Rising Demand for Minimally Invasive Procedures:
- The market is witnessing a notable spike in demand due to the increased prevalence of degenerative intervertebral disc disease, fueled by sedentary lifestyles and posture-related issues.
- Consumers are increasingly drawn to minimally invasive procedures, such as nucleus pulposus (NP) replacement, as an alternative to traditional surgeries. This trend is boosting the global prosthetic disc nucleus market, with a projected valuation of ~US$ 195 Mn by 2030.
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Technological Advancements and Treatment Innovations:
- The advent of NP replacement as a minimally invasive alternative to discectomy with fusion is a key contributor to market growth. Scientific and research communities are exploring various NP replacement materials, showcasing significant promise in preventing adjacent level degenerative disease.
- Advancements in gene therapy, tissue engineering, and other medical spheres are driving innovation in the prosthetic disc nucleus market. These developments contribute to the positive outlook, offering a plethora of opportunities for market players.
Challenges Amidst Market Growth:
- While the market is poised for substantial growth, challenges such as the high costs of implants and overall procedures pose barriers. The expensive nature of prosthetic disc nucleus devices may limit accessibility, particularly in underdeveloped and developing countries.
- The onset of the COVID-19 pandemic has also impacted market dynamics, with disruptions in the supply chain and a decline in demand for prosthetic disc nucleus due to lockdowns and restrictions.