Bone Growth Stimulators Market Outlook: 2020 the Year on a Positive Note
This detailed report on ‘Bone Growth Stimulators Market’ put offers a succinct study on regional forecast, industry size, revenue estimations related to the industry. The report further emphasizes primary challenges and growth trends adopted by leading manufacturers of the dynamic competitive spectrum of the market.
Global Bone Growth Stimulators Market is valued at USD 1884.83 million in 2018 and expected to reach USD 2430.66 million by 2025 with the CAGR of 3.70% over the forecast period.
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An increase in the patient preference for non-invasive and minimally invasive surgical treatments, procedural aids, the growing geriatric population of orthopedic issues and rising preference of arthritis due to aging and obesity are leading factors contributing to the growth of the market.
Key Players for Global Bone Growth Stimulators Market Report-
Global bone growth stimulators market report covers prominent players like Zimmer Biomet, Stryker,Medtronic, Wright Medical Group N.V., Orthofix Holdings, Inc., Prospec-Tany Technogene Ltd., Elizur Corporation, Bioventus Ossatec, Benelux BV, IGEA S.p.a.and others.
According to the medical industry, the patients who sustain broken bones typically will heal these fractures with appropriate treatment that may include casts, realignment and surgery. Occasionally, the bone healing is needed when people require surgical procedures to fuse bones together. Hence, the bone growth stimulation includes the usage of invasive, semi-invasive or non-invasive techniques. Bone growth stimulation is used to aid in the healing process after a fracture or spinal fusion surgery. It also helps in promoting quicker healing in fractures, which take a longer duration to heal by the normal healing process. Bone stimulators are often used to treat nonunion, which are broken bones that fail to heal. The noninvasive electrical bone growth stimulator and noninvasive ultrasound bone growth stimulator are benefits of Texas Medicaid for DME providers when provided in the home setting. An invasive electrical bone growth stimulator is a profit of Texas Medicaid for freestanding and hospital-based ambulatory surgical centers when provided in the outpatient setting. Electrical and ultrasonic bone growth stimulator devices are used for the treatment of orthopedic and neurosurgical conditions and area advantageous for those patients who experiences non-union of a fracture, requires an adjunct to spinal fusion surgery, or experiences congenital pseudarthrosis.
Global Bone Growth Stimulators Market Segmentation –
By Product Type
Bone Growth Stimulation Devices, Electrical Bone Growth Stimulators, Implantable Bone Growth Stimulators, Ultrasonic Bone Growth Stimulators, Bone Morphogenetic Proteins (BMP), Platelet-Derived Growth Factor (PDGF)
By Applications
Spinal Fusion, Maxillofacial and Dental, Nonunion and Union Bone Fractures
By End-Use
Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Home Care
The regions covered in the global bone growth stimulators market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of clinical decision support system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Bone Growth Stimulators Market Dynamics –
Bone Growth Stimulators market is mainly driven by factors such as the rising incidence of bone and joint disorders, growing demand for non-invasive and minimally invasive surgeries across the globe with others. According to the World Health Organization (WHO) population, the U.S. has highest aging population with the estimated population from 143 million in 2019 to 426 million in 2050 followed by Bone Growth Stimulators Market. The rapidly prolongation of life expectancy in humans, high prevalence of degenerative joint diseases has increased due to growing incidences of pain associated with joint diseases, companies in the bone growth stimulators market are increasing the availability of platelet-rich plasma (PRP) and phototherapy regenerative injection-based therapies. According to Scientific American estimate that the costs for PRP injections can range from $500 to $2,000 doing a PRP injection will first draw blood from the person being treated. One of the major challenges faced by this market is its high amount of costing of these equipment is expected to act as a restraint to the market growth of Adoption & preference of refurbished medical equipment and devices in the developing regions is also expected to restrain the market growth. Accordingly, the emergence of regenerative technologies is contributing toward market growth. Hence, the company in the market for bone growth stimulators is increasing research for the development of stem cell treatments for spinal disorders. Technological innovations have given rise to the development of co surface capacitive electrode architecture in novel personalized electric stimulation systems. The new capacitive electrode architectures are overcoming the limitations of conventional devices and offer greater amount of different stimuli according to varying waveforms. Furthermore, to aid geriatric population, governments across the world have been putting in more efforts to improve health reimbursement policies.
Global Bone Growth Stimulators Market Regional Analysis –
North America currently dominates the market for orphan drugs and is predictable to continue its monopoly for a few more years. In the north American region, the United States holds the largest market share. 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. According to the World Health Organization (WHO), U.S. has highest proportion of geriatric population 40.5 million in 2010 and is expected to reach 89 million by the year 2050. In addition to this rise in population, the prevalence of invasive surgeries associated with them has also risen which is responsible for the growth of the Bone Growth Stimulators market. The Asia Pacific bone growth stimulator 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.
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