The Research Report Consist of 153 pages, which covers Global Bone Growth Stimulator Market overview, the growing patient preference for non-invasive and minimally invasive surgical treatments, increasing target patient population, and procedural benefits offered by bone stimulation devices in bone fracture treatments are some key factors propelling the growth of this market.
The key players focused on various strategies such as product launches and enhancements; agreements & partnerships; strategic acquisitions; and market expansions to increase their shares in the global market. Product launches & geographical expansions are the strategy adopted by major industry players to achieve desired market growth
The Global Bone Growth Stimulator Market is estimated to reach USD 1.41 billion, at a CAGR of 5.4% during the forecast period.
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Procedural benefits offered by bone stimulation devices in bone fracture treatment
Bone growth stimulation devices offer a cost-effective and safer alternative mode to treat orthopedic diseases as compared to traditional surgical therapies for nonunion bone fractures. These devices have been reported to shorten the patient’s hospital stay as well as lessen the risks of complications and infections. This is expected to aid the adoption of bone growth stimulation products among key end users. This is also augmented by clinical evidence that validates the clinical efficacy of bone growth stimulation products in the effective and rapid bone regeneration as compared to traditional methodologies.
Critical questions the report answers:
• What are the key growth strategies adopted by major global players to strengthen their market position across emerging and established regions?
• Greater clinical applications of PRP kits for early orthopedic recovery is an emerging market trend. What revenue impact will it have in the coming years on the overall bone growth stimulator industry?
• Emerging countries have immense opportunities for the growth of bone growth stimulators, will this scenario continue?
Major Bone Growth Stimulator Market Developments:
• In 2017, Orthofix International N.V. received CE and FDA approval for its next-generation bone growth stimulators, namely, Cervical-Stim and Spinal- Stim. These devices are used to stimulate and enhance natural healing process of the body post spinal fusion operation.
• In 2016, Bioventus LLC, launched its Ultrasound Bone Healing System, EXOGEN in Saudi Arabia. The product is used in the treatment of delayed unions, non-unions, and joint fusion
• In 2015, Zimmer Holdings merged with Biomet, Inc., a U.S.-based company engaged in the development of musculoskeletal medical products. This merger helped both companies to expand their footprints in the global musculoskeletal devices market and strengthen its position in the bone stimulators market.
Bone Growth Stimulator Market Based on Application.
On the basis of application, the global market is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, dental and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment is expected to grow at the highest CAGR during 2017 to 2022, owing to the growing geriatric population, rising number of spine procedures (and rate of spinal fusion failure), established safety and efficacy of stimulators in fusion surgery, and increasing use of bone growth stimulation products.
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Hospitals and Clinics Form the Fastest Growing End User Segment.
Home care: -
Home care end users segment include patients who use external bone growth stimulators based on a physician’s prescription. Physicians recommend these stimulators to patients who have undergone spinal fusion surgery or are suffering from bone fractures that have failed to heal in the normal period (delayed or nonunion fracture). This segment is expected to witness growth due to rising physician preference for bone growth stimulators over their counterparts, cost-effectiveness of external stimulators in the case of nonunion fractures, government recommendations for the use of external stimulators, and the availability of reimbursement and insurance coverage.
Key Players Operating in Industry:
Orthofix International N.V. (U.S.), Medtronic plc (Ireland), Zimmer Biomet Holdings, Inc. (U.S.), DJO Finance LLC (U.S.), Bioventus LLC (U.S.), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), Isto Biologics (U.S.), and Harvest Technologies Corporation (U.S.) are some of the players operating the Bone Growth Stimulator Market