The increasing prevalence of degenerative disc disease (DDD)
among the elderly population and the innovations in imaging
technology & surgical tools are projected to drive the global
degenerative disc disease treatment market's growth during the
forecast period. The North America
region is predicted to witness prominent growth by 2032.
PORTLAND, Ore., May 23, 2024 /PRNewswire/ -- Allied Market
Research has recently published a report, titled,
"Degenerative Disc Disease Treatment
Market Size, Share, Competitive Landscape and Trend
Analysis Report by Drugs, By Treatment Type, By End Use, By Route
of Administration : Global Opportunity Analysis and Industry
Forecast, 2023-2032." According to the report, the global
degenerative disc disease treatment market generated $28 billion in 2022, and is anticipated to
generate $46.2 billion by 2032,
rising at a CAGR of 5.5% from 2023 to 2032.
Request Sample of the Report on Degenerative Disc Disease
Market Forecast 2032-
https://www.alliedmarketresearch.com/request-sample/A269439
Prime Determinants of Growth
The increasing prevalence of degenerative disc disease (DDD)
among the aging population, growing awareness about spine health
and available treatment options, and the innovations in imaging
technology & surgical tools are the factors expected to drive
the growth of the global degenerative disc disease treatment market
in the forecast period from 2023 to 2032. However, the increasing
availability of various alternative treatment and pain management
methods for degenerative disc disease may restrict market growth in
the coming future. Contrarily, technological innovations in medical
technology, such as robotics, 3D printing, and advanced imaging
techniques is expected to offer remunerative opportunities for the
degenerative disc disease treatment market expansion during the
forecast period.
Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2032
|
Base Year
|
2022
|
Market Size in
2022
|
$28 billion
|
Market Size in
2032
|
$46.2
billion
|
CAGR
|
5.5 %
|
No. of Pages in
Report
|
320
|
Segments
covered
|
Drugs, Treatment Type,
Route of Administration, End Use, and Region
|
Drivers
|
Increasing awareness
about spine health and available treatment options
Rising demand for
minimally invasive procedures
Growing prevalence of
degenerative disc disease
|
Opportunities
|
Advancements in medical
technology
Ongoing research &
development
|
Restraints
|
Availability of various
alternative treatment and pain management methods
|
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Drugs: NSAIDs (Non-Steroidal Anti-Inflammatory Drugs)
Sub-segment to be the Most Dominant by 2032
The NSAIDs (non-steroid anti-inflammatory drugs) sub-segment
accounted for the largest global degenerative disc disease
treatment market share of 35.1% in 2022 and is expected to hold
major share and rise at a CAGR of 6.2% during the forecast period.
NSAIDs' effectiveness in reducing pain, inflammation, and fever,
their over-the-counter availability, and their ability to address
multiple symptoms simultaneously drive their widespread use for
various conditions like arthritis and minor ailments, which is
driving the sub-segment's growth. In addition, NSAIDs are a popular
choice for self-medication.
Treatment Type: Physical Therapy Sub-segment to Flourish
Immensely During the Forecast Period
The physical therapy sub-segment held the largest market share
of 30.6% in 2022 and is predicted to grow at the highest CAGR of
6.5% during the forecast period. This dominant growth can be
attributed to physical therapy's non-invasive nature, its proven
effectiveness in reducing pain and improving mobility, and its use
of therapeutic exercises and modalities like ultrasound and
electrical stimulation make it a preferred treatment for
degenerative disc disease. This approach appeals to both patients
and healthcare providers seeking conservative management
options.
Route of Administration: Oral Sub-segment to Witness Dominant
Growth by 2032
The oral control sub-segment accounted for the largest global
degenerative disc disease treatment market share of 65.5% in 2022
and is expected to be most dominant by growing at the highest CAGR
of 6.0% during the forecast period. This is mainly because oral
medications for degenerative disc disease, such as NSAIDs, muscle
relaxants, and analgesics, offer convenience and ease of
administration, making them preferred by patients and healthcare
providers. Their availability over-the-counter or with a
prescription ensures accessibility in hospitals, clinics, and
pharmacies, providing flexibility in managing the condition.
End Use: Hospitals Sub-segment to Thrive Significantly During
the Forecast Period
The hospitals sub-segment held the largest market share of 45.5%
in 2022 and is predicted to grow at the highest CAGR of 6.2% during
the forecast period. This is mainly because specialized departments
in hospitals dedicated to orthopedics, neurology, or spine care,
equipped with advanced diagnostic tools and treatment modalities
enable comprehensive care for patients with complex spinal
conditions. This infrastructure drives hospitals to become
preferred destinations for specialized treatment of degenerative
disc disease.
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Region: North America Market to Hold Major Share by
2032
The North America degenerative
disc disease treatment market accounted for the largest share of
34.1% in 2022 and is predicted to continue to hold major share by
2032. This is mainly due to the advancements in medical technology,
rising healthcare expenditure, and increased patient awareness.
Besides, the increasing prevalence of degenerative disc disease
(DDD) attributed to aging populations and sedentary lifestyles is
another factor driving the regional market growth.
Leading Players in the Degenerative Disc Disease Treatment
Market:
- Eli Lilly and Company
- Spine BioPharma
- Novartis AG
- FibroGenesis
- Ferring B.V.
- Pfizer Inc.
- AstraZeneca Plc
- Medtronic plc
- DiscGenics, Inc.
- Braun Melsungen AG
The report provides a detailed analysis of the key players of
the global degenerative disc disease treatment market. These
players are employing various strategies including launching new
products, entering collaborations, expanding operations, forming
joint ventures, and signing agreements, all aimed at boosting their
market share and securing their competitive position across
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
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