The Worldwide Growth Stimulator Industry is Expected to Reach $1.8 Billion by 2027 - ResearchAndMarkets.com
03 Nov 2022
DUBLIN--(BUSINESS WIRE)--The "Bone Growth Stimulator Market by Product (Device (External Bone Growth Stimulators), Platelet-Rich Plasma), Application (Spinal Fusion Surgeries, Oral & Maxillofacial Surgeries), End Users (Hospital, Ambulatory surgical centers) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
'Bone Growth Stimulator Market by Product (Device (External Bone Growth Stimulators), Platelet-Rich Plasma), Application (Spinal Fusion Surgeries, Oral & Maxillofacial Surgeries), End Users (Hospital, Ambulatory surgical centers) - Global Forecast to 2027'
The global bone growth stimulators market is valued at an estimated USD 1.8 billion by 2027 from an estimated USD 1.36 billion in 2022, at a CAGR of 5.9% from 2022 to 2027 during the forecast period.
The growing demand for bone growth stimulators in spinal fusion surgeries applications; the rising preference for non-surgical and non-invasive treatment.
The bone growth stimulator devices segment accounted for the highest growth rate in the bone growth stimulation devices market, by product, during the forecast period.
Based on product, the global bone growth stimulation devices market is segmented into External Bone Growth Stimulators, Ultrasonic Bone Growth Stimulators and Implanted Bone Growth Stimulators. In 2021, the external Bone Growth Stimulators segment accounted for the largest share of the global bone growth stimulators market.
This segment is also expected to grow at the highest rate during the forecast period. The largest share of this segment can be attributed to the advantages of external devices over internal/implanted devices, these are less expensive, noninvasive, and do not require surgeries for implantation and removal which will drive the market growth.
The spinal fusion surgeries segment accounted for the highest CAGR.
On the basis of application, the global bone growth stimulators market is segmented into - spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries, and other applications. In 2021, the spinal fusion surgeries segment accounted for the largest share of the bone growth stimulators market. Factors supporting the growth increasing the growing geriatric population and the rising number of spine procedures.
The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period.
The bone growth stimulators market is segmented into - North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The bone growth stimulators market in several Asia-Pacific countries is expected to witness high growth during the forecast period owing to the ageing population, rapid economic growth in emerging APAC countries and rising volume of spine procedures.
Market Dynamics
Growing Patient Preference for Noninvasive and Minimally Invasive Surgical Treatments
Increasing Target Patient Population
Rising Number of Sports and Accident-Related Orthopedic Injuries
Rising Geriatric Population
Restraints
Limited Medical Reimbursement for Bone Stimulation Products
High Treatment Costs Associated with Bmp and Prp Products
Limited Clinical Evidence to Support Therapeutic Efficacy of Bone Growth Stimulators
Opportunities
Increasing Use of Prp in Other Applications
Rising Number of Hospitals and Surgical Centers
Challenges
Lack of Access to Diagnostics
Side Effects Associated with Bmp-Based Orthopedic Treatment
Companies Mentioned
Enovis Corporation (Formerly Colfax)
Ossatec Benelux Ltd.
Regen Lab Sa
Stimulate Health
Zimvie Inc. (Subsidiary of Zimmer Biomet)
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