Prosthetic Disc Nucleus Market: Increasing Demand for Minimally Invasive Procedures to Augment Market
Prosthetic Disc Nucleus Market: Introduction
According to the report, the global prosthetic disc nucleus market was valued at ~US$ 92 Mn in 2019. It is projected to expand at a moderate CAGR during the forecast period. Prosthetic disc nucleus is hydrogel-based spinal implant used as an adjunct treatment for patients with degenerative disc disorder and herniation, where surgical intervention is the only option.
Prosthetic disc nucleus offers an alternative, cost-effective, and minimally invasive procedure to total disc replacement. In 1996, C.D. Ray introduced the first PDN device, which was the first nucleus replacement device designed to replace the functions of the disc that were lost through degeneration. The global prosthetic disc nucleus market is driven by rise in prevalence of spine disorders across globe, increase in global geriatric population, and high demand for minimally invasive surgeries across the globe.
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North America dominated the global prosthetic disc nucleus market in 2019, followed by Europe, and the trend is anticipated to continue during the forecast period. The region’s dominance can be ascribed to the high prevalence and rise in incidence rates of degenerative disc disorder, well-established healthcare industry, and increase in geriatric population in the region.
High Prevalence and Rising Incidence of Spine Disorders to Drive Global Market
The increase in incidence of spinal disorders, such as degenerative disc diseases and spinal stenosis, has fueled the usage of spine implants. An estimated 266 million people are affected with lumbar degenerative spine disorder and low back pain each year. According to Hebrew SeniorLife Institute for Aging Research, around one-third of people aged between 40 and 59 are affected with moderate to severe degenerative disc disorder and around half of the population is affected with moderate to severe osteoarthritis. The prevalence of disc height narrowing and joint osteoarthritis increased by 2 to 4 times in people aged between 60 and 69 years and 70 and 89 years, respectively.
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Disorders of the spine are an important health and social issue, as these are major contributors to disability globally. Respondents often report a spine disorder as lower back pain, irrespective of the actual diagnosis or cause of the condition. Thus, high prevalence and rise in incidence rate of spine disorder across the globe is a prominent factor projected to boost the prosthetic disc nucleus market during the forecast period.
Prosthetic Disc Nucleus Market: Prominent Regions
In terms of region, the global prosthetic disc nucleus market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global prosthetic disc nucleus market in 2019, followed by Europe. The U.S. dominated the prosthetic disc nucleus market in North America in 2019, due to the presence of key players, technological advancements, adoption of minimally invasive surgeries, and adequate reimbursement policies. This, in turn, is estimated to boost the market in the region. The prosthetic disc nucleus market in Asia Pacific is likely to expand at a notable CAGR from 2020 to 2030. The expansion of the market in the region can be attributed to the adoption of new technologies, high awareness, significant healthcare spending, early availability of advanced technologies, and penetration of research activities across the region.
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Strategic Acquisitions and Collaborations by Key Players to Drive Global Market
The global prosthetic disc nucleus market is consolidated in terms of number of players. The market is dominated by key players with strong geographic presence. Key players operating in the global prosthetic disc nucleus market include Stryker Corporation, Zimmer Biomet Holdings, Inc, DePuy Synthes (Johnson & Johnson), NuVasive, Inc, and Orthofix International N.V. In March 2018, Orthofix International N.V. acquired Spinal Kinetics, Inc., a leading developer and manufacturer of cervical and lumbar disc devices.
The spinal kinetics product portfolio comprises M6-C cervical and M6-L lumbar artificial discs for patients with degenerative disc disorders. In November 2018, Xian Janssen (Janssen Global Services, LLC) and Ali Health signed a strategic cooperation agreement to establish a new model of Internet health services. Johnson & Johnson's pharmaceutical subsidiary Xian Yangsen Pharmaceutical Co., Ltd. (Janssen Global Services, LLC) announced that it is working with Alibaba Group's flagship platform in the field of medical health.
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