U.S. Craniomaxillofacial Devices Market share to surpass $1 bn by 2023

North America, driven by U.S. craniomaxillofacial devices market size is forecast to exceed USD 1 billion by 2023, still remaining the largest regional industry. Developed healthcare infrastructure, and rising prevalence of facial fractures and facial deformities due to rapid industrialization and urbanization in the region are the key driving factors over the forecast period. Global Market Insights, Inc. says, Craniomaxillofacial devices market size is likely to hit USD 2 billion by 2023.

The competitive predominance of companies in craniomaxillofacial devices market is quite evident from the numerous developments underlining this business space. A recent instance justifying this proclamation is KLS Martin Group’s declaration of using LaserCUSING for the purpose of 3D printing patient-centric craniomaxillofacial implants. Elaborating further, this Germany-based company has been using the LaserCUSING process patented by Concept Laser, one of its regional peers, for a while now, to manufacture personalized CMF implants.

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The year 2016 even witnessed this craniomaxillofacial devices industry giant partner with 3D Systems with a view to develop an implant via 3D printing for a specific patient. Today, the company has extended its service portfolio to the point where it solely manufactures patient-specific CMF implants, rather than working through a standardized solution. The massive proliferation of 3D printing market has also provided the much-needed impetus for the propagation of this technology.

KLS Martin, last year, had also revealed plans of expanding its footprints in the U.S., which resulted in the conception of its first U.S. manufacturing facility in Florida, near KLS Martin LP, its American subsidiary. KLS Martin’s expansion policies are a classic instance of a company in craniomaxillofacial devices market simultaneously enhancing its service portfolio as well as its geographical landscape. With other companies likely to follow suit in the blink of an eye, craniomaxilofacial devices industry may very well be traversing on a path of anticipated success, having held a valuation of USD 1.14 billion in 2015.

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North America seems to be one of the most lucrative investment grounds for craniomaxillofacial devices market players, given the massive expansion strategies of companies across the region. The continental growth, as analysts affirm, is largely hinged on the U.S., which was dominating country in 2015, having held more than 88% of North America craniomaxillofacial devices industry share. A number of factors, such as the rising prevalence of sport injuries and recurrent facial reconstruction surgeries and a highly sophisticated medical infrastructure, are responsible for the fact that North America may possibly lead the global craniomaxillofacial devices market by 2023, with an estimated revenue of USD 1 billion.

Craniomaxillofacial devices industry is inherently driven by the rapidly growing rate of accidents at a global level, that has subsequently led to an upswing in the number of reconstructive surgical procedures. Of late, the proliferation of technology has been having quite a proportional impact on craniomaxillofacial devices market. For instance, the CMF procedure that involves the deployment of a robotic arm for surgical assistance is one such innovation that has lately been grabbing eyeballs in craniomaxillofacial devices industry.

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It would be prudent to mention that lately, even CMF surgeries seem to be utilizing bioabsorbable polymers, such as biosorb PDX, PLGA, and biosorb FX. The extensive trends transpiring in craniomaxillofacial devices market, over and above the fact that these components are widely used in minimally invasive surgeries such as jaw replacement and facial reconstruction as a result of fractures and sport injuries, are forecast to contribute profusely toward craniomaxillofacial devices industry share.

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https://www.gminsights.com/industry-analysis/cosmetic-implant-market

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Craniomaxillofacial Devices Market Analysis, Share, Applications Share, Trends & Forecast, 2016 – 2023

The industry report “Craniomaxillofacial Devices Market Size By Product [Cranial Flap Fixation, CMF Distraction, Temporomandibular Joint Replacement, Thorasic Fixation, Bone Graft Substitute, MF Plate and Screw Fixation], By Material [Metal, Bioabsorbable Material, Ceramic], By Application [Neurosurgery & ENT, Orthognathic and Dental Surgery, Plastic Surgery], Industry Analysis Report, Regional Outlook (U.S., Canada, Germany UK, China, Japan, India, Mexico, Brazil, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 - 2023”, by Global Market Insights, Inc., Worldwide craniomaxillofacial devices market was worth USD 1.14 billion in 2015 and will collect a revenue of USD 1.93 billion by the end of 2023 with an annual growth rate of more than 6.8% over 2016-2023.

