US Market for CranioMaxilloFacial (CMF) Devices Will Grow at CAGR of 6.4% to Reach $1.24 Billion by 2020

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Dec 16, 2014, 14:45 ET

United States (PRWEB) December 17, 2014 -- The US market for craniomaxillofacial (CMF) devices was valued at $803.5 million in 2013 and will expand at a Compound Annual Growth Rate (CAGR) of 6.4% to reach just under $1.24 billion by 2020. Reportstack's latest report on Craniomaxillofacial Devices Market - US and 5EU Analysis and Market Forecasts states that while most orthopedic markets were hit hard by the economic downturn in the past five years, the CMF space, which covers plate and screw fixation, distraction, cranial flap fixation, temporomandibular joint (TMJ) replacement, CMF bone graft substitutes, and thoracic fixation, will witness stable growth over the forecast period.

Complete report is available at http://www.reportstack.com/product/187601/medipoint-craniomaxillofacial-devices-us-and-5eu-analysis-and-market-forecasts.html

Linda Tian, MSc, GlobalData’s Analyst covering Medical Devices, says: “Lingering economic concerns in the US have significantly impacted hospital budgets and resulted in downward pricing pressures, limiting market growth.

“US healthcare providers and regulatory authorities are implementing cost-containment policies, incorporating so-called ‘appropriateness criteria’ into treatment guidelines. This leads to the delayed adoption of premium CMF devices, such as patient-specific implants.”

Despite this, GlobalData expects that heightened patient awareness, coupled with the supply side’s efforts in product line extensions and medical training, will help to accelerate US surgeons’ adoption of advanced technologies, such as virtual surgical planning for reconstructive and orthognathic surgeries.

Tian continues: “The US is a particularly lucrative market due to increasingly higher CMF procedure volumes, boosted by the non-elective nature of a significant portion of CMF surgeries.

“Besides increased patient awareness, key drivers of this include a trend towards early surgical intervention in younger patients, expanded insurance coverage under the Affordable Care Act, and domestic manufacturers’ continuous implant innovations.”

Of the various available technologies, CMF plate and screw fixation devices will remain the largest contributors to the US market, with their value forecast to rise from $587 million in 2013 to just over $895 million by 2020, representing a CAGR of 6.2%.

Mergers and Acquisitions/Key Partnerships:

  • Materialise Acquired OrthoView Holdings for $13.6m (Oct, 2014)
  • DePuy Synthes Entered into a Co-Development Agreement with Tissue Regeneration Systems (June, 2014)
  • Medtronic to Merge with Covidien in Transaction Valued at $42.9m (June, 2014)
  • Zimmer to Combine with Biomet in Transaction Valued at $13.35 Billion (April, 2014)
  • 3D Systems Acquired Medical Modeling (April, 2014)
  • KLS Martin LP to Distribute NEOS Surgery’s Cranial LOOP Family (November, 2013)
  • Integra LifeSciences Acquired DuraSeal Product Lines from Covidien for $235m (October, 2013)
  • Biomet to Distribute Oxford Performance Materials’ OsteoFab Product Line (April, 2013)
  • Johnson & Johnson Acquired Synthes for $19.7 Billion (June, 2012)
  • Tissuemed Stopped Co-Marketing Agreement with Medtronic (June, 2012)
  • Baxter International Acquired Synovis Life Technologies (December, 2011)
  • Stryker Acquired Orthovita for $316m (May, 2011)
  • Synthes Partnered with Materialise in CMF Surgery (March, 2011)

DePuy Synthes, KLS Martin Group, Medartis, OsteoMed, Stryker, Zimmer-Biomet, Aesculap, Gore Medical, Integra LifeSciences, Medtronic-Covidien are some of the companies mentioned in this report.

For more details and table of contents of this market research report, please visit Craniomaxillofacial Devices Market Forecasts report.

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