Artificial Disc Replacement Market Size, Share & Trends Report

Artificial Disc Replacement Market Size, Share & Trends Analysis Report By Material Type (Metal, Metal + Plastic), By Indication (Cervical, Lumbar), By Region (Asia Pacific, North America), And Segment Forecasts, 2021 - 2028

  • Published Date: Aug, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-482-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 120

Report Overview

The global artificial disc replacement market size was valued at USD 471.0 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.7% from 2021 to 2028. An increasing number of trauma-related and sports injuries and orthopedic surgeries is expected to boost the market growth. According to the NFL Physicians Society, approximately 1.2 million football-related injuries are sustained annually. The market is also anticipated to grow owing to the increasing technological advancements and rising geriatric population globally. The COVID-19 pandemic adversely impacted the global market with low demand as well as sales. The pandemic has led to a significant reduction in procedural volumes in 2020, which negatively affected the market growth.

North America artificial disc replacement market size, by indication, 2018 - 2028 (USD Million)

NuVasive, Inc. reported an 8% decrease in its net sales for the spinal hardware segment and a 7% decrease in its volume for spinal hardware. The major impact on the market was due to the cancellation or postponement of elective surgeries during the pandemic. Furthermore, many hospitals and specialty centers were converted into COVID-19 treatment facilities, which further reduced the number of procedures. For instance, the Hospital for Special Surgery (HSS) Spine Care Institute is a specialty care musculoskeletal treatment center.

However, between 17 March 2020 and 8 June 2020, all elective surgeries, including spinal surgeries were postponed and the hospital was converted to be a designated COVID-19 treatment facility. Hence such factors are negatively impacting the market growth. Healthcare reforms in many emerging markets are expanding access to treatments to a greater proportion of their populations, which is anticipated to drive the demand for healthcare-related products, including spinal surgery products. Increasing economic affluence in key developing regions will further drive demand for such products, hence driving the market growth.

 

COVID-19-induced revenue dip of over 7.0% in the artificial disc replacement market

Pandemic Impact

Post COVID Outlook

The earlier projections depicting approximately 5.5% YoY growth was countered by the pandemic resulting in a decline of 7.2% in the year-on-year growth rate from 2019 to 2020

With the easing of lockdowns across the globe and elective procedures starting to resume, the market is expected to recover

Orthofix Medical, Inc. announced an 11.6% decrease in its annual revenue from 2019 to 2020 due to a drop in product sales

The year-on-year growth from 2020 to 2021 is expected to be 6.4%

Hospitals and specialty centers were converted into COVID-19 treatment facilities, which further resulted in the reduction of artificial disc replacement procedures

Zimmer Biomet is planning to spin off its Spine & Dental business to form a new and independent, publicly traded company NewCo. The spin-off is expected to be completed by mid-2022

 

Artificial disc replacement surgeries are performed on patients suffering from back pain due to degenerated discs. According to the American Chiropractic Association, 80% of the population experiences back pain at least once in their lifetimes. It also stated that low back pain costs around USD 50 billion in healthcare costs every year to Americans. The rising geriatric or target population, which is highly prone to back pain will also support the market growth. According to the Population Reference Bureau, the number of Americans aged 65 years and more is projected to nearly double from 52 million in 2018 to 95 million by 2060. Moreover, according to National Center for Biotechnology Information, in April 2017, 65 to 80% of older adults suffered from musculoskeletal pain, and 36 to 70% of them suffered from back pain. Such factors are projected to boost the demand for artificial disc replacement procedures.

Indication Insights

The cervical disc replacement segment accounted for the maximum revenue share of more than 50% in 2020. The segment is estimated to retain the dominant position growing at the fastest CAGR of over 12% from 2021 to 2028. The key factors contributing to this share include a rising number of disc degeneration cases in the cervical discs, as compared to the lumbar discs. Furthermore, the high number of products available for artificial cervical disc replacement is also expected to boost the segment growth.

Lumbar disc replacement procedures do not require bone fusion, which leads to shorter recovery time as compared to the other spinal procedures, which is expected to positively impact the market growth. Growing technological advancements and research in the space are also anticipated to boost the segment’s growth during the forecast period.

Material Type Insights

The metal + plastic material type segment accounted for the highest revenue share of more than 64% in 2020. The majority of the cervical total disc replacement implants, which are FDA-approved in the U.S. today incorporate iterations of metal alloy-based inferior and superior prosthetic endplates, which articulate with a central medical-grade plastic core. Also, the overall success rate of metal + plastic artificial dis replacement procedures is high, which fuels the market growth.

Global artificial disc replacement market share, by material type, 2020 (%)

On the other hand, the metal segment is expected to register the fastest CAGR of 13% during the forecast period. This growth is credited to the rising number of research activities in this segment, due to the potential of metals to remove long-term wear as compared to the metal + plastic materials. Despite immense opportunities in this segment, it holds the second-largest market share due to product recalls.

Regional Insights

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. 2 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.

Key Companies & Market Share Insights

The global market is highly competitive. Market players implement strategic initiatives, such as product development & launches, expansion of distribution network, and global footprint through subsidiaries and partnerships. Key players are also involved in portfolio diversification and mergers & acquisition. For instance, in April 2021, NuVasive, Inc. received U.S. FDA approval for its Simplify Cervical Artificial Disc for 2-level cervical total disc replacement. In September 2020, Orthhofix Medical, Inc. partnered with Neo Medical SA, a privately held Switzerland-based medical device company for developing novel spinal surgery-related products. Such developments by key companies are fueling the market growth. Some of the key players in the global 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

Artificial Disc Replacement Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 501.1 million

Revenue forecast in 2028

USD 1,090.3 million

Growth rate

CAGR of 11.7% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Material type, indication, region

Regions covered

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; U.K.; Germany; Italy; France; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia

Key companies profiled

Medtronic; Orthofix Medical, Inc.; Globus Medical; Aesculap, Inc.; NuVasive, Inc.; AxioMed LLC; Zimmer Biomet; SpineArt SA; Synergy Spine Solutions, Inc.; Centinel Spine

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this report, Grand View Research has segmented the global artificial disc replacement market report on the basis of material type, indication, and region:

  • Material Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Metal

    • Metal + Plastic

  • Indication Outlook (Revenue, USD Million, 2016 - 2028)

    • Cervical Disc Replacement

    • Lumbar Disc Replacement

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

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