Report : North America 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)
At 18.1% CAGR, the North America Artificial Cervical Intervertebral Disc Market is speculated to be worth US$ 1,557.82 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America artificial cervical intervertebral disc market was valued at US$ 572.89 million in 2022 and is expected to reach US$ 1,557.82 million by 2028, registering an annual growth rate of 18.3% from 2022 to 2028. Rising aging population and increasing incidences of cervical injuries 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. As per the American Academy of Orthopaedic Surgeons, over 85% of people more than 60 years of age are affected by cervical spondylosis. With age, the vertebral discs that serve as shock absorbers gradually dry out and affect the strength. As per the Factsheet, the number of Americans aging 65 and older in 2018 is estimated to double from 52 million to 95 million by 2060. It is also estimated that the 65-and-older age groups will rise from 16% to 23%. 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 North America artificial cervical intervertebral disc market.
The North America artificial cervical intervertebral disc market, based on material, has been bifurcated into biopolymer material and metal material. The biopolymer material segment held 63.2% market share in 2022, amassing US$ 362.20 million. It is projected to garner US$ 974.75 million by 2028 to expand at 17.9% CAGR during 2022–2028.
The North America artificial cervical intervertebral disc market based on end user is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held 48.8% market share in 2022, amassing US$ 279.62 million. It is projected to garner US$ 767.30 million by 2028 to expand at 18.3% CAGR during 2022–2028.
Based on country, the North America artificial cervical intervertebral disc market is fragmented into the US, Canada, and Mexico. Our regional analysis states that US captured 78.5% market share in 2022. It was assessed at US$ 449.75 million in 2022 and is likely to hit US$ 1,232.39 million by 2028, exhibiting a CAGR of 18.3% during the forecast period.
Key players dominating the North America artificial cervical intervertebral disc market are AxioMed LLC; B. Braun Melsugen AG.; Centinel Spine, LLC; Globus Medical, Inc.; Medtronic; NuVasive, Inc.; Orthofix Medical, Inc.; Synergy Spine Solutions, Inc.; and Zimmer Biomet Holdings, Inc. among others.
- In Dec 2021, AxioMed viscoelastic lumbar and cervical artificial disc replacements are widely anticipated in the USA and internationally as a significant advance in artificial disc replacement technology. The company stands as the only viscoelastic total disc replacement to complete a US IDE Clinical study in the USA and will be only one of three discs expected to be on the market in 2022. Over 3,700 pages of Module I documents was submitted to the FDA at the end of October 2021. The clinical data was robust, with no reported device-related failures, revisions, and rare cases of heterotopic bone formation
In Aug 2021, Orthofix Medical’s first patient implant in a U.S. Food and Drug Administration (FDA) IDE clinical study that evaluated the safety and effectiveness of the M6-C artificial cervical disc compared to anterior cervical discectomy and fusion (ACDF) for the treatment of contiguous two-level symptomatic cervical radiculopathy.