Major trends in the CTDR device market include technological advancements with regard to CTDR device, consistent investment in research and development and surge in acquisitions and mergers.
New York, NY -- (SBWIRE) -- 01/20/2017 -- According to the latest market report published by Persistence Market Research titled "Cervical Total Disc Replacement Device Market: Global Industry Analysis & Forecast: North America to Witness Highest Growth by 2021", the CTDR device market is expected to be valued at US$ 489.7 Mn by the end of 2015. It is anticipated to expand at a CAGR of 23.1% during the forecast period (2015 - 2021) to account for US$ 1,750.1 Mn by 2021.
Cervical total disc replacement (CTDR) device is used to treat patients suffering from degenerative disc disorders (DDD). Neck pain is the major cause for development of DDD in cervical region of the spine. Cervical disc replacement procedure is performed for treatment of DDD, where the degenerated disc is removed surgically and an artificial disc is implanted in the vertebra. This is a minimal incision surgery (MIS), which results in quick recovery post-surgery, short hospital stay and low revision surgery rate. Various benefits of this procedure is increasing adoption rate of this surgery over conventional spinal fusion surgery. Conventionally, DDD is treated through spinal fusion surgery, but due to high rate of revision surgery and increasing prevalence of adjacent segment disc degeneration post fusion surgery, doctors are considering cervical disc replacement over spinal fusion.
The CTDR device market is mainly driven by factors such as growing ageing population, low revision surgery rate of cervical disc replacement surgery, and increasing demand for advanced CTDR device. However, factors such as inadequate reimbursement policies and lack of clinical data are expected to hamper market growth. The CTDR device market is segmented on the basis of material type and end user.
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By region, North America dominated the market with over 45% market share and is expected to remain dominant throughout the forecast period. The CTDR device market in Asia and Latin America are expected to expand at a CAGRs of 23.8% and 18.5% respectively in terms of value during the forecast period.
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Key players covered in this report are Medtronic, plc, Depuy Synthes, Globus Medical, Inc., NuVasive, Inc., LDR Holding Corporation.
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