Growing geriatric population resulting in the increasing prevalence of degenerative disc disease, increasing per capita healthcare expenditure and rising investments in research and development processes is estimated to drive the market during the forecast period. However, factors such as high procedural cost, complications in the operations, lack of awareness and low per capita healthcare expenditure in the developing countries are restraining the market growth.
The global Discography Market is expected to grow at an approximate CAGR of 8.20% during the forecast period.
The global discography market is segmented on the basis of type, component, application, indication, and end user. On the basis of the type, the market is segmented into lumbar discography, cervical discography, thoracic discography, and others. On the basis of the component, the market is categorized into contrast agent, imaging and others. The contrast agent segment is sub-segmented into iodine, gadolinium, and others. The imaging segment is sub-segmented into X-ray, computed tomography (CT), magnetic resonance imaging (MRI), and others. On the basis of the application, the market is segmented into herniated discs, scoliosis, burst fracture, and others. On the basis of the indication, the market is segmented into spinal decompression, lumbar surgery, laminectomy, and others. On the basis of end user, the market is segmented into hospitals, retail pharmacies, academic institutes, others.
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The Americas dominates the global discography market. Factors such as the presence of a well-developed healthcare sector, increasing prevalence of lower back pain, and rising healthcare expenditure provides the favorable backgrounds for the market growth within the region. Followed by Europe is the second large market for discography. Availability of funds for research, well developed healthcare infrastructure, huge patient population and government support for research & development are the major drivers for market growth in Europe. Asia Pacific is the fastest growing region for the market due to the presence of developing economies like India & China and favorable government policies. The Middle East & Africa has the least share in the global discography market due to presence of poor economies and stringent government policies within the region. Majority of the market of the Middle & Africa region is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure by the presence of the economies like Saudi Arabia, Kuwait, and Qatar within the region.
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The key players for the global discography market are Stryker (U.S.), Johnson & Johnson Services, Inc. (U.S.), Merit Medical Systems, Inc. (U.S.), Medtronic (U.S.), GFS Chemicals, Inc. (U.S.), Avalon Advanced Materials (Canada), GE Healthcare (U.S.), Koninklijke Philips N.V. (the Netherlands), Canon Inc. (Japan), Carestream Health. (U.S.), and others.