High prevalence of incidences of congenital facial deformities, increasing awareness about minimally invasive techniques, escalation in the number of injuries due to road accidents and other traumas, various technological advancements in the field of Craniomaxillofacial Implants are key factors contributing to high CAGR in the forecast period.
Market Size – USD 1.93 Billion in 2018, Market Growth – CAGR of 6.8%, Market Trends– Advancements in Craniomaxillofacial Implants platform and improved regulations for Surgical Procedures.
According to the current analysis of Reports and Data, the global Craniomaxillofacial Implants market was valued at USD 1.93 billion in 2018 and is expected to reach USD 3.29 billion by the year 2026, at a CAGR of 6.8 %. Craniomaxillofacial Implants are the medical accessories that are embedded for the injuries, diseases, congenital facial disorders in the head, neck, jaw, and face, hence treating the deformed site. According to the Association for Safe International Road Travel, about 20-30 million get injured or disabled in road accidents, which is amongst the key driving factors for the Craniomaxillofacial Implants. The material of manufacturing the Implants has now been improved, such that they can be contoured easily. For instance, biomaterials and other polymers. The rise in the road accidents and traumas, hike in the sports injuries, increasing prevalence of congenital facial disorders (for instance, Cleft lip or palate) are the factors that are expected to be responsible for fueling the growth of the market. According to the World Health Organization, an oral cleft is observed in approximately 1 in every 700 live births in the United States of America.
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Furthermore, the increasing need to experience better aesthetics, growing demand for minimally invasive procedures across the globe is the primary factor that fosters the growth of the Craniomaxillofacial Implants market. There are various technological advancements in the field of medical devices such as autoclavable cleft, which is expected to boost the market. Moreover, in June 2019, Stryker announced that it is to invest over €200 million in Research, Development, and Innovation (RD&I) projects to deliver next-generation products and services across its medical, surgical, and orthopedic.
However, the major challenge faced includes, high cost of the Craniomaxillofacial surgeries, expensive implants, when embedded for long term use, make it unaffordable for the low-income population. The rising incidences of product recall, increase in the infections caused due to implants due to hygiene conditions, stringent regulations of the government, and implications associated with the surgical procedure are expected to hamper the market growth for Craniomaxillofacial Implants.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the Craniomaxillofacial Implants market on the basis of type, material, resorbing – ability, location, application, end-use and region:
Type Outlook (Revenue in Million USD; 2016–2026)
Material Type Outlook (Revenue in Million USD; 2016–2026)
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Resorbing – ability Outlook (Revenue in Million USD; 2016–2026)
Location Outlook (Revenue in Million USD; 2016–2026)
Application Outlook (Revenue in Million USD; 2016–2026)
End-Use Outlook (Revenue in Million USD; 2016–2026)
Regional Outlook (Revenue in Million USD; 2016–2026)
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