The global Craniomaxillofacial Devices Market size is
expected to reach USD 3.88 billion by 2026, according to a new report by Grand
View Research, Inc. It is projected to register a CAGR of 6.0% during the
forecast period. Increasing incidence of facial fractures and demand for
minimally invasive surgery for facial reconstruction are expected to drive the
demand for Craniomaxillofacial (CMF) devices. Faster recovery, minimal incision
to the body, and reduced complications associated with minimally invasive
reconstructive surgeries are anticipated to contribute to the growth.
The introduction of technologically advanced procedures,
such as robotic arm assisted CMF surgery and bioabsorbable implants for cranial
fixation are expected to drive the demand for CMF devices. The advancement such
as amplified use of virtual plating technology and development of cost
effective thoracic fixation devices are attributed to the rising demand.
The market is competitive in nature as the manufacturers
are involved in new product developments to increase their market penetration.
Also, the companies are entering into collaborations and research alliance with
other market players to increase their product portfolio. Various software and
virtual three-dimensional (3D) technologies are adopted by companies to gain
competitive edge. For instance, the introduction of technologically advanced 3D
printing allows manufacturers to integrate materials from both facial and
cranial reconstruction is expected to gain popularity in the forthcoming years.
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Further key findings from the study suggest:
- CMF plate
and screw fixation led the product segment in 2018, owing to increasing
number of CMF trauma and reconstruction procedures which are non-elective
- Temporomandibular
Joint (TMJ) replacement product segment expected to show lucrative growth
over the forecast period
- Metallic
implants held the largest revenue share owing to the advantage associated
with the device such as less corrosive nature and ability to provide rigid
support to the fixators
- CMF
devices find the largest application in neurosurgery owing to, increasing
CMF procedures in oncology and neurovascular surgeries
- Asia
Pacific is anticipated to register rapid growth in the forthcoming years
owing to, the presence of high unmet needs coupled with increasing patient
awareness and improving healthcare infrastructure
- Three-dimensional
printing allow integration of new material for reconstruction and cranial
surgery, this attracts more manufacturers to make R&D investments for
the development of advanced products
- Key
players operating in the craniomaxillofacial devices market include
Johnson & Johnson (DePuy Synthes); Medtronic Inc.; and Zimmer-Biomet
Inc. which make the entry for small organizations difficult
- Moreover,
stringent norms for product approval and post-approval performance
monitoring regulated by authorities such as the U.S. Food and Drug
Administration (FDA) and the American Academy of implant may act as a
threat for new participants
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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