Bone Growth Stimulator Market to be dominated by External Bone Growth Stimulators through 2028
The increasing prevalence of
bone disorders is expected to drive the growth of global bone growth stimulator
in the forecast period, 2024-2028.
According to TechSci Research report, “Bone Growth Stimulator Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F`”,
the global bone growth
stimulator market is anticipated to grow at an impressive rate in the forecast
period, 2024-2028. This can be ascribed to the increasing demand for newly
developed instruments for the treatment of bone-related injuries and diseases across
the globe. Additionally, technological advancements in the end users for bone
growth stimulators and the introduction of new instruments especially in the
developed countries in North America and Europe, are expected to create
lucrative opportunities for market growth in coming years. Besides, increasing investment
in research and demand for manufacturing bone growth stimulators in
underdeveloped and developing countries is further expected to support the
market growth. Additionally, increasing agreements among major players along
with the increased incidence of spinal deformities will further boost market
growth during the forecast period.
However, increasing
usage of expensive systems and the high price of the devices reduce the return
on investment, thus, creating low adoption. This is slowing down the growth of the
global bone growth
stimulator market in the forecast
period. Similarly, a dearth of professionals may hamper the bone growth stimulators market growth during the forecast period. The lack
of awareness about new instruments for research and development in emerging
countries can further restrict the growth of the global cell-based assays market.
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The global bone growth stimulator market can be segmented by type, application,
end users, and by region.
Based on type, the global bone growth
stimulator market can be segmented into External Bone Growth
Stimulators, Ultrasonic Bone Growth Stimulators, and Implanted Bone Growth
Stimulators. The external bone
stimulator segment dominated the market in 2022 and is expected to continue maintaining
its dominance throughout the forecast period. This can be ascribed to the increasing
demand for advanced medical treatments such as minimally invasive surgeries
along with an increasing number of bone-related diseases such as arthritis,
diabetes, and other medical condition such as obesity, vascular disease, and
renal disorders across the globe..
Based on application, the market can be
segmented into Spinal Fusion Surgeries, Delayed Union, and Non-union Bone Fractures,
Oral and Maxillofacial Surgeries, and Others.
to The Union and Non-Union bone
fractures segment, are expected to dominate during the forecast period on
account of the increasing incidence of fractures due to accidental injuries
increasing the number of bone-related diseases and trauma cases across the
globe along with the growing number of sports injuries worldwide.
Major companies operating in the global bone growth stimulator market are:
- Colfax
Corporation.
- Arthrex.
- Essex Woodlands Healthcare Partners.
- Isto Biologics.
- JOHNSON and JOHNSON.
- Medtronic Plc.
- Orthofix Medical Inc.
- Stryker Corporation.
- Terumo Corporation
- Zimmer Biomet Holdings.
- Manamed Inc.
- Theragen Etex Co. Ltd.
In November 2020, DJO,LLC. Announced the acquisition of the bone graft
stimulation device business from OrthoLogice Corporation for USD 93 million. In
March 2021,Biofventus LLC announced the acquisition of Bioness,Inc. This
acquisition will enable Bioventus LLC to expand its bone growth therapy product
portfolio.
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“North America is
expected to dominate in the Global Bone Growth Stimulator market because
of increasing healthcare expenditure, increasing prevalence of different types
of bone-related injuries along with bone-related disorders across the region. Furthermore,
growing demand for painless treatment, greater affordability along with growing
favorable reimbursement policies for the treatment of different bone-related diseases
are further contributing to the demand for bone growth stimulators. Similarly, growing
non-union fractures and increasing preference for non-surgical treatment
procedures is expected to propel the market growth during forecast period. Besides,
increasing investment by government organizations for the development of new bone
growth stimulators in the region is further expected to create lucrative
opportunities for the market growth,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Bone Growth
Stimulator Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (External Bone Growth
Stimulators, Ultrasonic Bone Growth Stimulators, Implanted Bone Growth
Stimulators), By Application (Spinal Fusion Surgeries, Delayed Union, and
Non-union Bone Fractures, Oral and Maxillofacial Surgeries, Others), By End
User (Hospital and Ambulatory Surgery Centres, Home Care Settings, Academic and
Research Institutes) and
By Region”, has evaluated
the future growth potential of global bone growth stimulator market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Bone Growth Stimulator market.
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