The new report by Expert Market Research titled, ‘Global Bone Growth Stimulators Market Share, Trend, Price, Size, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028’, gives an in-depth analysis of the Global Bone Growth Stimulators Market assessing the market based on its segments like product, application, end use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.20%
- Forecast Market Size (2028): USD 1.49 Billion
A bone growth stimulator is a piece of medical equipment that is mostly used to treat fractures that are not healing properly. Athletes use bone healing technologies, such as bone simulators, for effective and quick treatment of bone-related injuries, which are prevalent during sports. The global population’s bad lifestyles and unhealthy eating habits are weakening their bones. This raises the danger of bone-related problems like fractures, which helps the market grow. Furthermore, increased incidences of clinical disorders such as arthritis and osteoporosis, owing to the growing senior population, are fuelling market expansion, particularly in developed countries.
Industry Definition and Major Segments
After spinal fusion surgery, a bone growth stimulator is an electrical device that is used to stimulate the creation of new bone. Electrical currents are produced by the body’s natural healing process, and the stimulator boosts these currents to cure a variety of bone-related issues.
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On the basis of product, the market is segmented into:
- Bone Growth Stimulation Devices
- External BGS
- Implanted BGS
- Ultrasonic BGS
- Bone Morphogenetic Proteins (BMP)
- Platelet-Rich Plasma
Based on application, the product can be segmented into:
- Spinal Fusion Surgeries
- Delayed Union and Non-union Bone Fractures
- Oral and Maxillofacial Surgeries
- Others
The industry finds its end use into:
- Hospitals
- Ambulatory Surgical Centres
- Speciality Clinics
- Others
The report also covers regional market like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trend
In many circumstances, the process of bone mending necessitates medical assistance. Bone growth stimulators are among the products indicated by doctors for these problems. Bone growth stimulators function by stimulating various receptors in the body of the patient to improve the healing response, moving the market forward. It is recommended over pharmaceuticals since it is a speedier means of healing. Some of the primary drivers driving the bone growth stimulators industry are technological advancement and expansion in the healthcare sector, as well as an increase in government expenditure on healthcare.
Key Market Players
The major players in the market are Medtronic, Bioventus LLC, Orthofix Medical Inc., Zimmer Biomet Holdings Inc., DJO, LLC, and Stryker Corporation among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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