Global Degenerative Disc Disease Treatment Market, by Product Type (Drugs (Acetaminophen, NSAIDs, Oral steroids, Muscle Relaxants), by Devices (Cervical Spine, Lumbar Spine, Thoracic Spine, Spinal Fusion)), by End User (Hospitals, Ambulatory Surgical Centers, Orthopedic Center), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,235.1 Million in 2022 and is expected to exhibit a CAGR of 9.2% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing adoption of inorganic strategies such as product launch by key market players is expected to drive the global degenerative disc disease treatment market over the forecast period. For instance, in July 2021, Orthofix US LLC., a medical device company, announced that they had launched new 3D printed lumbar device for spinal fusion surgery, which is designed for use in Posterior Lumbar Interbody Fusion surgeries, that features a complex 3D printed geometry, a porous structure, and a nanoscale surface texture that promotes bone growth through the spacer.
Global Degenerative Disc Disease Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been significantly impacted by the COVID-19 pandemic.
Many patients with COVID-19 have severe respiratory infection requires hospitalization and mechanical ventilation and defining the immune responses during COVID-19 could help to identify therapeutics and effective vaccines. However, the COVID-19 pandemic had a positive impact on the global degenerative disc disease treatment market. For instance, in May 2022, according to the data published in Springer Journal, a survey was conducted in Italy, to assess and compare the clinical effectiveness of percutaneous intradiscal ozone therapy in patients affected by lumbar disc herniation, with and without history of COVID-19 infection, it was estimated that lumbar disc herniation patients treated with percutaneous intradiscal ozone therapy, affected by COVID-19 have longer recovery time than non COVID-19 patients.
Global Degenerative Disc Disease Treatment Market: Key Developments
For instance, in May 2022, Spinal Simplicity, a medical device company, announced that they had launched the Minuteman G5 Implant, a minimally invasive, interspinous, interlaminar fusion device which is intended for the fixation and stabilization of the thoracic, lumbar, and sacral spine while awaiting bony fusion to occur. It is designed for attachment to the posterior non-cervical spine at the spinous processes through its bilateral grip plates, and it is intended for use with bone graft material placed within the device.
Browse 26 Market Data Tables and 24 Figures spread through 160 Pages and in-depth TOC on “Global Degenerative Disc Disease Treatment Market”- Forecast to 2030, Global Degenerative Disc Disease Treatment Market, by Product Type (Drugs (Acetaminophen, NSAIDs, Oral steroids, Muscle Relaxants), by Devices (Cervical Spine, Lumbar Spine, Thoracic Spine, Spinal Fusion)), by End User (Hospitals, Ambulatory Surgical Centers, Orthopedic Center), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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For instance, in February 2022, Orthofix US LLC., a medical device company, announced that they had launched Opus BA, a synthetic bioactive bone graft solution for cervical and lumbar spine fusion procedures to link bones together. Opus BA allows bone to grow across the surface and is reabsorbed and replaced with natural bone while healing.
Key Takeaways of the Global Degenerative Disc Disease Treatment Market:
- The global degenerative disc disease treatment market is expected to exhibit a CAGR of 9.2% during the forecast period due to the adoption of inorganic strategies such as product launch by the key players in the market over the forecast period. For instance, in July 2022, Nexus Spine, a medical device company, announced that they had launched Stable-C cervical interbody system with integrated fixation, which is designed to match the stiffness of spinal trabecular bone to encourage rapid stability while minimizing the potential for subsidence.
- Among product type, devices is estimated to hold a dominant position in the global degenerative disc disease treatment market over the forecast period due to the increasing product launch by key market players. For instance, in September 2022, NuVasive, Inc., a medical device company, announced that they had launched Reline Cervical, a new fixation system for posterior cervical fusion (PCF), which is designed for anterior cervical decompression and fusion, cervical total disc replacement.
- Among regions, North America is estimated to account for the largest market share in the global degenerative disc disease treatment market over the forecast period, owing to adoption of inorganic strategies such as product approval by key market players in that region. For instance, in June 2022, Aurora Spine, Inc., a medical device, announced that they had received an approval from the U.S. Food and Drug Administration for DEXA SOLO-L spinal fusion system, a standalone anterior lumbar interbody fusion and lateral lumbar interbody fusion device. Aurora Spine is focused on bringing new solutions to the spinal implant market through a series of advanced, minimally invasive, regenerative spinal implant technologies.
- Major players operating in the global degenerative disc disease treatment market include Medtronic, Globus Medical, Johnson & Johnson Services, Inc., Zimmer Biomet, B. Braun SE, RTI Surgical, Cousin Biotech, ulrich medical USA, Fresenius Kabi AG, Abbott, Spine Wave, Inc., RIVANNA MEDICAL, ZAVATION, Orthofix US LLC., Spinal Simplicity, Nexus Spine, NuVasive, Inc., Aurora Spine, Inc., 4WEB Medical
