Slip Disc Market Size, Share, Growth, and Industry Analysis, By Type (Thoracic Herniated Discs, Lumbar Herniated Disc, and Others), By Application (Hospital Use, Clinic Use, Household, and Other), Regional Insights, and Forecast from 2023 to 2031

Updated On: 13 November 2023

Slip Disc Market Report Overview

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global slip disc market size was USD 8192.7 million in 2021 and market is projected to touch 11112.5 million by 2031, exhibiting a CAGR of 3.1% during the forecast period.

Slipped discs, also known as ruptured discs or prolapsed discs, occur when a soft cushion of tissue between the bones in the spine slides out and is painful when it presses on nerves. The most typical signs of a slipped disc include discomfort and loss of motor control, among other things. Slipped discs are caused by a weaker outer ring that permits the inner section to slip out. Weak muscles and a lack of physical activity can also cause a slipped disc, and in overweight persons, the risk of a slipped disc is increased since their discs must support the extra weight.

Rising The introduction and rapid adoption of technologically advanced diagnostic medical devices is a critical factor driving market growth, as are rising government support, rising rapid adoption of new therapies, rising healthcare expenditure, rising cases of spinal injuries, and rising funding for research and new product development, among other factors driving the slip disc market share and revenue systems.

COVID-19 Impact: Coronavirus to Hamper the Slip Disc Market Growth

The COVID-19 has hindered the market's expansion. As travel limitations and lockdowns were enacted, the market for vehicle gadgets was essentially non-existent. As a result of the steep drop in automobile demand, which consequently impacted the healthcare industry, there was a drop in demand for automotive parts. Following COVID-19, this once-failed corporation is being restored and rising to greater heights. The market is now working to the client's expectations as to how they might develop their product qualities to increase market share. The drowsiness monitor market is growing as a result of rising customer demand for convenient and safe options. It is apparent that all of these aspects will contribute to a speedy recovery from the COVID-19 market loss.

Latest Trends

"Awareness about Back Problems to Surge Slip Disc Market Growth"

The market for slip discs is expected to grow in the near future as a result of bad eating habits and an increase in the frequency of oral problems such as tooth decay or tooth loss. For example, the Global Burden of Disease Study estimates that over 3.5 billion people globally suffered from oral disease in 2017. Dental caries, which damages the permanent teeth, is the most common oral illness.

Slip Disc Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Thoracic Herniated Discs, Lumbar Herniated Disc, and Others amongst which Thoracic Herniated Discs is the leading segment.

• By Application Analysis

Based on application, the market can be divided into Hospital Use, Clinic Use, Household, and Other amongst which Hospital Use is the leading segment.

Driving Factors

"Merging and Acquisition to Augment the Slip Disc Market Growth"

Increased merger and acquisition activity by major rivals is expected to boost the growth of the worldwide slip disc market. Major market rivals are engaging in merger and acquisition activities in order to design and develop technologically upgraded items and introduce them into the slip discs industry. A boost in market product introductions will also be advantageous. For example, in January 2017, 3D Systems Corporation acquired Vertex-Global Holding B.V. Through this transaction, 3D Systems' groundbreaking technologies and NestDenta's 3D printing materials give a strategic foothold in the digital healthcare sector.

"Increased Consumer Knowledge to Propel the Slip Disc Market Growth"

Slip disc market revenue has increased, owing largely to increased customer awareness of the product's benefits and the rapid rate of technological advancement. As a result of recent advancements in 3D printing technology, the industry is likely to increase further. Furthermore, the increased use of slip disc in clinics and hospitals is a result of increased tobacco, alcohol, and other unhealthy lifestyle choices, which are increasing the incidence of oral cancer and slide disc disorders. This is expected to propel market growth. Furthermore, as a result of the use of slip disc, factors such as rising R&D costs and rising disposable income are leading slip disc to rise, which is projected to positively influence the market.

Restraining Factors

"Shortage of Highly Qualified Professionals to Restrain the Slip Disc Market Growth"

However, among other things, the high cost of treatment and a shortage of experienced medical professionals would block market expansion and further challenge the growth of the slip disc market over the projection period. There are various constraints and problems that will restrict the market's overall expansion. Elements such as reimbursement problems and stringent regulatory criteria for 3D printing equipment clearance may limit market expansion. High operational and capital expenditures can stymie market growth. Due to a lack of highly qualified staff and technological infrastructure, the slip disc Market may face growth constraints.

Slip Disc Market Regional Insights

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"North America to remain Dominant over the Forecast Period"

Some of the factors that have led to the growth of the North American slip disc market include an increase in research and development efforts in the region, an increase in cancer incidences, and a growing emphasis on preventative care. Furthermore, increased knowledge of these technologies among healthcare professionals is expected to drive demand during the forecast period.

The Asia Pacific slip disc market is expected to grow significantly during the forecast period. India, China, and Japan are major contributors to this growth. The Asia Pacific slip disc market has benefited from increased demand for healthcare technologies.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive"

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Captiva Spine(U.S.)
• DePuy Synthes Companies (U.S.)
• GlaxoSmithKline plc (U.K.)
• Globus Medical(U.S.)
• NuVasive(U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.