The Bone Growth Stimulator Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Bone Growth Stimulator Global Market Report 2024, The bone growth stimulator market size has grown rapidly in recent years. It will grow from $1.53 billion in 2024 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to aging population and orthopedic conditions, increasing awareness of non-invasive treatments, expansion of healthcare access, favorable reimbursement policies, increased demand for minimally invasive solutions , and increased orthopedic surgery prevalence.
The bone growth stimulator market size is expected to see strong growth in the next few years. It will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to enhanced public awareness, regenerative medicine adoption, healthcare infrastructure investments, expanding applications and indications, and supportive healthcare policies. Major trends in the forecast period include regenerative medicine, the use of 3d printing technology, incorporating wireless and iot technologies for remote patient monitoring, patient-centric care, and increasing utilization of telemedicine.
The rising number of bone fractures is expected to significantly drive the growth of the bone growth stimulators market. A person’s bones typically weaken with age, dietary habitat, and other chronic disorders. The overuse or repetitive motions can tire muscles and put more pressure on the bones, leading to bone fracture. For instance, Amgen, a US-based biotechnology company, presented numbers in May 2022 stating that osteoporosis causes around 1.5 million fractures annually in the United States, resulting in $19 billion in associated expenses. In addition, it is predicted that from 2018 to 2040, there would be a 68% increase in the number of osteoporotic fractures every year, from 1.9 million to 3.2 million. Therefore, the rise in the number of bone fractures is expected to drive the growth of the bone growth stimulator market.
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The bone growth stimulator market covered in this report is segmented –
1) By Type: Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), Platelet-Rich Plasma (PRP) Therapy
2) By Type Of Use: Implantable Device, External Device
3) By Application: Fractures, Spinal Fusion, Osteogenesis, Arthrodesis Treatment, Spondylolithesis
4) By End User: Hospitals & ASCs, Speciality Clinics, Home Care
Technological advancement is a key trend gaining popularity in the bone growth stimulators market. Electrical Bone Growth Stimulation (EBGS) is a unique approach to accelerate healing and promote fusion success rates. Increased experience and widespread EBGS devices have led to significant advancements in stimulation paradigms and clinical outcomes. For instance, in May 2022, Orthofix Medical Inc., a US-based Spinal, orthopedic, bone development solution manufacturer declared that the U.S. Food and Drug Administration (FDA) granted pre-market approval for the AccelStim bone healing therapy Class III device. The AccelStim device is a nonsurgical therapy option for approved new fractures as well as fractures that are still healing (nonunions). To enhance fracture healing, the gadget delivers a Low-Intensity Pulsed Ultrasound (LIPUS) signal to assist the bone’s natural healing process.
The bone growth stimulator market report table of contents includes:
- Executive Summary
- Bone Growth Stimulator Market Characteristics
- Bone Growth Stimulator Market Trends And Strategies
- Bone Growth Stimulator Market – Macro Economic Scenario
- Global Bone Growth Stimulator Market Size and Growth
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- Global Bone Growth Stimulator Market Competitive Benchmarking
- Global Bone Growth Stimulator Market Competitive Dashboard
- Key Mergers And Acquisitions In The Bone Growth Stimulator Market
- Bone Growth Stimulator Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Arthrex Inc
- DJO Global Inc
- Stryker Corporation
- Bioventus LLC
- Zimmer Biomet Holdings Inc
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