Bone Growth Stimulators Market to Surge, Valued at $1.94 Billion by 2030

Redding California, February 12, 2024 - Meticulous Research®, a renowned market research company, has unveiled its latest research report, '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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This comprehensive study forecasts that the bone growth stimulators market will attain a valuation of $1.94 billion by 2030, showcasing a robust Compound Annual Growth Rate (CAGR) of 4.9% from 2023 to 2030.

Driving Factors Behind Market Growth
The surge in the bone growth stimulators market is propelled by the escalating preference for minimally invasive treatments, a rise in bone fractures and spinal injuries, an aging population leading to an increase in orthopedic diseases and injuries, and a growing incidence of sports-related injuries. Additionally, the proliferation of hospitals and surgical centers globally, increased utilization of platelet-rich plasma (PRP) in various applications, and opportunities presented by emerging economies contribute to the market's growth.

Market Segmentation for In-Depth Analysis
The bone growth stimulators market is meticulously segmented by Product (Bone Growth Stimulation Devices, 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).

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Key Insights:
• In 2023, the bone growth stimulation devices segment is expected to dominate the market, driven by increasing bone fracture cases, demand for cost-effective and less painful treatments, and a preference for non-invasive or minimally invasive surgical procedures.

• The delayed union and non-union bone fractures segment is projected to register the highest CAGR, with a rise in cases among the geriatric population suffering from orthopedic problems, often due to a lack of nutrition and blood supply.

• Hospitals and specialized clinics are anticipated to account for the largest market share in 2023, owing to the widespread availability of hospitals, an increasing number of individuals seeking treatment, and a rising number of medical professionals.

• North America is expected to lead the market in 2023, attributed to high healthcare spending, an aging population, technological advancements, and a rapid adoption of innovative healthcare products in the region.

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Key Market Players
Leading the charge in the bone growth stimulators market are key players such as 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).

Mr. Khushal Bombe
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This release was published on openPR.