The global cervical total disc replacement device market is expected to grow at a compound annual growth rate of 23.1 percent between 2015 and 2021.
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.