Albany, New York, Jan. 18, 2019 (GLOBE NEWSWIRE) -- According to TMR, the global craniomaxillofacial implants market pegged the value of US$1,010.0 mn in 2013 and is expected to attain a value of US$1,752.9 mn by the end of the year 2022. The market is anticipated to swell with a CAGR of 6.2% over the forecast period from 2014 and 2022.
Based on the location, the internal fixators segment dominated the global craniomaxillofacial implants market accounting for the leading share of 80% in the year 2013 due to technological breakthroughs in respect with the internal fixators. On the basis of region, North America dominated the global craniomaxillofacial implants market by accounting more than 50% share in 2013. This growth is observed due to high and early adoption of the advanced healthcare in the developed countries such as the US and Canada.
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Effective Facial Restructuring to Propel Growth of Market
The incidences of resorbable implants and craniomaxillofacial implants are growing for compelling treatment stage for effective facial recreation and fast growth. This factor is boosting the adoption of the craniomaxillofacial implants and influencing positively on the growth of the global craniomaxillofacial implants market. Additionally, the growing geriatric population is boosting demand for the customized craniomaxillofacial implants, which are further boosting the growth of the global craniomaxillofacial implants market.
Rising frequency of accidents is creating the need for the growth and leading to increasing investment for developing the craniomaxillofacial implants. Additionally, growing awareness about the presence of the craniomaxillofacial implants and its benefits is augmenting its adoption and growth of the craniomaxillofacial implants market.
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High Cost of Surgeries to Restrain Growth of Market
However, reluctance to the implants due to its high cost coupled with the absence of medical coverage across numerous countries is restraining the growth of the craniomaxillofacial implants market. Additionally, the improper selection of the craniomaxillofacial implants is another factor restraining the growth of the global craniomaxillofacial implant market. Furthermore, the lack of reimbursement policies coupled with the presence of numerous alternatives such as twofold jaw surgeries is restraining the growth of the craniomaxillofacial implant market.
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Nonetheless, craniomaxillofacial implant helps to restore the regular shape and allows the solid and viable fixation of facial bones. The usage of craniomaxillofacial implant offers the favored surgical devices. These factors are fortifying the development of the craniomaxillofacial implant market and likely to offer opportunities over the forecast period.
Transparency Market Research (TMR) witnesses the global craniomaxillofacial implants market has a highly fragmented vendor landscape. Some of the companies dominating the global craniomaxillofacial implants market are Medartis AG, B. Braun Melsungen AG, Medtronic, Inc., Rebstock Instruments GmbH, General Implants GmbH, and Medical Vision Australia Holdings. Numerous players operating in the market are leading to increasing the level of competition in the market.
This information is encompassed in the report by TMR, titled “Craniomaxillofacial Implants Market (Location: Internal and External Fixators; Composition: Calcium Ceramics, Metals and Alloys, Polymers, and Biologic Materials; Nature: Non-resorbable and Resorbable Fixators; Type: Plate and Screw Fixator Systems, Bone Graft Substitutes, Distraction Systems, and TMJ Replacement Devices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022.”
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