LOS ANGELES, May 20, 2019 (GLOBE NEWSWIRE) -- The Global Craniomaxillofacial Devices Market is estimated to grow at CAGR above 5.7 % over the forecast time frame 2019-2026 and reach the market value around USD 3.5 billion by 2026.
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An increased incidence of facial fractures and the demand for minimally invasive facial reconstruction surgery are expected to drive demand on CMF devices. The growth is expected to contribute to faster recovery, minimized incisions into the body and reduced complications related to minimally invasive reconstructive surgery.
The application of advanced technology, such as CMF-assisted robotic arm surgery and bioabsorbable cranial fastening implants, are expected to boost CMF requirements. The increasing demand has been attributed to progress such as the enhanced use of VP technology and the development of cost-effective thoracic fixing devices.
The market is competitive because the manufacturers participate in new products to increase the penetration of their markets. In addition, companies enter into partnerships and research alliances with other players to expand their portfolio of products. Companies are using various software and 3D virtual technologies to gain a competitive edge. The establishment of advanced 3D printing, for example, is expected to gain in popularity in the coming years, allowing manufacturers to integrate materials from face and cranial reconstruction.
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Regional Stance
In 2018, America led by the increased incidence of facial defects and facial fracture as a result of the increasing industrialisation, with a market share of over 58 percent in revenues. The impressive growth is due to the introduction of advanced technological cranial implants, increased demand for less-invasive surgery, the availability of sophisticated healthcare facilities and a high level of patient awareness.
Key Findings
Due to an increasing number of CMF traumas and non-selective reconstruction procedures, the plate and screw fixation govern the product sector in 2018.
The TMJ segment is expected to demonstrate lucrative growth during the predicted period.
The largest share of income in metallic implants was due to the advantages of the device, like its less corrosive nature and its ability to rigidly supply fixators.
Increasing CMF procedures in oncology and neurovascular surgery make CMF devices the most common application in neurochirurgy.
The presence of high unmet needs and the increasing awareness of patients, as well as the improvement of healthcare infrastructure, are projected to be rapid in the coming years.
Three dimension printing enables new reconstruction material and cranial operations to be integrated, which attracts more producers to invest in R&D for the development of advanced products.
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Key Players & Strategies
The industry is extremely competitive, with a restricted amount of competitors dominating. DePuy Synthes (J&J), Medtronic, Stryker and Zimmer-Biomet are among the most remarkable respondents. Because of their comprehensive consumer offers, these businesses represent an important income share in the USA. DePuy Synthes continued to introduce innovative fresh goods with a lower profile and excellent results for nurses that lead to higher income.
Manufacturers are involved in the establishment, geographical scale, collaborative strategies and product portfolio expansion of comprehensive distribution systems. In March 2015, for example, at the American Academy of Orthopedic Surgeons, Stryker launched a next-generation viable bone matrix, which is used for bone regeneration procedures. In order to capture the new craniomaxillofacial market, this new product launch is being carried forward.
The demand for low-cost and efficient products should also remain highly competitive. Many small manufacturers of medical devices are engaged in the development of more efficient technology. For example, OSSDSIGN received the United States in January 2017. Approval of OSSDSIGN Cranial Implants by the Food and Drug Administration (FDA). This completely personalized implant can help prevent infection. These advantages are expected to expand over the predicted period.
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