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Craniomaxillofacial Devices Market size to surge at 6.8% CAGR and cross $1.9 bn by 2024

Author : Rahul Sankrityayan | Published Date : 2019-05-28 

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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Lack of awareness regarding the craniomaxillofacial surgeries and treatments among the people living in the developing nations will be a market impeding factor. People with congenital facial anomalies in developing nations are unaware about the recent technological advancements regarding craniomaxillofacial surgeries and treatments, thus hindering the market growth. CMF distraction system market was valued around USD 92.9 million in the year 2017. CMF distraction system are lengthening device used for bone stabilizing and correction of post-traumatic defects or congenital deficiencies of the mandibular body and ramus, that requires gradual bone distraction. The CMF distraction system is used single time only, resulting in repetitive use, thereby boosting the business growth in the forthcoming years.
 
Internal craniomaxillofacial device fixators market is estimated to grow at a CAGR of 6.7% over the projection period. Several advantages offered by the internal fixators such as accurate, and consistent performance with tightening fasteners will boost the product demand. Increase in number of midfacial and craniofacial skeleton that is affected by trauma, or facial reconstruction will enhance the industry growth in the forthcoming years.
 
Bioabsorbable craniomaxillofacial devices market was valued around USD 303.7 million in the year 2017. Recent technological advancements and launch of new techniques such as use of bioabsorbable implant for fixing craniomaxillofacial injuries are some of the few aspects that will be responsible for the growth of bioabsorbable craniomaxillofacial devices market in the future.
 
The application of craniomaxillofacial devices in trauma reconstructive surgeries is projected to grow at a considerable CAGR of 6.6% over the forecast timeframe. Growing treatment of orbital and mid-facial fractures, and peri-orbital soft tissue injuries will result in boosting demand and adoption rate of craniomaxillofacial devices thereby, fueling the market growth in the forthcoming years.
 
U.S. craniomaxillofacial devices market is estimated to grow at robust CAGR of 5.8% during the projection period. Increase in number of traffic accidents, traumatic and sport injuries along with recent technological advancements in the country and high healthcare expenditure will result in promoting the growth of craniomaxillofacial devices growth in the U.S.

Germany dominated the Europe craniomaxillofacial devices market and was valued around USD 57.0 million in the year 2017. Growing number of facial injuries due to traumatic injuries, traffic accidents and sport injuries leading to broken facial bones has resulted in increase in demand and adoption rate of craniomaxillofacial devices in Germany, fueling the market growth in coming years. The governmental organizations of various countries are investing heavily to develop global healthcare infrastructure. A recent news report speaks about HLL Infra Tech Services Ltd. making strategic alliances with an India-based project management and consultancy company KITCO to develop healthcare infrastructure projects, which is likely to spur the regional craniomaxillofacial devices industry. 

The Make in India initiative by the Indian government has also generated lucrative opportunities for the industry giants in the healthcare sector. As per reliable sources, many of the developed countries have been giving preferences to the India belt as far as cosmetic surgeries are concerned, subject to the availability of cost-effective therapies.  On that note, Asia Pacific craniomaxillofacial devices market will exhibit a growth rate of 8.8% over the coming six years. The escalating requirement of minimally invasive medical treatments along with the growing prevalence of orthopedic disorders will fuel the product demand over the years ahead across the APAC region. India, Japan, and China will be the prominent revenue contributors.

The cases of facial deformities and facial fractures are increasing exponentially across the U.S., owing to the lack of precautions at worksites. North America has been witnessing tremendous development in the residential and industrial sectors, which has led to the availability of advanced healthcare facilities, thereby fueling craniomaxillofacial devices market size. As per estimates, U.S. craniomaxillofacial devices industry is slated to surpass  a revenue of more than USD 1 billion by the end of 2023.
 
Medtronic, Stryker Corporation, Zimmer-Biomet, Inc., and KLS Martin LP are the prominent players in craniomaxillofacial devices market. Industry giants are heavily involved in technological developments along with clinical process enhancements to sustain their business position. Craniomaxillofacial devices industry giants have also been engaged in strategic alliances with their competitors and as well as with research institutes to bring about a massive change in their product portfolios.

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Craniomaxillofacial devices market by Product

1 MF Plate and Screw Fixation System
2 Cranial Flap Fixation System
3 CMF Distraction System
4 Temporomandibular Joint Replacement System
5 Thoracic Fixation System
6 Bone Graft Substitute System

Craniomaxillofacial devices market by Location

1 Internal Fixators
2 External Fixators

Chapter 1.     Methodology

1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1.   Paid sources
1.4.1.2.   Unpaid sources
1.4.2. Primary

Chapter 2.     Executive Summary

2.1. Craniomaxillofacial devices industry 3600 synopsis, 2013 - 2024
2.1.1.  Business trends
2.1.2.  Product trends
2.1.3.  Location trends
2.1.4.  Material trends
2.1.5.  Application trends
2.1.6.  Regional trends

Chapter 3.     Craniomaxillofacial Devices Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces

3.3.1.  Growth drivers
3.3.1.1.  Increasing incidence of facial injuries and fractures
3.3.1.2.  Growing demand for minimally invasive reconstruction surgeries
3.3.1.3.  Rise in the prevalence of congenital facial deformities
3.3.1.4.  Recent technological advancements in CMF implants

3.3.2.  Industry pitfalls & challenges
3.3.2.1.  High cost of craniomaxillofacial surgery
3.3.2.2.  Lack of awareness in developing countries

Data Tables

TABLE 1.    Craniomaxillofacial devices industry 3600 synopsis, 2013 – 2024
TABLE 2.    Global craniomaxillofacial devices market, 2013 – 201 (USD Million)
TABLE 3.    Global craniomaxillofacial devices market, 2018 – 2024 (USD Million)
TABLE 4.    Global craniomaxillofacial devices market, by product, 2013 - 2017 (USD Million)
TABLE 5.    Global craniomaxillofacial devices market, by product, 2017 - 2024 (USD Million)
TABLE 6.    Global craniomaxillofacial devices market, by location, 2013 - 2017 (USD Million)
TABLE 7.    Global craniomaxillofacial devices market, by location, 2017 - 2024 (USD Million)
TABLE 8.    Global craniomaxillofacial devices market, by material, 2013 - 2017 (USD Million)
TABLE 9.    Global craniomaxillofacial devices market, by material, 2017 - 2024 (USD Million)
TABLE 10.   Global craniomaxillofacial devices market, by application, 2013 - 2017 (USD Million)

Related Report- Medical Bed Market By Product, By Application, By End-use, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share

Know more @ https://www.marketwatch.com/press-release/medical-bed-market-is-determined-to-touch-us-4-bn-by-2025-2019-05-28

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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