Jersey City, New Jersey, Oct. 10, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Electrical Bone Growth Stimulators Market” By Product (External Type, Implanted Type), By Application (Hospitals and Clinics, Home Care, Academic and Research Institutes), and By Geography.
According to the extensive research done by Verified Market Research experts, the Electrical Bone Growth Stimulators Market size was valued at USD 1369.96 Million in 2020 and is projected to reach USD 2066.84 Million by 2028, growing at a CAGR of 5.30% from 2021 to 2028.
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Browse in-depth TOC on “Electrical Bone Growth Stimulators Market”
202 - Pages
126 – Tables
37 – Figures
Global Electrical Bone Growth Stimulators Market Overview
The rise in obesity and hence the increase in orthopedic injuries are the main driving factors for the expansion of the Electrical Bone Growth Stimulators Market. The rise in non-invasive medical practices to reinforce the success of bone grafting procedures and the low risk of adverse effects also are expected to accelerate the demand for BGS. The complexity rates in BGS are low as compared to other invasive medical treatment techniques.
The rapid rise in automobile users also leads to a substantial rise in road accidents resulting in spinal injuries and therefore eventually promoting the expansion of the Electrical Bone Growth Stimulators Market. However, inadequate knowledge about the success rates of BGS and therefore the higher treatment cost are the main restraints within the growth of the bone growth stimulator. Moreover, the increasing demand for safe, innovative, and modern effective treatment techniques can create a chance for the Electrical Bone Growth Stimulators Market.
Key Development
Partnerships, Collaborations, and Agreements
- In April 2021, Orthofix Medical Inc., an international medical device firm, announced that it had entered into a formal license deal to commercialize the revolutionary portfolio of IGEA S.p. A’s bone and soft tissue stimulation products in the United States and Canada. With this agreement, the firm gains the authority to obtain US Food and Drug Administration clearances for IGEA’s orthopedic product platform.
Mergers and Acquisitions
- Stryker paid USD 5.4 billion for Wright Medical in 2020. Stryker’s position in the orthopedics device industry was reinforced as a result of the acquisition.
Product Launches and Product Expansions
- Orthofix Medical Inc., a medical device firm, announced the FDA approval of the STIM Ontrack mobile app version to be utilized by the company’s bone growth stimulators in February 2020. This technology works in conjunction with the Orthofix bone growth therapy devices to help patients adhere to their prescriptions and advance their clinical results.
Key Players
The major players in the market are Stryker, ITO, Orthofix Medical, Zimmer Biomet.
Verified Market Research has segmented the Global Electrical Bone Growth Stimulators Market On the basis of Product, Application, and Geography.
- Electrical Bone Growth Stimulators Market, by Product
- External Type
- Implanted Type
- Electrical Bone Growth Stimulators Market, by Application
- Hospitals and Clinics
- Home Care
- Academic and Research Institutes
- Electrical Bone Growth Stimulators Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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