• The global cranial stabilization devices market is projected to register a CAGR of 5.3% in terms of value during the forecast period (2017–2027) and be valued at US$ 792.8 Mn by 2027
• On the basis of product type, brain retractor system segment accounted for 41.9% market share in 2016, which is expected to decrease to 41.5% by 2027 end. This segment is expected to accounts for large revenue contribution to the global cranial stabilization devices market as compared to other segments over the forecast period
• By end user, hospitals segment accounted for 58.3% value share and was valued at US$ 263.4 Mn in 2016
• The APEJ cranial stabilization devices market revenue is expected to expand at a significant CAGR of 6.0% in terms of value over the forecast period
Drivers:
• Advancements in Neurosciences
• Favorable Reimbursement for Neurology Treatments
• Increasing Incidences of Neurological Disorders
• Growing Focus On Containment of Healthcare Costs
• Safety Legislations
• Favorable Government Policies for Startup Companies
• Increasing Incidences of CNS disorders among Ageing Population
• Distribution & Collaboration Agreements to Increase Product Reach
Trends:
• Steady Rise in Neurosurgical Procedures
• Consolidated Market with Definite Market Leader
• Preference for the Branded Products
• Increasing Awareness Regarding Regulatory Issues
Restraints:
• Lack of Proper Healthcare Infrastructure in Emerging Markets
• Inadequate Reimbursement Coverage in Non-developing Countries
• Product Recalls and Safety Concerns
• Dearth of Trained and skilled specialists and professionals
Overall Market Approach:
• Companies focus on new product launches and reducing the costs of cranial stabilization devices in order to gain maximum market share
• Acquisition, mergers, strategic collaborations, technology plays a vital role in the growth of cranial stabilization devices market
• Need to efficiently meet requirements of various end users, and ensuring supply of the required products, as quality and positive outcome are of utmost importance to end user industry
Key Segment:
• By product type, brain retractor system segment is expected to witness a significant rise in revenue share over the forecast period, owing to increasing demand of advanced integrated system for
cranial stabilization compared to stand alone cranial stabilization devices
Target Countries:
• APEJ represents the most lucrative market, followed by MEA and North America
• The hospitals and specialized centers in APEJ are expected to witness comparatively significant growth due to increasing demand of advanced cranial stabilization devices and developing medical infrastructure in the region
Differentiating Strategy:
• Acquisitions, mergers, expansion and product launches are the key strategies adopted by manufacturers and integrators for technology transfer and to increase consumer base in different geographies
Source: futuremarketinsights.com
