Pune, India, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The global bone growth stimulator market size is expected grow from USD 1.83 billion in 2021 to reach USD 2.55 billion by 2028, exhibiting a CAGR of 4.8% during the forecast period.
The growing bone fractures and sports injuries around the world will promote the growth of the market in the forthcoming years, states Fortune Business Insights, in a report, titled “Bone Growth Stimulator Market, 2021-2028.” The market size stood at USD 1.75 billion in 2020.
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Market Segments:
The global bone growth stimulator market was dominated by the bone growth stimulation devices segment in 2020. Researchers' increased attention on developing innovative non-invasive stimulating gadgets has boosted demand for these goods even more.
In 2020, the spinal fusion application segment dominated the market. The enormous number of patients undergoing spinal fusion operations throughout the world accounts for the high proportion of the sector. The hospital sector led the global market in terms of end-users. The huge frequency of patient visits and orthopaedic operations performed in hospital facilities account for the dominance.
Geographically, the market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
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Growing Prevalence of Bone Diseases to Boost Product Demand
One of the key causes driving the use of bone growth stimulators is the rising prevalence of bone disorders worldwide, fueling market expansion. Osteoporosis is one of the most common causes of fractures all around the world.
More than 8.9 million fractures are expected to occur each year, affecting an estimated 75 million individuals in the United States, Europe, and Japan. Furthermore, the market expansion will be aided by an increase in the diagnosis of such illnesses and the quick development of technologically advanced solutions for effective treatment. Furthermore, the growing number of oral and maxillofacial operations throughout the world will aid the market growth in the forthcoming years.
Increasing Cases of Bone-related Disorders to Augment Growth in North America
North America dominated the market, which was valued at USD 0.72 billion in 2020. The major factors supporting regional dominance are rising healthcare expenditures, rising prevalence and incidences of bone-related disorders that necessitate the use of bone growth stimulators, and increasing prevalence and incidences of bone-related disorders that necessitate the use of bone growth stimulators.
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Zimmer Biomet to Hold the Highest Share
Zimmer Biomet and Orthofix Holdings, Inc. hold the bulk of the worldwide market share, owing to Zimmer Biomet's diverse product portfolio and Orthofix Holdings, Inc.'s new product approvals. Orthofix Holdings, Inc. has gained FDA and CE certification for its CervicalStim and SpinalStim bone stimulators, which is expected to improve its global market position.
Notable Development:
January 2021: Bone Therapeutics and Rigenerand announced their collaboration for developing cell therapy specifically for orthopedic conditions.
The Report Lists the Key Companies in the Market:
- Orthofix Holdings, Inc. (Texas, U.S.)
- Zimmer Biomet (Warsaw, U.S.)
- Depuy Synthes. (New Brunswick, U.S.)
- Stryker (Kalamazoo, U.S.)
- Bioventus LLC. (North Carolina, U.S.)
- Medtronic Plc (Dublin, Ireland)
- DJO, LLC. (California, U.S)
- Arthrex, Inc. (Florida, U.S.)
- Terumo Corporation (Tokyo, Japan)
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Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Bone Diseases, By Key Country, 2020
- Technology Advances in Bone Growth Stimulators
- Key Mergers, Acquisitions and Partnerships
- New product launches
- Impact of COVID-19 on Bone Growth Stimulator Market
- Global Bone Growth Stimulator Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Bone Growth Stimulation Devices
- Electrical Bone Growth Stimulators
- Capacitive Coupling (CC) Devices
- Combined Magnetic Field Devices (CMF)
- Pulsed Electromagnetic Field Devices (PEMF)
- Implantable Bone Growth Stimulators
- Ultrasonic Bone Growth Stimulators
- Electrical Bone Growth Stimulators
- Bone Morphogenetic Proteins (BMP)
- Platelet-Derived Growth Factor (PDGF)
- Bone Growth Stimulation Devices
- Market Analysis, Insights and Forecast – By Application
- Spinal Fusion
- Maxillofacial & Dental
- Nonunion and union bone fractures
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASCs
- Speciality Clinics
- Home Care
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
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