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Cranial Fixation and Stabilization Devices Market Size
Cranial Fixation and Stabilization Devices Market size was valued at around USD 2.7 billion in 2023 and is anticipated to register of 8.8% CAGR from 2024 to 2032. This robust market growth can be attributed to factors such as the growing burden of the rising prevalence of neurological diseases coupled with the growing number of road accidents and sport-related injuries.
The primary catalyst for the growth of the market is the increasing incidence of neurological diseases globally. Neurological diseases, including traumatic brain injuries resulting from accidents, falls, or sports-related incidents, are on the rise. For instance, according to the UK Research and Innovation, in 2022, 10 million people are estimated to be affected annually by traumatic brain injury (TBI) around the world. Cranial fixation and stabilization devices are crucial in the surgical management of severe head injuries, supporting the skull and ensuring proper healing.
A cranial fixation and stabilization device is a medical apparatus designed to secure and immobilize the skull during surgical procedures or medical interventions involving the head and brain. These devices are crucial in neurosurgery and trauma cases where maintaining the stability of the skull is essential for the success of the procedure and the safety of the patient.
Why is the demand for cranial fixation systems rising?
The cranial fixation systems product type segment surpassed USD 1.9 billion in 2023 led by the rising incidence of chronic disorders, including congenital deformities, vascular malformations, and neurodegenerative diseases.
How big is the cranial fixation and stabilization devices market?
Cranial fixation and stabilization devices industry size was USD 2.7 billion in 2023 and is estimated to reach USD 5.8 billion by 2032 due to the growing burden of neurological diseases coupled with the surging number of road accidents and sport-related injuries.
Who are the major cranial fixation and stabilization devices industry players?
Some of the leading cranial fixation and stabilization devices providers are Acumed LLC, B. Braun Melsungen AG, evonos GmbH & Co. KG, Integra Lifesciences, Johnson & Johnson, KLS Martin Group, Medicon eG, Medtronic plc, Stryker Corporation, and Zimmer Biomet Holdings, Inc.
What is the value of the North America cranial fixation and stabilization devices market?
North America cranial fixation and stabilization devices industry size was USD 1.1 billion in revenue in 2023 and is predicted to witness substantial growth up to 2032 due to the increasing healthcare spending, government initiatives, and the growing aging population.