Lumbar Disc Replacement Device Market

Increasing incidence of spinal disorders and increasing awareness among patients about disc replacement are expected to drive growth market

SEATTLE, WASHINGTON, UNITED STATES, February 8, 2022 /EINPresswire.com/ -- Lumbar Disc Replacement Device Market Research focuses on the key trends prevailing in the Global Lumbar Disc Replacement Device Industry sector. The existing Industry scenario has been studied and future projections with respect to the sector have also been investigated. Market study report comprises evaluation of numerous influential factors including industry overview in terms of historic and present situation, key manufacturers, product/service application and types, key regions and marketplaces, forecast estimation for global market share, revenue and CAGR.

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The outbreak of COVID-19 disease has negatively impacted lumbar disc replacement device market due to delay in non-emergency procedures. In response to the COVID-19 pandemic in the U.S., most of the spine surgeries are suspended in order to avoid non-essential surgeries. According to an article published in Journal of Orthopedic Surgery and Research, in June 2020, the Saudi Spine Society released a set of guidelines to control the spread of novel coronavirus infection.

The guidelines include spine surgery candidates be categorized into three categories category A (immediate), category B (urgent), and category C (elective). Category A (immediate) includes patients who need immediate surgical intervention within 24 h. Category B (urgent) includes patients who require urgent surgical intervention, generally within 72 h. Category C (elective) includes patients suffering from chronic or sub-acute spine disorders, other than oncological or infectious diseases, who may eventually need surgical intervention. This basic protocol with different levels of care are developed to help hospital systems, especially departments dealing with spine patients, to provide optimal care and to help spine care practitioners and patients to cope with the COVID-19 situation as well.

Growing patient pool of lower back pain around the globe is the key factor expected to propel growth of the market. Moreover, patients who does not get relief form non-surgical treatment methods are recommended to adopt lumbar disc replacement by doctors. In 2019, according to the AME journal prevalence of lumbar spinal stenosis (LSS) is around 200,000 adult patients in the U.S, and it is expected to reach around 64 million by the year 2025.

Additionally, the lumbar disc replacement device market is very niche and consolidated market. Moreover the U.S Food and Drug Administration (FDA) have approved only three lumbar total disc replacement devices. There are several other lumbar disc that have been developed by companies without the U.S. FDA approval. SB Charite III lumbar disc was the first lumbar disc approved by the U.S FDA in 2004. Later, this lumbar disc was discontinued from the market because the advanced version of INMOTION is launched in the market. The Activ-L, INMOTION (formerly Charite) and ProDisc – L are three lumbar disc available in the market, which are approved by the U.S Food and Drug Administration. Moreover, key players are focused on introducing new products to provide various treatment options for spine related patients.

In addition, key players are focusing on acquisition strategies to expand their product portfolios, which is again projected to propel global lumbar disc replacement devices market growth. For instance, Centinel Spine in October 2017, entered into an asset purchase agreement to acquire ProDisc Total Disc Replacement portfolio from DePuy Synthes.

Browse 20 Market Data Tables and 17 Figures spread through 102 Pages and in-depth TOC on “Global Lumbar Disc Replacement Device Market, Forecast to 2027"

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On the other hand, high cost of spinal disease treatments such as lumbar disc replacement and spinal fusion are projected to hinder the market growth over the forecast period. For instance, the average cost of specific disc replacement surgery procedure ranges between US$ 16,000 to US$ 46,000 in different states of the U.S.

Key Takeaways of the Global Lumbar Disc Replacement Device Market:

The global lumbar disc replacement device market is expected to exhibit a CAGR of 13.5% over the forecast period (2020-2027), due to growing spine related health issues globally

Among material, metal-on-biopolymer segment is projected to hold dominant position in the global lumbar disc replacement device market, due to growing focus of key players to introduce advanced devices for the treatment of spine associated medical condition

Major players operating in the global lumbar disc replacement device market include AxioMed, Medtronic, B.Braun Melsungen, Stryker Corporation, DePuy Synthes, NuVasive Inc., Paradigm Spine LLC, and Zimmer Biomet

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