Report : Asia Pacific Artificial Cervical Intervertebral Disc Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material (Biopolymer Material and Metal Material) and End User (Hospitals, Ambulatory Surgical Centers, and Others)
According to Business Market Insights’ research, the Asia Pacific artificial cervical intervertebral disc market was valued at US$ 369.24 million in 2022 and is expected to reach US$ 1,023.15 million by 2028, registering an annual growth rate of 18.5% from 2022 to 2028. Rising aging population and high market potential in developing economies are the critical factors attributed to the market expansion.
The aging process affects the cervical spine, neck, shoulders, upper back, and arms. Cervical spondylosis is a term for age-related wear and tear of the spinal disks in the neck. Cervical spondylosis is a common disease and worsens with age. With age, the vertebral discs that serve as shock absorbers gradually dry out and affect the strength. As per the Factsheet, Japan is another aging nation. The country’s 'super-aged' society is the oldest, with 28.7% of its population being 65 or older. Thus, the growing aging population is likely to increase the demand for artificial cervical intervertebral discs.
On the contrary, high cost of cervical intervertebral disc surgeries hurdles the growth of Asia Pacific artificial cervical intervertebral disc market.
The Asia Pacific artificial cervical intervertebral disc market, based on material, has been bifurcated into biopolymer material and metal material. The biopolymer material segment held 62.7% market share in 2022, amassing US$ 231.40 million. It is projected to garner US$ 634.47 million by 2028 to expand at 18.3% CAGR during 2022–2028.
The Asia Pacific artificial cervical intervertebral disc market based on end user is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held 49.0% market share in 2022, amassing US$ 180.86 million. It is projected to garner US$ 505.72 million by 2028 to expand at 18.7% CAGR during 2022–2028.
Based on country, the Asia Pacific artificial cervical intervertebral disc market is fragmented into Japan, China, India, Australia, South Korea, and rest of Asia Pacific. Our regional analysis states that China captured 27.5% market share in 2022. It was assessed at US$ 101.50 million in 2022 and is likely to hit US$ 288.16 million by 2028, exhibiting a CAGR of 19.0% during the forecast period.
Key players dominating the Asia Pacific artificial cervical intervertebral disc market are B. Braun Melsugen AG.; Globus Medical, Inc.; Medtronic; NuVasive, Inc.; Orthofix Medical, Inc.; and Zimmer Biomet Holdings, Inc. among others.