According to a new report published by UnivDatos Markets Insights, the Bone growth stimulator Market is expected to be valued at USD 2.3 billion in 2028 with a CAGR of 5% during 2022-2028. The analysis has been segmented into Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins, Platelet-rich Plasma); Application (Spinal fusion surgeries, Delayed union & non-union bone fractures, Oral and maxillofacial surgeries, Others); End-Users (Hospitals and clinics, Home care, Others); Region/Country.
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The bone growth stimulator market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the bone growth stimulator market. The bone growth stimulator market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the bone growth stimulator market at the global and regional levels.
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Market Overview
The demand for the bone growth stimulator market is rising due to the growing number of trauma, accident cases, and bone fractures across the globe. For instance, according to the studies in 2020, One of the factors causing bone fractures is Road Traffic Accidents (RTAs), which are the first leading cause of death among people aged 15-29 years. In 2019, the global number of new cases of fracture was estimated to be 178 million (95%), an increase of 33·4% since 1990. Owing to these glaring statistics road accidents and trauma are likely to result in several severe spinal injuries which increases the demand for bone growth stimulators and is anticipated to grow in the forthcoming years mainly. Moreover, the surge in patient awareness regarding bone growth stimulators, and procedural benefits provided by bone growth stimulation devices in bone fracture treatment and orthopedic diseases are fueling the demand for the bone growth stimulator market. Furthermore, the rise in technological advancements in bone growth stimulators, and the increase in adoption rate for bone growth stimulators by both patients and prescribers are expected to drive the market for bone growth stimulator market in the coming years.
Some of the major players operating in the market Orthofix Medical Inc., DJO Finance, LLC, Zimmer Biomet Holdings Inc, Bioventus Inc, Medtronic PLC, Isto Biologics, Ember Therapeutics Inc, Ossatec Benelux Ltd., Elizur Corporation, Kinex Medical Company LLC.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The COVID-19 pandemic had a short-term negative impact on the global market due to postponed elective surgeries, temporary closure of orthopedic clinics, a ban on organized sports, non-essential care restrictions across hospitals, and a slowdown in in-patient flow and referrals. For instance, in March 2020, the Centers for Medicare & Medicaid Services (CMS) announced that all non-essential medical, surgical, elective surgeries, and dental procedures had been postponed during the COVID-19 outbreak.
The global bone growth stimulator market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the application, the market is fragmented into spinal fusion surgeries, delayed union and non-union bone fractures, oral and maxillofacial surgeries, and others. The spinal fusion surgeries segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the rise in technological advancements in spinal surgery, rise in incidences of spinal disorders, and adoption rate of minimally invasive spinal surgeries.
· Based on the end-users, the market is fragmented into hospitals and clinics, home care, and others. The hospital segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to increasing admission of patients suffering from traumatic injuries, road accidents, spinal injuries, and fractures.
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Bone Growth Stimulator Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America constitutes a major market for the bone growth stimulator industry to the high prevalence of osteoporosis or vertebral fractures, rise in the number of bone and joint problems, the large presence of medical device companies, and well-developed healthcare infrastructure.
The major players targeting the market include
· Orthofix Medical Inc.
· DJO Finance LLC
· Zimmer Biomet Holdings Inc
· Bioventus Inc
· Medtronic PLC
· Isto Biologics
· Ember Therapeutics Inc
· Ossatec Benelux Ltd.
· Elizur Corporation
· Kinex Medical Company LLC.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Bone growth stimulator market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the bone growth stimulator market?
• Which factors are influencing the bone growth stimulator market over the forecast period?
• What are the global challenges, threats, and risks in the bone growth stimulator market?
• Which factors are propelling and restraining the bone growth stimulator market?
• What are the demanding global regions of the bone growth stimulator market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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