Global Lumbar Disc Replacement Devices Market to Exhibit Significant Growth at a CAGR of ~9% by 2030 | DelveInsight
The increasing demand for lumbar disc replacement devices is mainly driven by the rising incidence of bone-related disorders such as osteoporosis and arthritis. Moreover, the expanding geriatric population is a significant factor contributing to the positive growth of the lumbar disc replacement devices market throughout the forecast period from 2024 to 2030.
LAS VEGAS, Aug. 27, 2024 /PRNewswire/ -- DelveInsight's Lumbar Disc Replacement Devices Market Insights report provides the current and forecast market analysis, individual leading lumbar disc replacement devices companies' market shares, challenges, lumbar disc replacement devices market drivers, barriers, trends, and key market lumbar disc replacement devices companies in the market.
Key Takeaways from the Lumbar Disc Replacement Devices Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global lumbar disc replacement devices market during the forecast period.
- In the product segment of the lumbar disc replacement devices market, the metal-on-metal category had a significant revenue share in the lumbar disc replacement devices market in 2023. This can be attributed to the various advantages and applications provided by metal-on-metal lumbar disc replacement devices.
- Notable lumbar disc replacement devices companies such as Stryker, Zimmer Biomet, Johnson and Johnson Services, Inc., Medtronic, Globus Medical, B. Braun Melsungen AG, Orthofix Medical Inc., NuVasive Inc., Centinel Spine®, SYNERGY SPINE SOLUTIONS INC., AxioMed LLC, Spineart, NEURO FRANCE Implants, Norm Medical Devices Co. Ltd., Ackermann Medical GmbH & Co. KG, Aditus Medical, Evospine GmbH, Prodorth Spine, SIGNUS Medizintechnik GmbH, Spine Innovations SAS, and several others, are currently operating in the lumbar disc replacement devices market.
- In June 2023, Orthofix US LLC announced the launch of WaveForm, an interbody for Anterior Lumbar Interbody Fusion (ALIF) procedures. It smoothly integrates with its Meridien ALIF System, for the treatment of patients in need of fusion due to degenerative disc disease.
- In January 2023, Centinel Spine LLC announced the utilization of a new Current Procedural Terminology (CPT) code while performing two-level lumbar total disc replacement (TDR) for individuals experiencing degeneration of the intervertebral discs. It is the only total disc replacement system in the U.S., approved for two-level use in the lumbar spine.
To read more about the latest highlights related to the lumbar disc replacement devices market, get a snapshot of the key highlights entailed in the Global Lumbar Disc Replacement Devices Market Report
Lumbar Disc Replacement Devices Overview
Lumbar disc replacement devices are advanced medical implants designed to treat chronic lower back pain caused by degenerative disc disease. These devices serve as artificial substitutes for damaged intervertebral discs in the lumbar spine, aiming to restore normal disc function, maintain motion, and provide pain relief. Typically made from biocompatible materials like metal and plastic, these implants are inserted between the vertebrae after the removal of the degenerated disc. Unlike traditional spinal fusion surgery, which permanently connects vertebrae and restricts movement, lumbar disc replacement seeks to preserve the natural range of motion in the spine. This approach can lead to a quicker recovery, reduced adjacent segment degeneration, and overall improved patient outcomes.
The development and implementation of lumbar disc replacement devices have been driven by advancements in biomechanics, materials science, and surgical techniques. Modern devices are designed to closely mimic the natural biomechanics of a healthy intervertebral disc, providing stability and flexibility. Clinical studies have shown promising results, with many patients experiencing significant pain relief and improved mobility post-surgery. However, the success of these devices can depend on various factors, including patient selection, the severity of disc degeneration, and the surgeon's expertise. While lumbar disc replacement is not suitable for everyone, it represents a significant innovation in the treatment of spinal disorders, offering an alternative to those seeking to maintain an active lifestyle post-surgery.
Lumbar Disc Replacement Devices Market Insights
In 2023, North America held the largest share of the lumbar disc replacement devices market among all regions. This is primarily due to a substantial patient population suffering from arthritis and osteoporosis. Additionally, factors such as the increasing number of sports-related injuries, a growing elderly population, and the presence of advanced healthcare infrastructure are key drivers of market growth in the region.
According to the Centers for Disease Control and Prevention (CDC), approximately 53.2 million people (21.2%) in the United States were diagnosed with bone disorders like spinal arthritis and rheumatoid arthritis between 2019-2021. The rising prevalence of such bone-related disorders necessitates effective management and treatment, thereby contributing to the positive growth of the lumbar disc replacement devices market in the United States.
