Rise in Cervical Degenerative Diseases and Geriatric Population Drives Global Cervical Total Disc Replacement (CTDR) Devices Market


  • Published On : Nov 04, 2015

Cervical total disc replacement (CTDR) devices are a class of medical devices used for treating patients suffering from degenerative disc disorders (DDD). Cervical disc replacement procedures are performed to treat cases of DDD, where the degenerated disc is surgically removed and replaced with an artificial disc in the vertebra. Such surgeries are minimally invasive and often lead to quick recovery post-surgery. Such surgeries are also associated with a shorter hospital stay and do not require revision surgeries.

The numerous benefits of surgeries using cervical total disc replacement devices market are prompting their increased adoption as compared to conventional spinal fusion surgeries across the globe. Conventionally, degenerative disc disorders are treated through spinal fusion surgeries, which often need revision surgeries and post-fusion surgeries. Due to these factors, medical practitioners prefer cervical disc replacement devices over spinal fusion surgeries. Market figures give testimony to the fact that demand for CDR devices is thus rapidly rising.

The global total disc replacement market had a valuation of US$614.4 mn in 2014. The market for CTDR devices accounted for a 66% share in the market and was valued at US$409.7 mn. Expanding at an impressive 23.1% CAGR between 2015 and 2021, the market for CTDR devices is projected to achieve a market value of US$1,750.1 mn by 2021.

Global CTDR Devices Market: Increased Demand from Ambulatory Surgery Centers Propels Growth Prospects

The global market for cervical total disc replacement devices can be segmented into material types, key end users, and key regional markets.

Based on the type of material, the market is segmented into metal on a biocompatible material and metal on metal. Of these, the market segment of metal on biocompatible materials holds a majority market share in terms of value as well as volume. A key reason behind this situation is the large number of products available in the metal on biocompatible material section. Metal on biocompatible material products also offer many benefits such as higher degree of rotation and movement over metal on metal products.

The key end users of CTDR devices include hospitals and ambulatory surgery centers (ASCs). Of these, the hospitals segment currently dominates the global CTDR market. However the segment of ASCs is expected to expand at a higher CAGR over the coming years as compared to the hospitals segment. This can be credited to the fact that cervical disk replacement surgeries are minimally invasive and can be performed in ASCs quite reliably.

Some of the key driving forces of the global cervical total disc replacement devices market include the rising prevalence of a number of chronic diseases, growing population of geriatrics across the globe, and lack of need of revision surgery rates. Some of the major trends witnessed in the market in recent times include consistent investment in research and development activities, development of technologically advanced devices, and a surge in mergers and acquisitions.

Global CTDR Devices Market: Continuous Research and Development Activities Lead to Development of More Reliable Devices

The global CTDR devices market features companies that are actively involved in research and development of more accurate and reliable devices. Owing to the promising growth opportunities in the market, investors are also actively investing in technologically advanced and vastly improved products. Some of the key businesses operating in the global market for CTDR devices include Medtronic, plc, Depuy Synthes, NuVasive, Inc., Globus Medical, Inc., and LDR Holding Corporation.

Browse Full Global Cervical Total Disc Replacement (CTDR) Devices Market Research Report With Complete TOC @ http://www.persistencemarketresearch.com/market-research/cervical-total-disc-replacement-market.asp

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