How Has the Slip Disc Market Evolved Historically and What is its Current Size?
The slip disc market has seen considerable growth due to a variety of factors.
• The slip disc market has grown significantly in recent years. It will increase from $8.53 billion in 2024 to $9.14 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%.
Contributing factors include a growing elderly population, increased awareness about spinal health, sedentary lifestyles, popularity of minimally invasive surgical options, and expanding health insurance coverage.
What Is The Projected Growth Of The Slip Disc Template Market?
The slip disc market is expected to maintain its strong growth trajectory in upcoming years.
• The slip disc market is forecasted to grow significantly, reaching $11.85 billion by 2029 at a CAGR of 6.7%.
The growth is driven by improved healthcare infrastructure, ongoing research in physical therapy and rehabilitation, and a focus on chronic pain management. Major trends include advancements in imaging technologies, innovations in medical devices and surgical techniques, robotic-assisted spine surgery, artificial disc replacements, and the growth of telemedicine.
What Are The Key Drivers Fueling Growth In The Slip Disc Market?
The upward trajectory in cases of spinal cord injury is projected to fuel the expansion of the slip disc market. The term 'spinal cord injury' relates to any damage to the spinal cord, resulting in a loss of function such as sensation or movement, frequently leading to ailments like slipped disc. An increase in spinal cord injuries can be attributed to a rise in motor vehicle incidents, sports-related injuries, and falls. As more people succumb to such injuries, the need for slipped disc treatments and interventions grows. To illustrate, data from the National Center for Biotechnology Information, a US government agency, showed that in March 2024, new spinal cord injury reports in the US amounted to 17,000 per year, with an estimated 282,000 individuals living with these injuries. Additionally, an article from the same agency, published in May 2023, stated that low back pain affected 619 million individuals globally in 2020, estimating that this figure would escalate to 843 million by 2050. Consequently, the rise in spinal cord injuries is fuelling the expansion of the slip disc market.
What Are The Principal Market Segments In The Global Slip Disc Industry?
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
Subsegments:
1) By Thoracic Herniated Discs: Central Herniation, Paracentral Herniation, Foraminal Herniation
2) By Lumbar Herniated Discs: L4-L5 Disc Herniation, L5-S1 Disc Herniation, L3-L4 Disc Herniation, Other Lumbar Disc Herniations
3) By Cervical Herniated Discs: C5-C6 Disc Herniation, C6-C7 Disc Herniation, C4-C5 Disc Herniation, Other Cervical Disc Herniations
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What Trends Are Reshaping The Future Of The Slip Disc Market?
Leading firms in the slip disc market are concentrating on the development of groundbreaking products such as biologic patches, with the primary goal of improving treatment procedures and enhancing outcomes for patients. A regenerative tissue platform, or biologic patch, is designed to encourage healing and repair of damaged intervertebral discs using biological materials and growth inducing agents. As an example, in November 2023, scientists at the Perelman School of Medicine at the University of Pennsylvania and the CMC VA Medical Center, both located in the US, created an innovative biologic patch called Tension-activated repair patches (TARPs). This could revolutionize how herniated discs in the spine are treated. These patches intend to offer a more effective method of disc repair than currently available techniques, by employing the natural movements of a person. They are crafted to aid in re-padding the vertebrae through restoration of tension in the damaged discs while filling the gaps created by herniations at the same time. This dual modality aims to prevent further deterioration of the disc and alleviate disc-related discomfort.
Who Are the Key Players In The Slip Disc Market?
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.
What Are The Regional Insights Into The Slip Disc Market?
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.
