The artificial disc replacement market is expexted to surpass $1.3 billion by 2030, according to Vantage Market Research.
Five notes:
1. The disc replacement market, which was valued at $600 million in 2022, is projected to grow 12.3 percent between 2023 to 2030, according to a Sept. 25 news release.
2. One of the main growth-driving factors is the uptick in degenerative disc disease cases. Cervical disc replacement in 2022 saw the largest share of the market.
3. North America led the artificial disc replacement market in 2022, and the Asia-Pacific region is expected to see the fastest growth between 2023 and 2030.
4. Top companies in the disc replacement market include Medtronic, Orthofix and Aesculap.
5. Additional growth factors named include a growing aging population, advancements in disc replacement technology and the increased preference for motion preservation instead of spinal fusion.