The global Artificial Disc Replacement market gathered revenue around USD 477.9 Million in 2020 and market is set to grow USD 1.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 11.0% during the prediction period 2021 to 2027.
Growth Factors:
The key factors driving the market growth include the rising number of spinal surgeries across the globe, the growing aging population, high demand for surgical alternatives with less tissue disruption, and technological advancements. The COVID-19 pandemic resulted in several challenges, such as logistical bottlenecks, low demand, and decreased sales & marketing activities.
This resulted from supply chain challenges, deferred or canceled elective procedures, and movement restrictions due to lockdowns. Zimmer Biomet, for instance, reported a negative impact of COVID-19 on its annual revenue for 2020. It reported a 12% decrease in its total revenues from 2019 to 2020. The company was also impacted by the postponed elective and semi-elective procedures that use Medtronic’s products. The reluctance of people for undergoing non-COVID-19 emergency procedures affected the company’s revenue.
The broader acceptance of surgical treatments along with less tissue disruption as well as patient trauma is expected to boost the growth of the market. Furthermore, market players are anticipating broader consolidation of vendors in the spine segment, which is also expected to provide opportunities in the market. This is further complemented by the rising number of technological advancements.
The market growth is also supported by the increasing number of clinical trials related to artificial discs by market players. For instance, Medtronic is sponsoring a clinical trial related to the Prestige LP Cervical Disc for treatment of the cervical degenerative disc disease, radiculopathy, and myelopathy. The study is expected to be completed by August 2022. Such activities provide various growth opportunities to the market.
Market players are investing in many strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, among others to maintain a competitive edge in the market. For instance, in February 2021, NuVasive, Inc. acquired Simplify Medical, developer of the Simplify Cervical Artificial Disc for cervical total disc replacement.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Artificial Disc Replacement market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Artificial Disc Replacement market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
Report Scope | Details |
Market Size | USD 1.0 Billion by 2027 |
Growth Rate | CAGR of 11.0% From 2021 to 2027 |
Base Year | 2020 |
Forecast Period | 2021 to 2027 |
Historic Data | 2017 to 2020 |
Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
Segments Covered | Material type, indication And Region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Companies Mentioned | Medtronic; Orthofix Medical, Inc.; Globus Medical; Aesculap, Inc.; NuVasive, Inc.; AxioMed LLC; Zimmer Biomet; SpineArt SA; Synergy Spine Solutions, Inc.; Centinel Spine. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Artificial Disc Replacement market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America accounted for the largest revenue share of over 48% in 2020. The large share of the North America region is credited to the presence of key players and technologically equipped hospitals in the U.S. and Canada. Europe held the second-largest share of the market due to a high aging population and prevalence of spinal disorders resulting in an increasing number of disc replacement surgeries. As per the Federal Statistical Office, 17.4 million surgeries were performed in Germany in 2019.
Out of these, intestinal, spinal, endoscopic surgeries, and hip implant surgeries were some of the most common. This contributed to the region’s share. Asia Pacific is estimated to be the fastest-growing regional market at a CAGR of more than 12% over the next few years. This is owing to investments by companies to expand their regional presence and the rising demand for minimally invasive procedures. Due to the underdeveloped healthcare sector in the Middle East & Africa, it is expected to account for the lowest market share.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Artificial Disc Replacement Market include: Medtronic; Orthofix Medical, Inc.; Globus Medical; Aesculap, Inc.; NuVasive, Inc.; AxioMed LLC; Zimmer Biomet; SpineArt SA; Synergy Spine Solutions, Inc.; Centinel Spine.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Artificial Disc Replacement market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Artificial Disc Replacement market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Artificial Disc Replacement markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Artificial Disc Replacement market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Artificial Disc Replacement Market, By Material Type
7.1. Artificial Disc Replacement Market, By Material Type, 2021-2027
7.1.1. Metal
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Metal + Plastic
7.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Artificial Disc Replacement Market, By Indication
8.1. Artificial Disc Replacement Market, By Indication, 2021-2027
8.1.1. Cervical Disc Replacement
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Lumbar Disc Replacement
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Artificial Disc Replacement Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.1.2. Market Revenue and Forecast, By Indication (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.1.3.2. Market Revenue and Forecast, By Indication (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.1.4.2. Market Revenue and Forecast, By Indication (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.2.2. Market Revenue and Forecast, By Indication (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.2.3.2. Market Revenue and Forecast, By Indication (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.2.4.2. Market Revenue and Forecast, By Indication (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.2.5.2. Market Revenue and Forecast, By Indication (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.2.6.2. Market Revenue and Forecast, By Indication (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.3.2. Market Revenue and Forecast, By Indication (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.3.3.2. Market Revenue and Forecast, By Indication (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.3.4.2. Market Revenue and Forecast, By Indication (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.3.5.2. Market Revenue and Forecast, By Indication (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.3.6.2. Market Revenue and Forecast, By Indication (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.4.2. Market Revenue and Forecast, By Indication (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.4.3.2. Market Revenue and Forecast, By Indication (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.4.4.2. Market Revenue and Forecast, By Indication (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.4.5.2. Market Revenue and Forecast, By Indication (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.4.6.2. Market Revenue and Forecast, By Indication (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.5.2. Market Revenue and Forecast, By Indication (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.5.3.2. Market Revenue and Forecast, By Indication (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, By Material Type (2016-2027)
9.5.4.2. Market Revenue and Forecast, By Indication (2016-2027)
Chapter 10. Company Profiles
10.1. Medtronic;
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Orthofix Medical, Inc
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Globus Medical
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Aesculap, Inc.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. NuVasive, Inc.
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. AxioMed LLC
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Zimmer Biomet
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. SpineArt SA
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Synergy Spine Solutions, Inc.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Centinel Spine.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms