Global cranio maxillofacial fixation devices market to witness significant growth during the assessment period
Absolute $ opportunity is usually overlooked when analysts forecast a market but it is critical in assessing the level of opportunity that an enterprise can look to achieve, as well as to identify potential resources from both a sales and delivery perspective. The global market for cranio maxillofacial fixation devices market represents absolute $ opportunity of more than US$ 110 Mn in 2018 over 2017 and incremental opportunity of more than US$ 1,200 Mn between 2017 and 2025. Persistence Market Research forecasts that the global cranio maxillofacial fixation devices market is expected to reach more than US$ 1500 Mn in 2017, expanding at a CAGR of 7.5% between 2017 and 2025.
Increasing incidence of accidents across the globe is one of the most significant reasons behind revenue growth of the global cranio maxillofacial fixation devices market
Rapid modernization, use of fast moving vehicles and increasing cases of ‘drink and drive’ are responsible for the increasing cases of accidents all over the world. In India alone, the number of deaths due to road accidents in the first 264 days of 2016 were more than 3000. These incidences are responsible for the rising patient pool in emergency departments of the hospitals. Most of these accidents are severe that need cranial or facial repair. Apart from accidents, war victims are another group that requires orthopedic prosthetics. These increasing incidents are contributing in the robust growth of the global cranio maxillofacial fixation devices market.
Rise of healthcare integrated services is expected to boom the global cranio maxillofacial fixation devices market. In integrated services a provider is responsible for not only the medical technologies, treatments and supplies but also for delivering them to patients. For instance, in March 2017, the Mexican government funded US$ 5 Mn towards the construction of the island’s Marigot Hospital. Such healthcare initiatives are expected to create a robust market for quality healthcare service delivery.
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Increasing efforts and funding to raise awareness of cleft and craniofacial disorders is expected to fuel the global cranio maxillofacial fixation devices market. Patients undergo what is often a series of plastic and reconstructive surgeries every year to treat congenital deformities or acquired craniofacial anomalies due to trauma, burns, illnesses or accidents. However, in order to raise awareness of cleft and craniofacial disorders, the various organizations in the world are taking efforts to organize camps and other gatherings. For instance, the American Society of Plastic Surgeons/The Plastic Surgery Foundation, the American Society of Maxillofacial Surgeons
(ASMS) and the American Society for Craniofacial Surgery (ASCFS) joined forces in July to support National Cleft and Craniofacial Awareness and Prevention month.
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Plate and screw fixation is the most attractive product type segment, with attractiveness index of 2.6 over the forecast period
The plate and screw fixation market dominated global cranio maxillofacial fixation devices market in terms of revenue in 2016, and the trend is projected to grow throughout the forecast period. Plate and screw fixation is the most attractive segment, estimated to record a market attractiveness index of 2.6 over the forecast period. Revenue from the thoracic fixation segment is anticipated to increase at a CAGR of 5.7% over 2017-2025, to reach US$ 85.9 Mn.