The number of oral and maxillofacial surgeries have increased considerably since the last decade. Craniomaxillofacial devices market growth is expected to be influenced heavily in the ensuing years, subject to the aforementioned fact. Of late, specialist surgeons have been giving preference to technologically advanced devices for carrying out facial reconstruction surgeries. Thus, it is undeniable that the escalating technological advancements in medical equipment will influence craniomaxillofacial devices industry share notably. The aging population across the globe is also a major driver influencing the market across key geographies. Elderly patients have lately been giving preference to dental implants for better anatomy, which will further stimulate craniomaxillofacial devices market share.

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Pertaining to the relatively limited competition in craniomaxillofacial devices industry, major biggies are investing heavily to develop technologically advanced devices. One such device is the 3D printed implant that has been introduced in the market. Nowadays, the 3D printed implant technique is increasingly used for cranial reconstructive surgeries such as external prosthetics and crowns, owing to the flexibility of the product. Moreover, technical advancements in the implementation of robot assisted CMG technology will fuel the product demand. For instance, advanced CMF distraction systems are extensively deployed across oncology, orthognathic surgery, and trauma reconstruction, owing to their role as bone stabilizers. On these grounds, craniomaxillofacial devices market size from CMF distraction systems is slated to register a modest annual growth rate of 8.8% over the coming six years. Screws, footplates, distractor body, and extension arms are the prominent constituents of this product. Of late, CMF procedures also encompass bio absorbable materials.

Bio-absorbable implants are gaining popularity in orthopedic surgical procedures subject to the material benefits such as radiolucency, minimized requirement of hardware based removal, and capability to transfer gradual load to healing tissues. This material, as analyzed, is mainly used for soft tissue fixation and for the fixation of fractures. Pertaining to the same, craniomaxillofacial devices market share from bioabsorbable material will exhibit a CAGR of 7.5% over the coming timeframe, having had a revenue of USD 280 million in 2015. The material’s superior capabilities to assimilate with the body will propel its demand further, especially since it helps to avoid secondary surgeries. Industry giants have been undertaking further research to invent specialized materials.

Browse key industry insights spread across 94 pages with 53 market data tables & 40 figures & charts from the report, Craniomaxillofacial Devices Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/craniomaxillofacial-devices-market

Cosmetic surgeries are becoming increasingly popular among the people due to their capability to enhance an individual’s appearance. The rising trends toward cosmetic surgeries like jaw replacement and chin augmentation are thus estimated to propel craniomaxillofacial devices market across the globe. Considering long-term effects, surgeons have been giving preferences to temporomandibular joints in case of jaw replacement. On that note, craniomaxillofacial devices industry size from temporomandibular joint replacement is likely to witness the highest annual growth rate of 11.2% over 2016-2023.

The governmental organizations of various countries are investing heavily to develop global healthcare infrastructure. A recent news report speaks about HLL Infra Tech Services Ltd. making strategic alliances with an India-based project management and consultancy company KITCO to develop healthcare infrastructure projects, which is likely to spur the regional craniomaxillofacial devices industry. The Make in India initiative by the Indian government has also generated lucrative opportunities for the industry giants in the healthcare sector. As per reliable sources, many of the developed countries have been giving preferences to the India belt as far as cosmetic surgeries are concerned, subject to the availability of cost-effective therapies.  On that note, Asia Pacific craniomaxillofacial devices market will exhibit a growth rate of 8.8% over the coming six years. The escalating requirement of minimally invasive medical treatments along with the growing prevalence of orthopedic disorders will fuel the product demand over the years ahead across the APAC region. India, Japan, and China will be the prominent revenue contributors.

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The cases of facial deformities and facial fractures are increasing exponentially across the U.S., owing to the lack of precautions at worksites. North America has been witnessing tremendous development in the residential and industrial sectors, which has led to the availability of advanced healthcare facilities, thereby fueling craniomaxillofacial devices market size. As per estimates, U.S. craniomaxillofacial devices industry is slated to surpass a revenue of more than USD 1 billion by the end of 2023.

Medtronic, Stryker Corporation, Zimmer-Biomet, Inc., and KLS Martin LP are the prominent players in craniomaxillofacial devices market. Industry giants are heavily involved in technological developments along with clinical process enhancements to sustain their business position. Craniomaxillofacial devices industry giants have also been engaged in strategic alliances with their competitors and as well as with research institutes to bring about a massive change in their product portfolios.  

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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 along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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