The global bone growth stimulators market was worth $1,242 million in 2018, and is expected to increase at a CAGR of 5.2 percent from 2019 to 2026, reaching $1,869 million.
Bone growth stimulator devices are medical devices that aid in the healing of fractures that have been delayed or failed. Patients are given electric shocks to increase the natural speed of healing. Bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma are some of the bone growth stimulators on the market. Pulsed electromagnetic field devices, capacitive coupling devices, and combined magnetic field devices are the three types of bone growth stimulation devices.
Increased geriatric population; increased fracture and accident rates; increased arthritis prevalence; increased cases of diabetes and other medical conditions such as obesity, vascular disease, and renal disorders; increased patient preference for minimally invasive and non-invasive surgical treatments; increased availability of platelet-rich plasma and bone morphogenetic proteins
Other factors that contribute to the growth of bone growth stimulators include an increase in patient awareness, procedural benefits provided by bone growth stimulation devices in bone fracture treatment and orthopaedic diseases, technological advancements in bone growth stimulators, and an increase in the adoption rate for bone growth stimulators by both patients and prescribers. However, the market's expansion is projected to be hampered by a lengthy approval process and restrictive medical reimbursement rules for bone stimulation products.
Product, application, distribution channel, and geography are all segments of the bone growth stimulators market. Bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma are the different types of products. It is divided into spinal fusion procedures, delayed union & nonunion bone fractures, oral & maxillofacial surgeries, and others, depending on the application. It is separated into hospitals and clinics, home care, and other distribution channels. North America (the United States, Canada, and Mexico), Europe (Germany, France, the United Kingdom, Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, and South Korea), and the rest of the world are all examined.
Because of the rise in incidences of spinal disorders, adoption rate of minimally invasive spinal surgeries, technological advancements in spinal surgery, increase in incidence of obesity & degenerative spinal conditions, and increase in patient preference, the spinal fusion surgeries segment accounted for the majority of the bone growth stimulators market share in 2018.
Due to increased patient awareness of the benefits of bone growth stimulators, growth in the number of hospitals equipped with advanced medical facilities, development of the R&D sector, rise in healthcare reforms, and technological advancements in bone growth stimulators products, Asia-Pacific presents lucrative opportunities for key players operating in the bone growth stimulators market. Furthermore, rising demand for bone growth stimulators, as well as a large population base and high income, all contribute to the market's expansion. Furthermore, prominent manufacturers have increased their focus on increasing their geographic footprint in rising Asia-Pacific countries in order to collect high bone growth stimuli.
Arthrex, Inc., Essex Woodlands Healthcare Partners (Bioventus LLC), Colfax Corporation (DJO Global, Inc), Isto Biologics, Johnson & Johnson (Depuy Synthes), Medtronic Plc, Orthofix Medical Inc., Stryker Corporation, Terumo Corporation, and Zimmer Biomet Holdings, Inc. are among the key players profiled in this report.
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