The global cervical total disc replacement device market will likely continue to grow at a compound annual growth rate of 23.1 percent through 2021, according to a Persistence Market Research report.
Here are five observations:
1. In 2014, the CTDR device market captured 66 percent of the global total disc replacement market.
2. The CTDR device market is expected to be worth $1.75 billion by 2021.
3. The growing number of chronic disease cases as well as the increasing aging population will boost the CTDR device market.
4. North America is anticipated to continue dominating the market, with the Asian market growing at a 23.8 percent CAGR and the Latin American market growing at an 18.5 percent CAGR through 2021.
5. Dublin, Ireland-based Medtronic; Raynham, Mass.-based Depuy Synthes; Audubon, Pa.-based Globus Medical; and San Diego-based NuVasive are leading players, among others.