The International Discography Market is expected to grow at an approximate CAGR of 8.20% during the forecast period. 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.
Discography or discogram, is an interventional diagnostic imaging test that uses X-rays to examine the intervertebral discs of the spines. During the discographic procedures, a special gadolinium and iodine dye is injected into the injured disc which makes the disc visible on a fluoroscope monitor and X-ray film. Increasing prevalence of degenerative disc disease and growing geriatric population are estimated to be the major drivers for market growth during the forecast period. According to a study published in the Asian Spine Journal in 2016, it is estimated that lumbar back pain affects 70% to 85% of the individuals in their life. Further, the study states that the prevalence of back pain increases with age and the recurrence is estimated to be as high as 85%.
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Moreover, according to the World Health Organization, the world’s geriatric population is expected to reach 2 billion by 2050 from 900 million in 2015. Additionally, about 80% of the total geriatric population is estimated to live in the low and middle income countries. Factors such as increasing per capita healthcare expenditure and rising investments by the key market players in research and development processes will fuel the market growth during the forecast period. However, high procedural cost followed by the complications in the operations, lack of awareness and low per capita healthcare expenditure in the developing countries is projected to restrain the market growth during the forecast period. The cost for discography procedures is estimated to be around USD 1,500, making it an out-of-pocket investment for a majority of the patients.
Key Players For Global Discography Market:
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.
Discography Market Segmentation:
The global discography market is segmented on the basis of type, component, application, and 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 categorised 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 the end user, the market is segmented into hospitals, retail pharmacies, academic institutes, others.
Global Discography Market Regional Analysis
The Americas dominates the Global Discography Market owing to a well-developed healthcare sector. Increasing prevalence of lower back pain, rising healthcare expenditure have boosted the growth of the market in Americas. Moreover, the presence of developed economies like U.S. and Canada within the regional boundaries fuels the market growth.
Europe is the second large market for discography, which is followed by Asia Pacific. Availability of funds for research, well developed healthcare infrastructure, huge patient population and government support for research & development will drive the market in the Europe.
Followed by Europe, Asia Pacific is estimated to be the fastest growing region for the market. Presence of developing economies like India and China within the region boost the market growth within the region. Additionally, the presence of favourable government policies and huge opportunities for the untapped market within the region fuels the market growth. According to the Indian Brand Equity Foundation in 2017, Indian healthcare sector was estimated to grow with a fast pace and reach USD 280 billion by 2020.
The Middle East & Africa has the least share in the global discography market due to presence of poor economies especially in the African 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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MAJOR TABLE OF CONTENT:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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