New York, NY -- (SBWIRE) -- 02/24/2016 -- According to a market study, recently published by Persistence Market Research (PMR), a market intelligence and research firm, the global cervical total disc replacement device market is likely to reach US$489.7 mn by the end of 2015. Analysts project its estimated expansion at an impressive CAGR of 23.10% during the period from 2015 to 2021.The overall market is expected to gain a valuation of a whopping US$1,750.1 mn by the end of the forecast period.

The research report, titled "Global Market Study on Cervical Total Disc Replacement Device: Growth in Cervical Degenerative Diseases, a Catalyst for CTDR Devices Market", states that the rapid rise in the global base of geriatric population and the low rate of revision surgery together with the rising demand for highly developed cervical total disc replacement devices for the treatment of class one and class two degenerative disc disease are fueling the global market for degenerative disc disease significantly.

According to the research report, the global cervical total disc replacement device market is analyzed on the basis of material type, end users, and regional distribution.

Based on material type, the global market for cervical total disc replacement device is classified into the markets for metal on metal devices and metal on a biocompatible material devices. Among these, the metal on biocompatible material devices market has acquired the leadership with majority share. The market segment is likely to maintain its leadership over the forecast period, notes the research study.

On the basis of end user, the global cervical total disc replacement device market is segmented into hospitals and ambulatory surgical centers. The hospital segment emerged as the leading end user of cervical total disc replacement devices in 2014. However, the ambulatory surgical centers segment is anticipated to register the highest growth rate during the forecast period, says the market report.

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The global cervical total disc replacement device market is spread across North America, Latin America, Asia, Europe, and the Middle East and Africa, cites the market study. Among these, the cervical total disc replacement device market in North America has occupied the leading position, accounting for more than 45% of the overall market. This regional market is likely to maintain its dominance over the forecast period.

Apart from this, the cervical total disc replacement device market in Latin America and Asia are expected to show remarkable growth during the period of forecast at a CAGR of 18.50% and 23.80% respectively.

View TOC (table of content), Figures and Tables of the Report: http://www.persistencemarketresearch.com/toc/3775

Medtronic plc, NuVasive Inc., DePuy Synthes, LDR Holdings, Globus Medical, and Johnson & Johnson Services Inc. are the major players operating in the global market for cervical total disc replacement devices. The key participants of this market are mainly focused on increasing their presence across the globe with the help of mergers and acquisitions as well as strategic partnerships and collaborations, states the research report.

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