New York, NY -- (SBWIRE) -- 07/30/2015 -- According to a recent market study published by Persistence Market Research, the global cranio maxillofacial implant market is expected to grow positively at a 6.4% CAGR between 2014 and 2020. The global cranio maxillofacial implants market was worth US$1,044.7 million in 2014 and is expected to be valued at US$1,498.6 million by 2020. The report is titled "Global Market Study on Cranio Maxillofacial Implants: Asia to Witness Highest Growth by 2020".

The report states that the global market for cranio maxillofacial implants is witnessing positive growth owing to factors such as the emergence of new procedural techniques, increased healthcare expenditure across the globe, rising incidence of facial fractures, and positive clinical outcomes of reformative surgeries. Factors such as high costs of these surgeries, lack of awareness, and the high level of risk associated with the surgeries are limiting the development of the global cranio maxillofacial implant market to a certain extent.

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The market for cranio maxillofacial implants covers procedures for the treatment of injuries to facial and cranial bones. For treating such injuries, fixators such as screw fixation systems, bone graft substitutes, and flap fixation devices are commonly used.

Traditionally, manufacturers have used metals and their various alloys for creating cranio maxillofacial implants. Currently, alloys of titanium and stainless steel are amongst the most consumed in the market. However, it is the use of bioabsorbable materials that has helped in drawing attention to the global cranio maxillofacial implant market. Materials such as polylactides and polyglycolides are amongst the most popular bioabsorbable materials currently used for manufacturing cranio maxillofacial implants.

Use of bioabsorbable implants eliminates the need for a re-surgery, usually required to remove implants after successful recovery from facial and cranial injuries, leading to less post-surgery complications and reduction in overall expenses.

The report states that the regional market for cranio maxillofacial implants in Asia is set to exhibit the fastest growth among all regional segments of the global cranio maxillofacial implants market. North America, including the U.S., is currently the largest regional market for cranio maxillofacial implants. However, improving economic dynamics of Asia, increased awareness about the recovery of facial fractures through implant surgeries, and increased healthcare expenditure are some of the factors that will help the market proliferate rapidly in Asia in the coming times.

The North American market for cranio maxillofacial implants had a net worth of US$586.1 million in 2014. Growing at a positive CAGR of 6.2% from 2014 to 2020, this regional market is expected to reach US$839.6 million by 2020. The market for bioabsorbable fixators is expected to grow at an 8.4% CAGR over the report's forecast period.

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The report also presents a detailed competitive analysis of the global cranio maxillofacial implant market. Financial profiles of the key businesses operating in the market, with details about their marketing and business strategies, their product portfolio, market share, etc., are discussed in great detail. DePuy Synthes, a Johnson & Johnson venture, leads the market singlehandedly with a share of over 47% of the global market in 2013. Other major businesses in the global cranio maxillofacial implants include Zimmer Holdings, Inc., CONMED, Medtronic, Inc., B. Braun Melsungen AG, and Stryker Corporation.

About Persistence Market Research
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