The global Bone Growth Stimulator Market is expected to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc. Escalating demand for noninvasive and minimally invasive treatments is a major factor estimated to boost market growth during the forecast period. Some advantages offered by minimally invasive surgeries are smaller incisions, low risk of infections, speedy recovery, shorter stay at the hospital, reduced scarring, and minimal blood loss during surgery. Thus, there is high adoption of Bone Morphogenetic Proteins (BMP) and Platelet-rich Plasma (PRP) for minimally invasive spinal and orthopedic surgeries, which is expected to boost market growth.
Rising number of trauma and accident cases is another major factor projected to support growth of the bone growth stimulator market. According to WHO, around 20 to 50 million people are injured every year due to road accidents. Road accidents and trauma are likely to result in severe spinal injuries as well as delayed union or nonunion of bone fractures, which is projected to drive demand for bone growth stimulators.
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Further Key Findings From the Report Suggest:
- Bone growth stimulation devices segment was the largest revenue grossing segment of the market in 2016 owing to high demand for noninvasive treatments by patients as well as product advancements
- PRP segment is estimated to grow at the highest CAGR during the forecast period owing to its growing popularity for bone and soft tissue healing, as well as its favorable safety profile and potential promising outcome for development of regenerative treatments
- In the application segment, the spinal fusion surgeries segment accounted for the largest share in 2016 and is projected to maintain its dominance during the forecast period owing to escalating number of spinal injuries, fractures, and spinal stenosis
- The hospitals segment accounted for the largest share in the overall market and is expected to maintain its dominance during the study period due to escalating number of admissions of patients suffering from traumatic injuries, road accidents, spinal injuries, and bone fractures
- North America dominated the overall market in 2016 mainly due to the existence of several leading medical device companies in this region and highly developed healthcare infrastructure
- The Asia Pacific market is projected to grow at the highest rate during the forecast period. Rising number road accidents and developing healthcare infrastructure in Asian countries, including China, India, and Indonesia, are major factors contributing to growth in this region
- Some of the major players are Orthofix Holdings, Inc.; Medtronic; Zimmer Biomet; DJO Global, Inc; Bioventus; Stryker; DePuy Synthes Companies; Arthrex, Inc.; Isto Biologics; and Terumo BCT, Inc.
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Grand View Research has segmented the global bone growth stimulator market on the basis of product, application, end use, and region:
Product Outlook (Revenue, USD Million; 2014 – 2025)
- Bone growth stimulation devices
- External bone growth stimulators
- Combined Magnetic Field (CMF) devices
- Capacitive Coupling (CC) devices
- Pulsed Electromagnetic Field (PEMF) devices
- Implanted bone growth stimulators
- Ultrasonic bone growth stimulators
- Bone Morphogenetic Proteins (BMP)
- Platelet-rich Plasma (PRP)
Application Outlook (Revenue, USD Million; 2014 – 2025)
- Spinal fusion surgeries
- Delayed union & nonunion bone fractures
- Oral and maxillofacial surgeries
End-Use Outlook (Revenue, USD Million; 2014 – 2025)
- Hospitals and clinics
- Home care
Regional Outlook (Revenue, USD Million; 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- South Africa
- Saudi Arabia
Browse Related Category @
Osteosynthesis Devices Market – https://www.grandviewresearch.com/industry-analysis/osteosynthesis-devices-market
Orthopedic Bone Cement Market – https://www.grandviewresearch.com/industry-analysis/orthopedic-bone-cement-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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