New York, March 13, 2023 (GLOBE NEWSWIRE) -- The global dural graft market estimates for 2023 is around US$ 794.1 Million And The global is set to reach a revenue of US$ 1.37 Billion by the end of 2033. Sales of the market are set to witness growth at a CAGR of 5.7% between 2023 and 2033.
The increasing prevalence of neurological disorders, such as brain tumors, traumatic brain injuries, and spinal cord injuries, is a significant driver of market growth. Additionally, the rising adoption of minimally invasive surgeries, advancements in surgical techniques, and the growing geriatric population are also contributing to the growth of the dural graft market.
Dural grafts are medical implants that are used to cover and protect the dura mater, the tough outermost layer of the meninges that surround the brain and spinal cord. These grafts are commonly used in neurosurgery to repair defects or injuries to the dura mater. The global dural graft market is expected to grow at a significant rate due to the increasing incidence of neurological disorders and the growing demand for minimally invasive surgeries.
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Dural Graft Market Stategies
- Product innovation: Companies can invest in research and development to create new and innovative dural graft products that are more effective, efficient, and safe. By launching new products, companies can attract more customers and increase their market share.
- Strategic partnerships and collaborations: Companies can form strategic partnerships and collaborations with other companies, healthcare institutions, and research organizations to share knowledge, resources, and expertise. This can help them to develop better products, expand their market reach, and increase their customer base.
- Mergers and acquisitions: Companies can acquire other companies or merge with them to consolidate their market position and increase their market share. By acquiring smaller companies, they can gain access to new products, technologies, and markets.
- Geographical expansion: Companies can expand their operations in new geographical regions to tap into new markets and increase their customer base. This can be achieved through partnerships with local companies or by establishing their own subsidiaries.
- Marketing and promotional activities: Companies can invest in marketing and promotional activities to create brand awareness and promote their products. This can be done through various channels such as social media, advertisements, and trade shows.
Competition Landscape
- Cook Medical
- Intefra Lifesciences Corporation
- B Braun
- Cousin Biotech
- Natus Medical Incorporated
- Tissuemed Ltd
- Vostra Gmbh
- Stryker Corporation
- Medtronic Plc
- Johnson & Johnson
- Baxter International Inc
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Some key instances of development include:
- Baxter International Inc’s bone graft substitute named Altapore Shape Bioactive Bone Graft received FDA approval on July 2020
- B. Braun Medical Inc. (B. Braun) collaborated with Association for Vascular Access (AVA) and launched the Fundamentals of Peripheral IV Access eLearning Program on Sept 29 2022. This is an extensive eLearning curriculum concentrating on fundamental, intermediate, and advanced ideas in vascular access and patient outcomes.
Market Segmentation
The global dural graft market can be segmented based on product type, application, end-user, and geography.
- Based on product type, the market can be segmented into synthetic dural grafts and biological dural grafts. The biological dural grafts segment is expected to hold the largest share of the market due to their biocompatibility, effectiveness, and lower risk of complications.
- Based on application, the market can be segmented into dural repair and dural reconstruction. The dural repair segment is expected to hold the largest share of the market due to the increasing incidence of traumatic brain injuries and brain tumors.
- Based on end-user, the market can be segmented into hospitals, ambulatory surgical centers, and specialty clinics. The hospital segment is expected to hold the largest share of the market due to the increasing number of neurosurgical procedures performed in hospitals.
- Geographically, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share of the market due to the high prevalence of neurological disorders, increasing healthcare expenditure, and the presence of major market players in the region.
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Dural Graft Market Opportunities –
- Increasing incidence of neurological disorders: The growing prevalence of neurological disorders such as brain tumors, traumatic brain injuries, and spinal cord injuries is driving demand for dural grafts. As the aging population grows, the incidence of these conditions is expected to increase, creating a larger market for dural grafts.
- Technological advancements in dural grafts: Recent technological advancements in dural grafts have improved their safety, efficacy, and biocompatibility, making them more suitable for use in a wider range of patients. The development of new materials and manufacturing techniques has also made dural grafts more accessible and cost-effective.
- Growing demand for minimally invasive procedures: Minimally invasive procedures are becoming increasingly popular as they offer shorter recovery times and fewer complications than traditional surgeries. Dural grafts are an essential component of many minimally invasive neurosurgical procedures, which is expected to drive demand for these products.
- Increased government funding for research: Government funding for research in the field of neuroscience has increased in recent years, leading to the development of new techniques and devices for neurosurgery. This is expected to drive demand for dural grafts as more patients are able to undergo successful surgeries.
- Growing healthcare expenditure: As healthcare expenditure continues to increase globally, there is an opportunity for growth in the dural graft market. This trend is expected to continue as healthcare systems prioritize spending on innovative medical devices and technologies.
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