The global cranial fixation and stabilization systems market is expected to reach USD 1.74 billion by 2022 from USD 1.14 billion in 2017, at a CAGR of 8.7%. The increasing prevalence of neurological diseases and high incidence of road accidents and fall related injuries are the key drivers for the global cranial fixation and stabilization systems market.
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The cranial fixation and stabilization systems market is segmented on the basis of product, material type, end user, and region. By product, the market is segmented into cranial fixation systems and cranial stabilization systems. In 2017, the cranial fixation systems segment accounted for the largest share of the market and also the fastest-growing segment. The large share and high growth rate this segment is attributed to the availability of customized product offerings and the increasing adoption of cranial fixation systems by neurosurgeons.
The cranial fixation systems market, by material type is segmented into nonresorbable fixation systems and resorbable fixation systems. Nonresorbable fixation systems dominated the market in 2017. The large share of this segment is attributed to the large usage of nonresorbable fixation systems in neurosurgeries as these are more biocompatible and offer rigidity as well as stability to the cranial skeleton.
The cranial fixation and stabilization systems market is segmented into hospitals and ambulatory surgical centers. In 2017, the hospitals segment accounted for the largest share of the market, and it is expected to be the fastest growing during the forecast period. The large share of this segment is majorly attributed to the growing volume of surgical procedures performed in hospitals for traumatic brain injury.
Among the four regional segments covered in the cranial fixation and stabilization systems market—North America, Europe, Asia, and the Rest of the World (RoW), Asia is expected to grow at the highest CAGR during the forecast period. This can be attributed to factors such as the large population base in Asian countries, growing geriatric population, and increasing number of road accidents and fall related injuries which results in the increase in brain injuries. The increasing focus of prominent players in Asia is also supporting market growth in the region.
