The craniomaxillofacial devices market is projected to observe tremendous growth owing to the increasing number of craniofacial injuries and fractures being encountered throughout the world. In fact, according to the World Health Organization, globally, about 20 to 50 million people suffer from non-fatal injuries, which leads to disability among a majority of victims. With increasing disposable income levels and growing adoption of recreational sports activities, the prevalence of sports injuries has increased tremendously across the globe, which should majorly impel the industry size through 2026. In fact, according to Johns Hopkins Medicine, in the U.S., annually, approximately 3.5 million children aged 14 years and below, get injured while playing sports.
In addition, an upsurge in the demand and preference for minimally invasive surgical procedures should majorly propel the need for craniomaxillofacial devices over the coming years. According to a Global Market Insights Inc., research report, the CMF (craniomaxillofacial devices) market is likely to surpass a valuation of $2.2 billion by 2026.
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With respect to application, the market landscape is classified in terms of plastic surgery, trauma reconstruction surgery, and orthognathic surgery. Among these, in 2019, the plastic surgery segment witnessed a valuation of $300 million. Increasing demand and use of craniomaxillofacial devices for plastic surgeries such as rhinoplasty is majorly driving the product adoption, thereby augmenting the segment size. Today, most of the global population is concerned about maintaining acceptable facial aesthetics and are increasingly leaning towards the adoption of surgical procedures to treat any facial defects. Typically, plastic surgery is done to remedy segmental bone defects, which is increasing its application scope and the overall market share.
Meanwhile, in terms of end-use, the industry is bifurcated into ambulatory surgery centers, hospitals, and other end users. An upsurge in the number of hospitals that are equipped with cutting-edge facilities is slated to propel the hospital end-use segment over the coming years. In addition, an increasing number of craniomaxillofacial surgeons as well as a growing number of people opting for craniomaxillofacial surgeries should positively impel the overall segment share. An upsurge in government expenditure towards healthcare is considered another prime factor that would stimulate the craniomaxillofacial devices market trends through 2026. The hospital segment is projected to expand at a CAGR of approximately 6.6% through the analysis period.
The APAC craniomaxillofacial devices market is projected to witness tremendous growth led by China. In fact, the regional industry in China is estimated to expand at a momentous rate of 12.5% through the analysis period. This growth rate is ascribed to the rising number of road accidents in the region. As per recent reports released by a research article, more than 250,000 road accidents occur annually in China. This increase in accidents is leading to a growing number of craniomaxillofacial trauma injuries, which is driving the demand for more trauma surgeries, which should further augment the adoption of craniomaxillofacial devices across China.
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Meanwhile, the North America craniomaxillofacial devices market is set to witness momentous growth owing to the increasing adoption of plastic surgeries in the region. In fact, according to the International Society of Aesthetic Plastic Surgery (ISAPA), the U.S. tops the list of countries with the highest number of plastic surgeries performed. Meanwhile, according to per capita plastic surgery procedures, South Korea, Greece, Italy, Brazil, and Colombia are the top five nations that lead the world in the number of plastic surgery procedures in terms of per-capita. These regional aspects are likely to majorly shape the overall craniomaxillofacial devices market outlook over the coming years.
The competitive landscape of the craniomaxillofacial devices industry is inclusive of players such as Aesculap Implant Systems, Integra LifeSciences, TMJ Concepts, OsteoMed, KLS Martin, Johnson & Johnson, Stryker, and Medartis among others.
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