Cervical Disc Replacement Market Size Forecast to Reach $3.82 Billion by 2025

Cervical Disc Replacement Marketsize is forecast to reach $3.82 billion by 2025, growing at a CAGR of 13.8% during the forecast period 2020-2025. Rise in aging population and increase in demand for advanced cervical disc replacement devices are the major factors driving the growth of the market. Rise in suppliers investing in improved next generation cervical disc replacement devices and low surgery rate of cervical disc replacement surgery is set to further enhance the overall market demand of cervical disc replacement during the forecast period 2020-2025.

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Design- Segment Analysis

The unconstrained segment held the largest share in the Cervical Disc Replacement Market in 2019 and is estimated to grow at a CAGR of 10.51% during the forecast period 2020-2025. The growth in this segment can be attributed to the benefits offered by these devices. Unconstrained multi-piece l cervical discs replacement products are prone to anterior migration and extrusion out of the disc space. This outcome deserves attention in individuals with a hypermobile neck or an occupation involving the use of a head-supported mass, such as helmets. Unconstrained design is set to be the fastest growing segment and is estimated to register a highest CAGR during the forecast period 2020-2025.

End User – Segment Analysis

Hospitals held major share in the Cervical Disc Replacement Market in 2019 owing to the increase number of spinal surgery. Spinal surgery is an effective treatment for patients suffering from spinal cord disorders and modifications in reimbursement policies are encouraging a larger number of patients in developed countries to opt for these treatments. Increasing number of outpatient procedures is among the economic variables affecting the cervical disc replacement market. A rapid shift from inpatient to outpatient surgeries for spine-related diseases is estimated to create potential for the rapid growth of the cervical disc replacement market in the near future.

Geography – Segment Analysis

North America dominates the cervical disc replacement market with a share of more than 42.7%, followed by Asia Pacific. North America dominates the cervical disc replacement market owing to surging geriatric population, rising healthcare expenditure, improving economy, expanding private healthcare sector and growing awareness among the patients about the availability of various treatment option. Increase in demand for advanced cervical disc replacement devices, surge in prevalence of degenerative disc diseases and rise in number of suppliers investing in improved next-generation cervical disc replacement devices has boosted the growth of the cervical disc replacement market in North America.

However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to rising healthcare expenditure, increasing per capita income, coupled with surge in geriatric population. Moreover, Japan is projected to account for the largest market share in the APAC region. Growing aging population, low revision surgery rate of cervical disc replacement surgery and increasing demand for advanced innovative cervical disc replacement device for treatment of degenerative disc disease, ongoing clinical traits of innovative products are major factors leading to increased demand for cervical disc replacement devices, thereby fueling growth of the cervical disc replacement device market in Asia Pacific region.

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Drivers – Cervical Disc Replacement Market

• Rise in aging population and increase in demand for advanced cervical disc replacement devices

Rise in aging population and increase in demand for advanced cervical displacement devices are boosting the growth of the cervical disc replacement market. Nowadays there is a growth in the cervical disc replacement surgery owing to the rising prevalence of pseudo-arthrosis.Changing lifestyles, growth in aging population and improved government funding is some of the other factor responsible for the growth of the cervical disc replacement market. Moreover, rising healthcare awareness is also estimated to further contribute to the global market.

• Increasing prevalence of degenerative disc disorders

Cervical disc replacement device is used to treat patients suffering from degenerative disc disorders .Neck pain is the major cause for development of degenerative disc disorders in cervical region of the spine. Cervical disc replacement procedure is performed for treatment of degenerative disc disorders, where the degenerated disc is removed surgically and an artificial disc is implanted in the vertebra. This is a minimal incision surgery, which results in quick recovery post-surgery, short hospital stay and low revision surgery rate. Various benefits of this procedure is increasing adoption rate of this surgery over conventional spinal fusion surgery. Degenerative disc disorders is treated through spinal fusion surgery, but owing to high rate of revision surgery and increasing prevalence of adjacent segment disc degeneration post fusion surgery, doctors are considering cervical disc replacement over spinal fusion and hence boosting the cervical disc replacement market.

Challenges – Cervical Disc Replacement Market

• High cost associated with cervical total disc replacement

Some of the factors that can impede the growth of cervical disc replacement market are high cost associated with cervical disc replacement which includes artificial disc replacement surgeries and spinal fusion surgeries along with the spine degeneration disorders in the aging population and nucleus replacement devices.

Acquisitions/Product Launches

• In June 2016, Zimmer Biomet acquired LDR to enhance innovations as well as grow its spine business.
• In March 2018, Orthofix International N.V. entered into a definitive agreement to acquire Spinal Kinetics Inc., a manufacturer of cervical and lumbar discs.
• In January 2019, Globus Medical, Inc. announced that its SECURE-C Cervical Artificial Disc is covered by Anthem.

Key Takeaways

• North America dominated the Cervical Disc Replacement Market in 2019 owing to the increasing number of product launches by key players and the increasing healthcare expenditures. The Cervical Disc Replacement Market scope for different regions will be provided in the final report.
• The increasing prevalence of degenerative disc disorders and the growing geriatric population across the globe is likely to aid in the market growth of cervical disc replacement market.
• Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Cervical Disc Replacement Market report.
• High cost associated with cervical disc replacement which includes artificial disc replacement surgeries and spinal fusion surgeries is poised to create hurdles for the Cervical Disc Replacement Market.

Cervical Disc Replacement Industry Outlook

Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the cervical disc replacement market. In 2019, Cervical Disc Replacement Market share is consolidated by the top ten players present in the market. Cervical Disc Replacement top 10 companies are Medtronic plc, Depuy Synthes,Globus Medical Inc., NuVasive, Inc., LDR Holding Corporation,Orthofix International N.V.,Simplant LTD, Ranier Technology Limited, Globus Medical Inc ,Stryker Corporation, AxioMed LLC and Zimmer Biomet Holdings Inc.among others.

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