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Cervical Total Disc Replacement Device Market Overview and Share Forecasted to 2026
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The global cervical total disc replacement market was valued at US$ 771.6 million in 2017, and is expected to witness a CAGR of 22.1% over the forecast period (2018 – 2026).
Increasing prevalence of cervical degenerative disc disorder is expected to propel growth of the total disc replacement devices market. According to an article ‘Global Burden of Disease’ published in the journal Lancet in 2016, neck pain is one of the most prevalent disease worldwide, which degrades the quality of life. Major cause for neck pain is chronic disease cervical degenerative disease. According to International Association for the Study of Pain factsheet in 2017, neck pain affects 30-50% general population annually, 15% of this population is projected to experience chronic neck pain in their lifetime. This neck pain is associated with cervical disc disorder. Increasing number of old age population worldwide is expected to fuel growth of total disc replacement devices market, owing high risk of developing degenerative disease related to cervical spine. Other treatment approaches such as pharmacological intervention do not provide long lasting cure therefore disc replacement remains key treatment approach.
However, high cost associated with artificial disc is expected to restrain growth of the market. Private insurer may not cover the cost of cervical total disc replacement device along with cost of surgery, therefore in this case patient has to do out of pocket expenditure for receiving device and surgery.
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Innovative products by key players to drive growth of the cervical total disc replacement devices market
Several companies are launching the new products with better clinical safety and efficacy, which is expected to fuel growth of C-TDR market. Manufacturers are introducing new products with varying material and design aiming to provide better relief and simulation with natural cervical disc. In February 2018, Simplify Medical received the U.S. patent for innovative cervical motion preservation intellectual property (IP) portfolio. The Simplify Disc from Simplify Medical is anatomically designed with low height implants option till four mm. Therefore, it minimizes risk associated with radiation, optimize long-term durability, simplify implantation, and increase access to cervical disc replacement for patients with smaller anatomies. It is made up of no-metallic PEEK material, which allows postoperative care without need of CT scan. Companies such as AxioMed are involved in geographic expansion of their innovative products. For instance, in 2016, AxioMed received approval for cervical and lumbar Freedom viscoelastic disc replacement devices from the Therapeutic Goods Administration (TGA) of Australia. First surgery that utilized artificial disc from AxioMed was carried out in 2017
Key players operating in the global cervical total disc replacement devices market include AxioMed Corporation, DePuy Synthes Spine, FH Orthopaedics, Globus Medical, LDR Holdings, Medicrea, Medtronic Sofamor Danek, NuVasive, Osimplant, Pioneer Surgical, Ranier Technology, Spinal Kinetics, Spinal Motion, and Stryker Corporation
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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