Bone Growth Stimulator Market worth $1.41 Billion | Hospitals and Clinics Form the Fastest Growing End User Segment.

PUNE, India, 2020-Aug-13 — /EPR Network/ —

According MarketsandMarkets Research – The Global Bone Growth Stimulator Market is estimated to reach USD 1.41 billion, at a CAGR of 5.4% during the forecast period.

Hospitals and Clinics Form the Fastest Growing End User Segment:

Hospitals;

This segment includes both government and private hospitals that provide treatment or conduct surgeries related to spine, oral and maxillofacial, nonunion/delayed union fractures and dental practices. An increasing patient population, rising procedural volumes of spinal fusion surgeries, growing prevalence of spinal disorders, and growing awareness on bone growth stimulation products are aiding the growth of this segment.

Home care;

Home care end users segment include patients who use external bone growth stimulators based on a physician’s prescription. Physicians recommend these stimulators to patients who have undergone spinal fusion surgery or are suffering from bone fractures that have failed to heal in the normal period of time (delayed or nonunion fracture). This segment is expected to witness growth due to rising physician preference for bone growth stimulators over their counterparts, cost-effectiveness of external stimulators in the case of nonunion fractures, government recommendations for the use of external stimulators, and the availability of reimbursement and insurance coverage.

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On the basis of product, the global bone growth stimulator market is segmented into bone growth stimulation devices, bone morphogenetic protein (BMPs), and platelet-rich plasma (PRP). The bone growth stimulation devices segment is expected to account for the largest market share in 2016. This can primarily be attributed to the growing aging population globally, rising preference for non-surgical treatment procedures, and growing prevalence of nonunion fractures.

Bone Growth Stimulators Market, by Application

• Spinal Fusion Surgeries
• Delayed Union & Nonunion Bone Fractures
• Oral and Maxillofacial Surgeries
• Other Applications

Bone Growth Stimulator Market Dynamics Growth 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

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On the basis of region, the market is classified into North America, Europe, Asia-Pacific, and the Rest of the World. The global bone growth stimulators 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.

Major Key Players Mapped in Research Report:

Orthofix International N.V. (U.S.), Medtronic plc (Ireland), Zimmer Biomet Holdings, Inc. (U.S.), DJO Finance LLC (U.S.), Bioventus LLC (U.S.), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), Isto Biologics (U.S.), and Harvest Technologies Corporation (U.S.) are some of the players operating the Bone Growth Stimulators Market.