CRANIAL FIXATION & STABILIZATION SYSTEMS MARKET REPORT OVERVIEW
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The global cranial fixation & stabilization systems market size was USD 1526.9 million in 2021 and market is projected to touch USD 2094 million by 2031 at CAGR 3.2% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with cranial fixation & stabilization systems experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
Cranial fixation & stabilization is a surgical process related to the spinal cord and brain. This process is designed for the assurance of structural stability of the skull, followed by a craniotomy procedure. This procedure is considered one of the most sensitive and demanding procedures in the healthcare sector. Bone flaps, grafts, or fragments are fixed to the cranium to provide stable closure. A procedure used in spine and brain surgery is known as cranial fixation. One of the most sensitive and challenging medical procedures is this one.
The systems used during spinal or neurological operations are called cranial fixation & stabilization systems. One of the most delicate and challenging surgical procedures as it is related to the brain. An increase in neurological conditions like epilepsy, stroke, and Parkinson's disease is driving the global market for cranial fixation stabilization devices. The market is anticipated to expand as a result of an increase in qualified healthcare workers, advantageous reimbursement rules, and a rise in injuries from falls and traffic accidents. The market's expansion is anticipated to be aided by 3D-printed goods.
COVID-19 Impact: Lower Product Supply Impeded Market Growth
The demand for medical equipment and other supplies increased during the pandemic because of the rising health concerns among the population. The demand for respiratory medications and equipment such as life-support machines, monitors, oxygen generators, and atomizers escalated. The pandemic led to a surge in demand for medical devices. The demand for medical devices went low due to the postponement of surgeries to avoid any further spread of the virus. The market witnessed a downfall in market growth due to the lockdown coupled with stringent regulations imposed by the government.
LATEST TRENDS
"Rising Prevalence of Neurological Disorders to Escalate Growth in Market"
Rising incidences of diseases related to brains, such as Parkinson's disease, traumatic injuries, epilepsy, neuro-infections, and brain stroke, coupled with the expanding number of fall injuries and road accidents, are most likely to gain an augmented cranial fixation & stabilization systems market growth. The easy availability of skilled surgeons and healthcare professionals and favorable policies of reimbursement are increasing the number of surgeries, leading to the rise in demand for cranial fixation & stabilization systems. Additionally, the number of incidents of brain and spine surgeries is increasing due to the presence of various technological advancements expected to lead to higher demand for the product.
CRANIAL FIXATION & STABILIZATION SYSTEMS MARKET SEGMENTATION
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By Type Analysis
By type, the market is segmented into resorbable fixation systems and non-resorbable fixation systems.
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By Application Analysis
Based on application, the market is classified into hospitals and ambulatory surgical centers.
Hospitals are forecasted to hold the highest share in the market because of the rising volume of surgical procedures performed for traumatic injuries in the brain at hospitals.
DRIVING FACTORS
"Rising Cases of Spinal Disorders to Aid Product Demand"
Another element driving the market's expansion is the rising number of patients with spinal diseases and trauma necessitating cranial fixation during operations. Additionally, it is anticipated that increasing stimulation techniques for deep brain acceptance will fuel market expansion. Devices for cranial fixation and stability aid in the management of CSF as well as the treatment of spinal disorders, neuro-oncology, pelvic or trauma, dura mater repair, neurovascular diseases, and neurovascular diseases. Additionally, the manufacturing of advanced devices and these products are expected to influence cranial fixation & stabilization systems market growth.
"Accelerating Number of Road Accidents and Focus on 3d Printed Products to Propel Growth"
The increasing per capita income of the population is increasing the adoption of vehicles such as sports bikes and cars, which leads to the rising number of road accidents. An increase in the number of road accidents is leading to various cases of brain injury and diseases. The surge in the number of patients suffering from brain disorders or diseases led to an increase in the number of surgeries resulting in expanded demand for cranial fixation & stabilization systems. Additionally, the impelling focus on 3D-printed products is predicted to offer potential opportunities for cranial fixation & stabilization systems market growth.
