Report : South and Central 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 17.2% CAGR, the South & Central America Artificial Cervical Intervertebral Disc Market is speculated to be worth US$ 279.70 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America artificial cervical intervertebral disc market was valued at US$ 107.89 million in 2022 and is expected to reach US$ 279.70 million by 2028, registering an annual growth rate of 17.2% from 2022 to 2028. Increasing incidences of cervical injuries and growing number of product approvals and developments are the critical factors attributed to the market expansion.
Trauma is the major contributor to cervical injuries, including vehicle accidents, penetrating or blunt trauma, falls, and sports or diving injuries. Further, most sports injuries are orthopedic injuries, including strains, sprains, fractures, broken ligaments, pain, and swelling; these may be acute or chronic. The incidence of sports injuries increases with increased participation in sports and active participation in fitness activities due to the growing focus on healthy living. Therefore, the demand for the artificial cervical intervertebral disc is increasing due to the rising incidences of cervical injuries.
On the contrary, high cost of cervical intervertebral disc surgeries hurdles the growth of South & Central America artificial cervical intervertebral disc market.
The South & Central America artificial cervical intervertebral disc market, based on material, has been bifurcated into biopolymer material and metal material. The biopolymer material segment held 62.2% market share in 2022, amassing US$ 67.14 million. It is projected to garner US$ 172.24 million by 2028 to expand at 17.0% CAGR during 2022–2028.
The South & Central America artificial cervical intervertebral disc market based on end user is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held 49.1% market share in 2022, amassing US$ 53.00 million. It is projected to garner US$ 138.69 million by 2028 to expand at 17.4% CAGR during 2022–2028.
Based on country, the South & Central America artificial cervical intervertebral disc market is fragmented into Brazil, Argentina, and rest of South & Central America. Our regional analysis states that Brazil captured 58.8% market share in 2022. It was assessed at US$ 63.42 million in 2022 and is likely to hit US$ 168.15 million by 2028, exhibiting a CAGR of 17.6% during the forecast period.
Key players dominating the South & Central America 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.