Here are seven observations:
1. Up from $489.7 million in 2015, the market will likely be worth $1.75 billion in 2021.
2. Market drivers include an aging population and a low revision rate of CTDR surgery.
3. Unfavorable reimbursement policies and a dearth of clinical data will serve as market growth obstacles, however.
4. In 2015, North America led the space with a 45 percent market share.
5. The Asian market is expected to grow at a 23.8 percent CAGR throughout the forecast period.
6. The Latin American market will likely grow at an 18.5 percent CAGR through 2021.
7. Dublin, Ireland-based Medtronic; West Chester, Pa.-based DePuy Synthes; Audubon, Pa.-based Globus Medical; San Diego-based NuVasive; and Austin, Texas-based LDR Holding Corp. lead the CTDR device market.
More articles on devices:
What Stryker CEO Kevin Lobo said on CNBC: 7 key quotes on healthcare, business & the future
Providence Medical Technology receives $10.5M new equity financing — 5 points
Stavros Vizirgianakis to lead Misonix as new president, CEO: 5 things to now
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