RESTRAINING FACTORS
"Lack of Awareness and Healthcare Facilities to Retard Growth"
The lack of awareness about the presence of healthcare equipment may limit the cranial fixation & stabilization systems market growth. Low healthcare or hospital budgets coupled with uncertainties in insurance coverage and repayment are forecasted to hinder market expansion.
CRANIAL FIXATION & STABILIZATION SYSTEMS MARKET REGIONAL INSIGHTS
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"North America to Dominate the Market Owing to the Suitable Reimbursement Policies"
North America is anticipated to lead the global cranial fixation & stabilization systems market share owing to the proper policies of reimbursements. The awareness regarding the treatment and diagnosis of neurological diseases or disorders is accelerating in the region, which is projected to foster major growth in the market.
Asia Pacific is forecasted to hold a significant part of the cranial fixation & stabilization systems market share by virtue of technological developments in the healthcare sector and equipment. Additionally, the proper flow of reimbursement policies is likely to propel growth in the region.
KEY INDUSTRY PLAYERS
"Key Players focusing on innovative technology development to grow in market"
Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher cranial fixation & stabilization systems market share by launching new products.
List of Market Players Profiled
- B. Braun (Germany)
- Changzhou Huida (China)
- DePuy Synthes (U.S.)
- Evonos (Germany)
- Integra (U.S.)
- Jeil Medical (South Korea)
- KLS Martin ( (Germany)
- Medicon (Germany)
- Medtronic (Ireland)
- Micromar (Brazil)
- NEOS Surgery (Spain)
- OsteoMed (U.S.)
- Pro Med Instruments (Germany)
- Stryker (U.S.)
- Zimmer Biomet (U.S.)
INDUSTRY DEVELOPMENT
- August 2021- Red One Medical, which is a medical innovations for Veterans Affairs and Defense’s private sector scout agreed with a global reconstructive implant solution (DoD), OssDsign. The companies will access the revolutionary products of OssDsign for the treatment of patients with spinal bone and cranial abnormalities.
REPORT COVERAGE
An overview of the product is provided along with the product description. Numerous industry elements are included in the research.
- The pandemic's aftereffects and the subsequent lockdown.
- The market's most recent trend is currently fueling expansion.
- The factors are most likely to stimulate market growth.
- The reasons the market is expected to grow more slowly.
- A comprehensive regional analysis of the market is conducted.
- Significant players and their business offices are also covered in the article.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1526.9 Million in 2021 |
Market Size Value By |
US$ 2094 Million by 2031 |
Growth Rate |
CAGR of 3.2% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the cranial fixation & stabilization systems market expected to touch by 2031?
Based on our research, the cranial fixation & stabilization systems market is projected to touch USD 2094 million by 2031.
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What CAGR is the cranial fixation & stabilization systems market expected to exhibit by 2031?
The cranial fixation & stabilization systems market is expected to exhibit a CAGR of 3.2% by 2031.
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What are the segments of the cranial fixation & stabilization systems market?
By type, the market is segmented into resorbable fixation systems and non-resorbable fixation systems. Based on application, the market is classified into hospitals and ambulatory surgical centers.
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Which are the driving factors of the cranial fixation & stabilization systems market?
Rising cases of spinal disorders to aid product demand and accelerating number of road accidents and focus on 3D printed products to propel growth are the factors driving the cranial fixation & stabilization systems market.
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Which are the top companies operating in the cranial fixation & stabilization systems market?
B. Braun, Changzhou Huida, DePuy Synthes, Evonos, Integra, Jeil Medical, KLS Martin, Medicon, Medtronic, Micromar, NEOS Surgery, OsteoMed, Pro Med Instruments (Germany), Stryker, and Zimmer Biomet are the top companies operating in the cranial fixation & stabilization systems market.