Craniomaxillofacial Devices Market Analysis, Growth, Industry Trends and Forecast to 2024by Susan Hill Business Consultant
The Global Craniomaxillofacial Devices Market value is expected to exceed USD 1.71 billion by 2024 growing at an estimated CAGR of over 6.7% from 2016 to 2024. Demand for minimal invasive procedures which can heal rapidly is the primary driving factor of the market. Awareness of these surgeries by ASCFS and ISCFS will facilitate in market growth. Bigger healthcare budget, use of 3D implants in reconstructive surgery, and growing geriatric populace are other aspects favoring the market.
The global market is segmented according to products, materials, applications, and regions. Products include cranial flap fixation, MF (maxillofacial) plate and screw fixation, bone graft substitutes, and CMF distraction. Plate and screw fixation earned over 70% market revenue shares in 2014 due to their varied use in surgeries.
Materials used are metal, bioabsorable, and alloys. Titanium alloys are used to produce cranial plates due to their low weight & non-corrosive property. Polymers such as PMMA (poly methyl methacrylate) and Medpor are used due to their biocompatible nature. Biomaterials such as PDLLA and PPEK are used in bioabsorbable devices.
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Neurosurgery & ENT, orthognathic & dental, plastic surgery, and others constitute as market applications. Increasing cases of spinal disorders will bring in revenues from the neurosurgery & ENT segment. Plastic surgery will see growth in the years ahead from developed countries of Canada and U.S.
Regions covered under the market are Latin America, North America, Europe, Asia Pacific, and Middle East & Africa. North America accounted for over 58% market revenue in 2014. Other factors supporting market growth in the region are technological developments, healthcare infrastructure, and high patient awareness.
Europe is in need of technology which can cater to plate and screw fixation, thoracic fixation, CMF bone graft substitutes, and temperomandibular joint (TMJ) replacement. This is expected to net revenues over USD 227 million in 2013. Asia Pacific will exhibit growth due to economic development and improving healthcare infrastructure.
Well-known players of the craniomaxillofacial devices market are Aesculap; Johnson & Johnson (DePuy Synthes); Boston Medical Products Inc.; and Medartis AG. Research and development of products are one of the strategies followed by players. For instance, Aesculap introduced Pro space, a osteoconductive interbody fusion method in 2015.
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Created on Oct 30th 2017 02:12. Viewed 266 times.