The global Bone growth stimulator market size was USD 1,241.8 Million in 2023 and is expected to register a CAGR of 5.5% during the forecast period. Bone growth stimulator has come up as the treatment of choice to stimulate natural healing process of bone through passing low-level pulses of electromagnetic energy to the site of injury or fusion. In order to avoid the need for painful ortho-surgical procedures and assist bone healing, preventive & therapeutic bone growth stimulation technologies have been developed over time.
The market is driven by several factors that includes advantages provided by bone growth stimulation techniques over conventional methods, Increasing incidences of target diseases/condition, rising demand for minimally invasive surgeries and advancement in bone growth stimulation technologies. For instance, in June 2017, announced a clinical trial study for the company’s bone growth stimulator. In January 2017, Orthofix received FDA approval and CE Mark Approval for sales of its Bone Growth Stimulators in the regions.
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Key Coverage of the Report
- Region and country wise statistics of bone growth stimulator from the period 2023-2032. While 2023 has been utilized as historic data and 2023-2032, has been derived as forecasts.
- Estimation of market value along with historic and forecasted market trend analysis.
- Various types of bone growth stimulators have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Healthcare Regulatory framework of each region.
- Regional up-coming bone growth technologies outlook.
- Government initiatives for increasing clinical trials in Asia Pacific.
- Regional presence bone growth stimulators development companies has been mapped.
- Company overview of key players
- Strategic Initiatives adopted by companies
- Service offering and ratings
Salient Trends of the Bone Growth Stimulator Market
- Bone growth stimulator market is rising at a high growth rate of in Asia Pacific followed by North America and Europe.
- High incidence of target diseases such as arthritis and diabetes coupled with significant number of bone injury cases across the world will drive the demand for the market during forecast period.
- Benefits associated with bone growth stimulation and minimally invasive techniques is the key factor supporting the increasing adoption of the technology and consequently contributing to the market growth.
- The lack of well-established medical reimbursements for various bone growth stimulation procedures in various developing regions is likely to hinder the market growth
- Emerging markets such China and Japan are likely to witness high growth
- Regional reimbursement scenario is another key regulatory factor for adoption and growth of bone growth stimulator in the region.
Companies considered and profiled in this market study
Orthofix International N.V., Medtronic plc, Zimmer Biomet Holdings, Inc., Harvest Technologies Corporation, DJO Finance LLC, Isto Biologics, Arthrex, Inc., Bioventus LLC, DePuy Synthes, and Stryker Corporation
- The valuation for bone growth stimulation devices market was USD 1,241.8 Million in 2020 and is expected to grow to USD 1,902.1 Million by 2032.
- The bone growth stimulation devices are projected to deliver the highest growth rate of 5.55%.
- Asia Pacific is expected to witness a CAGR of 6.5 percent in the forecast period. China is estimated to be the key revenue generating region.
- Spinal Fusion Surgeries are likely to contribute to the overall growth. While revenue from delayed union & nonunion bone fractures is likely to increase from around USD 404.5 million to USD 603.0 million by 2026. The delayed union & nonunion bone fractures segment is expected to grow at a CAGR of 5.2 percent in the forecast period.
- North America is anticipated to be a key revenue generating region. However, Asia-Pacific is expected to be register highest growth rate during the forecast period.
- The Hospitals and Clinics are projected to deliver the highest growth rate of 5.9 percent.
Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, have segmented the global bone growth stimulator market on the basis of type, end user and region:
Type Outlook (Revenue, USD Million, 2023 – 2032)
- Bone Growth Stimulation Devices
- External Bone Growth Stimulators
- Combined Magnetic Field (CMF) Devices
- Capacitive Coupling (CC) Devices
- Pulsed Electromagnetic Field (PEMF) Devices
- Implanted Bone Growth Stimulators
- Ultrasonic Bone Growth Stimulators
- External Bone Growth Stimulators
- Bone Morphogenetic Proteins (BMP)
- Platelet-rich Plasma (PRP)
Application Outlook (Revenue, USD Million, 2023 – 2032)
- Spinal Fusion Surgeries
- Delayed Union & Nonunion Bone Fractures
- Oral and Maxillofacial Surgeries
End User Outlook (Revenue, USD Million, 2023 – 2032)
- Hospitals and Clinics
- Home Care Settings
- Academic Institutes & Research Centers
Regional Outlook (Revenue, USD Million, 2023 – 2032)
- North America
- Rest of the Europe
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East & Africa
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