The slip disc global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Slip Disc Market, 2024The slip disc global market report 2024
Market Size – 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 in the historic period can be attributed to the increasing elderly population, growing awareness about spinal health, rise in sedentary lifestyles and poor posture, development and popularity of minimally invasive surgical options, and expanding 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 growth in the forecast period can be attributed to improved healthcare infrastructure, ongoing research and development efforts, growth in the availability and effectiveness of physical therapy and rehabilitation services, rising focus on managing chronic pain, and growing preference for non-surgical and less invasive treatment options. Major trends in the forecast period include advances in imaging technologies, innovations in medical devices and surgical techniques, adoption of robotic-assisted spine surgery, artificial disc replacement, and adoption of telemedicine and digital health solutions.
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Scope Of Slip Disc MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Slip Disc Market Overview
Market Drivers -The increase in spinal cord injuries is expected to propel the growth of the slip disc market going forward. Spinal cord injuries are characterized by damage to the spinal cord that leads to a loss of function, such as mobility or sensation, often resulting in conditions like slipped discs. The rise in spinal cord injuries can be linked to a higher incidence of motor vehicle accidents, sports-related injuries, and falls. As more individuals experience spinal cord injuries, the demand for treatments and interventions for slipped discs increases. For example, in March 2024, according to the National Center for Biotechnology Information, a US-based government agency, approximately 17,000 new spinal cord injury cases are reported annually in the United States, with around 282,000 individuals currently living with spinal cord injuries. Furthermore, in May 2023, an article published by the National Center for Biotechnology Information noted that low back pain (LBP) affected 619 million people worldwide in 2020, with projections indicating this number could rise to 843 million by 2050. Consequently, the increase in spinal cord injuries is propelling the growth of the slip disc market.
Market Trends – Major companies in the slip disc market are focused on developing innovative products, such as biologic patches, to advance treatment options and improve patient outcomes. A biologic patch is a regenerative tissue scaffold designed to promote healing and repair of damaged intervertebral discs using biological materials and growth factors. For instance, in November 2023, researchers at the Perelman School of Medicine at the University of Pennsylvania, a US-based medical school, and the CMC VA Medical Center (CMCVAMC), a US-based Veterans Affairs hospital that provides medical care and services to veterans, developed a novel biologic patch, Tension-activated repair patches (TARPs), that could transform the treatment of herniated discs in the spine. These patches aims to provide a more efficient disc repair solution than current techniques by utilizing an individual’s natural movements. The patches are designed to assist re-cushion the vertebrae by helping to restore the tension in the damaged discs in addition to filling in the holes left by herniations. This two-pronged approach seeks to stop more disc deterioration and relieve disc pain.
The slip disc market covered in this report is segmented –
1) By Type: Thoracic Herniated Discs, Lumbar Herniated Disc, Cervical Herniated Discs
2) By Diagnosis: Physical Examination, Nerve Conduction Test, Imaging Tests
3) By Medications: Therapy, Surgery
4) By Application: Hospital Use, Clinic Use, Household, Other Applications
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Regional Insights – 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.
Key Companies – Major companies in the 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.
Table of Contents 1. Executive Summary2. Slip Disc Market Report Structure3. Slip Disc Market Trends And Strategies4. Slip Disc Market – Macro Economic Scenario5. Slip Disc Market Size And Growth…..27. Slip Disc Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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