Bone Growth Stimulators Market Worth $1.94 Billion by 2030

Meticulous Research®-a leading market research company, published a research report titled, 'Bone Growth Stimulators Market by Product (Stimulation Device [External, Ultrasonic, Implantable], Bone Morphogenetic Proteins, Platelet Rich Plasma), Application (Spinal Fusion, Fracture, Oral Surgeries), End User (Hospital, ASC) - Global Forecast to 2030.'

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According to this latest publication from Meticulous Research®, the bone growth stimulators market is projected to reach $1.94 billion by 2030, at a CAGR of 4.9% from 2023 to 2030. The growth of this market is driven by the increasing preference for minimally invasive treatments, rising cases of bone fractures and spinal injuries, increasing geriatric population and subsequent increase in the cases of orthopedic diseases and injuries, and growing incidences of sports injuries. In addition, the growing number of hospitals and surgical centers worldwide, increasing utilization of platelet-rich plasma (PRP) in other applications, and emerging economies offer opportunities for the growth of this market.

The bone growth stimulators market is segmented by Product (Bone Growth Stimulation Devices [External Bone Growth Stimulators {Capacitive Coupling Devices, Combined Magnetic Field Devices, and Pulsed Electromagnetic Field Devices}, Ultrasonic Bone Growth Stimulators, Implantable Bone Growth Stimulators], Bone Morphogenetic Proteins, and Platelet-Rich Plasma), Application (Spinal Fusion Surgeries, Union & Non-union Bone Fractures, Oral and Maxillofacial Surgeries, and Other Applications), End User (Hospitals & Specialized clinics, Ambulatory Surgery Center, and Other End-User), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on product, in 2023, the bone growth stimulation devices segment is expected to account for the largest share of the bone growth stimulators market. Bone growth stimulation devices that promote bone healing in bone fractures. The large market share of this segment is attributed to the increasing cases of bone fractures, high demand for cost-effective & less painful treatments, and high preference for non-invasive or minimally invasive surgical treatments.

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Based on application, the delayed union & non-union bone fractures segment is projected to register the highest CAGR over the forecast period. The growth of this segment is attributed to the rising cases of bone fractures among the geriatric population with orthopedic problems. Furthermore, the delayed union and non-union bone fractures are due to a lack of nutrition and blood supply. According to the International Osteoporosis Foundation, osteoporosis causes about 4.3 million fragility fractures and healthcare spending of nearly $59.012 million (€56 billion) annually in Europe. In addition, the number of women and men aged 75 years and over is expected to rise between 2019 and 2034, nearly 29% and 42%, respectively, resulting in a significant increase in osteoporotic fractures.

Based on end user, in 2023, the hospitals and specialized clinics segment is expected to account for the largest share of the bone growth stimulators market. The large market share of this segment is attributed to the wide availability of hospitals in both urban & rural areas worldwide, the increasing number of individuals with various conditions visiting hospitals, and the rising number of doctors and surgeons.

Based on geography, in 2023, North America is expected to account for the largest share of the bone growth stimulators market. North America's major market share is attributed to the high spending on healthcare, the rising geriatric population, technological advancements, and the high adoption rate of innovative products in the healthcare sector in the region.

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Key Players:

Key companies operating in the bone growth stimulators market are Orthofix Medical Inc.(U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Medtronic, plc (Ireland), Stryker Corporation (U.S.), Johnson & Johnson Private Limited (U.S.), DJO, LLC (U.S.), Bioventus LLC (U.S.), OssaTechnics BV (Germany), Arthrex GmbH (U.S.), Smith & Nephew plc (U.K.), and ITO CO., Ltd. (Japan).

Key questions answered in the report-

1. Which are the high-growth market segments in terms of product, application, end user, and geography?

2. What was the historical market for bone growth stimulators across the globe?

3. What are the market forecasts and estimates for the period 2023-2030?

4. What are the major drivers, restraints, opportunities, and challenges in the bone growth stimulators market?

5. Who are the major players in the bone growth stimulators market?

6. How is the competitive landscape, and who are the market leaders in the bone growth stimulators market?

7. What are the recent developments in the bone growth stimulators market?

8. What are the different strategies adopted by the major players in the bone growth stimulators market?

9. What are the geographic trends and high-growth regions/countries?

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