Artificial disc is commonly referred as spine arthroplasty device or disc prosthesis which is implanted into the spine to emulate functions of normal disc. That is made up of metal or biopolymer or a combination of both. Artificial disc is an alternative to spinal fusion for the surgical treatment of severe disc problems.
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Increase in healthcare expenditure is the key driving factor which is expected to boost the global artificial disc market growth. Furthermore, increase in disposable income will have the positive impact on market growth. Moreover, rise in prevalence of degenerative disc diseases and demand for non-invasive procedures which is expected to propel the market growth during this forecast period. In addition to that, growing number of surgeries and the availability of number of products will drive the market growth. Also, increase in approval for new products by regularity authority will fuel the market growth. For instance, in February 2019, OrthoFix received FDA approval for its M6-C Artificial Disc which is used to treat Cervical Disc degeneration.
However, high cost of implants is the challenging factor which is expected to hinder the global artificial disc market growth. Also, lack of reimbursement for disc replacement will obstruct the market growth.
Market Key Players
Various key players are discussed in this report such as B. Braun Melsungen AG, Johnson & Johnson, Globus Medical Inc., Spinal Kinetics Inc., K2M Inc., Simplify Medical Inc., AxioMed LLC, Medtronic PLC., Nuvasive Inc, and Stryker Corporation
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