A 2023 study published by the American Academy of Orthopedic Surgeons, titled "Epidemiology of Sports Injuries Among High School Athletes in the United States," estimated that 15,531 injuries occurred during 6,778,209 athletic exposures (AEs), resulting in an injury rate of 2.29 per 1,000 AEs between 2015-2019. This increase in sports-related injuries is a significant factor driving the growth of the lumbar disc market in the United States, which in turn supports the overall lumbar disc replacement devices market expansion in North America during the forecast period.
To know more about why North America is leading the market growth in the lumbar disc replacement devices market, get a snapshot of the Lumbar Disc Replacement Devices Market Outlook
Lumbar Disc Replacement Devices Market Dynamics
The lumbar disc replacement devices market is experiencing significant growth, driven by advancements in medical technology and an increasing prevalence of degenerative disc diseases. As the global population ages, the incidence of spinal disorders rises, leading to a higher demand for effective treatments that can alleviate pain and restore mobility. Lumbar disc replacement offers an attractive alternative to traditional spinal fusion surgery, promising to preserve motion and reduce adjacent segment degeneration, which has bolstered its adoption among both patients and healthcare providers.
Technological innovations are playing a pivotal role in shaping the lumbar disc replacement market. Manufacturers are focusing on developing next-generation devices that mimic the natural biomechanics of the spine, offering better outcomes and longer durability. These advancements include the use of biocompatible materials and the integration of minimally invasive surgical techniques, which not only enhance the effectiveness of the implants but also reduce recovery times and surgical risks. Companies are also investing heavily in research and development to create more personalized and adaptable solutions tailored to individual patient anatomies and needs.
Regulatory approvals and clinical studies are critical to the market dynamics of lumbar disc replacement devices. In many regions, gaining approval from health authorities like the FDA or the European Medicines Agency involves rigorous testing and substantial evidence of safety and efficacy. Successful clinical trials that demonstrate significant improvements in patient outcomes can accelerate market entry and adoption. Conversely, delays or setbacks in regulatory processes can pose significant challenges for manufacturers. As the market becomes more competitive, companies are striving to establish their products' credibility through robust clinical data and strategic partnerships with medical institutions.
Economic factors, including healthcare expenditure and insurance coverage, significantly influence the market for lumbar disc replacement devices. In many countries, the high cost of these devices and procedures can be a barrier to widespread adoption. However, as healthcare systems increasingly recognize the long-term benefits and cost-effectiveness of motion-preserving technologies over fusion surgeries, insurance coverage and reimbursement policies are gradually becoming more favorable. Additionally, the expansion of healthcare infrastructure in emerging markets presents new growth opportunities, as these regions witness a rising demand for advanced medical treatments.
Patient awareness and education also play a crucial role in driving the lumbar disc replacement devices market. As patients become more informed about their treatment options through online resources and patient advocacy groups, they are more likely to seek out and request innovative solutions like lumbar disc replacement. This growing awareness is pushing healthcare providers to stay updated on the latest advancements and incorporate these technologies into their practice. Consequently, effective marketing strategies and educational campaigns by manufacturers can significantly influence patient preferences and, in turn, market dynamics.
Get a sneak peek at the lumbar disc replacement devices market dynamics @ Lumbar Disc Replacement Devices Market Dynamics Analysis
Report Metrics |
Details |
Coverage |
Global |
Study Period |
2021–2030 |
Lumbar Disc Replacement Devices Market CAGR |
~9% |
Key Lumbar Disc Replacement Devices Companies |
Stryker, Zimmer Biomet, Johnson and Johnson Services, Inc., Medtronic, Globus Medical, B. Braun Melsungen AG, Orthofix Medical Inc., NuVasive Inc., Centinel Spine®, SYNERGY SPINE SOLUTIONS INC., AxioMed LLC, Spineart, NEURO FRANCE Implants, Norm Medical Devices Co. Ltd., Ackermann Medical GmbH & Co. KG, Aditus Medical, Evospine GmbH, Prodorth Spine, SIGNUS Medizintechnik GmbH, Spine Innovations SAS, among others |
Lumbar Disc Replacement Devices Market Assessment
