Cranial Fixation and Stabilization Systems Market Worth $1.74 Billion by 2022
The global cranial fixation and stabilization systems market is valued at USD 1.06 Billion in 2016 and is projected to reach USD 1.74 Billion by 2022, at a CAGR of 8.7%. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
The study estimates the cranial fixation and stabilization systems market size for 2017 and projects its demand till 2022. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the demand side include research neurosurgeons, medical researchers, hospital purchase manager, and academic research institutes.
This report segments the cranial fixation and stabilization systems market into product, material type, end user, and region. Based on product, the market is segmented into cranial fixation systems and cranial stabilization systems. In 2017, the cranial fixation systems segment accounted for the largest share of the total market. The growth of the segment is attributed to the availability of customized product offerings and the increasing adoption of cranial fixation systems by neurosurgeons.
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In-depth Segments Analysis:Based on type, the cranial fixation systems market is segmented into meshes, flap tube clamps, plates and screws. The meshes segment accounted for the largest share of the cranial fixation systems market in 2017. The meshes segment is projected to register the highest CAGR, due to its wide applications in cranial surgery.
Based on end user, the cranial fixation and stabilization systems market is segmented into hospitals and ambulatory surgical centers. The hospitals segment is expected grow at the highest CAGR during the forecast period. This growth is attributed to the growing volume of surgical procedures performed in hospitals for traumatic brain injury.
Regional Growth Analysis:In 2017, North America dominated the market followed by Europe. Asia is expected to grow at the highest CAGR during the forecast period. This can be attributed to factors such as the large population base in Asian countries, growing geriatric population, and increasing number of road accidents and fall related injuries which results in the increase in brain injuries. The increasing focus of prominent players on Asia is also supporting market growth in the region. However, low hospital budgets and uncertainties in insurance coverage and reimbursement are restraining the growth of this market to a certain extent.
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The cranial fixation and stabilization systems market is highly competitive with the presence of several small and big players. Prominent players in the market include B. Braun (Germany), Changzhou Huida (China), DePuy Synthes (US), Evonos (Germany), Integra (US), Jeil Medical (South Korea), KLS Martin (Germany), Medicon (Germany), Medtronic (Ireland), Micromar (Brazil), NEOS Surgery (Spain), OsteoMed (US), Pro Med Instruments (Germany), Stryker (US), and Zimmer Biomet (US).