Bone Growth Stimulator Market: Industry to Witness Fastest Growth by 2023

GLOBAL BONE GROWTH STIMULATOR MARKET was valued at USD 1.15 Billion in the year 2017. Global Bone Growth Stimulator market is further estimated to grow at a CAGR of 4.13% from 2018 to reach USD 1.46 Billion by the year 2023. North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period due to growing old age population. At a country level, the U.S in North America whereas India and China in Asia-Pacific is projected to grow strongly in the coming years.

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Medtronic. Plc (Ireland), Stryker Corporation (U.S.), Arthrex, Inc. (U.S.), Bioventus LLC, DePuy Synthes (U.S.) and Harvest Technologies Corporation (U.S.) are some of the key players in the Global Bone Growth Stimulator market. Better global reach at an operational level is the main reason the key players are holding substantial market share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.

Drivers:

• Growing old age population
• Adoption of minimal surgical treatment

Restraints:

• High treatment costs

Opportunities:

• Rising pharma sector in emerging market

Challenges:

• Government Regulations and norms.

The segmentation are done on the basis of product type, by application, by end users and by region. On the basis of product types, the global Bone Growth Stimulator market is sub segmented as Bone Morphogenetic Proteins, Bone Growth Stimulation Devices and Platelet-Rich Plasma of which the Bone Growth Stimulation Devices segment is expected to hold the highest market share during the forecast period.

The segmentation done on the basis of application includes Delayed Union & Nonunion Bone Fractures, Oral and Maxillofacial Surgeries, Spinal Fusion Surgeries and Other Applications of which the Spinal Fusion Surgeries segment is expected to hold the highest market share among other applications. On the basis of end users the market is segmented as hospitals & clinics, home Care and others of which hospitals & clinics is expected to grow at the highest CAGR during the forecasted period.

Key Benefits for Stakeholders

• Bone Growth Stimulator Manufacturers, Distributors and Retailers
• Research and Consulting Organization
• Technology Standards Organizations, Forums, Alliances and Associations
• End use industries
• Regulatory bodies, policy actors and consumers.

By Product

Bone Morphogenetic Proteins
Bone Growth Stimulation Devices

• External Bone Growth Stimulators
• Implanted Bone Growth Stimulators
• Ultrasonic Bone Growth Stimulators

Platelet-Rich Plasma

By Application

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

End Users

• Hospitals & Clinics
• Home Care
• Others

By Region

• North America
• Europe
• Asia-Pacific
• RoW

Key Market Players

• Medtronic, plc
• Stryker Corporation
• Arthrex, Inc.
• Regen Lab SA
• Altis Biologics (Pty) Ltd
• Johnson & Johnson (J&J)
• DePuy Synthes
• DJO Global, Inc.
• Terumo BCT, Inc.
• Harvest Technologies (A Terumo BCT Company)
• Bioventus LLC
• Orthofix International N.V.
• (A brief overview of 13 companies is also provided)

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