The global cranial fixation & stabilization devices market size is expected to reach USD 2.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% during the forecast period. Increasing prevalence of neurological disorders and road accidents is expected to drive the demand for cranial surgeries and thereby, fixation & stabilization devices over the forecast period.
Growing demand for minimally invasive surgery due to their associated advantages is another factor propelling the industry. For instance, cranial fixation performed by using mini titanium plates & screws is simple, safe, and cost effective solution for immediate stability and repositioning than traditional sutures. In addition, increasing awareness among neurosurgeons is expected to fuel the adoption. There is a significant increase in the adoption of cranial fixation pins by neurosurgeons in patients with age below 5 years over the past few years.
Cranial fixation is the procedure in which bone fragments or grafts and bone flaps are fixed to cranium to offer stable closure in surgery.
Increase in demand for cranial fixation plates & screws due to rise in surgical procedures such as craniotomies, cranial trauma & fixation is anticipated to boost the demand for cranial fixation devices over the forecast period
Stabilization product segment is expected to witness significant growth in the coming years due to technological advancements in the field of neuroscience
The hospital segment accounted for the largest revenue share as the number of neurosurgical procedures performed in the hospitals are more
The adoption of cranial stabilization devices is expected to increase in ambulatory surgical centers as the demand for outpatient craniotomies is increasing rapidly
North America held the dominant market share in 2017, due to presence of well established healthcare industry, high awareness among end users, and demand for technologically advanced healthcare products
The Asia pacific regional market, especially China and India, are anticipated to witness remarkable growth over the forecast period as incidence of neurological conditions due to road accidents is high in these regions
The market is competitive in nature as companies are involved in building up strategies such as merger & acquisitions, geographic expansions, and new product developments to gain market share
Some of the key companies present in the market are Stryker, Medtronic, Ostomed, Johnson & Johnson, Integra LifeSciences Corporation, KLS Martin Group, and B. Braun Melsungen AG.
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Grand View Research has segmented the global cranial fixation & stabilization devices market on the basis of product, end-use and region:
Cranial Fixation and Stabilization Devices Product Outlook (Revenue, USD Million, 2014 - 2025)
Cranial Fixation Devices
Cranial Stabilization Devices
Cranial Fixation and Stabilization Devices End-use Outlook (Revenue, USD Million, 2014 - 2025)
Ambulatory Surgical Centers
Cranial Fixation and Stabilization Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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