Artificial Cervical Intervertebral Disc Market Research Report and Outlook by 2028

The market for artificial cervical intervertebral discs is projected to expand significantly, with an anticipated increase from US$ 1,621.66 million in 2022 to US$ 4,375.29 million by 2028. This growth represents a compound annual growth rate (CAGR) of 18.0% over the period from 2022 to 2028.

Several factors contribute to this market expansion, notably the rising incidence of cervical injuries and the growing elderly population. However, the high expenses associated with cervical intervertebral disc surgeries pose a challenge to the market's growth.

The aging process has a significant impact on the cervical spine, neck, shoulders, upper back, and arms. Cervical spondylosis, which refers to the age-related degeneration of spinal discs in the neck, becomes more prevalent as individuals age. According to the American Academy of Orthopaedic Surgeons, over 85% of individuals over the age of 60 are affected by cervical spondylosis. As people age, the vertebral discs, which act as shock absorbers, gradually lose hydration and strength. Projections indicate that the number of Americans aged 65 and older will double from 52 million in 2018 to 95 million by 2060, with the proportion of this age group increasing from 16% to 23%. In the UK, approximately 12 million individuals aged 65 and above were reported in 2019, with a significant number being 75 years or older. Japan, recognized as a 'super-aged' society, has 28.7% of its population aged 65 or older. This demographic trend is expected to drive the demand for artificial cervical intervertebral discs.

Companies operating in the artificial cervical intervertebral disc sector are actively engaging in research and development to launch innovative products. New replacement therapies are facilitating the integration of advanced technologies, thereby enhancing procedural outcomes. For example, in April 2021, the US Food and Drug Administration (FDA) approved the NuVasive Simplify Cervical Artificial Disc for two-level cervical total disc replacement (cTDR). Similarly, in August 2020, Orthofix Medical Inc. received FDA approval for its M6-C artificial cervical disc, designed to replace intervertebral discs damaged by degeneration and restore normal spinal motion. Furthermore, in May 2018, Zimmer Biomet obtained approval from Japan's Ministry of Health, Labour and Welfare for its Mobi-C Cervical Disc, the first cervical disc prosthesis approved by the FDA for reconstruction at one and two levels (C3-C7). Such advancements are reshaping the landscape of the artificial cervical intervertebral disc market.

Despite rising manufacturing costs, medical device manufacturers are striving to generate sufficient revenue to satisfy their investors. Emerging markets in developing nations present significant opportunities for major players to broaden their business and geographic presence. The treatment of orthopedic conditions has been simplified through advanced medical technologies. Minimally invasive procedures, such as artificial cervical intervertebral disc replacement surgery, have reduced the reliance on high-dose medications. The adoption of these orthopedic surgeries is expected to rise in developing regions like Asia Pacific and the Middle East & Africa, where investments in healthcare are increasing and awareness of minimally invasive orthopedic surgeries is being promoted. Countries such as India, China, and the UAE are witnessing a surge in healthcare spending, creating substantial opportunities. The growing adult and elderly populations in these regions are likely to lead to an increase in orthopedic conditions. Additionally, the rise of start-up companies in the healthcare sector in countries like India and China, along with the availability of advanced technological infrastructure, is expected to support local manufacturers in producing innovative orthopedic products. Consequently, the market in developing nations is poised for significant growth.

End User Insights

The artificial cervical intervertebral disc market is categorized based on material and end user. In terms of end users, the market is divided into hospitals, ambulatory surgical centers, and others. In 2022, the hospitals segment is projected to dominate the market share. Hospitals provide healthcare services equipped with specialized scientific equipment, and various medical research teams are continuously working on innovative treatment technologies. Most surgeries are conducted in hospitals due to the need for ongoing patient care and monitoring. Additionally, increasing government funding for hospitals and the rising number of patient hospitalizations are driving market growth.

Conversely, ambulatory surgical centers (ASCs) are expected to exhibit the fastest CAGR of 18.5% from 2022 to 2028. ASCs, also known as outpatient care centers, offer a range of outpatient services, including diagnosis, treatment, consultation, and intervention. They provide various medical services such as laboratory services, imaging, and observation beds. ASCs are known for their cost-effective services and less stressful environments compared to hospitals. Patients typically undergo one-day procedures in advanced operating rooms and recover under the care of skilled healthcare professionals without requiring hospital admission. Therefore, the high-quality care, affordable treatment options, and improved access provided by ASCs are likely to contribute to the segment's growth.

Key sources referenced in the preparation of the report on the artificial cervical intervertebral disc market include the Centers for Disease Control and Prevention, Association of Indian Medical Device Industry, Australian Institute of Health and Welfare, German Arthroplasty Registry, and Hindustan Syringes and Medical Devices.