Introduction and rapid adoption of technologically advanced diagnostic medical devices is a major factor for the market growth. Medical device manufacturing companies and drug manufacturers are investing large amount of money in research, clinical trials, and new product launch to provide effective solution for slipped disc. Some other factors such as rising geriatric population, increasing government support, and increasing healthcare expenditure has fuelled the growth of the market. Rapid adoption of new therapies also plays an important role in the growth of this market. However, high cost of the treatment and lack of skilled medical professionals in many developing areas may restrict the market growth
Slipped (Herniated) disc occurs when a soft cushion of tissue between the bones in spine pushes out and is painful when it presses on nerves. The most common symptoms of slipped disc are loss of motor control, pain etc. Slipped disc mainly occurs due to weaker outer ring that allows inner portion to slip out. Lack of physical activity and weak muscles may also lead to slipped disc. In overweight people, the risk of slipped disc is more because their disks must support the additional weight.
Global Slip Disc market is anticipated to grow at the CAGR of ~5.4% during the forecast period and is estimated to reach USD 11,011.3 million by 2023.
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Key players for global Slip Disc market:
Some of the key players in this market are: Captiva Spine, Inc. (US), DePuy Synthes Companies (US), GlaxoSmithKline plc (UK), Globus Medical, Inc. (US), NuVasive, Inc. (US), Pfizer Inc. (US), and TEVA Pharmaceutical LTD (Israel).
Imaging tests is the second largest market by type which is projected to grow at the CAGR of 5.7% during the forecast period from 2017-2023. Medications segment is expected to command the largest market share of around 46.2% in 2016. China holds the largest market share in the Asia Pacific slip disc market and is expected to reach $ 587.0 million by 2023.
Global Slip Disc market has been segmented on the basis of type which comprises of thoracic herniated discs, lumbar herniated disc, and cervical herniated discs.
On the basis of diagnosis, it is segmented into physical examination, nerve conduction test, and imaging tests.
On the basis of treatment, this market is segmented into medications, therapy, and surgery.
Regional analysis of global Slip Disc market:
Considering the global scenario of the market, the Americas hold the largest share in the global slip disc market. In the American market North America is one of the leading markets which is expected to reach 4,542.8 million in 2023. Some other factors such as increasing cases of spinal injuries plays an important role in market growth. Latin America market is also growing significantly, lumbar herniated disc market is expected to hold the largest market share in this market.
Due Increasing funding for research and new product development, European region is also expected to grow significantly during the forecast period. Europe is the second largest market and holding around 31.0% market share in global slip disc market. Availability of advanced diagnostic and treatment facilities, skilled medical professionals, high healthcare expenditure and adoption of new therapies are driving the growth for this market.
The prevalence of slip disc in Asia Pacific region is key factor for the market growth. Rising awareness about the slip disc and related cure is playing important role in the growth of the market. Growing number of patients suffering from back pain either severe or mild is leading the market growth. China is holding the largest share in this market. Asia Pacific slip disc market is expected to grow at a CAGR of 6.0% during the forecast period of 2017-2023.
Middle East & Africa is expected to have the least growth in this market due to some major factors such as lack of awareness about the slip disc, limited access and availability of diagnostic and treatment facilities, low income etc. Middle East holds 70.9% market share in the Middle East & Africa slip disc market.
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The report for Global Slip Disc Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight to the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions
We are thankful for the support and assistance from Slip Disc Market Research Report- Global Forecast till 2023 chain related technical experts and marketing experts during Research Team survey and interviews.
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