Bone Growth Stimulators Market is Estimated to Augment Growth by 2032, owing to increasing prevalence of bone diseases | insightSLICE
The market for Bone Growth Stimulators is expected to rise from its anticipated value of US$ 0.95 billion in 2020 to US$ 1.55 billion by 2031 at a CAGR of 9.4%.
By delivering low-level electromagnetic frequencies and pulses to the location of the damage or fusion, a bone growth stimulator encourages the normal mending of bones. After a multi-level fusion treatment or for individuals with specific comorbidities, such as smoking addiction or diabetes, a bone growth stimulator is effective.
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The key players of the Global Bone Growth Stimulators Market are:
Medtronic plc, Depuy Synthes, Johnson & Johnson, Orthofix International N.V., Zimmer Biomet, Bioventus LLC, Stryker Corporation, and others are the leading companies in the global market for bone growth stimulators.
According to data provided by Clinical Pharmacy and Therapeutics, 2020, people over the age of 55 were more likely to experience bone fractures during the pandemic due to a lack of outside-the-home exercise, an inactive lifestyle, decreased exposure to sunlight/daylight, and a resulting Nutrient D deficiency.
The population group most susceptible to osteoarthritis and gouty joint discomfort is the elderly. According to the Arthritis Foundation, more than 67.2 million Americans have joint inflammation in 2019, and it is expected that this figure would rise to 82.7 million by the year 2041.
Driving factors for the growth of Global Bone Growth Stimulators Market
The industry is also being driven by a rising number of occurrences of age-related spinal problems and fractures. Additionally, the world’s population’s unhealthy eating habits and poor lifestyle choices are weakening bones.
Given the aforementioned considerations, it follows that the bone growth stimulator market is anticipated to have tremendous expansion globally throughout the forecast period.
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Furthermore, it is predicted that the availability of cutting-edge products, such as CMF OL1000 Bone Growth Stimulators and CMF SpinaLogic Bone Growth Stimulators, will promote market growth in the upcoming years.
Additionally, external stimulator technology is more affordable than obtrusive internal technology, which is expected to increase its use in emerging countries like South Africa, India, and China. Worldwide coronavirus outbreaks have also had a considerable negative impact on the analyzed growth for every market during the forecasting period.
For example, during the US’s 4-week Coronavirus pandemic phase, Northwell Health’s 16 orthopedic emergency clinic locations performed about 3,170 emergency orthopedic medical treatments. The segment is expected to grow between 2022 and 2032 as a result of the factors mentioned above.
Global Bone Growth Stimulators Market Key Segments:
Based on product Type
- Bone Growth Stimulation Devices
- External BGS
- Implanted BGS
- Ultrasonic BGS
- Bone Morphogenetic Proteins (BMP)
- Platelet-Rich Plasma
Based on Application Type
- Spinal Fusion Surgeries
- Delayed Union and Non-union Bone Fractures
- Oral and Maxillofacial Surgeries
- Others
Based on End use Type
- Hospitals
- Ambulatory Surgical Centres
- Speciality Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
- South America
- Brazil
- Rest of South America
Regional performance of Bone Growth Stimulators Market
The marketplace in North America, which was worth USD 0.72 billion in 2020, controlled the majority share of this sector. The main factors promoting regional dominance include rising healthcare costs, rising prevalence, and rates of related bone illnesses requiring the administration of bone growth stimulators.
Throughout the course of the study, it is anticipated that the European market would grow significantly in size. Along with the high number of procedures performed there for various sorts of orthopaedic disorders, strong and emerging businesses like Bioventus and Orthofix Holdings, Inc. are anticipated to contribute to the region’s supremacy.
Because bone illnesses are becoming more common in the Asia Pacific region, the continent is also expected to have profitable growth during the projected period.
However, it is projected that the economies of Latin America, the Middle East, and Africa will expand at a moderate rate due to the slower uptake of novel bone growth stimulators and the sparse use of non-invasive stimulation devices.
Market analysis report:
The years 2020 serve as a historical period and the year 2021 serves as the baseline along with the years 2022 to 2032 serving as the forecast period in our report for the Global Bone Growth Stimulators Market. We will also offer the global market share, trends, and analysis of the key industry segments throughout this study.
The competitive environment will also be taken into account, and we will present a summary and a market outlook for the upcoming years worldwide.
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The study would also include information on the main market segments’ key developments, global and regional distribution networks, sales goals, company plans, R&D initiatives, corporate profiles, and significant regulatory roadblocks.
Statistics and factors covered:
The market share of important companies in the global Bone Growth Stimulators Market would be calculated using contemporary statistical methods. The main focus of our market report will be a thorough examination of each of these companies’ key divisions and market shares.
The key competitive data and product information will be given to all clients in a distinct categorization for an easier understanding of the segments.
Strategic data, including business plans, product portfolios, development plans, strengths and weakness analysis, and research projects, will be made available to all of the enterprises in this sector. Separate components of the study will also look at market conditions as well as domestic and global regulatory issues.
This report for the Bone Growth Stimulators Market would provide the information needed to make valuable decisions such as the product launch cycle, strategic alliances, product types, merger and acquisition, partnership deals, regional restrictions, and product licensing through a variety of distinct sections such as brand portfolio, business strategy, legal regulations, and clinical studies.
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