Global Degenerative Disc Disease Treatment Market Overview
The key driver impacting the degenerative disc disease treatment market is the rapidly aging population with a high prevalence of degenerative disc disease globally. For instance, As per the United Nations Organizations Report, in 2017, the population aged 60 years or above was 962 million in 2017 globally. It is over twice as enormous as in 1980 when there were only 382 million older persons globally. The degenerative disc disease is majorly seen in the geriatric population and has caused low back pain and neck pain in adults. The high prevalence of degenerative disc disease globally is creating a massive demand for degenerative disc disease treatment. The National Center for Biotechnology Information (NCBI), a total of 266 million individuals (3.63%) worldwide were found to have DSD and LBP annually. Moreover, rising product & technological innovation such as multi-level disc replacement contributes to market growth.
According to Value Market Research, the global Degenerative Disc Disease Treatment market size was valued at around USD 1800 million in 2020 and is estimated to grow at a CAGR of about 9% during the forecast period 2021 to 2027.
The long-term cost benefits for a lower re-operation rate for disc replacement are estimated to augment degenerative disc disease treatment demand in the forecast period. However, lack of reimbursement for the disc replacement market in the long run. Also, the high cost of implants is negatively impacting the market. The current industry trends, such as a rising propensity for minimal incision surgery and the Long-term cost benefits for lower re-operation rate for disc replacement, are expected to provide market players with new market opportunities.
The degenerative disc disease treatment market is vast, with many local and global players. The degenerative disc disease treatment market is extensive, with many local and international players. The key leaders follow different strategies to advance their market position, such as extending product portfolio, amalgamation, contracts, product upgrades, and acquisitions, to enlarge their market share across the globe. The significant players studied in the report are Johnson & Johnson, Medtronic Plc., Globus Medical Inc., Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, RTI Surgical Holdings, Inc., Cousin Biotech, Ulrich Medical USA, Inc., Fresenius Kabi AG, and Abbott Laboratories.
In this research report, the degenerative disc disease treatment market is segmented by product type region.
Analysis by Product Type:
By product type, the report is segmented into Drugs (acetaminophen, NSAIDs, oral steroids, muscle relaxants) and devices (cervical spine, lumbar spine, thoracic spine, and spinal fusion. The Drugs segment dominates the technology segment with a 40% share in 2020. It is due to its broad adoption of drugs as it provides immediate pain relief that lasts for a long time with over-the-counter prescriptions or medications and also helps in reducing swelling or inflammation. Moreover, certain drugs(for example, Naproxen sodium) are available as both an immediate release and as an extended-release tablet, so suitable when immediate pain relief is a need and conditions that desired long-term pain relief, thus contribute to the drugs segment growth in the forecast period.
Analysis by Region:
In the regional outlook of the global degenerative disc disease treatment market, the North America region dominates globally with a 30% market share during the forecast period. It is due to the increasing suffering from lumbar degenerative spine diseases and lower back pain. Moreover, the presence of highly advanced healthcare settings and rising expenditure on healthcare contribute to its growth across North America.
Market Segmentation covered in the Report:
By Product Type:
- Drugs
- Acetaminophen
- NSAIDs
- Oral steroids
- Muscle Relaxants
- Devices
- Cervical Spine
- Lumbar Spine
- Thoracic Spine
- Spinal Fusion
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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