The global cervical total disc replacement device market is anticipated to hit $1.75 billion by 2021, based on a Market.Biz report, according to InvestDailyNews.
Here are seven observations:
1. The market will likely grow at a compound annual growth rate of 23.1 percent between 2015 and 2021.
2. An increasing geriatric population, low revision surgery rate and the growing popularity of advanced cervical total disc replacement devices will spur market growth.
3. Key market trends include technological innovation, investment in research and development activities as well as acquisition and merger activity.
4. The market's metal-on-biocompatible material segment accounts for the greatest market share.
5. The cervical total disc replacement device market is anticipated to grow at a greater CAGR in the ambulatory surgery center segment, than in the hospital segment during the forecast period. This trend is due to more surgeons performing minimally invasive cervical disc replacements in ASCs.
6. North America will continue to lead the global market, while the Asia-Pacific region will experience significant growth because of its large population.
7. Medtronic, DePuy Synthes, Globus Medical, NuVasive and LDR dominate the space.