Global Distraction Osteogenesis Devices Market to Surpass US$ 348.2 Million by 2027 - Coherent Market Insights

SEATTLE, March 25, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global distraction osteogenesis devices market was valued at US$ 228.3 million in 2018 and is expected to exhibit a CAGR of 4.9% over the forecast period (2019-2027).

Key Trends and Analysis of the Distraction Osteogenesis Devices Market:

Key trends in the market include rising number of bone defect cases, advancements in technology in distraction osteogenesis devices, and increasing adoption of growth strategies such as acquisitions, collaborations, and product launches by the market players.

The rising number of bone defect cases, and craniofacial anomalies such as cleft palate, craniosynostosis, hemifacial microsomia, and others are expected to drive growth of the distraction osteogenesis devices market during the forecast period. For instance, according to the American Cleft Palate Craniofacial Association (ACPA), in 2018, clefts were one of the most common types of birth defects in the U.S. and accounted for around 1 in 700 births across the world.

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Several market players are focused on developing and launching technologies that would help surgeons to make critical preoperative decisions and allow efficient execution of the procedures, thereby achieving desirable patient outcomes, which is expected to propel the market growth. For instance, in March 2019, Stryker Corporation introduced the new 1688 visualization platform designed to enhance orthopedic surgical efficiency and patient experience.

Also, initiatives by several organizations for providing surgical care for facial deformities is another major factor propelling the market growth. For instance, Operation Smile is an international medical charity that has provided a number of free surgeries for children and young adults in emerging economies such as China, India, and Sub-Saharan Africa who are born with cleft lip, cleft palate or other dental and facial conditions. Operation Smile has a global network of medical professionals providing high surgical care in over 60 countries.

Moreover, increasing adoption of partnership and distribution agreements by market players are expected to propel the market growth over the forecast period. For instance, in 2016, Acumed LLC collaborated with The Perry Initiative, a hands-on orthopedic and engineering program, to develop innovative orthopedic and medical solutions for improving patient care.

Key Market Takeaways:

• The distraction osteogenesis devices market is expected to exhibit a CAGR of 4.9% during the forecast period (2019-2027), owing to rising number of bone defect cases, advancements in technology in distraction osteogenesis devices, and increasing adoption of growth strategies such as acquisitions, collaborations, and product launches by the market players. For instance, in 2019, according to the NHS (National Health Service), cleft lip and palate are the most common facial birth defects in the U.K. and are estimated to affect around 1 in 700 babies.
• Key players are focused on adopting growth strategies such as product launches, collaborations, and acquisitions for enhancing their product offerings in the potential market, which in turn is expected to propel the market growth over the forecast period. For instance, in 2017, Titamed collaborated with Royal Belgium Society of Stomatology and Maxillofacial Surgery and MKA Wassland for development and increasing sales of its products in Europe.

Key players operating in the global distraction osteogenesis devices market include—

Johnson & Johnson, Zimmer Biomet Holdings, Inc., Stryker Corporation, KLS Martin Group, Acumed LLC, OsteoMed, and Titamed

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Market Segmentations:

• Global Distraction Osteogenesis Devices Market, By Device Type:
• Mandibular Distraction Devices
• Palatal Distraction Devices
• Alveolar Distraction Devices
• Cranial Distraction Devices
• LeFort Distractor Devices
• Small Bone Distractor Devices
• Others
• Global Distraction Osteogenesis Devices Market, By Placement:
• Internal Distractors
• External Distractors
• Global Distraction Osteogenesis Devices Market, By End User:
• Hospitals
• Orthopedic Clinics
• Others
• Global Distraction Osteogenesis Devices Market, By Region:
• North America
• By Country:
• U.S.
• Canada
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Europe
• By Country:
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• By Country:
• GCC
• Israel
• Rest of Middle East
• Africa
• By Country/Region:
• South Africa
• Central Africa
• North Africa

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SOURCE Coherent Market Insights