Degenerative disc disease (DDD) is a condition caused by the breakdown of discs between the vertebrae in the spinal column. The disc acts as a cushion between the bones (vertebrae) of the spine. When the disc breaks down, it can cause pain, and reduce mobility and flexibility. Symptoms of DDD include neck pain, low back pain, and pain or numbness in the arms and legs. Treatments for DDD include pain medications, physical therapy, steroid injections, and surgery in severe cases.
The Degenerative Disc Disease Treatment Market consists of products used for the management and treatment of DDD such as drugs, spinal fusion implants, electrical stimulation devices and others. Increasing prevalence of degenerative disc disease worldwide due to sedentary lifestyle and obesity is expected to drive the Degenerative Disc Disease Treatment Market Demand over the forecast period.
The global Degenerative Disc Disease Treatment Market is estimated to be valued at US$ 2,235.1 million in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Degenerative Disc Disease Treatment Market are Medtronic, Johnson & Johnson, Abbott Laboratories, Roche Diagnostics, Pfizer.
Increasing demand for minimally invasive surgeries for DDD treatment presents lucrative growth opportunities for players in the market. Advancements in biologics and stem cell therapies also offer new opportunities.
North America dominates the global market due to high disease prevalence and availability of advanced treatment options. However, rising geriatric population in Asia Pacific is expected to drive high growth in the regional market over the forecast period.
Market drivers
The increasing prevalence of obesity is a major driver for the Degenerative Disc Disease Treatment Market. Obesity significantly raises the risk of developing DDD as excess weight puts extra pressure on the discs between the vertebrae. According to WHO, the global obesity rates have nearly tripled between 1975-2016 with over 650 million adults considered obese in 2016. This rising obesity pandemic will continue driving the DDD caseloads thereby fueling market growth.
PEST Analysis
Political: Regulations related to drug pricing and approvals along with healthcare reforms will impact the growth of the Degenerative Disc Disease Treatment Market.
Economic: Factors such as rising geriatric population suffering from age-related disc disorders and increasing healthcare spending will drive the market growth.
Social: Growing awareness about various treatment options and favorable reimbursement policies will contribute to the increasing demand for degenerative disc disease treatments.
Technological: Advancements in biologics, gene therapies, stem cell therapies and medical devices are offering minimally invasive treatment alternatives to surgery which is propelling the market growth.
Geographical Regions with High Market Concentration
North America holds the largest share of the Degenerative Disc Disease Treatment Market owing to growing obese population, rising healthcare spending and availability of advanced treatment options. The United States dominates the North American market due to large patient pool and presence of major players. Europe holds the second position due to increasing adoption of novel technologies and favorable reimbursement policies in countries like Germany, U.K., France etc.
Fastest Growing Regional Market
The Asia Pacific region is expected to witness the highest growth over the forecast period attributed to growing geriatric population, rising medical tourism, improving healthcare infrastructure and increasing disposable incomes. Rapid economic development across emerging nations like China and India along with growing awareness about various treatment alternatives will significantly drive the Asia Pacific Degenerative Disc Disease Treatment Market in the coming years.
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