Bone Growth Stimulators Market will reach over USD 1.2 billion by 2025; as per a new research report. Increasing number of trauma cases coupled with rise in bone-related disorders such as osteoporosis, arthritis etc. will positively impact the growth of bone growth stimulators market over the forthcoming years. According to the International Osteoporosis Foundation, every year more than 8 million fractures occur all over the world due to osteoporosis. The above mentioned factors will escalate the demand for bone growth stimulators in coming future. —
Increasing number of fractures due to road accidents, sports injuries, violence and other such factors will boost the demand for bone growth stimulators. Technological advancements have improved the importance and role of bone growth stimulators in applications such as spinal fusion surgeries, oral and maxillofacial surgeries, delayed union and non-union of bones. Currently, several types of bone growth stimulators are available for a range of fracture cases to achieve desired results.
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Rise in research and development activities associated with development of bone growth stimulators along with government initiatives in favor of these medical products should impact industry growth positively. However, several incidence of product recall and limited reimbursement scenario associated with bone growth stimulators will hamper industry growth over the coming years.
External bone growth stimulators market contributed for over 40% market share in 2018 and is estimated to show significant growth over the forecast period as these devices are effective and easy to use. External bone growth stimulators also offer a non-invasive solution to delayed union and non-union of bones. Zero risk of allergies associated with platelet-rich plasma will augment the segmental growth over the foreseeable future.
Spinal fusion surgeries segment is projected to grow with a lucrative CAGR of 6.0%. Reasons for the growth include rising incidence of herniated disc and spinal stenosis along with increasing cases of spinal injuries and rising geriatric population. Delayed union and non-union bone fractures segment contributed for the largest share by application in 2018 due to rising cases of osteoporosis.
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Hospitals and ambulatory surgical centers are the major end-use segments of bone growth stimulators market. The hospitals segment contributed for more than 47% of the market by end-use in 2018 and is anticipated to show promising growth over the coming years owing to higher budget capacity, high number of skilled medical professionals and ability of catering to higher volume of patients at this setting.
The bone growth stimulators market in the U.S. contributed for the largest share in the global bone growth stimulator market. It is expected to expand at a CAGR of 5.9% over the forecast period due to availability of skilled medical professionals, high adoption rate of advanced technology and rising prevalence of osteoporosis in the country. Factors such as high healthcare expenditure, growing geriatric population and presence of key market players will also augment the U.S. bone growth stimulators market.
The bone growth stimulator market in India is expected to show significant growth of 9.2% over the forecast period. This growth is attributed to high rate of road accidents, rising geriatric population and increasing developments in healthcare technologies. Also, large volume of arthritis patients in India will augment the market growth.
Some of the key industry players operating in global bone growth stimulators market are
Medtronic, Stryker, DePuy Synthes Companies, Arthrex, Inc., Bioventus LLC, TERUMO, Orthofix International N.V, Zimmer Biomet Holdings Inc., Synergy Orthopedics. The above mentioned companies account for high market share due to better brand recognition and strong financial position.
Release ID: 88906971