Cervical Total Disc Replacement Market To Get On To Digitized Revolutionary Spree, Reaching US$ 9.3 Bn

The global Cervical Total Disc Replacement Market is all set to witness a CAGR of 19% in the next decade. It is expected to reach US$ 9.3 Bn by the year 2030. With digitized communication channels making a beeline to the healthcare vertical, the advanced clinics are into virtual consultation mode, and this scenario is expected to continue even going forward. Regulatory approvals for this type of communication are on the way. Close to 70% of the public hospitals worldwide are being asked to adopt digital means. This would be the scene with healthcare vertical in the subsequent period.

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.

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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This release was published on openPR.