Bone Growth Stimulator Market Worth $1.41 billion | Increasing Target Patient Population

PUNE, India, 2020-Jun-09 — /EPR Network/ —

[153 Pages Report] The Global Bone Growth Stimulator Market is estimated to reach $1.41 billion, at a CAGR of 5.4% during the forecast period.

Procedural benefits offered by bone stimulation devices in bone fracture treatment

Bone growth stimulation 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. This is expected to aid the adoption of bone growth stimulation products among key end users. This is also augmented by clinical evidence that validates the clinical efficacy of bone growth stimulation products in the effective and rapid bone regeneration as compared to traditional methodologies.

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Bone Growth Stimulator Market Dynamics:

Drivers;

• 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

Market Segmentation in Depth:

On the basis of 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. This large share is attributed to the growing aging population, rising preference for non-surgical treatment procedures, and growing prevalence of nonunion fractures. Additionally, the rising incidence of obesity, smoking, and diabetes which delay or inhibit bone healing after surgery or trauma are further driving the market growth.

On the basis of 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. The large share of this segment is attributed to the growing geriatric population, rising number of spine procedures (and rate of spinal fusion failure), established safety and efficacy of stimulators in fusion surgery, and increasing use of bone growth stimulation products.

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On the basis of region, this bone growth stimulators market is classified into North America, Europe, Asia-Pacific, and the Rest of the Worl, the global market was dominated by North America mainly due to the growing elderly population, increasing incidence of arthritis and sports injuries, adoption of novel treatment options, and rising demand for minimally invasive spinal surgeries.

However, the Asia-Pacific market is expected to grow at the highest CAGR. This is primarily due to the presence of a large patient population for target diseases (coupled with rapidly growing geriatric population, especially in Japan and China), rising awareness among healthcare professionals related to novel and upcoming treatment options, and ongoing government initiatives to modernize & expand healthcare infrastructure.

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.) are some of the key players in the bone growth stimulators market.