Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Cervical disc replacement procedure involves minimally invasive surgery, which is indicated for the treatment of degenerative disc disease (DDD). Moreover, disc degeneration is a phenomenon associated with aging and occurs in different individuals with varying degree of degeneration. DDD may lead to lower back pain and neck pain.
Moreover, prevalence of neck pain is higher in the western countries in comparison to Asia Pacific. Moreover, neck pain is more common in women over men and the risk of developing neck pain is high in women of age group of 35 to 49 years. The global cervical total disc replacement device market is estimated to be valued at US$ 1,106.0 Mn in terms of value by the end of 2019.
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Global Cervical Total Disc Replacement Device Market: Drivers
The increasing number of government investments in innovative medical projects is expected to fuel growth of the global cervical total disc replacement device market over the forecast period. For instance, in December 2019, the Government of Australia invested over US$ 14.7 million in 17 ground-breaking medical projects. In one of these projects, Kunovus Technologies Pty Ltd. is developing an elastomeric motion-preserving implant for the treatment of lumbar spine osteoarthritis as an alternative to fusion.
Global Cervical Total Disc Replacement Device Market: Opportunities
Moreover, rising number of adoption of cervical artificial disc replacement in outpatient setting is expected to offer lucrative growth opportunities for players in the global cervical total disc replacement device market. For instance, in November 2019, a study ‘The Safety of Single and Multi-Level Cervical Total Disc Replacement in Ambulatory Surgery Centers’ published in the journal Spine, found that in an outpatient setting, single and multi-level cervical artificial disc replacement was safe and effective.
Global Cervical Total Disc Replacement Device Market: Restraints
However, there is no sufficient evidence that demonstrates the superiority of cervical total disc replacement over anterior cervical discectomy. This factor is expected to hamper growth of the global cervical total disc replacement device market over the forecast period.
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Key Takeaways:
Among material type, metal on biocompatible segment was valued at US$ 794.8 Mn in 2018 in the global cervical total disc replacement device market and is expected to reach US$ 5,132.5 Mn by 2027 exhibiting a CAGR of 23.1% over the forecast period. The growth of the segment is attributed to increasing number of technological advancements for development of efficient devices during the forecast period.
Moreover, hospital segment accounted for the highest market share of 74.9% share in terms of value in the global cervical total disc replacement device market in 2018, followed by ambulatory surgical centers, respectively. The segment growth is attributed to rising patient population.
Market Trends
Moreover, key players in the market are focusing on expanding their product offerings, in order to enhance their market share. For instance, in November 2019, NuVasive, Inc. received the U.S. FDA 510(k) clearance for expanded indications for the CoRoent Small Interlock system, which can now be used in more than two level procedures.
Furthermore, market players in the market are also focusing on commercialization of their products to enhance their market share. For instance, in July 2019, EmergeOrtho, P.A. announced the first implant of M6-C artificial cervical disc for the treatment of cervical disc degeneration.
Global Cervical Total Disc Replacement Device Market: Competitive Landscape
Key players operating in the global cervical total disc replacement device market include LDR Holdings, Johnson & Johnson Services, Inc., Medtronic, Plc., Centinel Spine LLC, Orthofix Medical Inc., Globus Medical, Inc., and NuVasive, Inc.
Key Developments
Major market players are focusing on product launches to expand their product portfolio. For instance, in September 2019, NuVasive, Inc. launched Modulus Cervical, a porous titanium interbody implant for cervical applications.
Additionally, key players in the market are also focusing on conducting clinical trials. For instance, in August 2019, Centinel Spine, LLC announced first implantation in an Investigational Device Exemption (IDE) study for evaluating two different cervical total disc replacement (TDR) devices.
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Segmentation
- Cervical Total Disc Replacement Device Market, By Material Type:
- Metal on Biocompatible
- Metal on Metal
- Cervical Total Disc Replacement Device Market, By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cervical Total Disc Replacement Device Market, By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
- Middle East
- Asia Pacific
- Europe
- Latin America
- North America
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