The cervical total disc replacement device market is anticipated to reach $1.75 billion by 2021, growing at a 23.1 percent compound annual growth rate.
Here are four highlights:
1. In 2015, the market was valued at $489.7 million. Further market growth is driven by a growing geriatric population, low revision surgery rates and increased demand for advanced cervical total disc replacement devices.
2. While the market is expected to see rapid growth, inadequate reimbursement policies and lack of clinical data could hinder market growth.
3. North America is predicted to hold the largest share of the market, 45 percent while Asia and Latin America are expected to expand at compound annual growth rates of 23.8 percent and 18.5 percent, respectively.
4. Market competitors include Medtronic, DePuy Synthes, Globus Medical, NuVasive and LDR Holding.