Cervical artificial discs are used to treat degenerative disc disorders (DDDs) in the cervical region from C3 to C7. Cervical artificial discs are inserted between two cervical discs after removal of a degenerated intervertebral disc. The basic functionality of this device is to preserve motion in the disc space. Cervical disc replacement procedure is an alternative to the spinal fusion procedure for the treatment of DDDs.
Increasing prevalence of chronic diseases and growing ageing population are the main factors expected to positively affect the growth of the cervical total disc replacement (CTDR) device market across the globe over the next decade.
Cervical Total Disc Replacement Device Market Trends
Cervical Disc Replacement Being Preferred Over Spinal Fusion: Neck pain is the major cause for the development of DDDs in the cervical region of the spine. Cervical total disc replacement devices are used to treat patients suffering from degenerative disc disorders (DDDs). This is a minimal incision surgery (MIS) and results in quick recovery post-surgery, short hospital stay, and low revision surgery rate. Various benefits of this procedure are increasing the 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.
Growing Ageing Population & Innovative Products Aiding Market Growth: Growing ageing population, low revision surgery rate of cervical disc replacement surgery, and increasing demand for advanced innovative CTDR devices for the treatment of both, class I and class II degenerative disc diseases, are major factors leading to increased demand for CTDR devices, thereby fuelling the growth of the cervical total disc replacement device market.
Other important trends in the CTDR device market include technological advancements with regard to these devices, consistent investment in research & development, and surge in acquisitions and mergers by major players in the CTDR device market space.
Regional Outlook of CTDR Device Market
The prevalence of neck pain is comparatively higher in Western countries around the world as compared to APAC. North America is the most dominant region in this space, holding more than 50% of the global cervical total disc replacement device market share. Europe holds the second-largest share in the global market, with more than ¼ market share, and is projected to maintain this position through 2030.
Cervical Total Disc Replacement Device Market: Competition Analysis
Key market players covered in this report are Medtronic, plc, Depuy Synthes, Globus Medical, Inc., NuVasive, Inc., LDR Holding Corporation, and many others. Major players in the cervical total disc replacement device market are focusing on enhancing their global and regional presence through strategic acquisitions and mergers, operational expansion, and R&D that leads to the invention of innovative products.
COVID-19 Impact on Cervical Total Disc Replacement Device Market
The COVID-19 pandemic has affected the whole world, and shows no signs of slowing down. The outbreak has affected the working of the healthcare community too, with non-essential treatments and procedures either put on hold or postponed. The manufacturing sector too is focusing on increasing the output of essential protective equipment and gear, to combat the spread of the virus. As such, the CTDR device market will witness less than normal growth in the near-term.
Analysis of the global cervical total disc replacement device market has led our analysts to conclude that, the market is set to expand around six-fold over the next ten years. Hospitals will continue to be the largest end users of CTDR devices. Market players can be assured that North America, followed by Europe, will lead the growth of the market through 2030.
Cervical Total Disc Replacement (CTDR) Device Market - Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global cervical total disc replacement (CTDR) device market. The study provides detailed assessment of key market dynamics, including the drivers, trends, opportunities restraints, and detailed information about the cervical total disc replacement device market structure. The market study presents exclusive information about how the cervical total disc replacement device market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market and compound annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. Other information includes definitions, drivers, and opportunity analysis by region and by product, which helps in the deep understanding of the market segment details by researchers, suppliers, manufactures, and distributors. This information can help readers understand the quantitative growth prospects of the CTDR device market during the forecast period.
The study is relevant for manufacturers, physicians, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researchers, shareholders, and industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to the macroeconomics factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the cervical total disc replacement device market. Furthermore, small businesses and new entrants in the cervical total disc replacement device market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
PMR’s study on the CTDR device market offers information divided into five important segments—disc type, material, indication, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Segments of Cervical Total Disc Replacement Device Market
Questions Answered in PMR’s Report on the CTDR Device Market Report
Cervical Total Disc Replacement Device Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the cervical total disc replacement device market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the CTDR device market study include statistics from government healthcare organizations, medicines journals, research journals, press releases, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as validation from companies in the cervical total disc replacement device market, and makes PMR’s projections on the growth prospects of the cervical total disc replacement device market more accurate and reliable.