The global Cranial Implants market size is expected to be worth around US$ 1.70 billion by 2028, according to a new report by Vision Research Reports.
The global Cranial Implants market size was valued at US$ 0.9918 billion in 2020 and is anticipated to grow at a CAGR of 6.8% during forecast period 2021 to 2028.
Increasing cases of brain cancer and traumas such as malignant brain tumor is anticipated to boost the growth. For instance, according to the American Cancer Society, in 2019, 23,820 people were diagnosed with brain tumor.
One of the major causes of brain tumor is abnormal changes that occur in normal brain cells that may lead to formation of brain tumors. Brain tumor is classified into benign which is non-cancerous and malignant tumors which are cancerous. Prevalence of malignant tumor is witnessing a rise in U.S. owing to the factors such as unhealthy lifestyle and genetic disorders.
Technological advancements such as 3D printing, cranial implant fabrication through computer aided design/computer aided manufacturing modeling, regeneration of larger bone defects through tissue engineering therapies plays a vital role in fueling market growth. For instance, Renishaw plc, launched its metal 3D printing craniomaxillofacial implants which produces complex shapes that are not possible with traditional machining method.
Customized cranial implants segment is expected to lead the market during the forecast period owing to the rising preference for the product by the surgeons as every skull injury is different and requires specific implants. Increasing prevalence of brain tumors owing to genetic disorders and unhealthy lifestyles coupled with increasing injuries, wounds, and road accidents are expected to drive the demand, thereby influencing the segment growth.
Manufacturers of customized cranial implants are focusing on collaborations with the surgeons to increase their customer base and to strengthen their market presence. Such initiatives coupled with the presence of well-established and skilled practitioners in developed economies is expected to further drive the demand.
Technology advancements, such as introduction of 3D printing with original multilayer technology is anticipated to offer lucrative opportunities. For instance, Stryker in collaboration with surgeon of Johns Hopkins Hospital developed host bone model made using 3D printing technology. This model helps orient the implant and allows the surgeons in planning the surgery before the actual operation.
Polymer material is expected to hold the maximum share of the cranial implants market over the forecast period. Polymer is the most frequently used material. It is provided as powder and liquid that are combined to fit into the contours of the cranial defects during the surgery.
Ceramic material segment is expected to register the highest CAGR during the forecast period. Application of light and sound to the brain have important therapeutic and diagnostic benefits. Ultrasound is the good therapy for the neurological diseases such as Alzheimer’s and Parkinson’s disease. However, material of cranial implants restricts the benefits. Ceramic cranial implant is able to transmit light and ultrasound to the brain. Thus, driving the market growth.
Neurosurgery centers is the fastest growing segment owing to the specialized and customized treatment of the patients. Furthermore, better outcome of results in comparison to hospitals is also increasing the demand for neurosurgery centers. In addition, neurosurgery centers ensure that the patients receive personalized treatment with improved patient experience.
Hospital is the leading segment due to the availability of skilled neurosurgeons and increasing disposable income of the individuals. Hospitals have neurological surgery departments with dedicated specialists. Mostly brain injuries, defects, and traumas require several treatment sessions, which is anticipated to propel the segment growth. Cranioplasty is one of major surgeries taking place in Neurosurgical Intensive Care Unit (NCCU). Also, improving healthcare infrastructure in developing countries and growing adoption of advanced products are expected to drive the growth.
North America accounted for the largest market share in 2020 and is expected to continue witnessing substantial growth in near future due to prevalence of trauma and brain cancer, adoption of technologically advanced products, and increasing healthcare spending by the regional governments.
Asia Pacific is expected to expand at the highest CAGR due to increasing cases of neurological disorders coupled with rise in government initiatives and awareness programs by the NGOs. Presence of a large number of industry players in economies, such as Japan, China, and India is majorly driving the growth. In addition, increasing cases of cancer is another key driver.
B. Braun Melsungen AG; DePuy Synthes (Johnson and Johnson); Stryker Corporation; Zimmer Biomet; Osteomed; Synimed; Evonos; Medartis AG; Renishaw Plc; and Kelyiniam Global Inc.
Middle East and Africa (MEA)
The Cranial Implants market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Cranial Implants market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Cranial Implants market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cranial Implants market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Cranial Implants market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Cranial Implants capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Cranial Implants by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Cranial Implants market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Cranial Implants market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Cranial Implants market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Cranial Implants industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Cranial Implants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Cranial Implants market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Cranial Implants market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Cranial Implants market. These factors have benefited the growth of the global market for Cranial Implants. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Cranial Implants. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Cranial Implants are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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