The global Cranial Fixation & Stabilization Devices Market size is expected to reach USD 2.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% during the forecast period. Increasing prevalence of neurological disorders and road accidents is expected to drive the demand for cranial surgeries and thereby, fixation & stabilization devices over the forecast period.
Growing
demand for minimally invasive surgery due to their associated advantages is
another factor propelling the industry. For instance, cranial fixation
performed by using mini titanium plates & screws is simple, safe, and cost
effective solution for immediate stability and repositioning than traditional
sutures. In addition, increasing awareness among neurosurgeons is expected to
fuel the adoption. There is a significant increase in the adoption of cranial
fixation pins by neurosurgeons in patients with age below 5 years over the past
few years.
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Further key findings from the report suggest:
- Cranial
fixation is the procedure in which bone fragments or grafts and bone flaps
are fixed to cranium to offer stable closure in surgery.
- Increase in
demand for cranial fixation plates & screws due to rise in surgical
procedures such as craniotomies, cranial trauma & fixation is
anticipated to boost the demand for cranial fixation devices over the
forecast period
- Stabilization
product segment is expected to witness significant growth in the
coming years due to technological advancements in the field of
neuroscience
- The hospital
segment accounted for the largest revenue share as the number of neurosurgical
procedures performed in the hospitals are more
- The adoption
of cranial stabilization devices is expected to increase in ambulatory
surgical centers as the demand for outpatient craniotomies is increasing
rapidly
- North
America held the dominant market share in 2017, due to presence of well
established healthcare industry, high awareness among end users, and
demand for technologically advanced healthcare products
- The Asia
pacific regional market, especially China and India, are anticipated to witness
remarkable growth over the forecast period as incidence of neurological
conditions due to road accidents is high in these regions
- The market
is competitive in nature as companies are involved in building up
strategies such as merger & acquisitions, geographic expansions, and
new product developments to gain market
share
- Some of the
key companies present in the market are Stryker, Medtronic, Ostomed,
Johnson & Johnson, Integra LifeSciences Corporation, KLS Martin Group,
and B. Braun Melsungen AG.
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.
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