Artificial Disc Market to grow at 21% CAGR from 2016 to 2024: Global Market Insights Inc. The medical industry report “Artificial Disc Market Size By Type (Cervical Artificial Disc, Lumbar Artificial Disc), By Material (Metal on Metal, Metal on Biopolymer), Industry Analysis Report, Regional Outlook (US, Canada, UK, Germany, France, Spain, Italy, Japan, China, India, Mexico, Brazil, South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc. says Artificial Disc Market size is set to exceed USD 4.5 billion by 2024. Technological breakthroughs coupled with rise in research activities for treating degenerative disc ailments will push artificial discs market size. In addition to this, reduction in re-operation costs related to artificial discs will further push the industry trends. High occurrence of disc degenerative ailments along with the rise in disc surgeries is anticipated to influence business expansion. Furthermore, the growing demand for minimally invasive surgeries is another strong factor expected to fuel the product demand over the years to come.
Cervical artificial discs and Lumbar artificial discs are the two major types of artificial discs. Cervical artificial discs, which accounted for 65% of artificial discs industry share in 2015, will witness a high surge over the years to come. Increase in disc operations along with easy availability of cervical artificial discs will favorably impact the business. Lumbar disc replacement is highly popular treatment alternative among the patients suffering from severe back pain problems. Lumbar artificial discs market, having collected USD 240 million in 2015, is expected to witness high surge over the coming seven years, driven by its extensive demand across developed countries such as the U.S. Below are the geographical trends influencing global artificial discs market over 2016-2024: •
•
U.S. artificial discs market, estimated at USD 360 million in 2015, is expected to exceed USD 2 billion by 2024. Beneficial compensation policies, high investments in the healthcare sector, and rise in per capita income are few of the key factors projected to drive the revenue. Improved healthcare facilities and rising demand for advanced products is expected to propel Japan artificial discs industry size over the coming timeframe, having contributed over 25% of the overall revenue in 2015.
1|Page