Cranial Implants Market Witnesses Rapid Growth, Projected to Reach $1.82 Billion by 2028 - Driven by Escalating Neurological Disorders and Healthcare Spending

The cranial implants market has witnessed rapid growth, escalating from $1.11 billion in 2023 to a projected $1.23 billion in 2024, with a robust Compound Annual Growth Rate (CAGR) of 11.1%. This upward trajectory is anticipated to continue, propelling the market to an estimated $1.82 billion by 2028, with a sustained CAGR of 10.2%.

Key Drivers:

Neurological Diseases and Traumatic Brain Injuries: The market is significantly influenced by the escalating prevalence of neurological diseases and traumatic brain injuries resulting from road accidents. Neurological conditions, including Parkinson's disease, underscore the need for cranial implants to facilitate non-intrusive observation and streamlined treatment. The rising neurological disorder cases, with an estimated 600,000 people diagnosed annually in the UK alone, contribute to the market's growth.

Healthcare Expenditure: The increasing healthcare expenditure is a pivotal factor fueling the demand for cranial implants. Countries like the UK, witnessing a surge in healthcare spending, are contributing to the market's expansion. Notably, healthcare spending in the UK increased by 9.4% in nominal terms in May 2023, reaching $367.25 billion (£280.7 billion), emphasizing the financial support for cranial implant procedures.

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Major Players:
Leading companies shaping the cranial implants market landscape include B. Braun Melsungen AG, Stryker Corporation, Medtronic PLC, and Johnson & Johnson Services Ltd. These key players play a crucial role in innovation and market development.

Trends and Innovations:

3D Printing Revolution: Innovations in 3D printing technology are transforming the cranial implants market. For instance, 3D Systems introduced 3D printing technology for cranial implants, offering patient-specific, custom-designed implants. This approach ensures a precise fit and improved patient outcomes.

PEEK Cranial Implants: The introduction of Polyether Ether cranial implants is redefining neurological care. CureTech launched a PEEK cranial implant, a custom-made solution designed with computer-aided design (CAD) software and 3D printing technology. PEEK implants offer biocompatibility, radiolucency, and a modulus of elasticity similar to bone, enhancing their efficacy in cranial defect restoration.

Regional Dynamics and Market Segmentation:
North America dominated the cranial implants market in 2023, with Asia-Pacific expected to witness the fastest growth in the forecast period.

The cranial implants market covered in this report is segmented -
1) By Type: Customized Cranial Implants, Non-customized Cranial Implants
2) By Material: Polymer, Ceramic, Metal
3) By End User: Hospital and Trauma Centers, Ambulatory Surgical Centers, Specialty Clinics, Other End-Users

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Cranial Implants Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Cranial Implants Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cranial implants market size, cranial implants market drivers and trends, cranial implants market major players, competitors' revenues, cranial implants market positioning, and cranial implants market growth across geographies. The cranial implants market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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