ALBANY, N.Y., Oct. 8, 2020 /PRNewswire/ -- Relentless efforts to meet the need of patient population, especially those who need implants due to traumatic head injuries, have paved way to new designs and better materials in the cranial implants market. A host of materials such as polymer, ceramic, and metal have been developed with good surgical outcomes.
3D printing has opened up new vistas of growth in the cranial implants market, opine analysts at TMR.
Clocking CAGR of 6.8% from 2018 to 2026, the global cranial implants market is expected to touch valuation of US$ 1.4 Bn by the period-end. Rise in number of cranial implantation in hospitals has helped drive opportunities for manufacturers in the market. The global worth in 2017 was US$ 792.2 Mn.
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Key Findings of Cranial Implants Market Report
- Of the key product types, customized cranial implants expected to clock impressive CAGR of 7.1% during 2018 – 2026
- Volume of non-customized implants in the market is higher, though
- Among the various end users, hospitals segment led the global market in 2017
- North America is expected to hold a vast majority of share in global market during 2018 – 2026
- Opportunities in Asia Pacific are expected to rise at promising pace
- The growth of Asia Pacific cranial implants market is bolstered by rise in elderly populations who need implantation
- Of the various materials used, metal and polymer are at the forefront for generating revenues
- In the metal segment, grade 5 surgical titanium (i.e., Ti-6Al-4V or Ti-6-4), is the most popular
Explore 173 pages of top-notch research, incisive insights, and detailed country-level projections on Cranial Implants Market (Product - Customized Cranial Implants, Non-customized Cranial Implants; Material - Polymer, Ceramic, Metal; End user - Hospitals, Specialty Neurosurgery Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026 at https://www.transparencymarketresearch.com/report-toc/60159
Cranial Implants Market: Key Driving Factors and Promising Avenues
- Expanding target population is a key driver for the cranial implants market. The population of cranial defects due to traumatic brain injuries (TBIs), brain tumors, and hemorrhagic diseases is growing at a marked pace.
- Growing awareness about the success rates of cranial implantation even in developing economies has spurred the demand.
- Constant research and development in the cranial implants market has focused on new manufacturing technologies and better designs. Such strides help reduce the complications, ensure better fit, and allow minimally invasive procedures for surgeons.
- A wide assortment of polymer and composites are being extensively studied for the manufacturing of cranial implants. For instance, PEEK (poly-ether-ether ketone) and PEKK (Poly-ether-ketone ketone) have attracted the interest of manufacturers of large format cranial implants.
- Over the years, the use of ceramic implants to fill minor gaps has also boosted the market.
- Rise in neurosurgeries in hospitals has also boosted the growth of the market.
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Cranial Implants Market: Regional Assessment
North America has held the sway in the global cranial implants market. The regional market is characterized with a marked appetite for next-gen implant materials and surgical technologies. The opportunities have also risen on the back of the rapidly aging populations over the past few years. These trends have been supported by the strides being made in healthcare facilities in the economies of North America.
On the other hand, Asia Pacific is expected to play crucial role in expanding the valuation of the global cranial implants market. A great deal of the growth impetus comes from the rise in demand for cranial implantation among the regional market.
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Cranial Implants Market: Competitive Assessment
Players in the global cranial implants market are gearing toward mergers and collaborations. Such strategic moves help companies expand their geographic presence. Top players benefit by using such strategies to unveil advanced implants at a faster pace.
Several players are keen on tapping into the revenue potential by targeting the demand for customized cranial implants. They have ramped up their investments in regenerative medicine and keen on harnessing 3D printing technologies in this regard.
Some of the well-entrenched players in the cranial implants market are Medtronic, Stryker, Zimmer Biomet, Kelyniam Global Inc, and B. Braun Melsungen.
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The cranial implants market can be segmented as follows:
- Customized Cranial Implants
- Non-customized Cranial Implants
- Neurosurgery Specialty Centers
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Aesthetic Implant Market: The aesthetic implant market is expected to grow at a CAGR of ~7% during the forecast period. This growth of the market can be attributed to continuous efforts to improve efficiency, durability, and performance of aesthetic implants. The introduction of the new imaging technology and 3D printing in the aesthetic implant market is anticipated to play a key role in product development.
Veterinary Orthopedic Implant Market: The global veterinary orthopedic implant market was valued at US$ 86.3 Mn in 2017. It is projected to expand at a CAGR of 7.1% from 2018 to 2026. Pets act as great stress-busters. A rise in psychological problems has led to an increase in the adoption of pet animals. This, in turn, will benefit the veterinary orthopedic implant market to a great extent. Growing government support for veterinary care is also proving to be a game-changer for the market.
Orthopedic Implants Market: Developments in anesthesia techniques, rise in adoption of minimally invasive procedures, increase in incidence rate of injuries, surge in geriatric population, and rise in adoption of technologically advanced products to treat musculoskeletal disorders are likely to drive the global orthopedic implants market from 2018 to 2026.
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