Craniomaxillofacial devices: Key market research findings
- The Americas dominate the market geographically
- Innovation of 3D techniques and cost reduction drives market growth
- Key vendors – DePuy Synthes, Stryker, and Zimmer-Biomet
Technavio’s market research analysts predict the global market for craniomaxillofacial devices to grow at a CAGR of almost 7% between 2016 and 2020. Research collaboration between manufacturers and medical professionals for customized products is spurring an increase in the demand for these devices in the market. Vendors are collaborating with healthcare practitioners to increase the efficiency of cranial reconstruction surgeries and improve customer satisfaction. Vendors are making huge investments in research funding and facilities while the specialists offer their experience and knowledge. During 2015, the global market was dominated by the Americas by accounting for around 52% of the overall market share. The increasing adoption of CMF devices and the high number of CMF surgical procedures in this region will propel growth of the craniomaxillofacial devices market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the craniomaxillofacial device segments based on the product type.
“The innovation of effective 3D implants and cost reduction plays a vital role in the growth of the market. The conventional open techniques are relatively affordable compared to the advanced 3D techniques. Once the surgeons get familiarized with advanced techniques, the alteration or modification of surgeries is possible based on patient’s condition. This is a slowly growing trend as a lot of expertise is required to alter or modify these new techniques,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The cranial flap fixation segment accounted for around 30% of the overall market revenue to become the key revenue-generating vertical in the global market in 2015. These devices are used for flap replacement after a craniotomy procedure. Bioresorbable devices are proving to be a better treatment option that help overcome the drawbacks related to the metallic flap fixation. For instance, INVISx cranial fixation system by Medtronic assures the structural stability of skull cap that is replaced after craniotomy. It is a screwless system and reduces the length of the procedure.
The key vendors in the market include DePuy Synthes, Stryker, and Zimmer-Biomet. The global CMF devices market is occupied by multinational, regional, and local vendors. The increasing product approvals will likely increase the market competition in the forecast period. . Other vendors face a tough challenge in innovating the strategies for developing a wide range of product portfolio to establish in the market. Companies like Kelyniam Global and Oxford Performance Materials provide customized implants made of biomaterials and thus sustain to compete in the market.
A more detailed analysis is available in the Technavio report, Global Craniomaxillofacial Devices Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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