ALBANY, N.Y., March 11, 2021 /PRNewswire/ -- Technological advancements in the healthcare industry are witnessing great progress. Almost every disease or disorder can be treated with the help of technology. Back-related problems are also being cured with technology. The prosthetic disc nucleus is a result of such technologies. The growing cases of degenerative intervertebral disc diseases have increased the demand for prosthetic disc nucleus to a considerable extent. Therefore, all the aforementioned aspects will bring tremendous growth opportunities for the global prosthetic disc nucleus market across the forecast period of 2020-2030.
A prosthetic disc nucleus is a device comprising a polyethylene jacket and a hydrogel core. This device is designed for assuring the functioning of a healthy disc. This device also assists in maintaining the disc height and allowing a normal range of motion. All these functionalities help in increasing the growth rate of the prosthetic disc nucleus market.
The Transparency Market Team (TMR) is always committed to providing the stakeholders and CXOs with the most accurate information about a specific market. The TMR team uses their exceptional skills and phenomenal researching abilities to study a market. These factors ensure a great report for the stakeholders. Using these capabilities, the TMR team has conducted intense research on various aspects associated with the prosthetic disc nucleus market.
After a detailed analysis, the TMR team predicts the global prosthetic disc nucleus market to expand at a CAGR of ~8 percent during the tenure of 2020-2030. The global prosthetic disc nucleus market was valued at ~US$ 92 mn in 2019.
The growing prevalence of back-related diseases will serve as a promising factor for the prosthetic disc nucleus market. The rise in the incidence of degenerative disc disorder will further propel the growth prospects of the prosthetic disc nucleus market. The emergence of a sedentary lifestyle and the work-from-home mechanism will accelerate back-related problems to a considerable extent. These factors will eventually invite good growth for the prosthetic disc nucleus market.
Prosthetic Disc Nucleus Market: Bird's Eye View
Advancements in gene therapies, research and development activities, cell therapy, tissue engineering, and other similar factors will serve as prominent factors for the growth of the prosthetic disc nucleus market according to the TMR analysts. The analysts advise the players in the prosthetic disc nucleus market to focus on strategic collaborations for increasing the growth rate. Novel product launches will also help the players to gain a competitive edge over others.
Rising Geriatric Population to Sow the Seeds of Growth
The geriatric population is rising at a rapid rate across the globe. Older people are more vulnerable to back problems and diseases. Age-related degeneration of the disc, facet joints, and ligament flava are some of the common back-related problems. Thus, the swift rise in the geriatric population is directly proportional to the growth of the prosthetic disc nucleus market.
Research and Development Activities to Enable Discovery of Novel Insights
Manufacturers in the prosthetic disc nucleus market are focusing intensively on research and development activities. These activities help the players in exploring new formulations and methods to improve the efficiency of the prosthetic disc nucleus. These factors help them in increasing their revenues. Furthermore, expansion activities also play a vital role in assuring seamless production and distribution of products.
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