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.
- 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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