Craniomaxillofacial Implants Market to gain rapid traction, with increasing demand for reconstruction surgeries
The Global Craniomaxillofacial Implants Market was valued at US$ 1,907.9 million in 2016 and is projected to exhibit a CAGR of 6.2% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increase in demand for reconstruction surgeries and technological advancement, in turn is projected to support growth of the craniomaxillofacial implants market over the forecast period.
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Manufacturers are focusing on innovation to tap into emerging markets. For instance, Depuy Synthes launched TRUMATCH Titanium 3D-printed implants in September 2017. OssDsign AB, a Swedish designer, manufacturer, and distributor of next generation craniomaxillofacial implants received FDA clearance for marketing and sales of OSSDSIGN Cranial PSI in the U.S. in January 2017. Efforts are in line to make the craniomaxillofacial implants more biocompatible and resistant to corrosion.
Furthermore, increasing adoption of the concept laser 3D printing technology is also improving the position of manufacturers in the craniomaxillofacial surgery field. The Karl Leibinger Medizitechnik, of the KLS Martin Group is manufacturing craniomaxillofacial implants using Concept Laser M2 cusing machine since 2013.
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Market players are adopting inorganic growth strategies such as collaboration to strengthen product portfolio in craniomaxillofacial implants. For instance, Materialize NV, headquartered in Belgium, announced a collaboration with DePuy Synthes, a subsidiary of Johnson & Johnson in July 2016. As a part of collaboration, Materialise NV will manufacture patient specific craniomaxillofacial implants utilizing its 3D planning and printing expertise, which would be offered through DePuy Synthes TRUMATCH CMF Solutions in Australia and Europe, excluding France.
Furthermore, increasing demand for customized craniomaxillofacial implants (for effective results of the treatment), increase in number of road accident cases, and growing geriatric populace are fueling growth of the craniomaxillofacial implants market. Usage of bone graft substitutes is increasing in surgeries related to spinal injuries. A number of bone graft substitutes from Stryker Corporation, Synthes, Zimmer Biotech, and Regeneration Technologies are being marketed. Furthermore, reduced hospitalization time and non-disruptive procedures to fix these craniomaxillofacial implants, which are convenient for both, surgeons and patients are expected to boost growth of the craniomaxillofacial implant market.
However, high costs associated with craniomaxillofacial surgeries, lack of skilled surgeons to carry out the surgery, and inadequate reimbursement is expected to restrain growth of the craniomaxillofacial implants market.
Key takeaways of the market:
- The global craniomaxillofacial implants market is expected to exhibit a CAGR of 2% over the forecast period (2017–2025), owing to the rise in the aging population. The Asia Pacific region in the global craniomaxillofacial implants market is expected to exhibit a high growth rate, in terms of value, over the forecast period.
- Among Material type, Metal segment is expected to exhibit a significant CAGR of 0%.
- The global craniomaxillofacial implants market is characterized by market expansion in Asia Pacific, North America, and Europe, which is expected to generate higher market revenue due to increase in prevalence of disabilities.
Some of the major companies offering craniomaxillofacial implants are Stryker Corporation, Johnson & Johnson, Zimmer Biomet Holdings, Inc., Medtronic plc, Integra LifeSciences Holdings Corporation, OsteoMed L.P., Medartis AG, KLS Martin, Calavera Surgical Design, and Matrix Surgicssal USA.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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