Selbyville, Delaware, March 12, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on craniomaxillofacial (CMF) devices market which estimates the global market valuation for craniomaxillofacial devices will cross US$ 2.2 billion by 2026. Increase in prevalence of facial injuries and fractures will be a major factor enhancing the market growth.
According to the recent report by American Society of Plastic Surgeons, in 2018, there were over 2,13,000 nose reshaping surgical procedures and over 2,04,000 maxillofacial surgeries in the U.S. Owing to the factors such as high impact accidents, sports injuries, interpersonal trauma and domestic violence, the adoption of craniomaxillofacial devices will increase in the foreseeable future. Additionally, increase in number of newborns with congenital facial deformities will boost the industry demand.
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The report further explains, the bone graft substitute system segment is predicted to exhibit a 5.6% CAGR across the globe through 2026. The growth can be attributed to the factors including increasing geriatric population and rising demand for bone graft substitutes. Moreover, owing to the advantages such as ability to fill bony defects and to replace crushed bone will contribute to craniomaxillofacial devices market demand during 2020 to 2026.
Customized/patient-specific implants were valued at around USD 480 million in 2019. These implants are used to reconstruct the missing bone to provide best functioning as well as appearance. A strong anatomical support and shorter recovery time will increase the demand for craniomaxillofacial devices in the future.
In 2019, the internal fixators segment held a market share of over 70% and will witness lucrative growth over 2020 to 2026. Advantages of internal fixation such as shorter hospital stays, and minimum recovery period will drive the internal fixators demand. Furthermore, internal fixation assists in reducing the incidence of improper healing as well as healing of broken bones which will enhance the market value.
Browse key industry insights spread across 400 pages with 862 market data tables & 12 figures & charts from the report, “Craniomaxillofacial Devices Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/craniomaxillofacial-devices-market
The report forecasts, bioabsorbable materials segment will grow at 7.6% CAGR over 2020 to 2026 owing to the advantages of these materials such as reduced stress shielding of bone and initial adequate stability for healing. Furthermore, bioabsorbable implants help to facilitate postoperative radiologic imaging.
Plastic surgery was valued at over USD 300 million in 2019, says the GMI report. Increase in number of accidents, technological advancements and growing number of plastic surgeries will enhance the growth of craniomaxillofacial market globally. Development of innovative products to cater the customers needs will boost the craniomaxillofacial devices market demand.
Resorbable fixators demand is projected to expand at 7.3% CAGR over the forecast time period due to the advantages such as absence of stress shielding and no requirement of extra surgery for implant removal. Moreover, it helps in the craniofacial reconstruction as well as fracture stabilization.
The hospitals end use dominated the market with a revenue exceeding USD 800 million in 2019 and will show substantial demand over the forecast years. Rapid increase in the number of healthcare professionals, increase in number of hospitals and growing hospitals admissions for craniomaxillofacial surgeries across the globe have triggered the adoption of craniomaxillofacial devices. Moreover, increasing government spending on hospitals is one of the major growth driving factors.
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Regionally, Japan craniomaxillofacial devices market is predicted to achieve over 4.4% CAGR through 2026 owing to the rapid growth of facial and sports fractures due to accidents along with growing demand for reconstructive surgeries.
A few notable companies operating in craniomaxillofacial devices market share include Stryker, KLS Martin, Medartis, Johnson & Johnson, TMJ Concepts, OsteoMed, Integra LifeSciences, Kanghui Medical Innovation and Aesculap Implant Systems. Industry players are focusing on numerous strategies such as new product launches and partnerships to consolidate their market presence.
Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Craniomaxillofacial devices industry 360⁰ synopsis, 2015 - 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Implant type trends
2.1.4. Location trends
2.1.5. Materials trends
2.1.6. Application trends
2.1.7. Resorbability trends
2.1.8. End-use trends
2.1.9. Regional trends
Chapter 3. Craniomaxillofacial Devices Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Increasing incidence of facial injuries and fractures
3.3.1.2. Growing demand for minimally invasive reconstruction surgeries
3.3.1.3. Rise in the prevalence of congenital facial deformities
3.3.1.4. Recent technological advancements in CMF implants
3.3.2. Industry pitfalls & challenges
3.3.2.1. High cost of craniomaxillofacial surgery
3.3.2.2. Lack of awareness in developing countries
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By implant type
3.4.3. By location
3.4.4. By materials
3.4.5. By application
3.4.6. By resorbability
3.4.7. By end-use
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.6. Patient-specific craniomaxillofacial implants, by competitor
3.7. Porter’s analysis
3.8. Competitive landscape, 2018
3.8.1. Company matrix analysis, 2018
3.9. PESTEL analysis
Read complete table of contents (ToC) @ https://www.gminsights.com/toc/detail/craniomaxillofacial-devices-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.