Hospitals Segment to Lead Artificial Cervical Intervertebral Disc Market During 2022-2028

According to our latest study on "Artificial Cervical Intervertebral Disc Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material and End User," the market is expected to grow from US$ 1,621.66 million in 2022 to US$ 4,375.29 million by 2028; it is estimated to grow at a CAGR of 18.0% from 2022 to 2028. The report highlights the key factors and trends impacting the market and focuses on prominent players and their strategies.

Cervical artificial disc, also known as disc prosthesis, disc replacement, or spine arthroplasty device, is inserted between two vertebrae in the neck through disc replacement surgery to imitate the functions of a normal disc that carries load and allows motion. This surgery is generally performed in patients with a cervical disc herniation. The cervical artificial disc reduces the degradation of adjacent segments of the cervical spine and preserves normal neck motion while maintaining mobility and function.

The increasing incidences of cervical injuries and a rise in aging population drive the artificial cervical intervertebral disc market growth. The aging process affects the 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; the condition worsens with age. As per the American Academy of Orthopaedic Surgeons, over 85% of people of age more than 60 are affected by cervical spondylosis. With age, the vertebral discs that serve as shock absorbers gradually dry out and its strength gets affected.

As per the Fact Sheet: Aging in the United States, the number of individuals aged 65 and older in the country is estimated to reach ~95 million by 2060 from 52 million in 2018, and its share in the total population is likely to spike up to 23% from 16%. Additionally, Japan is another aging nation, with 28.7% of its population being 65 or older. The country's "super-aged" society is the oldest globally.

Based on end user, the artificial cervical intervertebral disc market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment is likely to hold the largest share of the market in 2022. However, the ambulatory surgical centers is expected to register the highest CAGR during 2022 to 2028. The hospital provides healthcare facilities through specialized scientific equipment. The team of trained staff is assigned to deal with the problems associated with modern medical science in the hospital, to and restore the normal body functions. Various medical research teams are constantly working for introducing innovative therapeutic technologies. Hospitals offer advanced treatment options for patients to treat chronic, and hard-to-heal wounds and surgeries. Most of the surgeries are performed in hospitals, owing to continuous patient care and monitoring. Also, growing government funding for hospitals and rising hospitalization of patients support the growth of the market for the hospitals segment.

Impact of COVID-19 Pandemic on Artificial Cervical Intervertebral Disc Market

COVID-19 pandemic has impacted the growth of the artificial cervical intervertebral disc market in negative manner. During the lockdown periods, the healthcare industry encountered unprecedented challenges. Manufacturing units were closed, affecting the production of medical devices and other equipment. Moreover, the supply chains of medical products were disrupted, resulting in an increase in warehouse inventory of manufactured products. Doctors and surgeons with personal clinics faced difficulty due to the shutdown of operational facilities. Similarly, 62% of healthcare practitioners in the US experienced salary issues during the outbreak. The impact of the COVID-19 pandemic is related to the possibility of postponing disc replacement surgeries due to several factors such as reallocation of hospital resources, such as nursing staff and ICU beds, for the care of COVID patients, and the cancellation of elective surgeries to reduce the chances of disease spread.

Zimmer Biomet Holdings, Inc.; Globus Medical, Inc.; Centinel Spine, LLC; Synergy Spine Solutions, Inc.; B. Braun Melsugen AG; Aditus Medical; AxioMed LLC; NuVasive, Inc.; Medtronic; and Orthofix Medical, Inc. are among the key players operating in the artificial cervical intervertebral disc market.

The report segments the artificial cervical intervertebral disc market as follows:

The artificial cervical intervertebral disc market is segmented on the basis of material, end user, and geography. Based on material, the market is segmented into biopolymer material and metal material. By end user, the artificial cervical intervertebral disc market is segmented into hospitals, ambulatory surgical centers, and others. Geographically, the artificial cervical intervertebral disc market has been segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), APAC (China, India, Japan, Australia, South Korea, and Rest of APAC), the MEA (Saudi Arabia, UAE, South Africa, and Rest of MEA), and SCAM (Brazil, Argentina, and Rest of SCAM).

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