The Bone Growth Stimulation Devices market size is to reach USD 1,902.1 Million by 2028 at a CAGR of 5.55%, according to the latest report by Reports and Data. Bone growth stimulation is emerging as a preferred method to stimulate the natural healing process of bone through passing low‑level pulses of electromagnetic energy to the site of injury or fusion. It provides an alternative for painful ortho-surgical procedures and assists in bone healing, for which preventive & therapeutic bone growth stimulation technologies are developed by various market players.
The market is driven by several factors that include advantages provided by bone growth stimulation techniques over conventional methods, Increasing incidences of target diseases/conditions, rising demand for minimally invasive surgeries, and advancement in bone growth stimulation technologies. For instance, in June 2017, announced a clinical trial study for the company’s Bone Growth Stimulation Devices. Similarly, in January 2017, Orthofix received FDA approval and CE Mark Approval for sales of its Bone Growth Stimulation Devicess in the regions.
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Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to the rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Further key findings from the report suggest
- Bone growth stimulation devices market is rising at a growth rate of 5.9 percent in the Asia Pacific followed by North America and Europe. The high number of ortho-procedures in the region coupled with technological advancements will drive the demand for the market during the forecast period across all regions.
- Spinal Fusion Surgeries are likely to contribute to the overall growth. At the same time, revenue from delayed union & nonunion bone fractures is likely to increase from around USD 404.5 million to USD 603.0 million by 2026. The delayed union & nonunion bone fractures segment is expected to grow at a CAGR of 5.2 percent in the forecast period.
- Asia Pacific is expected to witness a CAGR of 6.5 percent in the forecast period. Emerging markets such as China and Japan are likely to witness high growth
- The lack of well-established medical reimbursements for various bone growth stimulation procedures in various developing regions is likely to hinder the market growth
Top Players in the Global Bone Growth Stimulation Devices Market:
Orthofix International N.V., Medtronic plc, Zimmer Biomet Holdings, Inc., Harvest Technologies Corporation, DJO Finance LLC, Isto Biologics, Arthrex, Inc., Bioventus LLC, DePuy Synthes, and Stryker Corporation.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and increasing demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on the development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.
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Bone Growth Stimulation Devices Market Segmentation:
Type Outlook (Revenue, USD Million, 2018 - 2028)
Bone Growth Stimulation Devices
Bone Morphogenetic Proteins (BMP)
Platelet-rich Plasma (PRP)
End-User Outlook (Revenue, USD Million, 2018 - 2028)
Hospitals and Clinics
Home Care Settings
Academic Institutes & Research Centers
Others
Global Bone Growth Stimulation Devices Market Report: Regional Segmentation
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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According to the new market research report “ Bone Growth Stimulator Market by Product (Device, Bone Morphogenetic Protein, PRP), Application (Spinal Fusion, Delay Union & Non-union Bone Fracture, Oral-maxillofacial), End User (Hospitals, Home Care, Academia, CROs) - Global Forecasts to 2022” ", published by MarketsandMarkets™,The global bone growth stimulator market is estimated to reach USD 1.41 billion by 2022 from 1.03 billion at a CAGR of 5.4% during the forecast period.
Don’t miss out on business opportunities in Bone Growth Stimulator MarketProcedural 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.Browse and in-depth TOC on “ Bone Growth Stimulator Market “66 - Tables67 - Figures 153 - PagesSpeak to Our Subject Expert: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=82341383Target AudienceBone growth stimulation products manufacturing companiesHealthcare institutions (hospitals and outpatient clinics)Distributors and suppliersResearch laboratories and academic institutionsGovernment and regulatory authoritiesNon-government and other associations/organizationsMarket research and consulting firmsContract research organizations (CROS) and contract manufacturing organizations (CMOS)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?Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=82341383
