Biopolymer Material Segment to Lead Market from 2022 to 2028
According to our new research study on "Artificial Cervical Intervertebral Disc Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material, End User and Geography," the market is expected to grow from US$ 1,621.66 million in 2022 to US$ 4,375.29 million by 2028. It is estimated to grow at a CAGR of 18.0% during 2022–2028.
Factors driving the growth of the artificial cervical intervertebral disc market are increasing incidences of cervical injuries and a rise in the aging population. The high cost of cervical intervertebral disc surgeries hinder the overall market growth. Surging market potential in developing economies are expected to provide lucrative opportunities for the artificial cervical intervertebral disc market in the coming years. Furthermore, growing number of product approvals and developments is likely to create positive impact on the artificial cervical intervertebral disc market during the forecast period.
Based on material, the artificial cervical intervertebral disc market is segmented into biopolymer material and metal material. The biopolymer material segment accounted for a larger share of the market in 2022. However, the metal material segment is anticipated to register a higher CAGR during the forecast period. There are several types of artificial discs, and most are made of a metal (such as titanium or cobalt chromium). Titanium is a low-density transition metal with high strength and corrosion resistance. It can be alloyed with multiple other metals, such as iron, aluminum, vanadium, and molybdenum, to create strong, lightweight alloys for use in various industries. The biocompatibility of titanium makes it an ideal substance for manufacturing prosthetics used in medical implantation procedures. Cobalt-chrome (CoCr) is a metal alloy of cobalt and chromium with enormous specific strength and approximately twice the stiffness of titanium. A few of the examples of metal artificial discs are Medtronic’s PRESTIGE Cervical Disc – The PRESTIGE Cervical Disc is made of a titanium ceramic composite and titanium carbide. The PRESTIGE Cervical Disc design and composition makes it highly durable and give the spine outstanding motion at one- and two-disc levels in the cervical spine.
Impact of COVID-19 Pandemic on Artificial Cervical Intervertebral Disc Market
The COVID-19 pandemic has significantly affected the global healthcare system. To combat the spread of SAR-CoV-2, governments imposed stringent policies in 2020 and 2021 to prevent and reduce the infection and mortality rates. Many companies offering artificial cervical intervertebral disc have their business operations in the US, and their business were adversely affected by the disease outbreak. This disrupted and restricted the ability of enterprises to distribute their products and compelled them to temporarily shut down their facilities. Also, to free-up limited space for the people who were being treated for COVID, hospitals had postponed or cancelled elective surgeries, including spinal surgeries. For instance, the British Journal of Surgery published in May 2020 stated that orthopedic procedures were affected most, with 6.3 million operations cancelled worldwide. The cancellation of elective surgeries to reduce exposure to COVID-19 in the hospital, negatively affected the growth of the artificial cervical intervertebral disc market. However, the world is slowly returning to normal, and it is also a time to start rebuilding lives and economies. Therefore, with the easing of lockdowns across the world and elective procedures starting to resume, the artificial cervical intervertebral disc market is expected to significantly recover the loss in the coming years.
Zimmer Biomet Holdings, Inc.; Globus Medical, Inc.; Centinel Spine, LLC; Synergy Spine Solutions, Inc.; B. Braun Melsugen AG; Aditus Medical; AxioMed LLC; NuVasive, Inc.; Medtronic; and Orthofix Medical, Inc. are among the leading companies operating in the artificial cervical intervertebral disc market.
Artificial Cervical Intervertebral Disc Market, by Region, 2022 (%)
Artificial Cervical Intervertebral Disc Market Size & Share | Report by 2028
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Artificial Cervical Intervertebral Disc Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Biopolymer Material and Metal Material), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography
Artificial Cervical Intervertebral Disc Market Size & Share | Report by 2028
Download Free SampleArtificial Cervical Intervertebral Disc Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Biopolymer Material and Metal Material), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography
The artificial cervical intervertebral disc market is segmented on the basis of material, end user, and geography. Based on material, the market is segmented into biopolymer material and metal material. By end user, the artificial cervical intervertebral disc market is segmented into hospitals, ambulatory surgical centers, and others. Geographically, the artificial cervical intervertebral disc market has been segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), APAC (China, India, Japan, Australia, South Korea, and Rest of APAC), the MEA (Saudi Arabia, UAE, South Africa, and Rest of MEA), and SCAM (Brazil, Argentina, and Rest of SCAM).
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