New York, Sept. 24, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Craniomaxillofacial (CMF) Devices And Equipment Global Market Report 2020-30: Covid 19 Impact and Recovery” – https://www.reportlinker.com/p05967815/?utm_source=GNW
2 billion in 2019 to $1.7 billion in 2020 at a compound annual growth rate (CAGR) of -19.9%. The decline is mainly due to COVID-19 outbreak and the measures to contain it. Several medical care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. The orthopedic surgeries have been postponed and in some cases cancelled due the nations lockdown. The restrictions on non-essential medical services including orthopedic services coupled with slowed production of orthopedic devices and implants due to extending factory closures in various countries is contributing to the markable decline in the market growth. The market is then expected to recover and grow at a CAGR of 6.3% from 2021 and reach $2.8 billion in 2023.
The craniomaxillofacial (CMF) devices and equipment market consists of sales of craniomaxillofacial (CMF) devices and equipment related services. Craniomaxillofacial is a special type of orthopedic surgery that focuses completely on the skull and facial disorders. This surgery is generally conducted for the treatment of severe cranial and facial bone injuries. Based on the product type, CMF devices are classified into – Cranial flap fixation, CMF distraction, temporomandibular joint replacement, thoracic fixation, bone graft substitute and MF plate and screw fixation.
North America was the largest region in the craniomaxillofacial (CMF) devices and equipment market in 2016. This region is expected to remain the largest during the next five years. The CMF devices and equipment market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
EU Medical Devices Regulation (MDR 2017/745) has replaced 2 existing directives. The implementation of new regulations will be completed within 3 years of transition period ending in 2020. CMF devices and equipment are considered as a part of medical devices listed in the EU Medical Devices Regulations, the CMF devices and equipment manufacturers need to maintain a unique device identity to improve device traceability, include aesthetic devices that have same characteristics and risks profile as that of analogous medical devices. Also, the management system standard for medical device – ISO 13485 has been updated. The regulation also directs the manufacturers to introduce implant card for every implant medical device containing its information.
The high cost of surgery is the restraint for the craniomaxillofacial (CMF) devices and equipment market. High cost of the surgery, made it less affordable it becomes for the patients, affecting the demand for CMF devices and equipment. For example, an orthognathic surgery (a jaw corrective surgery) cost in the United States is around $20,000-$40,000.
The trend of usage of 3D Printing technology is on the rise in the craniomaxillofacial (CMF) devices and equipment market. 3D Printing technology is a process of making complex structures which are built by stacking up thin layers on one another and cutting out complex edges. The use of 3D biomedical models during cranial and maxillofacial reconstructive surgery is extremely useful. The 3D models would help in preoperative planning by using 3D biomodeling technique. For example, Reninshaw Company has manufactured LaserImplants that are 3D Printed metal CMF patient specific implants having high strength and flexibility.
The rise in demand of reconstructive surgery is the driving force for craniomaxillofacial (CMF) devices and equipment market. The demand for reconstructive surgery is attributed to the growing trend of cosmetic treatment amongst millennials. The procedure required to carry out a cosmetic treatment needs CMF devices and equipment. Hence, the demand for craniomaxillofacial devices and equipment increases. For example, according to a report by American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS), a rise of 47% has been observed for cosmetic procedures since 2013.
Read the full report: https://www.reportlinker.com/p05967815/?utm_source=GNW
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