The global cranial fixation and stabilization market is growing pervasively. The increasing prevalence of neurological conditions such as epilepsy, stroke, neuroinfectious, and traumatic injuries is a major growth propeller. Rising numbers of bone and head injury cases, road accidents, and spinal cord injuries are influencing the growth of the market. Moreover, increasing R&D expenditures and aggressive strategies adopted by the top players, such as new product launches are escalating the market on the global platform.
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According to Market Research Future (MRFR), the global cranial fixation and stabilization market is poised to touch a valuation of USD 2.29 BN by 2025. In its recently published analysis, MRFR also asserts that the market would register a steady CAGR over 8.90% throughout the forecast period (2019–2025). Large-scale advancements in healthcare equipment manufacturing technologies and increasing spending on healthcare are the key driving forces of the market.
Additional factors that are further boosting the market growth, include the development of new and specialized surgical procedures to treat various neurological and head/neck trauma cases. Simultaneously, increasing numbers of geriatric populaces and the growing preference of minimally invasive surgeries push the market growth. Standardization of healthcare practices and procedures globally alongside, the critical need for head/neck stabilization during surgery fosters the growth of the market.
On the other hand, stringent regulations regarding the classification of cranial fixation & stabilization equipment as class II and class III medical devices is a key factor impeding the growth of the market. Also, different regulatory standards across the globe are expected to obstruct market growth, affecting imports and exports severely. Nevertheless, symbiotic growth of the healthcare & technology industries and emphasis on reducing patient mortality are two of the major factors that would support the growth of the market.
Global Cranial Fixation and Stabilization Market – Segments
The report is segmented into five market dynamics to widen the scope of understanding
By Category : Cranial Fixation Systems and Cranial Stabilization Systems.
By Product : Meshes, Skull Clamps, Flap Tube Clamps, Horseshoe Headrests, Screws, and Accessories, among others.
By Type : Resorbable and Non- Resorbable.
By End-user : Hospitals and Ambulatory Surgical Centers, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Cranial Fixation and Stabilization Market - Regional Analysis
North America leads the global cranial fixation and stabilization market with a massive 55% of the market share. The region is heading with the increasing patient population suffering from neurological conditions such as epilepsy, stroke, neuroinfectious, and traumatic injuries which creates enormous market demand. Countries like the US and Canada, backed by substantial technological innovation and advancement in manufacturing processes of healthcare equipment, play a vital role in the growth of the regional market.
Moreover, factors such as the increasing geriatric population alongside, the high healthcare expenditures and the increase in FDA approvals, substantiate the growth of cranial fixation and stabilization market in the region. Also, rising R&D funding to develop new technologies and specialized surgical procedures to treat various neurological and head/neck trauma cases are supporting the regional market growth.
The cranial fixation and stabilization market in the European region accounts for the second-largest market, globally. Factors such as the financial support from the government for research and development activities, increasing geriatric population, and the demand for cranial fixation and stabilization in the treatment procedures drive the market growth. However, the manufacture of medical equipment is subjected to stringent regulations. To fast track the regulatory process, the European Union (EU) has created a single body for all member countries, which befit medium- and small-scale manufacturers, directly.
The Asia Pacific cranial fixation and stabilization market is emerging as a profitable market, globally. Rising cases of neurological disorders & head traumas requiring surgery along with the growing awareness in the region about this novel equipment drive the regional market growth. Moreover, increasing healthcare expenditure, government funding, and the rising investments in healthcare and expansions by market players are some of the key driving forces behind the growth of the regional market.
Global Cranial Fixation and Stabilization Market - Competitive Analysis
Highly competitive, the cranial fixation and stabilization market appears to be widely expanded and fragmented characterized by several small and large-scale players. To gain a competitive edge in the market, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, product launch, and expansion. These strategies, in turn, increases the profit of the company while reducing the competition, significantly. The acquisition of local manufactures by multinational companies changes the structure of the market.
Major Players:
Players leading the global cranial fixation and stabilization market include Johnson & Johnson (US), Stryker (US), Ostomed (UK), KLS Martin Group (Germany), Medtronic (US), Integra LifeSciences Corporation (US), Braun Melsungen AG (Germany), Changzhou Huida (China), DePuy Synthes (US), Evonos (Germany), Jeil Medical (South Korea), Medicon (Germany), Micromar (Brazil), NEOS Surgery (Spain), Pro Med Instruments (Germany), and Zimmer Biomet (US), among others.
Industry/ Innovation/ Related News:
August 15, 2019 ----- Medicrea Group (France), a leading global conglomerate dealing in development, manufacture, and distribution of surgical and other medical instruments, apparatus, and equipment, announced the receiving of FDA 510(k) clearance for its Tulip Genesis, a top-loading screw system. The clearance of Medicrea’s AI spine platform completes the ’company’s UNid ASI (Adaptive Spine Intelligence) proprietary platform technology. The Artificial Intelligence (AI) embedded within the platform allows a surgeon to visualize the compensatory mechanisms above and below the instrumented spine.
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