The new report by Expert Market Research titled, ‘Global Bone Growth Stimulator Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global bone growth stimulator market, assessing the market based on its segments like products, applications, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 20%
Accidental sport injuries are prevalent among athletes.. As a result, the growing demand for quick recovery methods is boosting the market growth for bone growth stimulator. The lack of nutrition weakens bones, resulting in a higher number of fractures, thereby augmenting the market growth. In addition, rising cases of clinical conditions, such as arthritis and osteoporosis, are positively influencing the market growth. The vulnerability to fractures increases with age, thus the growing geriatric population also is another reason for the growth of the market.
Industry Definition and Major Segments
A bone growth stimulator is an electrical device that is used to induce the growth of new bone after a surgery. It is used predominantly to treat fractures that do not show any progressive signs of healing. The body’s natural healing process produces electrical currents, and a stimulator augments these currents.
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Based on product, the market is segmented into:
• Bone Growth Stimulation Devices
o External BGS
o Implanted BGS
o Ultrasonic BGS
• Bone Morphogenetic Proteins (BMP)
• Platelet-Rich Plasma
Based on application, the market is segmented into:
• Spinal Fusion Surgeries
• Delayed Union and Nonunion Bone Fractures
• Oral and Maxillofacial Surgeries
• Others
Based on end uses, the market is segmented into:
• Hospitals
• Ambulatory Surgical Centres
• Speciality Clinic
• Others
The regional markets of bone growth stimulator are:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Market Trends
Bone growth stimulators work by encouraging several receptors in the patient’s body to enhance the healing response. In comparison to medications, it is a faster way of healing, which is propelling the growth of the market . Technological advancement and development in the field of healthcare, rise in the government expenditure on healthcare are additional factors driving the market growth of bone growth stimulator. The rising prevalence of orthopaedic surgeries among the geriatric populations is aiding the market growth. Moreover, rising technological advancements and modernisation in the healthcare sector, rising research and development activities in the market are factors anticipated to further create new opportunities for the market growth of bone growth stimulator in the forecasted period.
Key Market Players
The major players in the market are Medtronic, Bioventus LLC, Orthofix Medical Inc., Zimmer Biomet Holdings Inc., DJO, LLC, and Stryker Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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