The rising incidence of degenerative disc diseases is fueling the demand for artificial discs across the world. According to the observations of the National Center for Biotechnology Information (NCBI), which is a branch of the U.S. government’s National Institutes of Health, 266 million people around the world are diagnosed with lumbar degenerative disc disease every year, with Europe recording the highest incidence of the disease (5668 people out of every 100,000 individuals).
Additionally, these discs have various long-term cost benefits over the conventional spinal fusion procedures, which is further boosting their popularity around the world. Moreover, in artificial disc replacement procedure, surgery is required only one-time unlike the spinal fusion procedure, which requires several surgeries over a certain period of time.
This was less than the average cost of anterior cervical discectomy and fusion (ACDF) for the same duration, that is, $39,000. Due to these factors, the popularity of artificial disc replacement is surging sharply, which is, in turn, fueling the expansion of the global artificial disc market.Artificial disc replacement procedures are required for treating both cervical and lumbar disc degenerative diseases. Between these, the demand for these procedures was found to be higher for treating cervical disc degenerative diseases .This is credited to the high incidence of cervical-related health issues across the world.
In the forthcoming years, the demand for artificial disc replacement procedures is predicted to surge sharply in the Asia-Pacific (APAC) region. This is attributed to the soaring population of geriatric people, increasing healthcare expenditure, and surging investments being made by private and public companies in the healthcare sector in the region. Moreover, with the growing prevalence of degenerative disc diseases, many artificial disc producing companies are focusing on mergers and acquisitions in order to cater to the mushrooming demand for artificial disc replacement procedures.
Hence, it can be safely said that the demand for artificial discs will rise sharply in the upcoming years, mainly because of the increasing incidence of degenerative disc diseases and surging population of geriatric people in several countries.