The global cervical total disc replacement market is expected to grow at a compound annual growth rate (CAGR) of around 8% between 2021 and 2026, driven by the increasing prevalence of degenerative disc disease, the growing geriatric population, and the increasing adoption of minimally invasive surgical procedures.
The cervical total disc replacement market is segmented based on product, end user, and region. Based on product, the market is divided into metal-on-metal, ceramic-on-ceramic, and polymer-on-polymer. Metal-on-metal discs are the most widely used type due to their high durability and wear resistance. Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and others. Hospitals are the largest and fastest-growing end user, due to the increasing number of cervical total disc replacement procedures being performed in these facilities. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is the largest market, due to the high prevalence of degenerative disc disease and the increasing adoption of minimally invasive surgical procedures in the region. Europe is the second-largest market, due to the growing geriatric population and the increasing awareness about the benefits of cervical total disc replacement. Asia Pacific is expected to be the fastest-growing market, due to the improving healthcare infrastructure and the increasing healthcare expenditure in the region.
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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.
Company Profiles:
- Medtronic, Plc.
- Depuy Synthes (Johnson & Johnson Inc.)
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Globus Medical, Inc.
- NuVasive, Inc.
- Orthofix Medical Inc.
- LDR Holding Corporation
- Centinel Spine, Inc.
- FH Orthopaedics S. A. S.
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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.
“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.
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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.
What Else is in the Report?
Persistence Market Research offers a unique perspective and actionable insights on the cervical total disc replacement device market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, based on disc type (metal on a biocompatible material (M-o-B) and metal on metal (M-o-M), indication (myelopathy, radiculopathy, severe neck pain, and others), material (polymeric, metallic, and biocompatible), and end user (hospitals, ambulatory surgical centers, and orthopedic and trauma centers), across seven key regions of the world.
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