July 27, 2024
Artificial Discs Market

Artificial Discs Market is Estimated to Witness High Growth Owing to Advancements in Biomaterials Technology

Artificial discs are increasingly being used as an alternative to spinal fusion surgery for the treatment of degenerative disc disease. Also known as total disc replacement (TDR), artificial discs aim to preserve motion in the spine by replacing the diseased disc with an artificial disc made from materials like metal and plastic. Key advantages of artificial discs over spinal fusion include improved mobility and reduced stress placed on adjacent levels of the spine. The growing prevalence of lower back pain disorders among geriatric populations has augmented the demand for artificial disc replacement procedures.

The Global Artificial Discs Market is estimated to be valued at US$ 0.86 Bn in 2024 and is expected to exhibit a 13% CAGR over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the artificial discs market are Sichuan Yongxiang Co. Ltd (Tongwei Co. Ltd), GCL-TECH, DaqoNew Energy Co. Ltd, Wacker Chemie AG, and XinteEnergy Co. Ltd. The growing presence of major players and their efforts towards new product development is expected to support market growth.

Some of the key opportunities in the artificial discs market include increased adoption in emerging economies due to rising healthcare expenditures and growing awareness. Furthermore, ongoing advancements in biomaterials used for artificial discs is expanding their application to cervical and lumbar spine disorders.

Recent years have witnessed significant developments in biomaterial technologies for artificial discs. The introduction of new composite materials with enhanced mechanical properties simulating natural discs is driving their acceptance. 3D printing technologies are also being leveraged to custom-design discs according to patient anatomy.

Market key trends

The rising geriatric population globally prone to degenerative spine conditions is a major driver for the Artificial Discs Market Size . It is estimated that over 50% of individuals aged above 65 suffer from lower back pain attributed to disc disorders. Furthermore, the growing obesity rates which increase the load on spine is resulting in a higher risk of herniated discs. Favorable reimbursement policies for disc replacement surgeries in developed countries is another factor fueling the market growth.

Current challenges in artificial discs market:

The artificial discs market continues to face challenges in the commercialization of these medical devices as viable alternatives to spinal fusion. Limited long-term clinical evidence and the availability and affordability of alternative surgical and non-surgical treatment options remain obstacles to greater patient and physician acceptance. There are also surgical risks associated with artificial disc replacements that give some physicians pause in recommending them over well-established fusion procedures except in certain cases. On the manufacturing side, making artificial discs that can withstand the biomechanical forces in the body over many years without loosening or wearing out is an engineering challenge manufactures are still working to fully address.

SWOT Analysis

Strength: Artificial discs aim to preserve motion in the spine and reduce risks of adjacent level degeneration seen with fusion. They offer patients an alternative to revision surgeries sometimes needed with fusion.
Weakness: Long term clinical evidence on wear characteristics and outcomes beyond 10-15 years is still limited. Surgical risks include device migration or failure requiring revision.
Opportunity: As patient demographics shift to an aging population, demand for motion-preserving options may increase particularly in commercially dominant regions. New polymer and ceramic materials could improve device durability.
Threats: Fusion procedures are well-established low-risk options, limiting reimbursement support for discs in some markets. Competitive non-surgical treatments continue advancing.

North America currently accounts for the largest share of the artificial discs market in terms of value due to advanced healthcare infrastructure and patient affordability in the region. The U.S. alone represents over 60% of revenue. Europe is another major regional market supported by public and private funding models for innovative spinal technologies.

The Asia Pacific region is projected to experience the fastest growth over the coming decade as medical device manufacturing shifts to lower-cost markets like China, India and South Korea. Rising disposable incomes will enhance the addressable patient pool in the populous economies of the Asia Pacific seeking advanced spine care options. Translation of clinical data to new languages will be important to educate specialists and gain acceptance.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile