Global CervicalTotal Disc Replacement Devices Market, By Material (Metal-on-metal andMetal-on-biocompatible), By Design (Constrained, Semi-constrained, andUnconstrained), By End User (Hospitals, Ambulatory Surgical Centers, andClinics), 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 in2019 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 focusedon adoption of inorganic growth strategies such as acquisitions,collaborations, and partnerships to strengthen their position in the cervical totaldisc replacement device market. For instance, in March 2018, OrthofixInternational N.V., a global medical device company, announced the acquisitionof Spinal Kinetics Inc., a privately held developer and manufacturer ofartificial cervical and lumbar discs. With this acquisition, Orthofix addedSpinal Kinetics’ M6 artificial discs including M6-C cervical and M6-L lumbarartificial discs for patients suffering from degenerative disc disease (DDD) ofthe spine to its portfolio.
Moreover, various companies aredeveloping advance solutions for treatment of cervical disc disease. Surgicalmethods such as artificial disc replacement surgeries and spinal fusionsurgeries are costly which has created opportunities for manufacturers toprovide low cost surgeries in middle income countries and support growth of thedegenerative disc disease treatment market. For instance, according to theSpine and Neuro Surgery Hospital India, cost of disc replacement surgery inIndia ranges from US$ 3,500 to US$ 5,500, which is considerably less than thecost of surgery in the U.S. or U.K.
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Browse 35 Market Data Tables and31 Figures spread through 160 Pages and in-depth TOC on Global Cervical TotalDisc 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 (NorthAmerica, Latin America, Europe, Asia Pacific, Middle East, and Africa), –Global Forecast to 2027
Development of innovativetreatments for degenerative disc disease (DDD) and product approvals arecontributing to the growth of the market. For instance, in July 2016, Medtronicplc. received the U.S. Food and Drug Administration (FDA) approval for itstwo-level Prestige LP Cervical Disc Procedure for treatment of cervical discdisease causing nerve or spinal cord compression at two adjacent levels betweenthe C3-C7 segments of the neck.
Moreover, the increasinghealthcare expenditure is expected to boost growth of the global cervical totaldisc replacement device market during the forecast period. For instance,according to the National Health Expenditure report, people in the U.S. spentover US$ 1 trillion on healthcare in 2018.
Adoption of inorganic growthstrategies by key player is another factor driving the cervical total discreplacement devices market growth. For instance, in June 2018, Zimmer BiometHoldings, a manufacturer of musculoskeletal devices, acquired LDR Holding Corp(LDRH) for US$ 1 billion. With this acquisition, the company added LDR’s Mobi-Ccervical disc replacement and Mivo lumbar and cervical fusion devices to itsSpine & Craniomaxillofacial (CMF) business.
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Key Takeaways of the GlobalCervical total disc replacement devices market:
The global cervical total discreplacement devices market is expected to exhibit a CAGR of 21.7% over theforecast period (2019-2027) owing to launches of cervical total discreplacement devices in the market. In October 2018, Zimmer Biomet Holdings,Inc. launched its novel Mobi-C Cervical Disc for cervical total discreplacement in Japan. The product was approved by the Japan Ministry of Health,Labour and Welfare (MHLW) in May 2018.
Among material, themetal-on-biocompatible segment is expected to drive the market growth owing toproduct launches. For instance, in September 2019, NuVasive, Inc. launchedModulus Cervical, a porous titanium interbody implant for cervicalapplications.
Some of the major playersoperating in the global cervical total disc replacement devices market includeStryker Corporation, Medtronic Plc, Zimmer Biomet Holdings, Inc., GlobusMedical, Inc., FH Orthopedics, Orthofix Medical Inc., NuVasive Inc., andCentinel Spine, Inc.
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