Global Slip Disc Market Size Study by Type (Thoracic Herniated Discs, Lumbar Herniated Disc, Others), by Diagnosis (Physical Examination, Nerve Conduction Test, Others), by Medications (Therapy, Surgery), and Regional Forecasts 2022-2032
The global Slip Disc Market was valued at approximately USD 7.99 Billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2032, driven by advancements in diagnostic technologies, increasing cases of spinal injuries, and the growing geriatric population.
Slip disc, also known as herniated or ruptured disc, occurs when the soft tissue between spinal bones slips out, often pressing on nearby nerves. This condition causes significant pain, loss of motor control, and in some cases, disability. The rising sedentary lifestyle and increasing obesity rates globally are major contributors to the growing incidence of slip disc cases.
The demand for technologically advanced diagnostic devices, including MRI and CT scans, is accelerating as they provide precise insights into spinal disorders. Furthermore, government initiatives to enhance healthcare infrastructure and increased investment in research and development are creating new growth avenues for the slip disc market. Key players are focusing on developing minimally invasive surgical techniques and innovative therapies, which are expected to transform treatment outcomes.
North America dominates the slip disc market due to its advanced healthcare infrastructure, robust research and development activities, and a higher prevalence of spinal disorders. Europe holds the second-largest market share owing to the availability of skilled medical professionals and rising healthcare expenditure. Meanwhile, the Asia-Pacific region is projected to exhibit the fastest growth rate due to increasing awareness, a rising number of back pain cases, and growing adoption of advanced medical technologies.
Despite these growth opportunities, the market faces challenges such as high treatment costs and a shortage of skilled healthcare professionals. However, emerging markets in Asia-Pacific and Latin America present lucrative opportunities for manufacturers to expand their footprint.
Major Market Players Included in This Report Are:
Medical Devices Business Services, Inc.
NuVasive, Inc.
Globus Medical
Siemens Healthcare Private Limited
GENERAL ELECTRIC COMPANY
Koninklijke Philips N.V.
Hitachi, Ltd.
Teva Pharmaceutical Industries Ltd.
Pfizer Inc.
CANON MEDICAL SYSTEMS CORPORATION
Detailed Segmentation of the Market Is As Follows:
By Type:
Thoracic Herniated Discs
Lumbar Herniated Disc
Others
By Diagnosis:
Physical Examination
Nerve Conduction Test
Others
By Medications:
Therapy
Surgery
By Region:
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
South Africa
Saudi Arabia
UAE
Rest of MEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market estimates and forecasts for the period 2022-2032.
Regional and country-level analysis of market trends.
Detailed insights into segmentation by type, diagnosis, and medications.
Competitive landscape analysis, including major players' strategies.
Impact of technological advancements on market dynamics.
Table of Contents
Chapter 1. Global Slip Disc Market Executive Summary
1.1. Global Slip Disc Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By Diagnosis
1.3.3. By Medications
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Slip Disc Market Definition and Research Assumptions