Cervical Total Disc Replacement Devices Market is Growing Exponentially in Order to Gain More Demand by 2030 | Stryker Corporation, Medtronic plc., Zimmer Biomet Holdings, Inc.

Cervical Total Disc Replacement Device Market Analysis

Cervical Total Disc Replacement Devices Market, By Design (Constrained, Semi-constrained, and Unconstrained), By Material (Metal-on-Biocompatible and Metal-on-Metal), By End User (Ambulatory Surgical Centers, Clinics, and Hospitals), and By Region (Africa, Latin America, Asia Pacific, Europe, North America, and the Middle East)—Share, Outlook, Size, and Opportunity Analysis, 2019–2027

The prevalence of degenerative disc disorder increases with age, resulting in decreased mobility. This trend is predicted to boost market growth, as indicated by data from the American Academy of Orthopedic Surgeons in 2017, which revealed that cervical radiculopathy affects 64 in 100,000 females and 107 in 100,000 males in the United States. Additionally, the cervical total disc replacement device market is being propelled by technological advancements, recent clinical trials, and FDA approvals. For instance, Simplify Medical, Inc. received approval from the European medical device regulatory authority in March 2015 for their MRI-compatible artificial disc, the Simplify Disc.

The global market for cervical total disc replacement device is predicted to reach a value of US$ 1,105.1 Mn in 2022 growing at a CAGR of 21.7 % throughout the projected timeframe from 2023 to 2030.

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Market Drivers:

The global market for cervical total disc replacement devices is experiencing growth, mainly due to the rising incidence of degenerative disc disorders and the expanding elderly population worldwide.

In 2017, the American Academy of Orthopedic Surgeons reported that cervical radiculopathy, a condition characterized by pain, weakness, or numbness in the neck and surrounding regions due to compressed nerves from cervical disc degeneration, had a yearly occurrence of 107 per 100,000 males and 64 per 100,000 females in the United States. The market growth is also attributed to the frequent approval of products. As an example, AxioMed LLC received CE mark approval for its Cervical Freedom Total Disc Replacement in March 2019. Similarly, in July 2017, Medtronic’s Prestige LP cervical disc was approved by the US Food and Drug Administration (FDA) for treating cervical disc degeneration or disease that causes nerve or spinal cord compression at two adjacent levels between the C3-C7 segments of the neck. The Prestige LP disc is Medtronic’s third clinically proven artificial cervical disc, and it is the initial to be deemed effective and safe for both first- and second-level processes.

Market Restraints:

The growth of the cervical total disc replacement device market is projected to be hindered in the coming years due to the expensive nature of the associated procedures such as artificial disc replacement operations and spinal fusion operations. As an example, in various states of the U.S., the cost of a particular disc replacement surgery can range from US$ 16,000 to US$ 46,000 on average.

Furthermore, the growth of the cervical total disc replacement device market is anticipated to be impeded during the forecast period due to the use of alternative therapies such as physiotherapy and specialized exercises for treating cervical disc degenerative disease. The Toronto Physiotherapy Journal published data in January 2014 indicating that physiotherapy is the preferred initial treatment for degenerative disc disorders like cervical disc degeneration and other spine degeneration diseases in the elderly population.

Regional Analysis:

The global cervical total disc replacement devices market is classified based on geographical areas such as Africa, Latin America, Asia Pacific, North America, Europe, and the Middle East.

During the projected period, the North American market for cervical total disc replacement devices is predicted to experience substantial expansion, primarily due to the major players introducing a higher number of products. As an example, Atlas Spine Inc. introduced the HiJak AC expandable cervical interbody fusion device to the market in March 2019. Additionally, the rising healthcare expenditure in the region is anticipated to further fuel growth in the global cervical total disc replacement device market during the projected period. As an example, the National Health Expenditure report indicates that healthcare expenses in the United States surpassed $1 trillion in 2018.

In Europe, market players are anticipated to benefit from the promising growth prospects presented by the research and development of cervical total disc replacement technology. An illustration of this is the work carried out by researchers at the Institute for Biomechanics in Switzerland, who announced in September 2019 that they had devised a technique for the regulated distribution of epigallocatechin 3-gallate to address intervertebral disc degeneration. The method is predicted to aid in the reinstatement of the intervertebral disc’s homeostasis. In addition, the growth of the cervical total disc replacement device market in Europe is being fueled by the presence of products that have been CE marked, such as the Freedom Cervical Disc from AxioMed LLC.

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Prominent players:

• Medtronic Plc
• Globus Medical, Inc.
• Centinel Spine, Inc.
• Stryker Corporation
• Orthofix Medical, Inc.
• Zimmer Biomet Holdings, Inc.
• FH Orthopedics
• NuVasive, Inc.

Report Attribute	Details
The market size value in 2023	USD 2,395.1 million
The revenue forecast in 2030	USD 9,539.2 million
Growth Rate	CAGR of 21.8%
The base year for estimation	2022
Historical data	2017 – 2021
Forecast period	2023 – 2030
Growth Drivers:	Increasing Prevalence of Degenerative Disc Diseases, Advantages over Fusion Surgery, Technological Advancements, Increasing Aging Population, Rising Preference for Minimally Invasive Procedures.
Restraints & Challenges:	High Cost of CTDR Devices, Limited Awareness and Surgeon Training, Regulatory Hurdles, Lack of Long-term Clinical Data, Surgical Complexity and Risks.

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Table of Contents with Major Points:

Executive Summary

• Introduction
• Key Findings
• Recommendations
• Definitions and Assumptions

Market Overview

• Definition of Cervical Total Disc Replacement Devices Market
• Market Dynamics
• Drivers
• Restraints
• Opportunities
• Trends and Developments

Key Insights

• Key Emerging Trends
• Key Developments Mergers and Acquisition
• New Product Launches and Collaboration
• Partnership and Joint Venture
• Latest Technological Advancements
• Insights on Regulatory Scenario
• Porters Five Forces Analysis

Qualitative Insights Impact of COVID-19 on Global Cervical Total Disc Replacement Devices Market

• Supply Chain Challenges
• Steps taken by Government/Companies to overcome this impact
• Potential opportunities due to COVID-19 outbreak

Conclusion 

Appendix

• Data Sources
• Abbreviations
• Disclaimer

TOC Continued…!

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