Bone Growth Stimulator Market worth $1.5 billion – Increasing Target Patient Population

PUNE, India, 2021-Aug-05 — /EPR Network/ —

According to the new market research report “Bone Growth Stimulator Market by Product (Device (Implant, External), Bone Morphogenetic Protein, PRP), Application (Spinal Fusion, Delayed Union, Non-union Bone Fracture, Maxillofacial Surgery), Care Setting (Hospital, Homecare) – Global Forecasts to 2026″, published by MarketsandMarkets™, the global BGS Market is projected to reach USD 1.5 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 5.8% during the forecast period.

Opportunity: Emerging markets;

Emerging economies (such as China, India, Brazil, and Mexico) are expected to offer significant growth opportunities in the bone growth stimulators market. Factors such as the presence of a large patient population, rising healthcare expenditure, government initiatives to support the healthcare industry, strengthening export trade, and growing awareness among physicians, surgeons, and patients about the latest treatment options for spinal fusion and bone healing are expected to boost the demand for bone growth stimulation products in these countries. In addition, owing to the significant cost advantages, many patients from developed markets are reported to travel to these emerging markets to undergo medical treatment.

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The Rise in the global incidence of AKI and increase in the demand for effective renal replacement therapy among ICU patients and initiatives undertaken by governments to increase the awareness about BGS therapy along with the increase in the launch of advanced BGS system area anticipated to fuel the BGS market growth during the forecast period.

The growing demand for orthopedic injuries to support the market growth during the forecast period.

The significant rise in demand for BGS in the treatment of orthopedic patients. Moreover, the development and commercialization of BGS products also support Bone Growth Stimulator Market growth. Furthermore, many companies are expanding their BGS (PRP products) product portfolios. Similarly, the companies are also expanding their presence in the market. For instance, in 2021, Orthofix entered into an exclusive license agreement to commercialize the innovative portfolio of IGEA’s bone, cartilage, and soft tissue stimulation products in the US and Canada.

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Asia Pacific likely to emerge as the fastest-growing BGS Market.

Geographically, the emerging Asian countries, such as China, India, Japan and Singapore, are offering high-growth opportunities for Bone Growth Stimulator Market players. The Asia Pacific point of care market is projected to grow at the highest CAGR of 8.7% from 2021 to 2026. Expansion of healthcare infrastructure and increase in disposable personal income, increase patient population with orthopedic disease, are factors likely to support the growth of market in the region.

The prominent players operating in the global Bone Growth Stimulator Market include Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health Inc. (Canada), VQ OrthoCare (US).