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Increasing Demand for Minimally Invasive Procedures to Augment Market

Over the past couple of decades, the prevalence of degenerative intervertebral disc disease has witnessed a notable spike due to which, the demand for prosthetic disc nucleus has increased worldwide– a major factor that is expected to drive the global prosthetic disc nucleus market during the forecast period. The demand for advanced back treatments is on the rise due to increasing sedentary lifestyle, lack of exercise, and posture-related issues. In recent years, due to the surging awareness and high efficacy of minimally invasive procedures, consumer demand has increased at a rapid pace, thus boosting the growth of the global prosthetic disc nucleus market.

The arrival of nucleus pulposus (NP) replacement has emerged as an ideal minimally invasive alternative to discectomy with fusion, and it plays a key role in preventing adjacent level degenerative disease. A number of NP replacement materials are under review by the scientific and research community and has shown immense promise due to which, the overall prospects of prosthetic disc nucleus offer a positive outlook. Advancements in gene therapy, tissue engineering, and other medical spheres are also likely to propel the prosthetic disc nucleus market during the forecast period.

At the back of these factors, the global prosthetic disc nucleus market is on course to reach ~US$ 195 Mn by the end of 2030.

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Progress in Treatment of Degenerative Disc Diseases to Aid Market Growth

The prevalence of lower back pain is one of the major problem in individuals of all age groups. While in most cases, back pain can be treated using conventional physiotherapy and medication, early intervention for the treatment of degenerative disc diseases is imperative. Over the past couple of decades, minimally invasive procedures and regenerative medicines have garnered immense popularity and the adoption is expected to further rise in comparison with existing surgical procedures. Advancements in cell-based, bio-molecular, and gene therapies are expected to provide a plethora of opportunities to the players involved in the current prosthetic disc nucleus market.

The promise offered by non-invasive therapies, including prosthetic disc nucleus, is set to fuel the overall growth of the global prosthetic disc nucleus market during assessment period. However, high costs of implants and overall procedure are expected to pose as a barrier to market growth.

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Market Players Eye Regulatory Approval and Product Launch to Gain Advantage

Major players involved in the current prosthetic disc nucleus market landscape are increasingly focusing on attaining regulatory approval and launching new products to gain a competitive edge in the current market for prosthetic disc nucleus. In addition, market players are also expected to focus on mergers & acquisitions to expand their market presence.

For instance, in March 2018, Orthofix International N.V. announced that the company had acquired Spinal Kinetics, Inc.–  the move is expected to expand the product portfolio of the company. In November 2018, Xian Jansesen and Ali Health entered into a strategic alliance that will establish a cutting-edge model for Internet health services.

COVID-19 Pandemic to Hinder Market Growth

The onset of the novel COVID-19 pandemic is projected to have a strong impact on the overall growth of the global prosthetic disc nucleus market in 2020. Due to stringent lockdowns, restrictions on trade and transportation and increasing focus on curbing the spread of the novel COVID-19 infection, the demand for steeply priced prosthetic disc nucleus has witnessed a decline in 2020. Furthermore, supply chains of raw materials have been severely disrupted due to the transportation restrictions, thereby impacting the overall production of prosthetic disc nucleus. Due to this, the market growth is likely to remain slower than initial projections.

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Analysts’ Viewpoint

The global prosthetic disc nucleus market is expected to expand at an impressive CAGR of ~8% during the forecast period. The market growth will be driven by the increasing prevalence of degenerative back diseases, advancements in gene therapies, tissue engineering, and cell therapy, and research and development activities. Research and development activities will play a key role in the overall development of the global prosthetic disc nucleus market. Market players should focus on mergers & acquisitions and product launch to gain a competitive edge in the current prosthetic disc nucleus market landscape.

Prosthetic Disc Nucleus Market: Overview

  • According to Transparency Market Research’s latest report on the global prosthetic disc nucleus market for the historical period 2018–2019 and forecast period 2020–2030, increase in incidence of spine disorder across the globe, surge in global geriatric population, and rise in the demand for minimally invasive surgeries are expected to drive the global market during the forecast period
  • According to the report, the prosthetic disc nucleus market was valued at ~US$ 92 Mn in 2019. It is anticipated to expand at a CAGR of ~8% from 2020 to 2030.

Increase in Spine Disorder Worldwide: Key Drivers

  • High prevalence and rise in incidence rates of spine disorder across the globe are key factors that are likely to propel the market during the forecast period
  • An estimated 266 million people, worldwide, are affected with lumbar degenerative spine disorder and low back pain each year
  • Disorders of the spine are an important health and social issue, as these are major contributors to disability globally. Respondents often report a spine disorder as low back pain, irrespective of the actual diagnosis or cause of the condition.
  • Prevalence of back pain and spine disorders increases with age. It is essential to develop a prevention strategy focused on spine disorders and back pain considering the low level of physical activity, obesity, and sedentary lifestyle of the population.

