The global bone growth stimulator market reached a value of US$ 1.91 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 2.6 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A bone growth stimulator is a medical device used to boost the healing process of bones after a spinal fusion surgery or fracture. It relies on ultrasonic or pulsed electromagnetic waves to assist the body in tissue repairing and cell creation while increasing bone density. It helps treat nonunion fractures that occur due to the lack of stability, blood flow, and infections, particularly after surgery. In addition, it offers several advantages, including a painless healing process, low complication rates compared to other invasive methods, and increasing patient compliance. As a result, it finds extensive applications in hospitals, clinics, and home care centers across the globe.
Bone Growth Stimulator Market Trends: At present, there is a rise in the demand for minimally invasive (MI) procedures due to fewer operative complications, shorter hospitalization, less pain, reduced postoperative care, quicker recovery, smaller and more cosmetic incisions, and lower risk of infection. This, along with the growing geriatric population around the world, represents one of the key factors driving the market. Moreover, the increasing sports-related orthopedic injuries among individuals due to poor training practices, improper equipment, insufficient warm-up and stretching, and lack of conditioning are propelling the growth of the market. In addition, governments of several countries are extensively investing in medical equipment and devices. This, coupled with the burgeoning healthcare industry across the globe, is offering lucrative growth opportunities to industry players. Besides this, the growing awareness among physicians, surgeons, and patients about the benefits of bone growth stimulators for spinal fusion and bone healing is positively influencing the market. Additionally, the rising prevalence of arthritis, diabetes, and other medical conditions, such as obesity, vascular disease, and renal disorders, is strengthening the market growth.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global bone growth stimulator market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, application and end user.
Breakup by Product: Bone Growth Stimulation Devices Bone Morphogenetic Proteins Platelet-Rich Plasma
Breakup by Application: Spinal Fusion Surgeries Delayed Union and Nonunion Bone Fractures Oral and Maxillofacial Surgeries Others
Breakup by End User: Hospitals and Clinics Home Care Others
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being Arthrex Inc., DJO Global Inc., Elizur Corporation, IGEA S.p.A., Isto Biologics, Ito Co. Ltd., Medical Device Business Services Inc. (Johnson & Johnson), Medtronic Plc, Orthofix Medical Inc., Ossatec Benelux B.V., Stryker Corporation, Terumo Bct Inc. (Terumo Corporation) and Zimmer Biomet
Key Questions Answered in This Report: How has the global bone growth stimulator market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global bone growth stimulator market? What are the key regional markets? What is the breakup of the market based on the product? What is the breakup of the market based on the application? What is the breakup of the market based on the end user? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global bone growth stimulator market and who are the key players? What is the degree of competition in the industry?
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