Global Slipped Disc Market Scope

Global Slipped Disc Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global slipped disc market is estimated to garner a notable revenue by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated significant revenue in the year 2021. The growth of the market can be attributed to rising spinal injury cases. As per the World Health Organization, nearly between 250000 and 500000 people suffer from spinal cord injury every year.

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A slipped disc occurs when a soft cushion of tissue between your spine's bones pushes out, resulting in back pain. Furthermore, there are three major types of slipped discs such as lumbar, thoracic, and cervical herniated discs for which three types of treatment are available in order to provide relief to the patients, such as therapy, surgery, medications, and others. The cases of slipped disc are increasing with different symptoms such as numbness, weakness, leg pain, and others. Approximately 5 to 20 cases per 1000 adults are found every year.

Global Slipped Disc Market: Growth Drivers and Challenges

Growth Drivers

• Rising Geriatric Population – The body changes with ageing owing to the changes that occur in the muscles, bones, and joints. Therefore, there is a high chance of slipped disc in the aged population, and it is anticipated to increase the growth of the global slipped disc market. As per the United Nations, there were near about 727 million people aged 65 years or above globally in 2020.

• Increase in Healthcare Expenditure– As per the World Bank, the current health expenditure has been rising from 9.34 percent of the GDP in 2005 to 9.83 percent of the GDP in 2019.

• Surge in the Number of Surgeries –According to the National Library of Medicine, nearly 310 million major surgeries are performed every year

• Rising Sedentary Lifestyle – Sitting for long hours results in a number of health concerns such as excess body fat, increased blood pressures, and irregular posture. Hence, it is expected to surge the growth of the global slipped disc market. For instance, 60 to 85 percent of the total population have sedentary lifestyles

• Increasing Incidence of Road Accidents- There has been an increasing incidence of road accidents resulting in non-fatal injuries, and it is projected to rise the growth of the global slipped disc market. As per the World Health Organization, approximately 20 to 50 billion people suffer from non-fatal injuries owing to an increase in road accidents

Challenges

• High Cost of the Slipped Disc Treatment

• Lack of Skilled Medical Professionals

• Slow Recovery After Treatment

The global slipped disc market is segmented and analyzed for demand and supply by treatment into therapy, medications, surgery, and others. Out of these, the therapy segment is expected to hold the largest share over the forecast period in the global slipped disc market. This can be attributed to the increase in the number of physiotherapists practicing across the globe and the growing awareness of physiotherapy among the general population. For instance, there are nearly 233,350 physiotherapists registered in the United States.

Global Slipped Disc Market Regional Synopsis

Regionally, the global slipped disc market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the North America region is projected to hold the largest market share by the end of 2031. This can be attributed to the rise in spinal injury cases, and advancements in medical facilities, and treatment. According to the American Association of Neurological Surgeons, approximately 17,000 new spinal cord injuries occur in the United States.

Asia- Pacific region is anticipated to grow at a faster pace over the forecast period owing to the rise in the percentage of the population, and the increasingly sedentary lifestyle of people.

Market Segmentation

Our in-depth analysis of the global slipped disc market includes the following segments:

Key Companies Dominating the Global Slipped Disc Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global slipped disc market that are included in our report are General Electric Company, Pfizer Inc., NuVasive, Inc., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Hitachi, Ltd, Siemens Healthcare GmbH, Captiva Spine, Inc., Canon Medical Systems Corporation, Globus Medical, and others.

Global Slipped Disc Market: Latest Developments

• April, 2022: NuVasive, Inc., announced that its NuVasive Simplify Cervical Disc two-level U.S. Food and Drug Administration was published in the Journal of Neurosurgery: Spine.

• July, 2022: Canon Medical Systems Corporation announced the completion of acquisition of NXC imaging. The purpose of the acquisition was to increase the sale of the company through offering unique business models and innovative solutions according to each client’s specific needs.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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