SEATTLE, April 09, 2020 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the Global Cervical Total Disc Replacement Devices Market was valued at US$ 1,105.1 million in 2019, and is expected to exhibit a CAGR of 21.7% during the forecast period (2019-2027).
Key Trends and Analysis of the Global Cervical Total Disc Replacement Devices Market:
Increasing product approvals and launches are expected to drive the global cervical total disc replacement devices market growth during the forecast period. For instance, in July 2019, Centinel Spine LLC received investigational device approval from the U.S. FDA to begin a two-level clinical trial for its Prodisc C anterior cervical total disc devices: Prodisc C Vivo, and Prodisc C SK. Moreover, in October 2018, Zimmer Biomet Holdings, Inc. launched its novel Mobi-C Cervical Disc for cervical total disc replacement in Japan. The product was approved by the Japan Ministry of Health, Labour and Welfare (MHLW) in May 2018.
Increasing research and development of innovative devices is expected to drive the global cervical total disc replacement devices market growth during the forecast period. For instance, in September 2019, researchers from the Institute for Biomechanics, Switzerland, reported development of a method for controlled epigallocatechin 3-gallate delivery for degenerated intervertebral disc.
Moreover, adoption of inorganic growth strategies by key players is expected to drive the global cervical total disc replacement devices market growth. For instance, In September, Centinel Spine LLC acquired the Prodisc assets from DePuy Synthes, a subsidiary of Johnson & Johnson. Through this acquisition, Centinel Spine added the Prodisc assets including Prodisc-C, Prodisc-L, Prodisc-C Vivo, Prodisc-C Nova, Prodisc-O, and Discover cervical and lumbar artificial disc systems to its portfolio.
Among regions, Asia Pacific is expected to show significant growth owing to launch of implants for treatment of degenerative disc disease in the region. Moreover, ongoing clinical trials of innovative products for treatment of degenerative disc diseases is contributing to the growth of the Asia Pacific cervical total disc replacement device market. For instance, in May 2018, Second Affiliated Hospital of Wenzhou Medical University, Yuying Children’s Hospital of Wenzhou Medical College & Zhejiang Provincial Yuying Hospital, China, initiated a comparative clinical trial to evaluate the safety and efficacy of cortical bone trajectory screws versus traditional pedicle screws fixation for treatment of intervertebral disc degeneration, spinal stenosis lumbar, and lumbar disc herniation. The study is estimated to be completed in December 2021.
Key Market Takeaways:
- The global cervical total disc replacement devices market is expected to exhibit a CAGR of 21.7% during the forecast period (2019-2027 owing to adoption of inorganic growth strategies by key players. For instance, in March 2018, Orthofix International N.V., a global medical device company, announced the acquisition of Spinal Kinetics Inc., a privately held developer and manufacturer of artificial cervical and lumbar discs. Through this acquisition, Orthofix complemented its Spine Fixation product line with the addition of Spinal Kinetics’ M6 artificial discs which also include the M6-C cervical and M6-L lumbar artificial discs.
- Among design, the unconstrained segment is expected to exhibit significant growth in the global cervical total disc replacement devices market owing to benefits offered by these device. For example, unconstrained devices do not possess a physical stop which enhance mobility and decreased stability.
Major players operating in the global cervical total disc replacement devices market include—11 Cervical Artificial Disc to Know..!
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