The global artificial disc market is set to increase at a compound annual growth rate of 15 percent through 2023, according to a Market Research Future report.
Here are four insights:
1. The increasing number of degenerative spine condition cases as well as a growing aging population will boost the artificial disc replacement market.
2. The demand for minimally invasive procedures over traditional fusions will also boost market growth.
3. Artificial discs' costliness as well as unfavorable reimbursements will hinder market growth, however.
4. Key market players include Alphatec Spine, Medtronic, DePuy Synthes, Stryker, Smith & Nephew, Orthovita, Globus Medical, Zimmer Biomet, Aesculap Implant Systems and NuVasive.