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Craniomaxillofacial Devices Market to Exhibit A Lucrative Growth Of 6.8%

Author : Rahul Sankrityayan | Published Date : 2019-04-12 

Global Craniomaxillofacial Devices Market is set to exceed USD 1.9 billion by 2024; according to a new research study published by Global Market Insights, Inc. Recent technological advancements pertaining to the design of craniomaxillofacial devices that make it risk-free, less invasive and more efficient causing minimal damage to the bones will lead to growing demand and adoption rate of the device. Enhancement in the devices and implantation procedures has resulted in reduced health risk and increased the survival rate in patients. Hence, the rapid technological advancements will be one of the major factors responsible for boosting the craniomaxillofacial devices market growth in the near future.

Rise in the prevalence of congenital facial deformities in newborn children will be one of the major factors responsible for the growth of craniomaxillofacial devices market in the near future. Congenital anomalies are one of the major causes of infant mortality and childhood morbidity that affects around 2-3% of all the babies and 1% of all the babies have syndromes or multiple anomalies, craniofacial anomalies being the common ones. Hence, increasing number of cases with congenital facial anomalies will drive the demand and market growth of craniomaxillofacial devices in the near future.

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Consisting of the most advanced healthcare services and related technologies, the Europe and North America regions have experienced remarkable consumption of CMF devices in recent times. Eventually, the rising geriatric population in Asia-Pacific will contribute increasingly towards the propagation of the craniomaxillofacial devices industry, as older people are more vulnerable to serious injuries. Presently, the U.S. represents a prominent target market for CMF devices, with easy access to modern health facilities and equipment, as well as occurrence of large number of accidents or sports injuries every year. Reportedly, it is estimated that the U.S. craniomaxillofacial devices market will register a steady 5.8% CAGR from 2018 to 2024.

Regional overview of the North America craniomaxillofacial devices market with regards to growth prospects in U.S. 

Generally, sports injuries in the U.S. are quite a common occurrence owing to the vast number of sporting events taking place in the country on a regular basis, ranging from football, baseball and hockey to gymnastics. Statistics show that over 5 million teeth every year are avulsed in U.S., with a considerable amount of them attributed to sports activities. The Journal of the American Dental Association had reported that of all the sports-associated dental injuries, 2% to 18% are related to the maxillofacial, which could lead to major expenditures to repair the damage. Since diverse age groups are involved in physical sports activities all over the country, the craniomaxillofacial devices industry is expected to garner increasing revenues from sports-related injuries.

Enumerating advancements in healthcare technology that will drive the craniomaxillofacial devices industry expansion

Bioabsorbable materials have been used in medical procedures for some time now, as they lower the risk of infection, eliminate the need for removal procedures and gradually transfer load to healing parts of the body. The craniomaxillofacial devices market has become a promising application area for innovative bioabsorbable materials for countering problems associated with complications of permanent metal and polymer implants. Companies are designing alloys for CMF devices using elements found naturally in the body, for instance nanoMAG’s BioMg® which uses magnesium alloy consisting of zinc and calcium to ensure the implant dissolves through natural degradation.

Increasing demand for CMF devices made from bioabsorbable materials will notably bolster the global craniomaxillofacial devices market, as consumers begin to realize their benefits while continuous development in technology will make them affordable. To elaborate further, 3D-prinitng, or additive manufacturing, is an innovation gaining momentum within the healthcare segment, being extensively used for producing medical devices. 3D-printing can be utilized to print bioabsorbable implants designed to assist in healing bones, giving way to a faster method of production and at lower costs, facilitating access to a wider consumer base.

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Some of the leading players in the craniomaxillofacial devices market include Stryker Corporation, KLS Martin LP, Zimmer-Biomet, Inc. and Medtronic. These companies mainly focus on strategic decisions to increase the research and development investment in order to manufacture more advanced and innovative products. Merger and acquisitions, partnerships and collaborations have increased the capabilities of the companies and increase their efficiency to sustain in the market by providing better product portfolio.

Craniomaxillofacial devices market by Location

Internal Fixators
External Fixators

Market by Material

Metal
Bioabsorbable material
Ceramic

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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