January 11, 2023 08:43 ET | Source: Zion Market Research Zion Market Research
Houston, TX, Jan. 11, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Global Cervical Total Disc Replacement Device Market By Disc Type (Metal On Metal And Metal On Biocompatible), By Material (Polyethylene, Stainless Steel, Titanium, Cobalt-Chrome, Polycrystalline Diamond, And Others), By Design (Constrained, Semi-Constrained, And Un-Constrained), By End User (Hospitals, Ambulatory Surgical Centers, Private Clinics, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database. Cutting Wheel
“According to the latest research study, the demand of global Cervical Total Disc Replacement Device Market size & share in terms of revenue was valued at USD 1.7 billion in 2021 and it is expected to surpass around USD 7.8 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 18.5% during the forecast period 2022 to 2030.”
What is Cervical Total Disc Replacement Device? How big is the Cervical Total Disc Replacement Device Industry?
Cervical Total Disc Replacement Device Report Coverage & Overview:
The cervical spine comprises seven vertebras, which are separated by an intervertebral disc from each other. Cervical discs are helpful in the movement of the neck and back; they allow sideward and bending movement of the body. They are also useful in neck stabilizing and shock absorbing. Cervical discs stop functioning owing to disc herniation, which is caused by degenerative diseases or trauma. Disc herniation can be recognized by symptoms such as a headache, weakness, shoulder pain, numbness, and neck pain. Degenerative disc disease results in pain, stiffness of the neck, and less flexibility. Initially, these diseases are tackled with anti-inflammatory medications, spine injections, physical therapy, and cold or heat therapy. However, surgical treatments are recommended when these conventional treatments fail to recover.
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Global Cervical Total Disc Replacement Device Market: Growth Dynamics
The market for cervical total disc replacement devices is anticipated to expand as a result of an increasing number of providers making investments in clinical trials for new devices as well as better next-generation cervical total disc replacement devices like Secure-CR cervical artificial disc. The global cervical total disc replacement device market, which has expanded significantly in recent years, will also be driven by an aging population and spinal injuries from car accidents. The market for cervical total disc replacement devices will expand due to the rising prevalence of degenerative disc conditions. However, the high cost associated with the cervical total disc replacement device is expected to hamper the market growth during the forecast period.
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Cervical Total Disc Replacement Device Market: Segmentation Analysis
The global cervical total disc replacement device market is segmented based on the disc type, material, design, end user, and region.
Based on the end user, the market is segmented into hospitals, ambulatory surgical centers, private clinics, and others. The hospital's segment held the largest market share in 2021 and it is expected to continue the same pattern during the forecast period. The growth in the segment is attributed to the presence of a vast number of hospitals, especially those dealing in orthopedic surgeries. Moreover, the insurance provides coverage for the predominant hospital procedures. On the other hand, the ambulatory surgical centers segment is expected to grow at the highest CAGR over the forecast period.
The segmental growth is owing to the numerous policies adopted by nations like the US, which encourage patients to use ASCs. Additionally, the American rescue plan has given the ASCs segment higher attention. The US government projects that using the ASC model will save about $32 billion by 2022.
The global Cervical Total Disc Replacement Device market is segmented as follows:
Browse the full “Global Cervical Total Disc Replacement Device Market By Disc Type (Metal On Metal And Metal On Biocompatible), By Material (Polyethylene, Stainless Steel, Titanium, Cobalt-Chrome, Polycrystalline Diamond, And Others), By Design (Constrained, Semi-Constrained, And Un-Constrained), By End User (Hospitals, Ambulatory Surgical Centers, Private Clinics, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” Report at https://www.zionmarketresearch.com/report/cervical-total-disc-replacement-device-market
Some of the main competitors dominating the global Cervical Total Disc Replacement Device market include -
Key Insights from Primary Research:
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North America holds the largest market share in the global cervical total disc replacement device market. The higher percentage of the aging population living in this region is anticipated to boost global market growth. Besides, the Asia Pacific is emerging as the second largest market for cervical total disc replacement as healthcare industries are growing at a faster rate, which in turn may fuel the global cervical total disc replacement device market. In addition, China and India are major competitors in the global cervical total disc replacement device market. Moreover, rising government funding and a large pool of patients are expected to propel the global market growth in the future.
In October 2022, Centinel Spine®, LLC, a leading global medical device company addressing cervical and lumbar spinal disease through anterior surgical access, announced the continued expansion of the availability of the prodisc® Cervical Total Disc Replacement (TDR) portfolio that allows the disc to be matched to patient anatomy. In July, the company received U.S. Food and Drug Administration approval for 1-level indications for prodisc C Vivo, prodisc C SK, and prodisc C Nova. Along with the currently available prodisc C implant, which remains the most studied TDR technology, Centinel Spine now has the broadest offering in the world of cervical TDR solutions to address surgeon preference and individual patient anatomy.
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