— The global bone growth stimulators market is estimated to reach USD 1.41 billion by 2022, growing at a CAGR of 5.4% during the forecast period. The growing patient preference for non-invasive and minimally invasive surgical treatments, increasing target patient population (including rising aging population and prevalence of obesity and diabetes) and cost-effectiveness and advantage of bone stimulation devices in bone fracture treatments over other alternative treatment options are some key factors propelling the growth of this market.
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On the basis of product, the global market is segmented into bone growth stimulation devices, bone morphogenetic protein (BMPs), and platelet-rich plasma (PRP). The PRP segment is expected to grow at the highest CAGR during the forecast period primarily owing to the increasing use of PRP in sports injuries and the expansion of its applications (due to a growing number of clinical trials).
On the basis of application, the global bone growth stimulator market is segmented into spinal fusion surgeries, delayed union and non-union bone fractures, dental and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment is expected to grow at the highest CAGR during 2017 to 2022, owing to the growing geriatric population, rising number of spine procedures (and rate of spinal fusion failure), established safety and efficacy of stimulators in fusion surgery, and increasing use of bone growth stimulation products.
On the basis of end user, the global bone growth stimulator market is segmented into hospitals & clinics, home care, and academic & research institutes and CROs. In 2016, the hospitals & clinics segment accounted for the largest of the market. The advantages of bone growth stimulation products over their counterparts are the key factor driving their adoption in this end-user segment.
On the basis of region, the market is classified into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, the global bone growth stimulator market was dominated by North America, mainly due to the growing elderly population, significant presence of market players, and increasing incidence of arthritis and sports injuries.
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In this report, the market has been segmented on the basis of product, end user, application, and region. On the basis of application, the global bone growth stimulators market is segmented into spinal fusion surgeries, delayed union and non-union bone fractures, dental and maxillofacial surgeries, and other applications. In 2016, the spinal fusion surgeries segment accounted for the largest share of the market. This growth can be attributed to the established safety and efficacy of stimulators in fusion surgery, rising patient cases related to bone fracture, and growing number of spine procedures performed across the globe.
Geographically, North America commanded the largest share of the global bone growth stimulators market in 2016, followed by Europe. The growing elderly population, increasing incidence of arthritis and sports-related injuries, adoption of novel treatment options, and rising demand for minimally invasive spinal surgeries are some of the major factors driving the demand for bone growth stimulators in North America.
This report studies the global bone growth stimulators market based on product, application, and end user. The report also studies, factors (such as drivers, restraints, opportunities, and challenges) which affect market growth in a positive and negative manner. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes the micro markets with respect to their individual growth trends, prospects, and contributions to the bone growth stimulators market.
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From an insights perspective, this research report is focused on various levels of analysis—industry trends and company profiles—which together discuss basic views on the competitive landscape, emerging, and high growth segments of the bone growth stimulators market, and high growth regions and their respective drivers, restraints, opportunities, and challenges.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market and in turn help firms garner greater shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the major players in the bone growth stimulators market. The report analyzes the market based on product, application, end user, and region.
• Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and product launches in the bone growth stimulators market.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various bone growth stimulators across geographies.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the bone growth stimulators market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the bone growth stimulators market.
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