Global Cervical
Total Disc Replacement Devices Market, By Material (Metal-on-metal and
Metal-on-biocompatible), By Design (Constrained, Semi-constrained, and
Unconstrained), By End User (Hospitals, Ambulatory Surgical Centers, and
Clinics), and By Region (North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa) is estimated to be valued at US$ 1,105.1 million in
2019 and is expected to exhibit a CAGR of 21.7% over the forecast period (2019-2027),
as highlighted in a new report published by Coherent Market Insights.
Market players are more focused
on adoption of inorganic growth strategies such as acquisitions,
collaborations, and partnerships to strengthen their position in the cervical total
disc replacement device market. For instance, in March 2018, Orthofix
International N.V., a global medical device company, announced the acquisition
of Spinal Kinetics Inc., a privately held developer and manufacturer of
artificial cervical and lumbar discs. With this acquisition, Orthofix added
Spinal Kinetics’ M6 artificial discs including M6-C cervical and M6-L lumbar
artificial discs for patients suffering from degenerative disc disease (DDD) of
the spine to its portfolio.
Moreover, various companies are
developing advance solutions for treatment of cervical disc disease. Surgical
methods such as artificial disc replacement surgeries and spinal fusion
surgeries are costly which has created opportunities for manufacturers to
provide low cost surgeries in middle income countries and support growth of the
degenerative disc disease treatment market. For instance, according to the
Spine and Neuro Surgery Hospital India, cost of disc replacement surgery in
India ranges from US$ 3,500 to US$ 5,500, which is considerably less than the
cost of surgery in the U.S. or U.K.
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Browse 35 Market Data Tables and
31 Figures spread through 160 Pages and in-depth TOC on Global Cervical Total
Disc Replacement Devices Market, By Material (Metal-on-metal and Metal-on-biocompatible),
By Design (Constrained, Semi-constrained, and Unconstrained), By End User
(Hospitals, Ambulatory Surgical Centers, and Clinics), and By Region (North
America, Latin America, Europe, Asia Pacific, Middle East, and Africa), –
Global Forecast to 2027
Development of innovative
treatments for degenerative disc disease (DDD) and product approvals are
contributing to the growth of the market. For instance, in July 2016, Medtronic
plc. received the U.S. Food and Drug Administration (FDA) approval for its
two-level Prestige LP Cervical Disc Procedure for treatment of cervical disc
disease causing nerve or spinal cord compression at two adjacent levels between
the C3-C7 segments of the neck.
Moreover, the increasing
healthcare expenditure is expected to boost growth of the global cervical total
disc replacement device market during the forecast period. For instance,
according to the National Health Expenditure report, people in the U.S. spent
over US$ 1 trillion on healthcare in 2018.
Adoption of inorganic growth
strategies by key player is another factor driving the cervical total disc
replacement devices market growth. For instance, in June 2018, Zimmer Biomet
Holdings, a manufacturer of musculoskeletal devices, acquired LDR Holding Corp
(LDRH) for US$ 1 billion. With this acquisition, the company added LDR’s Mobi-C
cervical disc replacement and Mivo lumbar and cervical fusion devices to its
Spine & Craniomaxillofacial (CMF) business.
Browse Research
Report: https://www.coherentmarketinsights.com/market-insight/cervical-total-disc-replacement-device-market-1763
Key Takeaways of the Global
Cervical total disc replacement devices market:
The global cervical total disc
replacement devices market is expected to exhibit a CAGR of 21.7% over the
forecast period (2019-2027) owing to launches of cervical total disc
replacement devices in the market. In October 2018, Zimmer Biomet Holdings,
Inc. launched its novel Mobi-C Cervical Disc for cervical total disc
replacement in Japan. The product was approved by the Japan Ministry of Health,
Labour and Welfare (MHLW) in May 2018.
Among material, the
metal-on-biocompatible segment is expected to drive the market growth owing to
product launches. For instance, in September 2019, NuVasive, Inc. launched
Modulus Cervical, a porous titanium interbody implant for cervical
applications.
Some of the major players
operating in the global cervical total disc replacement devices market include
Stryker Corporation, Medtronic Plc, Zimmer Biomet Holdings, Inc., Globus
Medical, Inc., FH Orthopedics, Orthofix Medical Inc., NuVasive Inc., and
Centinel Spine, Inc.
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report: https://www.coherentmarketinsights.com/insight/buy-now/1763
About
Coherent Market Insights:
Coherent
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services, and competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar
opportunity.
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