disorders of the spine are an important health and social issue, as these are major contributors to disability globally. Respondents often report a spine disorder as lower back pain, irrespective of the actual diagnosis or cause of the condition. Thus, high prevalence and rise in incidence rate of spine disorder across the globe is a prominent factor projected to boost the prosthetic disc nucleus market during the forecast period.
Progress in Treatment of Degenerative Disc Diseases to Aid Market Growth
The prevalence of lower back pain is one of the major problem in individuals of all age groups. While in most cases, back pain can be treated using conventional physiotherapy and medication, early intervention for the treatment of degenerative disc diseases is imperative. Over the past couple of decades, minimally invasive procedures and regenerative medicines have garnered immense popularity and the adoption is expected to further rise in comparison with existing surgical procedures. Advancements in cell-based, bio-molecular, and gene therapies are expected to provide a plethora of opportunities to the players involved in the current prosthetic disc nucleus market.
The promise offered by non-invasive therapies, including prosthetic disc nucleus, is set to fuel the overall growth of the global prosthetic disc nucleus market during assessment period. However, high costs of implants and overall procedure are expected to pose as a barrier to market growth.
COVID-19 Pandemic to Hinder Market Growth
The onset of the novel COVID-19 pandemic is projected to have a strong impact on the overall growth of the global prosthetic disc nucleus market in 2020. Due to stringent lockdowns, restrictions on trade and transportation and increasing focus on curbing the spread of the novel COVID-19 infection, the demand for steeply priced prosthetic disc nucleus has witnessed a decline in 2020. Furthermore, supply chains of raw materials have been severely disrupted due to the transportation restrictions, thereby impacting the overall production of prosthetic disc nucleus. Due to this, the market growth is likely to remain slower than initial projections.
In terms of region, the global prosthetic disc nucleus market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global prosthetic disc nucleus market in 2019, followed by Europe. The U.S. dominated the prosthetic disc nucleus market in North America in 2019, due to the presence of key players, technological advancements, adoption of minimally invasive surgeries, and adequate reimbursement policies. This, in turn, is estimated to boost the market in the region. The prosthetic disc nucleus market in Asia Pacific is likely to expand at a notable CAGR from 2020 to 2030. The expansion of the market in the region can be attributed to the adoption of new technologies, high awareness, significant healthcare spending, early availability of advanced technologies, and penetration of research activities across the region.
Strategic Acquisitions and Collaborations by Key Players to Drive Global Market
The global prosthetic disc nucleus market is consolidated in terms of number of players. The market is dominated by key players with strong geographic presence. Key players operating in the global prosthetic disc nucleus market include Stryker Corporation, Zimmer Biomet Holdings, Inc, DePuy Synthes (Johnson & Johnson), NuVasive, Inc, and Orthofix International N.V. In March 2018, Orthofix International N.V. acquired Spinal Kinetics, Inc., a leading developer and manufacturer of cervical and lumbar disc devices. The spinal kinetics product portfolio comprises M6-C cervical and M6-L lumbar artificial discs for patients with degenerative disc disorders. In November 2018, Xian Janssen (Janssen Global Services, LLC) and Ali Health signed a strategic cooperation agreement to establish a new model of Internet health services. Johnson & Johnson's pharmaceutical subsidiary Xian Yangsen Pharmaceutical Co., Ltd. (Janssen Global Services, LLC) announced that it is working with Alibaba Group's flagship platform in the field of medical health.
By Surgery Type
By End User
Scope of the Report
VRR’s report on the global prosthetic disc nucleus market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period, 2020 to 2030 The report provides the overall value (US$ Mn) of the global prosthetic disc nucleus market for the period 2018–2030, considering 2020 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global prosthetic disc nucleus market for the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global prosthetic disc nucleus market.
Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global prosthetic disc nucleus market.
The report comprises an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on changing competitive dynamics in the global prosthetic disc nucleus market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global prosthetic disc nucleus market. The next section of the global prosthetic disc nucleus market report highlights the USPs, which include disease prevalence and incidence rate of degenerative spine diseases, and impact of COVID-19 on the global prosthetic disc nucleus market.
The report delves into the competition landscape of the global prosthetic disc nucleus market. Key players operating in the global prosthetic disc nucleus market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global prosthetic disc nucleus market report.
Key Questions Answered in Global Prosthetic Disc Nucleus Market Report
Research Objectives and Research Approach
The comprehensive report on the global prosthetic disc nucleus market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and health care compliances laid down by accredited agencies in the purview of research in the global prosthetic disc nucleus market. It is followed by market introduction, market dynamics, and an overview of the global prosthetic disc nucleus market, which includes VRR analysis of market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the prosthetic disc nucleus market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into smaller sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
Revenue generated by key prosthetic disc nucleus manufacturers has been mapped to ascertain the size of the global prosthetic disc nucleus market in terms of value. The forecast presented here assesses the total revenue generated in the prosthetic disc nucleus market. In order to provide an accurate forecast, we initiated by sizing up the current prosthetic disc nucleus market with the help of the parent market.
The report analyzes the global prosthetic disc nucleus market in terms of surgery type, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global prosthetic disc nucleus market.
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