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How is the Bone Growth Stimulators Market supporting current scenario of COVID-19? Know more

07-30-2020 04:07 PM CET | Health & Medicine

Press release from: Allied Market Research

Bone Growth Stimulators Market

Bone Growth Stimulators Market

According to a new report titled Allied Market Research's "Bone Growth Stimulator Market by Product, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026", the global bone growth stimulator market size was rated at $1,242 2026 It is expected to reach $18.69 million in 2026, with an average annual growth rate of 5.2% from 2019 to 2026.

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Bone growth stimulants are used to help the bone's natural healing process. It is also called a bone-forming stimulant that provides painless ultrasound or electrical stimulation. Bone growth stimulants work by emitting low-level pulsed electromagnetic fields or pulsed ultrasonic energy. The cost incurred in the application of minimally invasive bone growth stimulants is less compared to traditional bone surgical treatment methods. There are other bone growth stimulator products available on the market for bone growth stimulators, including bone growth stimulators, bone morphogenetic proteins and platelet rich plasma.

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The market for bone growth stimulants is expected to grow significantly over the forecast period due to increased incidence of fractures and accidents, increased elderly population, increased inclination of patients to minimally invasive and non-invasive surgical treatment, and increased demand for platelet-rich plasma and bone morphogenetic proteins , The availability of cost-effective bone growth stimulation devices, and a surge in patient awareness of bone growth stimulants. It also increases the prevalence of arthritis, diabetes and other medical conditions, such as obesity, vascular disease and kidney disease; The procedural advantage provided by the bone growth stimulation device in bone fracture treatment and orthopedic disease promotes the growth of the bone growth stimulant market. However, strict approval procedures and limited medical reimbursement policies for bone stimulation products are expected to hinder the growth of the bone growth stimulator market.

By product, bone growth stimulators are the main source of revenue and are expected to grow significantly during the forecast period. The main factors driving market growth are increased demand for bone growth stimulation devices, increased elderly population, and increased incidence of spinal deformities, technological advances, development of bone growth stimulation devices, and increased number of bone and joint problems.

Spinal fusion surgery accounted for most of the market share of osteofusion surgery in 2018 due to increased incidence of spinal disease, minimally invasive spinal surgery adoption rates, and technological advances in spinal surgery. Increasing incidence of obesity and degenerative spinal conditions, increasing patient preference for spinal fusion surgical procedures worldwide.

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The main results of the study:
• On a product-by-product basis, the bone growth stimulation device segment held a share of over 51.21% in the global market in 2018.
• The spinal fusion surgery segment had the highest market share as of 2018, and is expected to maintain its dominant position throughout the forecast period.
• According to distribution channels, the hospital and clinic sectors have the fastest growth rates and are expected to grow at an annual average of 5.6% from 2019 to 2026.
• In the Asia-Pacific region, it is expected to grow at the highest rate with a CAGR of 7.0% over the forecast period.

North America accounted for about 53.22% of the global bone growth promoter market share in 2018 and is expected to remain dominant throughout the forecast period. This is due to the high adoption rate of bone growth stimulant products, the presence of medical device companies, the well-developed medical infrastructure, and the wide availability of bone growth stimulant drugs. Meanwhile, the Asia-Pacific region is expected to experience the highest growth rates during the forecast period, mainly due to improvements in healthcare infrastructure, increased number of hospitals with advanced medical facilities, R&D sector development, and increased healthcare reform. Advances in medical technology.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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