Craniomaxillofacial Devices Market set to explode in coming years| Key Players: Stryker Corporation, KLS Martin L.P, Medtronic Plc, Medartis AG

Global Craniomaxillofacial Devices Market is set to exceed USD 1.9 billion by 2024; according to a new research study published by Global Market Insights, Inc. Recent technological advancements pertaining to the design of craniomaxillofacial devices that make it risk-free, less invasive and more efficient causing minimal damage to the bones will lead to growing demand and adoption rate of the device. Enhancement in the devices and implantation procedures has resulted in reduced health risk and increased the survival rate in patients. Hence, the rapid technological advancements will be one of the major factors responsible for boosting the craniomaxillofacial devices market growth in the near future.

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Increasing incidence in maxillofacial injuries and fractures will be a major market driving factor in the forthcoming years. The incidence of maxillofacial fractures vary from region to region on the basis of local demographic and socioeconomic status. As per the recent research study, the incidence is more in males than in females aged between 20 and 30 years. Factors such as increase in traffic accidents, sport injuries, falls, assaults and motor car accidents are responsible for increasing incidence of facial injuries and fractures, augmenting the market growth.

Growing demand for minimally invasive reconstruction surgeries instead of traditional methods will result in increase in adoption rate of craniomaxillofacial surgeries thereby, fueling the industry growth. According to a recent research, recognized healthcare cost savings and patient-centric benefits have led to introduction of minimally invasive surgical procedures. Hence, recent technological evolution will benefit the growth of craniomaxillofacial devices market in the upcoming years.

Internal fixators market was dominant in the year 2017 and was valued around USD 895.5 million. The use of internal fixation techniques by a surgeon to minimize operative management complications by reducing soft-tissue disruption will increase the adoption of such devices. Recent technological advancements in treatment of craniomaxillofacial injuries with the help of bioabsorbable internal fixators will drive the business growth.

External fixators market is estimated to grow at a considerable CAGR of 7.2% over the projection period. The use of mandibular external fixator helps to achieve definite bone healing. External fixators are usually used temporarily and repeatedly hence, fuelling the growth of the craniomaxillofacial devices market in the near future.

Metal CMF devices market had maximum market share and was valued over USD 858.1 million in the year 2017. The increase in use of metals in maxillofacial surgery to overcome the defects such as metal corrosion, difficult to shape them to the required form, late-onset implant failures, problems related to their cost and presence of scatters in radiographic examination will boost the market growth in the near future.

Bioabsorbable CMF devices market is estimated to grow a at CAGR of 7.5% over the forecast period. In the last few years, there has been increase in use of bioabsorbable devices in craniomaxillofacial surgery. These devices are made of polylactic acid and/or polyglycolic acid polymers that provide effective treatment for craniomaxillofacial fractures resulting in growing demand and adoption rate of the bioabsorbable craniomaxillofacial devices.

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Some of the companies operating in craniomaxillofacial devices includes Johnson & Johnson, Stryker Corporation, Medtronic, Zimmer- Biomet, Aesculap Implant Systems, Integra LifeSciences, Medartis and KLS Martin. The companies are consolidating their market position by increasing their focus on product portfolio, geographic expansion and sustainable strategies in order to maintain leadership position.

Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

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This release was published on openPR.