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Bone Growth Stimulator Market Size, Trends, Drivers, Growth Rate And Future Expansion To 2032
Bone Growth Stimulator Market Analysis
The Business Research Company's Bone Growth Stimulator Global Market Report 2023 identifies rising number of bone fractures as the major driver for the bone growth stimulator market's growth in the forecast period. A person's bones typically weaken with age, dietary habitat, and other chronic disorders. The overuse or repetitive motions can tire muscles and put more pressure on the bones, leading to bone fracture.
The global bone growth stimulator market size grew from $1.37 billion in 2022 to $1.47 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bone growth stimulator market size is expected to grow to $2.04 billion in 2027 at a CAGR of 8.5%.
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Major competitors in the bone growth stimulator market are Arthrex Inc., DJO Global Inc., Stryker Corporation, Bioventus Inc., Zimmer Biomet Holdings Inc., Medtronic plc, Orthofix Holdings Inc., Depuy Synthes.
A key trend in the bone growth stimulator market includes technological advancement. Electrical Bone Growth Stimulation (EBGS) is a unique approach to accelerate healing and promote fusion success rates. Increased experience and widespread EBGS devices have led to significant advancements in stimulation paradigms and clinical outcomes. For instance, in February 2020, Orthofix, a US-based medical device company, has announced approval by the US Food and Drug Administration (FDA) for the use of technologically advanced bone growth stimulators named STIM onTrack™ mobile app version 2.1 that works with the Orthofix Bone Growth Therapy devices allowing patients to remotely communicate with their doctor about their quality of life and functional well-being.
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The bone growth stimulator market is segmented -
1) By Type: Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), Platelet-Rich Plasma (PRP) Therapy
2) By Type Of Use: Implantable Device, External Device
3) By Application: Fractures, Spinal Fusion, Osteogenesis, Arthrodesis Treatment, Spondylolithesis
4) By End User: Hospitals & ASCs, Speciality Clinics, Home Care
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the bone growth stimulator market.
The Business Research Company's "Global Bone Growth Stimulator Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Bone Growth Stimulator Market Include:
1. Executive Summary
2. Bone Growth Stimulator Market Characteristics
3. Bone Growth Stimulator Market Trends And Strategies
4. Bone Growth Stimulator - Macro Economic Scenario
5. Bone Growth Stimulator Market Size And Growth
…….
26. Africa Bone Growth Stimulator Market
27. Bone Growth Stimulator Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Bone Growth Stimulator Market
29. Bone Growth Stimulator Market Future Outlook and Potential Analysis
30. Appendix
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