Cranial Fixation and Stabilization Systems Market Size

Cranial Fixation & Stabilization Systems Market Analysis

The cranial fixation and stabilization systems market is expected to register a CAGR of 8.7% during the forecast period.

Patients with long-term neurological disorders were severely impacted as the SARS-CoV-2 infection worsened when it was associated with neurological and neuropsychiatric illness. Neurological surgeries were delayed or postponed during COVID-19, adversely impacting the market studied in its initial phase. For instance, according to the study published in the Acta Neurochirurgica in November 2021, amid the pandemic, there was a 33.6% decrease in neurosurgical emergency referrals and a 55.6% decrease in operations. Thus, decreasing the demand for cranial fixation and stabilization systems among the patient population. However, the market is gradually stabilizing as COVID-19 cases are declining resulting in the return of the normal demand levels for cranial fixation and stabilization systems. Thus, there is a significant impact on the cranial fixation and stabilization systems market over the forecast period.

The increasing prevalence of neurological diseases, increasing incidence of road accidents and injuries, and technological advancements in the field of cranial fixation and stabilization systems are attributed to driving the growth of the market over the forecast period. For instance, the Alzheimer's Association Report updated in June 2022 stated an estimated 6.2 million people might have Alzheimer's disease in the United States, and nearly a million Americans are living with Parkinson's disease. Additionally, according to the WHO, in June 2022, approximately 1.3 million people died in road accidents. Between 20 and 50 million people suffer from non-fatal injuries, with many incurring disabilities due to their injuries. Such injuries may result in an increased demand for cranial fixation procedures since these devices offer greater precision by immobilizing the main structures within the skull.

Additionally, the approval from the regulatory authorities is also propelling the growth of the market. For instance, in October 2021, OssDsign received expanded market clearance from the US FDA for OssDsign Cranial PSI, a patient-specific cranial implant. Such development is expected to drive the growth of the market.

Therefore, the factors such as increasing prevalence of neurological diseases, increasing incidence of road accidents and injuries, and technological advancements in the field of cranial fixation and stabilization systems are attributed collectively to the studied market growth over the forecast period. However high cost of surgeries is expected to hinder market growth over the forecast period.