Craniomaxillofacial Fixation Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Craniomaxillofacial Fixation Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The craniomaxillofacial fixation devices are expected to record a CAGR of 5.8% over the forecast period (2022-2027).

The COVID-19 outbreak significantly impacted the healthcare sector. As per the article published in 2020 under the title “The Impact of COVID-19 on the Treatment of Craniomaxillofacial Trauma and Head and Neck Infections”, the American Society of Plastic Surgeons (ASPS) advised that all plastic surgeons stop providing any elective or nonessential services by the new Centers for Medicare and Medicaid Services (CMS) recommendation that all elective surgeries, and nonessential medical, surgical, and dental procedures be delayed during the COVID-19 outbreak. Hence as per the factors mentioned above, COVID-19 had a significant impact on the craniomaxillofacial fixation devices market.

Increasing demand for minimally invasive surgeries is expected to drive the CMF devices market during the forecast period. Rising incidences of road accidents due to urbanization and industrialization and rising demand for effective reconstructive surgeries are expected to enable immense growth of the CMF devices market. For instance, as per the article published in 2022 under the title " Prevalence and pattern of mandibular fractures: A retrospective study in India", Mandibular fractures have multiple etiologies, including assault, sports injuries, and auto accidents. For men, assaults account for over 50% of mandibular fractures, but for women, falls and car accidents account for the majority of cases. Hence the increased number of mandibular fractures is likely to increase the adoption of craniomaxillofacial fixation devices and boost market growth.

The increasing prevalence of facial fractures and raising research and development in craniomaxillofacial fractures, and mergers and acquisitions are expected to result a growth of the studied market. For instance, in April 2021, Striker acquired TMJ Concepts, the company which offers patient-fitted prostheses for the reconstruction of the temporomandibular joint fabricated for the unique anatomy. The acquisitions are anticipated to increase the reconstruction portfolio of Stryker to a greater extent.

As per the aforementioned factors, the craniomaxillofacial fixation devices market is likely to grow over the forecast period. However, improper reimbursement policies restrain the market growth.

Key Market TrendsNeurosurgery is Expected to Witness a Healthy CAGR Over the Forecast Period

It has been observed that the neurosurgery segment of the application is believed to register healthy growth in the future which is majorly attributed to the well-established product offerings from the key players who operate internationally. Along with that, the growing number of neurological diseases and their burden is augmenting the number of neurosurgeries across the globe. In developing countries such as India, the number of neurosurgeons is increasing due to the demand for this specialty. Also, companies such as Stryker Corporation, Zimmer Biomet, etc. are focusing on coming up with products that fulfill the demand for novel approaches to the craniomaxillofacial fixation surgeries in neurological disorders.

Moreover, the increasing healthcare spending, increasing investment by medical device manufacturers, and increasing neurological disease prevalence are expected to drive overall market growth. For instance, in June 2022, the Indian Council of Medical Research (ICMR) and the Department of Health Research (DHR) unveiled the ICMR-DHR-Centre of Excellence (CoE) for fostering 'MedTech'. The ICMR-DHR-Centre of Excellence was launched at IIT-Bombay, IIT-Delhi, IIT-Guwahati, IIT-Hyderabad, IIT-Kanpur, IIT-Kharagpur, and IIT-Madras. These centers have been set to develop the products, and technologies in synergy with the requirements of the National Health Mission, Ayushman Bharat, and the Public Health Program of the government. Through this initiative, medical device production is anticipated to increase and thereby causing market growth.

Therefore, owing to the above-mentioned factors, the neurology segment is believed to show considerable growth over the forecast period.

North America Dominates the Market and is Expected to Grow During the Forecast Period

The United States currently holds the largest share of the market studied and is expected to follow the same trend over the forecast period. Growth is primarily attributed to the increased number of sports and facial fractures along with the presence of all international players in the country. Factors such as increasing demand for minimally invasive surgeries and technological advancement in the field of craniomaxillofacial fixation also boost the market growth in the studied region.

Being one of the most developed healthcare systems, most of the major companies across the globe have a focus on the United States as this country is beneficial for companies to gain market share. Also, the number of surgeries performed in the United States is higher and is increasing each year which is having a positive impact on the market studied. The presence of competitors, research and development, and increased awareness program boost the market growth. For instance, the American Academy of Craniomaxillofacial Surgeons conducts annual meetings and in the meeting, they discuss the new advancements and research details in the field of craniomaxillofacial surgery. The 2021 annual meeting discussed the future perspective of fetal In-Utero neurosurgery and other surgical practices.

Thus, as per the factors mentioned above, the market is expected to grow significantly in North America over the forecast period.

Competitive Landscape

The market for craniomaxillofacial fixation devices is moderately competitive with most of the international players dominating the market. Companies such as Stryker Corporation, Zimmer Biomet, Johnson & Johnson, etc. are some of the attractive players of this market. It is observed that with the technological advancements in the devices, few small to mid-sized companies will enter the market in the future and hold a substantial share.

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