May 14, 2020
As per the report titled ‘Craniomaxillofacial Devices Market Size By Product, By Implant Type, By Location, By Materials, By Application, By Resorbability, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global craniomaxillofacial device market is anticipated to see considerable gains during 2020-2026.
Craniomaxillofacial refers to the entire area of the mouth, jaws, face, skull, and other associated structures. Craniomaxillofacial devices are designed to aid surgeons in treating cranium, mandibular, and maxillofacial skeleton. Rising cases of facial trauma along with various technological advancements are driving the growth of global craniomaxillofacial devices market.
Based on the product type, CMF distraction system segment is projected to grow with CAGR of 8.2% during the forecast period, on account of increasing number of cranial surgeries across the globe.
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Elaborating on the implant type, the industry is bifurcated into standard implants and customized/patient-specific implants. Standard implants segment accounted for USD 900 million in 2019 and is anticipated to register robust growth over the forecast timeline.
With respect to the location, craniomaxillofacial devices industry is split into internal fixators and external fixators, wherein the latter segment is anticipated to expand at 7.3% CAGR during the projected timeframe.
Considering the material spectrum, the market is classified into polymers, metals, ceramics, and bioabsorbable materials. Polymers segment is predicted to grow with 7.2% CAGR through 2026, due to recent technological advancements in manufacturing of new products.
Speaking of the application spectrum, craniomaxillofacial devices market from plastic surgery segment amassed a valuation of USD 300 million in 2019 and is anticipated to show a sizeable growth in the coming years. The growth can be affixed to upsurge in demand for plastic surgeries owing to growing inclination towards restoration and improvement of facial aesthetics along with the emergence of minimally invasive procedures.
In terms of resorbability, the market is divided into resorbable fixators and non-resorbable fixators, among which the latter segment was worth USD 1 billion in 2019 and is likely to show decent growth in the ensuing years.
Upon analyzing the end-use spectrum, ambulatory surgery centers segment is estimated to expand at 8.6% CAGR over 2020-2026. Surging demand for minimally invasive surgery, shorter hospital stay and minimal healthcare costs are favoring the growth of ambulatory surgery centers.
From a regional perspective, Latin America craniomaxillofacial devices market accumulated USD 89.8 million in 2019 and is expected to register a 8% CAGR during 2020-2026. Whereas, Middle East & Africa market share accounted for USD 44 million 2019 and is estimated to grow with a CAGR of 8.5% throughout the forecast years.
Prominent industry players include Integra Life Sciences, CONMED Corporation, B. Braun Melsungen AG (Aesculap Implant Systems, Inc.), Cavendish Implants Ltd., Johnson and Johnson, Medartis AG, KLS Martin L.P., Medtronic, Stryker Corporation, OsteoMed, Zimmer Biomet Holdings, Inc., and TMJ Concepts.