Market Trends of Global Cranial Implants Industry
This section covers the major market trends shaping the Cranial Implants Market according to our research experts:
Customized Cranial Implants is Expected to Hold the Major Market Share in the Cranial Implants Market
The customized cranial implants are expected to account for the largest share of the cranial implants market in the forecasted period owing to their ability to meet the patient's specific needs by customizing the implants based on the injuries or defects, thereby reducing the risk of infection. There is also increasing approval of new products by the United States Food and Drug Administration that drives critical players to launch customized cranial implants with technological advancements in the market, which fuels the growth of the segment.
There are increased research and developments carried out in improving the customization for cranial implants, which boosts the market growth. For instance, the article published in 2022 under the title "Adaptive Mechanism for Designing a Personalized Cranial Implant and Its 3D Printing Using PEEK" stated that by using a newly developed hybrid technique, it is anticipated to be possible to create perfect cranial implants that are specific to each patient's problem. The implant is made of polyetheretherketone (PEEK), which is a suitable substitute for titanium implants for customized implants and is easier to use, lighter, and robust enough to protect the brain. Furthermore, the presence of competitors, mergers, acquisitions and new product launches fuels the market growth. For instance, in June 2022, OssDsign AB announced that the company has completed its first sales of OssDsign Cranial PSI in Japan. The launch marks an important strategic milestone, following a period of postponed commercial activities due to the Covid-19 pandemic. OssDsign Cranial PSI is a patient-specific cranial implant made from 3D printed medical-grade titanium covered by a regenerative calcium phosphate composition.
Due to the aforementioned factors, customized cranial implants are likely to witness growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America has been the primary market for cranial implants, owing to the rise in the number of brain tumor cases and an increase in the adoption of advanced technologies. For instance, as per the 2022 report from Cancer.net, approximately 5,900 brain and other CNS tumors are anticipated to be diagnosed in children ages 0 to 19 in the United States. After leukemia, brain and other CNS tumors are the second most common childhood cancers, accounting for about 26% of cancer in children younger than 15 and 21% of cancer in teens ages 15 to 19 in the United States.
Furthermore, the presence of competitors, product launches, and acquisitions boost the market studied in the North American region. For instance, in April 2021, the United States Food and Drug Administration (FDA) cleared a brain implant from Longeviti Neuro Solutions that enables clinicians to capture images of the brain after surgery. The Longeviti ClearFit implant is a neuro reconstructive implant that surgeons use to reconstruct a patient's cranium.
As per the factors mentioned above North America is likely to face growth over the forecast period.
