PUBLISHER: The Business Research Company | PRODUCT CODE: 1582603
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582603
A slip disc is a condition where an intervertebral disc in the spine bulges or herniates, pressing on nearby nerves. This happens when the disc's gel-like core displaces through a weakened outer layer, potentially causing symptoms such as back pain, leg pain, numbness, or weakness in the affected areas.
The main types of slip discs are thoracic herniated discs, lumbar herniated discs, and cervical herniated discs. A thoracic herniated disc occurs when the soft inner core of a thoracic intervertebral disc (the nucleus pulposus) protrudes through a tear in the tough outer layer (the annulus fibrosus) into the spinal canal. Diagnoses typically include physical examination, nerve conduction tests, and imaging tests, while treatments may involve therapy and surgery. Applications for management include hospital use, clinic use, household settings, and others.
The slip disc market research report is one of a series of new reports from The Business Research Company that provides slip disc market statistics, including slip disc industry global market size, regional shares, competitors with a slip disc market share, detailed slip disc market segments, market trends, and opportunities, and any further data you may need to thrive in the slip disc industry. This slip disc limbs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The slip disc market size has grown strongly in recent years. It will grow from $7.99 billion in 2023 to $8.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth during the historic period can be attributed to the rising elderly population, increased awareness of spinal health, a rise in sedentary lifestyles and poor posture, the development and popularity of minimally invasive surgical options, and broader health insurance coverage.
The slip disc market size is expected to see strong growth in the next few years. It will grow to $11.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.The anticipated growth during the forecast period can be attributed to enhancements in healthcare infrastructure, continued research and development efforts, increased availability and effectiveness of physical therapy and rehabilitation services, a rising focus on managing chronic pain, and a growing preference for non-surgical and less invasive treatment options. Key trends include advances in imaging technologies, innovations in medical devices and surgical techniques, the adoption of robotic-assisted spine surgery, artificial disc replacement, and the use of telemedicine and digital health solutions.
The rising incidence of spinal cord injuries is anticipated to drive growth in the slip disc market. Spinal cord injuries, which result in a loss of function such as mobility or sensation and can lead to conditions such as slipped discs, are increasing due to higher rates of motor vehicle accidents, sports injuries, and falls. As the prevalence of spinal cord injuries grows, so does the demand for effective treatments and interventions for slipped discs. For example, in March 2024, the National Center for Biotechnology Information (NCBI), a US-based government agency, reported that 17,000 new cases of spinal cord injury occur annually in the United States, with approximately 282,000 individuals living with these injuries. Additionally, a May 2023 article by NCBI highlighted that low back pain (LBP) affected 619 million people globally in 2020, with projections suggesting an increase to 843 million by 2050. Consequently, the rising number of spinal cord injuries is expected to fuel the growth of the slip disc market.
Key players in the slip disc market are concentrating on developing innovative solutions, such as biologic patches, to enhance treatment options and patient outcomes. A biologic patch is a regenerative tissue scaffold designed to support the healing and repair of damaged intervertebral discs using biological materials and growth factors. For instance, in November 2023, researchers from the Perelman School of Medicine at the University of Pennsylvania and the CMC VA Medical Center introduced a new biologic patch, Tension-activated repair patches (TARPs). These patches aim to revolutionize the treatment of herniated discs by leveraging the body's natural movements to provide a more effective disc repair solution. TARPs are designed to re-cushion the vertebrae and restore tension in damaged discs, as well as fill the gaps left by herniations, thereby reducing further disc deterioration and alleviating pain.
In September 2023, Silony Medical International AG, a Switzerland-based medical technology manufacturer, acquired Centinel Spine LLC for an undisclosed amount. This acquisition aims to broaden Silony's presence in the spinal surgery market by incorporating Centinel Spine's specialized products and expertise in spinal fusion technology. Centinel Spine LLC, a US-based company, offers total disc replacement (TDR) devices for both the cervical and lumbar spines.
Major companies operating in the slip disc market are Medacta International SA, Hitachi Ltd., General Electric Company, Pfizer Inc., GlaxoSmithKline plc, Medtronic plc, Siemens Healthcare Private Limited, Koninklijke Philips N.V, Stryker Corporation, Teva Pharmaceutical Industries Ltd., DePuy Synthes Companies, Zimmer Biomet Holdings Inc., Smith & Nephew plc, NuVasive Inc., Canon Medical Systems Corporation, Globus Medical Inc., Orthofix Medical Inc., Accuray Incorporated, Corin Group, Precision Spine Care, BioSpine Institute, Vertebral Technologies Inc., Captiva Spine Inc.
North America was the largest region in the slipped disc market in 2023. The regions covered in the slip disc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the slip disc market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The slip disc market includes revenues earned by entities by providing services such as medical consultation, physical therapy, pain management, and surgical interventions and related physical therapy equipment, diagnostic imaging equipment, surgical instruments, and ergonomic products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Slip Disc Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on slip disc market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for slip disc ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The slip disc market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.