Bone Growth Stimulator Market 2020, Global Size, Segments, Technologies Trends, Industry Growth and Comprehensive Research Study

Bone Growth Stimulator Market Synopsis

Global bone growth stimulator market is likely to grow substantially over the forecast period. The market was valued at USD 1,213 million in 2017 and is anticipated to develop at a CAGR of 5.86%. Bone growth stimulators are devices that are used to accelerate the healing process following the treatments of ailments such as orthopedic fixation and spinal fixation. Bone growth stimulation therapy mostly involves the implementation of semi-invasive, non-invasive or invasive techniques. Bone growth stimulators are effective on all kinds of fractures including the fractures healing slowly, fresh fractures or fractures with an increased risk. The stimulator finds wide application in corrective osteotomy and as supportive therapy after surgery on a fracture. Bone growth stimulator improves the healing process by generating new cells, which allows the fracture to heal faster. The stimulator emits a pulsated ultrasonic or electromagnetic impulse to the zone where bone healing is required. Besides, bone growth stimulator supports patients to get back to their feet faster as it quickens the healing process. Bone growth stimulator has advanced the treatment of spinal fusions and bone fractures. It is gaining popularity over complex surgical procedures owing to its simplicity, growing patient preference and faster recovery time.

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Bone Growth Stimulator Market Segmentation

Global bone growth stimulator market has been segmented based on application, end user, and product. Based on application, the market has been segmented into delayed union & non-union bone fractures, spinal fusion surgeries, maxillofacial and oral surgeries, and other. The spinal fusion surgeries segment is likely to hold the largest market share in the global bone growth stimulator industry. Based on end users, the market has been segmented into home care, hospitals & clinics, academic and research institutes, and others. The hospitals & clinics segment is projected to hold the largest share in the worldwide bone growth stimulator market. Based on products, the bone growth stimulator market has been segmented into bone growth stimulation devices, bone morphogenetic proteins, platelet-rich plasma, and others. The bone growth stimulation devices segment is sub-segmented into implanted bone growth stimulators, ultrasonic bone growth stimulators, and external bone growth stimulators.

Bone Growth Stimulator Market Regional Analysis

The Americas hold the largest share in the global bone growth stimulator market. The market growth can be attributed to the increasing incidences of the spinal and orthopedic ailments such as spinal damage and bone fractures. The introduction of advanced treatment procedures and better therapeutic approaches have positively affected the bone growth stimulator market in the Americas. Furthermore, the increasing rate of spinal fusion techniques, rising awareness about bone growth stimulator, surging patient population for the orthopedic fixation procedures, and high disposable income drive the bone growth stimulator market in this region. Europe is likely to hold the second largest market share in the global bone growth stimulator industry. Increasing government support is the key driver in this market coupled with regional expansion of companies. Additionally, the expanded market has increased the reach of the medical services which has largely accelerated the bone growth stimulator market. Asia-Pacific market has witnessed a remarkable growth in the bone growth stimulator market. The improved medical facilities in China and India majorly contribute to the growth in the APAC market. Moreover, increasing government funding for healthcare coupled with augmenting R&D expenditure drives the bone growth stimulator market in the APAC region to a large extent.

Bone Growth Stimulator Market Key Players

The global bone growth stimulator market is dominated by key players such as Bioventus LLC, Arthrex, Inc., DJO Finance LLC, Harvest Technologies (A Terumo BCT Company), Depuy Synthes (A Subsidiary of Johnson & Johnson), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic PLC, Isto Biologics, and Orthofix International N.V.

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