Global Cranial Implants Market is anticipated to grow at a 6.2% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Global Cranial Implants Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global cranial implants market was estimated to be over US$ 800 Mn in 2018. It is anticipated to grow at a CAGR of 6.2% from 2019 to 2030.
Increasing innovations in the field of cranial implants coupled with growing technological advancements by way of 3-D printing, computer-aided implant design, and regenerative medicine has catalyzed the emergence of patient-specific 3D implants that are fabricated using a variety of materials, including ceramic, polymer or metal. Cranial implants are efficacious and precise for treatment of cranial defects; these implants aid surgeons to achieve better patient outcomes. The growth of the market is further fueled by factors such as a rising demand for customized cranial implants, growing geriatric population, and upsurge in the number of trauma cases due to road accidents and injuries. Moreover, rising awareness regarding different options in cranial implants, growing focus on research and development are some of the other factors triggering the growth of cranial implants market.
Incessantly Rising Number of Trauma & Cancer Cases
There has been a rise globally in the number of trauma cases, due to injuries or accidents. According to The American Association for the Surgery of Trauma (AAST), traumatic brain injury (TBI) is the single substantial cause of death from injury, in the U.S. According to The American Association for the Surgery of Trauma, there are over 5 million people in the U.S. living with disability from TBI at an estimated cost of over $37.8 billion per year. Additionally, there has been a rise in the incidences of brain cancers globally. The American Society of Clinical Oncology (ASCO) states that brain tumors account for ~85% to 90% of all primary Central Nervous System (CNS) tumors. As a result of increase in the number of trauma and cancer cases, the number of patient population requiring cranial implants is also expected to rise concomitantly, thereby propelling the growth of cranial implants market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Global Cranial Implants Market by Product (Customized Cranial Implants, Non-Customized Cranial Implants), Material (Polymer, Ceramic, Metal), End User (Hospitals, Neurosurgery Specialty Centers) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/global-cranial-implants-market/43
Technological advancements in the field of cranial implants is another pivotal factor boosting the growth of this market. The growing demand for customized implants that offer efficient and effective implant solutions and ensure better patient outcomes are further spurring the technological advancements. Patients and doctors alike are looking out for more cost effective solutions that offer choice of options in terms of materials and also ensure efficient restoration of the cranial defects. Technological advancements have ensured fewer complications and increased success rates along with production of implants that have value added features. Prefabricated cranial implants that are made using computer-aided design are proving to be time saving while reconstructing large cranial defects.
Risks Associated with Cranial Implants
Although cranial implants have seen a swift growth and technological advancements in the recent past, and surgeons are performing cranial implants all over the world successfully, they are not without their fair share of pitfalls. There are varied complications that are associated with cranial implants, such as, bleeding, risk of infection, implant fractures and adverse scarring. Lack of pertinent care during and post-surgical implantation can lead to potential implant failures and compromise the healing process. Inspite of the variety of material available for cranial implants, they are still liable to have post-surgical or intra surgical complications which can lead to delayed healing. These factors are expected to impede the growth of the cranial implants market.
North America A Major Market Share Holder
North America holds the major share of the global cranial implants market. The growth in this region is anticipated to be propelled by factors such as growing geriatric population, presence of key players, increasing awareness amongst the population regarding cranial implants, availability of technologically enhanced cranial implants. The key players in this region have a strong product portfolio, which offers a wider choice to the patient population. Asia Pacific region is expected to witness the highest CAGR in the forecast period.
Major Players in the Global Cranial Implants Market
The prominent players in the global cranial implants market are Zimmer Biomet, Medtronic, Stryker, Medartis, Kelyniam Global Inc., B. Braun Melsungen AG, DePuy Synthes, Xilloc Medical B.V., KLS Martin Group, Ortho Baltic, among others.
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