- Lumbar Disc Replacement Devices Market Segmentation
- Lumbar Disc Replacement Devices Market Segmentation By Product: Metal-On-Metal, Metal-On-Polymer
- Lumbar Disc Replacement Devices Market Segmentation By End User: Hospitals, Outpatient Surgical Centers, and Others
- Lumbar Disc Replacement Devices Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Which MedTech key players in the lumbar disc replacement devices market are set to emerge as the trendsetter explore @ Lumbar Disc Replacement Devices Companies
Table of Contents
1 |
Lumbar Disc Replacement Devices Market Report Introduction |
2 |
Lumbar Disc Replacement Devices Market Executive Summary |
3 |
Competitive Landscape |
4 |
Regulatory Analysis |
5 |
Lumbar Disc Replacement Devices Market Key Factors Analysis |
6 |
Lumbar Disc Replacement Devices Market Porter's Five Forces Analysis |
7 |
Lumbar Disc Replacement Devices Market Layout |
8 |
Lumbar Disc Replacement Devices Market Company and Product Profiles |
9 |
KOL Views |
10 |
Project Approach |
11 |
About DelveInsight |
12 |
Disclaimer & Contact Us |
Interested in knowing the lumbar disc replacement devices market by 2030? Click to get a snapshot of the Lumbar Disc Replacement Devices Market Trends
Related Reports
Knee Osteoarthritis Pipeline Insight – 2024 report provides comprehensive insights about the pipeline landscape, pipeline drug profiles, including clinical and non-clinical stage products, and the key knee osteoarthritis companies, including Bone Therapeutics, Moebius Medical, UnicoCell Biomed CO. LTD, Gwo Xi Stem Cell Applied Technology, Bioventus LLC, CAR-T (Shanghai) Biotechnology, Novartis, Personalized Stem Cells, Centrexion Therapeutics, Akan Biosciences, Purdue Pharma, Anika Therapeutics, Peptinov SAS, Flexion Therapeutics, Centrexion Therapeutics, Taiwan Liposome Company, Techfields Pharma, AstraZeneca, Ampio Pharmaceuticals, BioIntegrate, Sorrento Therapeutics, Swiss Medica XXI Century S.A., OrthoTrophix, Amzell, Eupraxia Pharmaceuticals, Meluha Life Sciences, Vivex Biomedical, Orient Europharma Co., Ltd., Paradigm Biopharmaceuticals, Abbvie, Galapagos NV, Regeneron Pharmaceuticals, Xalud Therapeutics, Yooyoung Pharmaceutical, Eupraxia Pharmaceuticals, Celltex Therapeutics Corporation, Eli Lilly and Company, Mestex AG, Mitsubishi Tanabe Pharma Corporation, Propella Therapeutics, Biosplice Therapeutics, Jiangsu XinChen-Techfields Pharma Co., LTD., Teva Pharmaceutical Industries, Pfizer, Grünenthal GmbH, PMG Pharm Co., Ltd, Nordic Bioscience A/S, BUZZZ Pharmaceuticals Limited, Antibe Therapeutics, Saol Therapeutics Inc, LG Chem, among others.
Osteoarthritis Market Insights, Epidemiology, and Market Forecast – 2032 report delivers an in-depth understanding of the disease, historical and forecasted epidemiology, as well as the market trends, market drivers, market barriers, and key osteoarthritis companies including Biosplice Therapeutics, Gilead Sciences, Flexion Therapeutics, GlaxoSmithKline, Levicept, Arthrogen, Personalized Stem Cells, Peptinov, Asahi Kasei Pharma, Taiwan Bio Therapeutics, OliPass Corporation, Bioventus, Medipost, Moebius Medical, ReqMed, TissueTech, Novartis, AstraZeneca, Biosplice Therapeutics, Cynata Therapeutics, Bone Therapeutics S.A, Regeneron Pharmaceuticals, Techfields Pharma, Ampio Pharmaceuticals, Taiwan Liposomal Company, K-STEMCELL, Stempeutics, Levolta Pharmaceuticals, among others.
Osteoarthritis Pipeline Insight – 2024 report provides comprehensive insights about the pipeline landscape, pipeline drug profiles, including clinical and non-clinical stage products, and the key osteoarthritis companies, including Biosplice Therapeutics, Gilead Sciences, Flexion Therapeutics, GlaxoSmithKline, Levicept, Arthrogen, Personalized Stem Cells, Peptinov, Asahi Kasei Pharma, Taiwan Bio Therapeutics, OliPass Corporation, Bioventus, Medipost, Moebius Medical, ReqMed, TissueTech, Novartis, AstraZeneca, Biosplice Therapeutics, Cynata Therapeutics, Bone Therapeutics S.A, Regeneron Pharmaceuticals, Techfields Pharma, Ampio Pharmaceuticals, Taiwan Liposomal Company, K-STEMCELL, Stempeutics, Levolta Pharmaceuticals, among others.
Erosive Hand Osteoarthritis Pipeline Insight – 2024 report provides comprehensive insights about the pipeline landscape, pipeline drug profiles, including clinical and non-clinical stage products, and the key erosive hand osteoarthritis companies, including Paradigm Biopharmaceuticals, Abbvie, Galapagos NV, Regeneron Pharmaceuticals, Xalud Therapeutics, Yooyoung Pharmaceutical, among others.
About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
Contact Us
Shruti Thakur
[email protected]
+14699457679
https://www.delveinsight.com/medical-devices
Logo: https://mma.prnewswire.com/media/1082265/DelveInsight_Logo.jpg
SOURCE DelveInsight Business Research, LLP
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article