Facts and Factors Market Research has published a new report titled “Bone Growth Stimulation Devices Market By Product (External/Non-Invasive Electrical Bone Growth Stimulators, Internal/Invasive Electrical Bone Growth Stimulators, and Ultrasound Bone Growth Stimulators), By Application (Trauma-Injury & Fractures, Osteogenesis, Spinal Infusion, and Others), and By End-User (Hospitals, Home-Care, Ambulatory Surgical Centers, and Orthopedic Clinics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global bone growth stimulation devices market is anticipated to be valued approximately USD 748 million in 2018 and is projected to hit the revenue of around USD 1,169 million by 2027, at a CAGR of around 5.1 % between 2019 and 2027.
After the bone is either bent or broken it produces an electric field and this lower level of the electrical field is a component of the natural healing process of the body that helps in healing of bones. Moreover, bone growth stimulation device kindles the natural healing procedure through sending of low-level pulses of electromagnetic force to the damaged location. The bone growth stimulation equipment promotes non-invasive therapy and thus assists in promoting fractured bone healing as well as spinal fusion. These devices also support the natural healing process of the bones.
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Progressive aging demographics to aid the market growth
The rise in the number of aging patients suffering from one or multiple co-morbidities including osteoarthritis, degenerative joint diseases, and osteoporosis will make the bones prone to fractures. This, in turn, is predicted to steer the expansion of the bone growth stimulation devices industry over the forecast timeline.
Moreover, bulging use of bone growth stimulating equipment in sports medicine will steer the expansion of the market over the forecast timespan. Today, bone growth stimulator instruments are used by the players who suffer from injuries in the sports events as they assist in quick recovery. Additionally, the rise in the number of injuries & fractures witnessed during the sports events will drive the market trends.
Furthermore, the easy availability of innovative bone growth stimulation devices will embellish the growth trajectory of the market during the period from 2019 to 2027. Nevertheless, the easy accessibility of the alternate treatments will demote the growth of the bone growth stimulation devices industry over the forecast timespan.
External/ Non-Invasive electrical bone growth stimulators segment to dominate the product landscape
The growth of the product segment is credited to a rise in the demand for non-invasive surgeries for the purpose of bone healing. Furthermore, these products are light in weight, portable, powered by batteries, and easy to manage. Moreover, they are gradually being accepted by the patients and this will further contribute towards the segmental growth over the forecast timeline.
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Apart from this, the launching of new products like CMF OL1000 Bone Growth Stimulators & CMF SpinaLogic Bone Growth Stimulators to existing product line will further boost the growth of the segment. In addition to this, external bone stimulators are inexpensive as compared to invasive internal bone stimulators and hence are massively used in emerging countries like India, China, and South Africa.
Hospitals segment to contribute majorly towards the overall market growth during the forecast period
The growth of the segment is due to a rise in the hospital admittance of the patients affected due to traumatic injuries, road collisions, spinal damages, and fractures. Apart from this, high patient turnaround rate along with recurrent re-admittance of the patients for surgeries & other treatments will drive the segmental growth.
North America to dominate the overall regional market revenue growth
The growth of the regional market is attributed to the rise in the cases of vertebral fractures. Moreover, a rise in the frequency of osteoporosis and vertebral compression fractures in the countries like the U.S. will culminate in huge demand for bone growth stimulators in the region.
Key players involved in the bone growth stimulation devices industry include Bioventus, DJO Global, Orthofix, and Zimmer Biomet.
This report segments the bone growth stimulation devices market as follows:
Global Bone Growth Stimulation Devices Market: By Product Segment Analysis
- External/Non-Invasive Electrical Bone Growth Stimulators
- By Technology
- Capacitive Coupling (CC) Devices
- Pulsed Electromagnetic Field (PEMF) Devices
- Combined Magnetic Field (CMF) Devices
- By Application
- Spinal Fusion
- By Technology
- Internal/Invasive Electrical Bone Growth Stimulators
- Ultrasound Bone Growth Stimulators
Global Bone Growth Stimulation Devices Market: By Application Segment Analysis
- Trauma-Injury & Fractures
- Spinal Infusion
Global Bone Growth Stimulation Devices Market: By End-User Segment Analysis
- Ambulatory Surgical Centers
- Orthopedic Clinics
Global Bone Growth Stimulation Devices Insurance Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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