Global Cranial Fixation and Stabilization Systems Market Size Booming to Touch USD 2.2 Billion by 2029

Published | 11 August 2023

Global cranial fixation and stabilization systems market is flourishing because of an increasing incidence of road accidents and fall injuries and the growing prevalence of neurological disorders.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global cranial fixation and stabilization systems market size at USD 1,365.817 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global cranial fixation and stabilization systems market size to grow at a significant CAGR of 8.15% reaching a value of USD 2,185.3 million by 2029. Major growth drivers for the global cranial fixation and stabilization systems market include an increasing number of traumatic brain injuries and road accidents globally. The advancements in technology have led to the development of more efficient and minimally invasive systems, driving the market further. With an increasing global aging population, there is a higher prevalence of age-related neurosurgical conditions, such as brain tumors and degenerative brain disorders. This demographic shift has expanded the need for cranial fixation and stabilization systems to address these medical conditions effectively. Another notable factor, as economies grow and healthcare expenditure increases, there is greater investment in medical facilities, technology, and research. This has led to the development of more advanced cranial fixation and stabilization systems and improved access to these devices in various regions. Also, continuous advancements in material science, 3D printing, and implant design have resulted in the development of patient-specific cranial implants and innovative bioresorbable fixation systems. These advancements have improved patient outcomes and reduced post-operative complications, driving the market growth. However, lack of trained professionals is anticipated to restrain the overall market growth during the period in analysis.

Global Cranial Fixation and Stabilization Systems Market – Overview

Cranial fixation is a crucial technique in brain and spinal cord surgeries, demanding precision in the medical field. This delicate process involves securing bone flaps to the cranium for stable closure. These fixation systems also provide essential support in craniofacial surgeries. The healthcare industry considers this procedure one of the most demanding and sensitive. The global market for cranial fixation and stabilization systems is driven by the increasing prevalence of neurological conditions such as Parkinson's disease, stroke, and epilepsy. Favorable reimbursement policies, a rise in qualified healthcare professionals, and an uptick in accidents and falls further boost the market. Also, the utilization of 3D-printed products is expected to support market expansion.

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Impact of COVID-19 on Global Cranial Fixation and Stabilization Systems Market

COVID-19 pandemic adversely affected the global cranial fixation and stabilization systems market. Elective surgeries, including many neurosurgical procedures, were postponed or canceled during the pandemic to prioritize COVID-19 patients and conserve resources. This led to a decline in the demand for cranial fixation devices. Additionally, disruptions in the global supply chain affected the manufacturing and distribution of these systems. However, as healthcare systems adapted to the new normal, the market gradually recovered. The increased focus on healthcare infrastructure and the resumption of elective surgeries drove market growth over the post-pandemic period.

Global Cranial Fixation and Stabilization Systems Market – By End User

On the basis of end user, the global cranial fixation and stabilization systems market is split into Hospitals and Ambulatory Surgical Centers segments. The hospitals segment is expected to hold a higher market share during the forecast period by end user due to the substantial volume of neurosurgical procedures conducted within these medical facilities. According to data from the National Center of Biotechnology Information, approximately 23 to 24 million individuals worldwide experience injuries resulting from road accidents annually, with the United States alone recording around 200 fatalities due to road accidents. These statistics underscore the rising demand for surgical interventions in hospitals in the coming years. Nevertheless, high treatment costs and prolonged hospital stays in the outpatient department are anticipated to contribute to a decline in the hospital segment's market share during the forecast period.

Competitive Landscape

Major players operating in the global cranial fixation and stabilization systems market include Integra LifeSciences Corporation, B. Braun Melsungen AG, Depuy Synthes (Johnson & Johnson), Medtronic Plc, Stryker Corporation, Zimmer Biomet Holding, Inc., Evonos GmbH & Co. KG, Changzhou Huida Medical Instrument Co. Ltd, Jeil Medical Corporation, and KLS Martin. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Cranial Fixation and Stabilization Systems Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Cranial Fixation and Stabilization Systems Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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