Rise in Geriatric Population to Boost Market

  • The risk of degenerative disc disorder and lumbar spinal disorder significantly increases with age. The geriatric population is at a higher risk of developing these medical conditions, as these are caused by age-related degeneration and hypertrophy of the invertible disks, ligament flava, and facet joints. Around 20% to 30% of asymptomatic adults older than 60 years have imaging evidence of spinal stenosis.
  • In May 2017, an article published in AMJ journal stated that over 200,000 adults in the U.S. are affected by lumbar spinal stenosis, and the number of geriatric adult population is estimated to increase to 64 million by 2025
  • A population-based study in Japan was conducted in 2013, which revealed that the incidence rate of lumbar spinal stenosis was about 1.7% to 2.2% in the age group 40 to 49, while the incidence rate in the age group 70 to 79 was 10.3% to 11.2%
  • The geriatric population is considered a key driver of the prosthetic disc nucleus market. Various organizations such as the World Health Organization (WHO) and Population Reference Bureau indicate that the percentage of population aged above 50 is increasing at a steady pace as compared to the geriatric population
  • Thus, rapid increase in the geriatric population across the globe is a prominent factor that is expected to boost the prosthetic disc nucleus market during the forecast period

Expensive Implants and High Procedure Cost to Hamper Market

  • According to industry experts, high cost of prosthetic disc nucleus is likely to hamper the market, particularly in various underdeveloped and developing countries
  • Prosthetic disc nucleus devices are expensive and at times, not affordable for a large pool of population in developing and undeveloped countries. Hence, high cost of prosthetic disc nucleus is a major factor that is likely to hamper the global motion preservation devices market.
  • Thus, expensive implants and high procedure cost are likely to restrain the prosthetic disc nucleus market during the forecast period

Prosthetic Disc Nucleus Market: Competition Landscape

  • This report profiles major players in the global prosthetic disc nucleus market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global prosthetic disc nucleus market is highly consolidated, with few players holding majority of market share in global market
  • Leading players operating in the global prosthetic disc nucleus market include
    • Stryker Corporation
    • Zimmer Biomet Holdings, Inc
    • DePuy Synthes (Johnson & Johnson)
    • NuVasive, Inc.
    • Orthofix International N.V.
    • Replication Medical, Inc.
    • Spine Wave, Inc.

Prosthetic Disc Nucleus Market: Key Developments

  • Key players in the global prosthetic disc nucleus market are engaged in regulatory approvals, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the global prosthetic disc nucleus market. A few expansion strategies adopted by players operating in the global prosthetic disc nucleus market are:
  • In March 2018, Orthofix International N.V. acquired Spinal Kinetics, Inc., a leading developer and manufacturer of cervical and lumbar disc devices. The spinal kinetics product portfolio comprises M6-C cervical and M6-L lumbar artificial discs for patients with degenerative disc disorders.
  • In November 2018, Xian Janssen (Janssen Global Services, LLC) and Ali Health signed a strategic cooperation agreement to establish a new model of Internet health services. Johnson & Johnson's pharmaceutical subsidiary Xian Yangsen Pharmaceutical Co., Ltd. (Janssen Global Services, LLC) announced that it is working with Alibaba Group's flagship platform in the field of medical health.
  • The report on the global prosthetic disc nucleus market discussed individual strategies, followed by company profiles of manufacturers of prosthetic disc nucleus. The competitive landscape section has been included in the report to provide readers with a dashboard view of key players operating in the global prosthetic disc nucleus market.

Prosthetic Disc Nucleus Market – Scope of the Report

TMR’s report on the global prosthetic disc nucleus market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period, 2020 to 2030 The report provides the overall value (US$ Mn) of the global prosthetic disc nucleus market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global prosthetic disc nucleus market for the forecast period.

The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global prosthetic disc nucleus market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global prosthetic disc nucleus market.

The report comprises an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on changing competitive dynamics in the global prosthetic disc nucleus market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global prosthetic disc nucleus market. The next section of the global prosthetic disc nucleus market report highlights the USPs, which include disease prevalence and incidence rate of degenerative spine diseases, and impact of COVID-19 on the global prosthetic disc nucleus market.

The report delves into the competition landscape of the global prosthetic disc nucleus market. Key players operating in the global prosthetic disc nucleus market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global prosthetic disc nucleus market report.

Key Questions Answered in Global Prosthetic Disc Nucleus Market Report

  1. What is the sales/revenue generated by the global prosthetic disc nucleus market across all the regions during the forecast period?
  2. What are the key trends in the global prosthetic disc nucleus market?
  3. What are the major drivers, restraints, and opportunities in the global market?
  4. Which region is set to expand at the fastest CAGR during the forecast period?
  5. Which segment will have the highest revenue globally in 2030 and which surgery type will expand at the fastest CAGR during the forecast period?

Prosthetic Disc Nucleus Market – Research Objectives and Research Approach

The comprehensive report on the global prosthetic disc nucleus market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and health care compliances laid down by accredited agencies in the purview of research in the global prosthetic disc nucleus market. It is followed by market introduction, market dynamics, and an overview of the global prosthetic disc nucleus market, which includes TMR analysis of market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the prosthetic disc nucleus market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into smaller sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

Revenue generated by key prosthetic disc nucleus manufacturers has been mapped to ascertain the size of the global prosthetic disc nucleus market in terms of value. The forecast presented here assesses the total revenue generated in the prosthetic disc nucleus market. In order to provide an accurate forecast, we initiated by sizing up the current prosthetic disc nucleus market with the help of the parent market.

The report analyzes the global prosthetic disc nucleus market in terms of surgery type, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global prosthetic disc nucleus market.

Prosthetic Disc Nucleus Market – Segmentation

Surgery Type

  • Minimally Invasive Spine Surgery
  • Open Spine Surgery

End User

  • Hospitals
  • Ambulatory Surgery Centers
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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