IMARC Group, a leading market research company, has recently releases report titled “Bone Growth Stimulator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global bone growth stimulator market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the bone growth stimulator market?
The global bone growth stimulator market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.05% during 2023-2028.
What is bone growth stimulator?
A bone growth stimulator is a medical device designed to promote and accelerate the healing of bone fractures and fusions. It relies on various technologies to stimulate bone cells, which leads to bone growth and repair. It is commonly used in cases wherein bone healing is slow or problematic, such as non-union fractures, delayed union fractures, or in patients with risk factors that can impede natural bone healing. Bone growth stimulator is considered safe and non-invasive, with minimal side effects. It is used with other standard treatments, such as casts, surgery, or medications, to facilitate optimal bone healing.
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What are the growth prospects and trends in the bone growth stimulator industry?
The increase in orthopedic surgeries, such as spinal fusions and fracture repairs, has necessitated the use of bone growth stimulators to accelerate healing. As these surgical interventions become more common due to various factors, including sports injuries, accidents, or congenital issues, the requirement for these stimulators in post operative care is on the rise around the world. In addition, the global rise in the elderly population is significantly driving the demand for bone growth stimulators.
As people age, their bone density naturally decreases, which leads to a higher prevalence of fractures and bone-related issues. Bone growth stimulators provide an innovative solution for enhancing the natural healing process of the body and make them an essential medical tool for managing the bone health of the aging population. Moreover, there is a rise in awareness about the benefits of bone growth stimulators, especially in developing countries. Government measures and healthcare organizations are promoting the understanding and accessibility of these devices.
The concerted efforts to educate the population and provide affordable treatment options are contributing to the market growth. Apart from this, the growing occurrence of lifestyle disorders like obesity and diabetes, which can adversely affect bone health, is catalyzing the demand for specialized treatments like bone growth stimulators to aid in recovery from related fractures or surgeries. Furthermore, the increasing number of accidents and trauma cases worldwide is creating a need for efficient and swift bone healing methods, including bone growth stimulators that present an effective solution to accelerate the recovery process in such cases.
Besides this, the rising number of collaborations and partnerships between medical device manufacturers and research institutions are fostering innovation and expanding the reach of bone growth stimulators. Additionally, the growing number of clinical trials and research and development (R&D) activities providing concrete evidence of the efficacy of bone growth stimulators is creating a positive outlook for the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Bone Growth Stimulation Devices
- Bone Morphogenetic Proteins
- Platelet-Rich Plasma
Breakup by Application:
- Spinal Fusion Surgeries
- Delayed Union and Nonunion Bone Fractures
- Oral and Maxillofacial Surgeries
Breakup by End User:
- Hospitals and Clinics
- Home Care
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Arthrex Inc., DJO Global Inc., Elizur Corporation, IGEA S.p.A., Isto Biologics, Ito Co. Ltd., Medical Device Business Services Inc. (Johnson & Johnson), Medtronic Plc, Orthofix Medical Inc., Ossatec Benelux B.V., Stryker Corporation, Terumo Bct Inc. (Terumo Corporation) and Zimmer Biomet
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