Cranial Fixation And Stabilization Devices Market Size, Share, Opportunities, COVID-19 Impact And Trends By Product (Cranial Fixation Device, Cranial Stabilization Devices), By End-User (Hospitals, Ambulatory Surgical Centers), And By Geography - Forecasts From 2021 To 2026

The cranial fixation and stabilization device market are projected to grow at a CAGR of 4.22% during the forecast period to reach US$1.907 billion by 2026 from US$1.428 billion in 2019. Cranial fixation and stabilization devices are used in the healthcare industry for the treatment of neuro disorders and diseases. This includes spinal disorders, neuro-oncology, transnasal skull-based surgery, pelvis or trauma, neurovascular diseases, and others. The prime reason driving the market growth is the rising number of neuro diseases and disorders, in absolute numbers. With growing geriatric populations, the prevalence of neuro-linked disorders, diseases, and deaths have increased significantly. Further, neuro diseases such as Parkinson’s disease are growing at a noteworthy rate. Growing severe accidents and fall incidence is projected to increase the demand for cranial fixation and stabilization devices during the forecasted period. However, lack of proper healthcare, particularly in the low- and middle-income countries, and high operational costs have the potential to hinder the market growth.

Rising instances of neurological diseases are forecasted to expand the market size for the cranial fixation and stabilization industry.

The key factor driving the market growth is growing instances of neurological diseases and disorders. While studies show that the prevalence of diseases has decreased in relative terms, in absolute terms, the population impacted by neuro diseases and disorders has increased significantly. Strokes, Alzheimer's diseases, and other dementias, and migraines are leading neurological diseases and disorders that are most prevalent and cause the largest neuro-linked deaths. Neuro diseases were found to be the leading cause of disability-adjusted life years (DALYs), affecting more than 276 million people, and were the second leading cause of death, in 2016, killing more than 9 million people. Data from Institute for Health Metrics and Evaluation (IHME), further states in its study that deaths and DALYs due to neurological disorders increased by 39% and 15%, respectively, during the past 2 decades. However, the age standardization of deaths and DALYs decreased by 28% and 27%, respectively during the same period.

Nevertheless, the burden of neuro diseases and disorders is increasing at a significant level, raising concerns for government and healthcare institutions. The only neurological diseases that decrease in absolute numbers, deaths, and DALYs, are tetanus, meningitis, and encephalitis. Rest all other diseases have been growing at caution rates. To deal with the growing prevalence, the government has invested significantly in the healthcare sector. 

The growing aged population is predicted to increases the cases and risk of neuro diseases which will drive the market growth.

Another prime factor that supports the market growth during the forecasted period is the rising aged population in the global demography. As per statistics provided by the United Nations, the population aged 65 and above increased from 6% in 1990 to 9% in 2019, accounting for 703 million people. However, it is forecasted that this statistic will double to 1.5 billion by end of 2050. Aged people are more prone to neuro diseases and disorders because of weak cells and low immunity. Further, the rising prevalence of chronic diseases makes a patient more exposed to neuro diseases. However, the increased aged population is projected to increase the demand for better healthcare which will drive the market growth of the cranial fixation and stabilization industry.

The rising prevalence of neuro diseases in the USA and increased government expenditure on the healthcare industry is estimated to increase USA cranial fixation and stabilization market share in the overall industry.

A study conducted by JAMA Neurology in USA, 2017, to observe the Burden of diseases found that neuro diseases were one of the leading causes of death in the states. Under the study, it was discovered that the three most burdensome neuro diseases/ disorders were strokes, Alzheimer’s disease, and migraine. There DALYs were 3.58 million, 2.55 million, and 2.4 million, respectively. The study concluded that neurological diseases were growing in the country at a quadruple rate and have increased the threat of life significantly. The prime reason for increasing the cases was found to be the surging aged population. In the USA, the population aged 65 and above accounts for 16.9% of total demography, in 2020. However, it is anticipated that this group will account for over 22% of the population in 2050. The rising prevalence of chronic diseases, especially cardiovascular diseases increase the risk and severity of neurological diseases. The only exception neuro diseases were traumatic brain injury incidence, spinal cord injury prevalence, and meningitis prevalence.  

However, the USA has a state-of-art healthcare infrastructure facility that will support the market for cranial fixation and stabilization market. The government invests 17.7% of its GDP in the healthcare sector, which is forecasted to grow to 19.1% of GDP by 2030. Rising investment by the government sector to reduce the risk of diseases and loss of life is projected to drive market growth. Furthermore, early adoption of technology coupled with a skilled labor force will support the market growth. 

Cranial Fixation and Stabilization Devices Market Scope:

Report Metric	Details
Market size value in 2019	US$1.428 billion
Market size value in 2026	US$1.907 billion
Growth Rate	CAGR of 4.22% from 2019 to 2026
Base year	2019
Forecast period	2021–2026
Forecast Unit (Value)	USD Billion
Segments covered	Product, End-User, And Geography
Regions covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered	Stryker, Zimmer Biomet, KLS Martin Group, Medtronic,   Changzhou Huida Medical   Instrument Co. Ltd., B.   Braun  Melsungen AG, Evonos GmbH & Co. KG,   MatrixNEURO,   Osteomed, Medicaon Surgical Inc.
Customization scope	Free report customization with purchase

 

Key Market Segments

• By Product
  • Cranial Fixation Devices
  • Cranial Stabilization Devices
• By End-User
  • Hospitals
  • Ambulatory Surgical Centers
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Taiwan
    • Indonesia
    • Others

---

Frequently Asked Questions (FAQs)

Q1. What is the size of global cranial fixation and stabilization device market?
A1. Cranial Fixation And Stabilization Devices Market were valued at US$1.428 billion in 2019.

Q2. What will be the cranial fixation and stabilization device market size by 2026?
A2. The cranial fixation and stabilization device market are projected to reach a total market size of US$1.907 billion by 2026.

Q3. What are the growth prospects for the cranial fixation and stabilization device market?
A3. The global cranial fixation and stabilization device market are projected to grow at a CAGR of 4.22% during the forecast period.

Q4. What factors are anticipated to drive the cranial fixation and stabilization device market growth?
A4. The prime reason driving the cranial fixation and stabilization device market growth is the rising number of neuro diseases and disorders, in absolute numbers.

Q5. How is the global cranial fixation and stabilization device market segmented?
A5. The cranial fixation and stabilization device market have been segmented based on product, end-user, and geography.

---