The global cranial fixation and stabilization systems market is forecast to grow at a CAGR of 8.7% during the forecast period 2019 to 2024. The cranial fixation and stabilization systems markets has a developing potential owing to the increasing prevalence of neurological diseases. The major factors driving the market are, rising prevalence of road accidents and fall related injuries. However, the prominent factors restraining the market growth is the lack of expertise and high competition.
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Based on product type, the global and stabilization systems market is categorised into cranial fixation systems and cranial stabilization systems. The cranial fixation system is further divided into screws, plates, flap tube clamps and meshes. Cranial stabilization systems are sub segmented into skull clamps, horseshoe headrests and accessories. The cranial fixation system dominates the market and is expected to retain the position during the forecast period. The high growth is primarily attributed to increasing demand of cranial fixation system in the neurological field and innovative products offered by prominent players in the market.
By material type, the global cranial fixation and stabilization systems is bifurcated into non resorbable and resorbable. The non-resorbable segment is projected to grow at high pace during the forecast period, owing to the qualities of non-resorbable like biocompatibility, rigidity, stability to the cranial skeleton and technological advancement in the field of cranial fixation & stabilization.
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Based on end user, the global cranial fixation and stabilization systems market is segmented into hospitals and ambulatory surgical centres. The hospitals segment is expected grow at the highest CAGR during the forecast period owing to services full range of services provided from surgery to intensive care and rising number of neurological surgeries performed in the hospital.
By geography, cranial fixation and stabilization systems market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. The North America is expected to grow at the highest CAGR over the projected period followed by Europe. The key driving factors leading to the considerable growth is the presence of leading cranial fixation and stabilization system manufacturers in the region. Furthermore, Asia pacific is expected to reach the highest CAGR during the forecast period owing to rising health expenditure, increasing number of road accidents and brain injuries.
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The key participants in the cranial fixation and stabilization systems market: are Stryker Corp, Integra Lifesciences, Zimmer Biomet, KLS Martin, B. Braun, Medtronic, Osteomed (Subsidiary of Colson Associates), Micromar, Changzhou Huida, Pro Med Instruments, Medicon, Jeil Medical, Evonos, Neos Surgery, etc. Product development and new product launches are the key growth strategies adopted by major players to reinforce their positions in the international market. Furthermore, strategies such as partnership and mergers were also implemented by numerous market players to expand their R&D competences and geographic presence in the global market.
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