Cranial and facial bones. Installing cranio maxillofacial implants continues to gain prominence as a successful and widely-preferred surgical tool.
New York, NY -- (SBWIRE) -- 01/12/2018 -- According to a new market report published by Persistence Market Research "Global Market Study on Cranio Maxillofacial Implants: Asia to Witness Highest Growth by 2020" the global cranio maxillofacial implants market was valued at USD 1,044.7 million in 2014 and is expected to grow at a CAGR of 6.2% from 2014 to 2020, to reach an estimated value of USD 1,498.6 million in 2020.
Cranio maxillofacial surgery refers to a procedure for treatment of a severe injury to the cranial and facial bones. Treatment of injured cranial and facial bones usually requires internal fixators such as plate and screw fixation systems, flap fixation devices, bone graft substitutes or others to fix the facial fracture. Globally, the cranio maxillofacial implants market is witnessing significant growth due to increasing incidence of facial fractures and emergence of new procedural techniques and positive clinical outcome. In addition, increased healthcare expenditure and lack of substitutes are driving the cranio maxillofacial implants market.
However, various factors such as high cost of surgery and lack of awareness are restraining the growth of cranio maxillofacial implants market. In addition, double surgery and absence of health insurance in the developing countries are restraining the cranio maxillofacial implants market. The global cranio maxillofacial implants market is estimated at USD 1,044.7 million in 2014. It is likely to grow at a CAGR of 6.2% from 2014 to 2020 to reach USD 1,498.6 million in 2020.
North America, including the U.S. has the largest cranio maxillofacial implants market. Asia is the fastest growing cranio maxillofacial implants market. Some of the fastest growing markets for cranio maxillofacial implants devices are China, Japan and other countries in South East Asia and the Eastern Mediterranean.
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North American market for cranio maxillofacial implants is estimated at USD 586.1 million in 2014 and is expected to reach USD 839.6 million in 2020, growing at a CAGR of 6.2% from 2014 to 2020. On the basis of the type of fixator, internal fixators have the largest market share in the cranio maxillofacial implants market and it is expected to grow at a CAGR of about 6.0% during 2014 – 2020. Various cranio maxillofacial implants companies are increasing their focus on manufacturing of internal fixators with bioabsorbable material. Market for bioabsorbable fixators is expected to grow at a CAGR of about 8.4% during 2014 – 2020.
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DePuy Synthes, a Johnson & Johnson company, is a leading player in the global market for cranio maxillofacial implants, with a share of about 47.5% in 2013. Other major players of cranio maxillofacial implants market include Stryker Corporation, Zimmer Holdings, Inc. and others.