Bone Growth Stimulator Market Worth $1.41 billion – Global Industry Leaders & Growth Strategies Adopted

PUNE, India, 2020-Oct-28 — /EPR Network/ —

According to the new market research report “Bone Growth Stimulator Market by Product (Device, Bone Morphogenetic Protein, PRP), Application (Spinal Fusion, Delay Union & Non-union Bone Fracture, Oral-maxillofacial), End User (Hospitals, Home Care, Academia, CROs) – Global Forecast” published by MarketsandMarkets™.

Revenue Growth Opportunities and Growth Drivers?

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

Growth Boosting Factors:

• 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

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.

As of 2015, the average treatment cost saving for diabetes patients in the U.S. being treated with electrical bone growth stimulation (EBGS) devices was reported to be ~USD 4,800 and USD 3,000 as compared to non-stimulation based treatment and low-intensity pulsed Ultrasound stimulation (LIPUS) treatment, respectively (Source: Journal of Diabetes & Metabolism, 2013).

Browse 66 market data tables and 67 figures spread through 153 pages and in-depth TOC – Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=82341383

Bone Growth Stimulator Market Segmentation in Depth:

On the basis of application, 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 marke. 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.

On the basis of end user,  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.

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Leading Key Players in the Worldwide Industry:

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.

Geographical Regions Mapped in Report:

On the basis of region, 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 during 2017–2022. 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.