Bone Growth Stimulator Market – Global Industry Analysis, Share and Future Forecast

CITY, Country, 2020-Feb-21 — /EPR Network/ —

Growing patient preference for noninvasive and minimally invasive surgical treatments and increasing the target patient population are the key factors driving the growth of the global bone growth stimulator market. Furthermore, procedural benefits offered by bone stimulation devices are also fueling market growth.

Bone Growth Stimulator Devices offer a cost-effective and safer alternative mode to treat orthopedic diseases as compared to traditional surgical therapies for nonunion bone fractures. These devices have been reported to shorten the patient’s hospital stay as well as lessen the risks of complications and infections

According to the Latest Market research report Published by MarketsandMarkets the “Bone Growth Stimulators Market Size, Share, Demand and Growth Analysis, forecast” the global market is estimated to reach USD 1.41 billion, at a CAGR of 5.4%.

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Major Developments in Bone Growth Stimulator Market:

• Orthofix International N.V. received CE and FDA approval for its next-generation bone growth stimulators, namely, Cervical-Stim and Spinal- Stim. These devices are used to stimulate and enhance natural healing process of the body post spinal fusion operation.
• Bioventus LLC, launched its Ultrasound Bone Healing System, EXOGEN in Saudi Arabia. The product is used in the treatment of delayed unions, non-unions, and joint fusion
• Zimmer Holdings merged with Biomet, Inc., a U.S.-based company engaged in the development of musculoskeletal medical products. This merger helped both companies to expand their footprints in the global musculoskeletal devices market and strengthen its position in the bone stimulators market.

key players operating in the Global Bone Growth Stimulator Market

Orthofix International N.V. (U.S.), DJO Finance LLC (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Bioventus LLC (U.S.), Medtronic plc (Ireland), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), and Harvest Technologies Corporation (U.S.)

Orthofix International N.V. held the leading position in the market in 2016. The company offers its non-invasive bone growth stimulators through its BioStim business segment. It has a strong presence in North America, Europe, the Middle East, Africa, Asia-Pacific, and other countries. Orthofix has a strong geographic presence in 65 countries including in the U.S., the U.K., Italy, Germany, Switzerland, Austria, France, Brazil, Australia, and Puerto Rico

Major Drivers Impacting Market:

• Growing Patient Preference for Noninvasive and Minimally Invasive Surgical Treatments
• Increasing Target Patient Population
• Procedural Benefits Offered by Bone Stimulation Devices in Bone Fracture Treatment

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Global Market Segmentation:

Based on product, the global bone growth stimulators market is segmented into bone growth stimulation devices, bone morphogenetic protein (BMPs), and platelet-rich plasma (PRP). The bone growth stimulation devices segment accounted for the largest share of the market

Based on application, the global bone growth stimulator market is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment accounted for the largest share of the market.

Based on end user, the global market is segmented into hospitals & clinics, home care, and academic & research institutes and CROs. The hospitals & clinics segment is expected to grow at the highest CAGR during the forecast period. The advantage of bone growth stimulation products over their counterparts is the key factor driving their adoption in this end-user segment