Bone Growth Stimulator Market Forecast Covering Growth Inclinations & Development Strategies until 2022

Posted on 2019-05-13 by Mark Hub in Healthcare // 0 Comments

As patients of spinal cord fractures continue to struggle with long duration consumed for complete recovery, surgeons and doctors continue to promote the use of bone growth stimulators. The Fact.MR forecast report on global bone growth stimulator market anticipates that global sales of these devices will bring in more than US$ 1.4 Bn by the end of 2017. Spinal fracture patients opting for bone growth stimulators is expected to rise due to increasing advancements in lowering patient discomfort. By the end of 2022, sales of bone growth stimulators in the global market is pegged to bring in US$ 1.91 Bn, exhibiting a steady growth at 5.3% CAGR.

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Rise in R&D Funding by Private Organisations to Propel Growth of the Global Bone Growth Stimulator Market

Bone growth stimulators facilitate multi-level fusions in bones with high efficiency, playing a pivotal role in spine fusion aftercare of patients. Medical studies are revealing positive outcomes of utilizing electrical bone growth stimulators for spinal fusion process. With a number of favorable government initiatives, coupled with heavy investments made by several private organisations, there has been a robust increase in research & development activities associated with new treatment methods and product development. For example – the North American Spine Foundation, and American Academy of Orthopedic Surgeons are contributing to the development of spinal implants & devices by raising funds for R&D activities, and conducting training programs for physicians worldwide.

Leading players in the market have introduced novel bone growth stimulators in order to cater demand from soaring adoption of affordable minimally-invasive surgeries (MIS). Orthofix, a Texas Company, has introduced new bone growth stimulators, the CervicalStim and the SpinalStim, which have been approved by the European CE Mark as well as the Food and Drug Administration of the U.S. While the out-of-the-office treatment option (non-invasive) has an obvious appeal to it, necessary patient compliance remains a challenge for physicians. However, an application called Stim onTrack has been developed by Orthofix, which offers physicians with real-time data, which enables effective detailing of the patient’s treatment protocol.

North America to Remain Dominant in the Global Bone Growth Stimulator Market

North America will continue to be dominant in the global bone growth stimulator market. Sales of bone growth stimulators are expected to account for the largest revenues in North America, expanding at the highest CAGR through 2022. Europe will remain the second most lucrative market for bone growth stimulators. The market in Middle East & Africa (MEA) will continue to register a sluggish expansion through 2022.

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Bone growth stimulation devices will remain sought-after among products in the global market. Revenues from sales of bone growth stimulation devices will account for over half share of the market during the forecast period. In addition, sales of platelet-rich plasma bone growth stimulator, and bone morphogenetic proteins are expected to exhibit the fastest expansion registering similar CAGRs through 2022.

Hospitals & Clinics will Remain the largest End-Users of Bone Growth Stimulators

Based on end-users, sales of bone growth stimulators in academic and research institutes are expected to register the highest CAGR through 2022. Hospitals & Clinics will continue to be the largest end-users of bone growth stimulators, accounting for the highest share of the market over the forecast period. Home care is expected to remain the second most lucrative end-use segment in the global bone growth stimulators market.

Bone growth stimulators are expected to find the largest application in the cases of delayed union & non-union bone fractures, with sales poised to reach US$ 763.4 Mn by 2022-end. Sales of bone growth stimulators in oral & maxillofacial surgeries will account for the lowest revenues during the forecast period, based on application.

Competition Tracking

The report has also profiled key players in the global market for bone growth stimulators, which include Ossatec Benelux B.V., Elizur Corporation, Johnson & Johnson, Arthrex, Inc., DJO Global Inc., Stryker Corporation, Bioventus Inc., Zimmer Biomet Holdings, Inc., Medtronic plc., and Orthofix International N.V.

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