PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532810
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532810
Dura Substitutes Market was valued at USD 251.90 million in 2023, expanding at a CAGR of 5.90% from 2024 to 2032.
Dural substitutes are commonly known as medical materials or implants utilized for the replacement or repair of the Dura mater, the resilient outer membrane that envelops the brain and spinal cord. These substitutes are employed in neurosurgical operations when the original Dura mater is compromised or requires strengthening as a result of injury, illness, or surgical procedures. The primary advantage of utilizing a Dural substitute is its resemblance to the patient's own Dura and its capacity to assimilate and merge with the surrounding tissue. Opting for a Dural graft may be more favorable than utilizing alternatives sourced from the patient's own body.
Dura Substitutes Market- Market Dynamics
The increasing prevalence of neurological disorders such as traumatic brain injuries and tumors is anticipated to drive the growth of the market
The aging global population and changing lifestyles have led to an increase in neurological disorders such as traumatic brain injuries (TBIs), tumors, and other conditions that may require surgical intervention involving the Dura mater. A recent study published by The Lancet Neurology reveals that, in 2021, over 3 billion people worldwide were living with a neurological condition. The study also highlights that more than 80% of neurological deaths and health loss occur in low- and middle-income countries, with significant disparities in access to treatment compared to high-income countries. Additionally, the market for medical devices may experience growth opportunities due to supportive regulatory environments and streamlined approval processes in many regions, although the high cost of treatment could hinder market growth.
Dura Substitutes Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.90% over the forecast period (2024-2032)
Based on Material segmentation, Synthetic Grafts was predicted to show maximum market share in the year 2023
Based on Application segmentation, Neurosurgery was the leading Material in 2023
Based on End-User segmentation, Hospitals were the leading Material in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Dura Substitutes Market is segmented based on Material, Application, End-User, and Region.
The market is segmented into two categories according to Material: Biological Grafts and Synthetic Grafts. Synthetic Grafts are the dominant force in the market. They are utilized in a variety of surgical procedures to substitute or mend injured tissues or organs. They are frequently employed in cardiovascular, orthopedic, and reconstructive surgeries.
The market is segmented into two categories according to Application: Neurosurgery and Spinal Surgery. Neurosurgery holds the majority share in the market. The Dura Substitutes Market within neurosurgery is projected to experience consistent growth, fueled by the rising volume of neurosurgical procedures and continuous innovations in medical technology.
The market is segmented into two groups according to End-User: Ambulatory Surgical Centers, Hospitals, and Others. Hospitals lead the market. Hospitals, as the main facilities for intricate surgeries and cutting-edge medical procedures, have a substantial impact on the need for and usage of Dura substitutes.
Dura Substitutes Market- Geographical Insights
Geographically, this market spans across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. North America leads the market, attributed to the rising investments in healthcare infrastructure, especially in developing economies. North America, specifically the United States and Canada, possesses well-established healthcare systems with modern infrastructure and amenities. This facilitates the adoption of cutting-edge medical technologies, such as Dura substitutes. In 2020, the United States (U.S.) allocated USD245.1 billion for medical and health research and development (R&D), marking an 11.1% increase from 2019. The growth rates in the public-private sector R&D ecosystem in 2020 are believed to be influenced by the response to, and impact of, the COVID-19 pandemic, as indicated by U.S. Investments in Medical and Health Research and Development. Europe stands as the second largest region for market expansion, driven by the growing elderly population leading to a rise in patients with degenerative disc disease.
The competitive landscape of the Dura Substitutes Market is intense, as numerous major players are vying for market dominance by focusing on innovation, product enhancement, strategic collaborations, and corporate mergers. Extensive investments in research and development are made by companies to produce cutting-edge, biocompatible, and efficient Dura substitutes. Advancements in material science, including the creation of hybrid materials and enhanced synthetic alternatives, are primary areas of interest. Additionally, companies set up local production facilities and distribution channels to effectively cater to these markets.
Baxter International Inc., a prominent multinational medical technology company listed on the NYSE under the ticker symbol BAX, has unveiled a detailed strategic plan aimed at significantly boosting operational efficiency, advancing long-term performance, fostering innovation, and delivering added value to its stakeholders.
Integra LifeSciences has finalized an agreement to purchase Acclarent from J&J's MedTech division, Ethicon. The acquisition will involve a cash payment of USD275 million upon completion, with potential additional regulatory milestone-based payments of up to USD5 million for J&J. The transaction is anticipated to be completed by the second quarter of the fiscal year 2024.
GLOBAL DURA SUBSTITUTES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Acera Surgical, Inc.
B. Braun SE
Baxter International Inc.
Beijing Biosis Healing Biological Technology Co., Ltd.
Bioimplon GmbH
Biosynth Lifesciences
Bone Bank Allografts
Gunze Limited
Integra NeuroSciences
Johnson & Johnson Services, Inc.
Linacol Medikal
Medprin Biotech GmbH
Medtronic PLC
Nurami Medical Ltd.
Regenity Biosciences
RTI Surgical
Stryker Corporation
VOSTRA GmbH
W. L. Gore & Associates, Inc.
Others