The Cervical Total Disc Replacement Market is bound to witness a robust CAGR going forward. The present scenario is that of prediction of the course of treatment based on data analytics. Technology has been dominating in the form of IoMT (Internet-of-Medical-Things), AI (Artificial Intelligence), cloud computing, predictive analytics, and what not? With the proven advantage of the reduction in casualties and real-time access to the history of patients, and not to forget – remote monitoring, the healthcare industry is there to upturn.
Cervical disc replacement surgery is a type of minimally invasive surgery (MIS), which is a major factor driving the adoption of disc replacement surgery over fusion surgery. Also, factors such as increasing ageing population, low revision surgery rate of cervical disc replacement surgery, and rising demand for advanced CTDR devices are aiding the growth of the cervical total disc replacement (CTDR) device market.
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As per PMR analysis, the cervical total disc replacement device market is set to expand at an impressive CAGR of 19% from 2020 to 2030, and reach a market valuation of US$ 9.3 Bn by 2030-end.
Key Takeaways from CTDR Device Market Study
- The metal on biocompatible material segment is accounts for a major share of the global cervical total disc replacement device market.
- Hospitals will be the largest end user, accounting for major portion of the demand for CTDR devices.
- By region, North America dominates the CTDR device market with over 50% market share, and is expected to remain dominant throughout the forecast period. The CTDR device markets in Asia and Latin America are expected to expand at high CAGRs in terms of value over the forecast period.
- Inadequate reimbursement policies and lack of clinical data are expected to hamper market growth to some extent.
- Due to the ongoing COVID-19 pandemic, the healthcare community is giving utmost priority to containing its spread and related treatment. As such, non-essential surgeries have been put on hold or postponed.
Company Profiles:
- Medtronic, Plc.
- Depuy Synthes (Johnson & Johnson Inc.)
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Globus Medical, Inc.
- NuVasive, Inc.
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“Cervical disc replacement surgery is gaining immense popularity as the recovery time is less, involves shorter stay at the hospital, and costs less as compared to spinal fusion surgery,” says a PMR analyst.
What Does the Future Hold?
Metal on biocompatible material is highly preferred for cervical total disc replacement devices, due to the flexibility offered by these types of products. Key market players are involved in R&D so as to introduce innovative products into the market for the treatment of degenerative disc disease, thereby boding well for the growth of the CTDR device market over the coming years.
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