This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players.
Cervical total disc replacementdevices are meant to restore motion to the spine by replacing the worn, degenerated disc.Degenerative disc disorders (DDD), a clinical condition where in spinal disc is affected use the cervical total disc replacement devices during the cervical total disc replacement surgeries; it shrinks from its normal height causing a pressure on the nerves and pain in the cervical region and arms. This condition could be an outcome of predisposition for spinal diseases due to genetic disorders, accidental injuries, obesity, age, and other occupational risk factors.
The cervical disc replacement device typically constitutes a ridged outer body, which is constructed with a soft inner corer for treating.
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The cervical total disc replacement device market has been segmented by branded devices into Discover Cervical Disc, Triadyme-C Cervical Total Disc Replacement (cTDR), Cadisc C Intervertebral DiscSecure CR Cervical Artificial Disc, Bryan Cervical Artificial Disc, Mobi-C cervical disc, Aramis Anterior Cervical Disc, Prestige Cervical Disc, ProDisc-C Total Disc Replacement system and others.
A growing number of suppliers who are investing in improved next generation cervical total disc replacement devices such as Secure-CR cervical artificial disc and clinical trialsfor new devices are expected to boost the growth of cervical total disc replacement devices market. Further, increasing geriatric population and spinal injuries in road accidents would be the driving forces for cervical total disc replacement device market, whichhas grown tremendously in recent years.
The increasing prevalence of degenerative disc disorders will fuel the growth of cervical total disc replacement device market.
Firstly, entry of new players in the market such as LDR Holding Corporation, which has emerged as a major player in the market after receiving its first FDA clearance in 2013 for Mobi-C Cervical Disc for both one- and two-level cervical disc replacement. Secondly, increasing global awareness of cervical total disc replacement procedure successes are the two key opportunities for growth in the cervical total disc replacement devices market.
However, some of the restraints in this foresighted growth could be exclusion criteria’s of private health insurance companies and difficulty in reimbursement from private payers globally. The high costs of the cervical disc replacement surgery could challenge growth in under developed and developing countries where there is lack of social health insurance and withinability of the patientsto afford the surgery.
Geographically, North America (U.S and Canada) will dominate thecervical total disc replacement devices market. Europe attributed to the higher purchasing power and social health insurance to cover the expenses for cervical disc and otherdisc replacement surgeries.
On the other hand, cervical artificial discs are still a relatively newer technology in under-developed and developing regions. However, Asia Pacific could be a profitable market due to the gradual dispersion of newer disc replacement technologies in this region, large pool of patients, increasing healthcare expenditure in the region during the forecast period.
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Some of the key players operating in the cervical disc replacement market include AxioMed LLC, DePuy Synthes,Globus Medical Inc., LDR Holding Corporation, Medtronic, Inc., NuVasive, Inc., oSimplant, Ranier Technology Limited, Stryker Corporation, ZimmerBiomet among others.
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