Vision Research Report, Recently Announced New Report on “bone growth stimulators market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.
Global “bone growth stimulators market” Report 2021 covering manufacturers, regions, segments, forecast to 2030 is that the recent research report with correct information and extremely authentic info. The report provides insights on market share, market size, rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. The bone growth stimulators research report focuses on the competitive surroundings that has section on company profile covering product specifications, geographical coverage, recent developments, revenue analysis, and market shares. what is more, the report offers strategic recommendations so as to help the consumers to align business goals.
The bone growth stimulators market revenue share is set to grow at a yearly rate of X% during 2021-2030, while its valuation is Projected to jump from $ 11.0 Bn in 2020 to $11.0 Bn in 2030.
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Report Highlights
the external devices segment accounted for the largest share of the market owing to an increase in demand for noninvasive surgical treatments for bone healing. In addition, these devices are usually lightweight, battery-powered, portable, and easy to handle, as a result, they are being increasingly adopted by patients.
In addition, the availability of advanced products, such as CMF OL1000 Bone Growth Stimulators and CMF SpinaLogic Bone Growth Stimulators, is expected to boost market development. Moreover, external stimulator devices are less expensive as compared to invasive internal devices, which is projected to increase their adoption in developing countries such as South Africa, India, and China.
The BMP and PRP segment is expected to exhibit lucrative growth over the forecast period owing to the rising incidence of arthritis, spinal injuries, and trauma & accident cases. According to the CDC, annually, around 54.4 million adults in the U.S. had some form of rheumatoid arthritis, arthritis, lupus, gout, or fibromyalgia from 2013 to 2015. In addition, PRP has high safety, lower adverse effects, and no risk of an allergic reaction, and these factors are expected to boost the growth of the segment.
There are several leading vendors, including Medtronic; Stryker; DePuy Synthes Companies; Arthrex, Inc.; Bioventus LLC; and TERUMO BCT, INC. that provide advanced devices for treatment of spinal fusion, delayed fracture union, nonunion bone fractures, etc.
The spinal fusion surgeries segment dominated the market in terms of revenue in 2020. Increased incidence of spinal cord injuries such as fractures, spinal stenosis, and herniated disc injuries has led to increased demand for spinal fusion surgeries across the globe. According to WHO, worldwide, around 250,000 to 500,000 people suffer from spinal cord injuries annually, mainly because of road accidents, falls, and violence.
Moreover, increasing incidence of age-related spinal problems and fractures are driving the market. Aging leads to lowering of bone density and weakening of bones due to excessive loss of bone mass, and this is likely to result in fractures & spinal problems. According to the U.S. Census Bureau, around 617.1 million people were aged 65 years and older in 2015, and this number is expected to reach about 1,000.0 million by 2030. A surge in the geriatric population prone to osteoarthritis conditions is primarily driving demand for these products globally.
The delayed union and nonunion bone fracture segment is expected to grow at a significant rate during the study period. There is a high prevalence of osteoporosis that causes pain and debilitating fractures, which is expected to propel market growth. According to the International Osteoporosis Foundation, osteoporosis causes about 8.9 million fractures annually. In addition, around 1.6 million hip fractures take place globally each year, and this number is projected to reach between 4.5 and 6.3 million by 2050.
Manufacturers are focusing on the launch of new and advanced products to cater to the unmet needs of healthcare professionals and patients. For instance, in January 2017, Orthofix International N.V. announced the approval of CervicalStim and SpinalStim, bone growth stimulators used for postoperative spinal fusion, by U.S. FDA and European Commission (CE Mark). These devices deploy a low-level pulsed electromagnetic field that activates and enhances the natural healing process of the body.
Hospitals and clinics held the largest market share owing to increasing admission of patients suffering from traumatic injuries, road accidents, spinal injuries, and fractures. Thus, this segment dominated the market in 2016 owing to high patient turnaround and frequent readmissions for surgery and other treatments.
Furthermore, increasing focus on the development of healthcare infrastructure in developing countries of Asia Pacific and African regions is expected to propel the growth of the segment. Rising disposable income and the availability of advanced medical devices for the treatment of different chronic diseases are expected to boost the usage of these products in hospitals and clinics.
The homecare segment is expected to showcase lucrative growth during the forecast period due to product advancements and rising healthcare awareness among people. These devices are lightweight & portable and can be easily handled by patients at home for management of arthritis, fractures, acute & chronic pain, and osteoporosis. Thus, the availability of advanced noninvasive products is projected to drive the adoption of these home-use products.
The other end-use segment consists of research institutes and ambulatory surgical centers. This segment is projected to witness lucrative CAGR during the forecast period owing to a substantial rise in the number of spine fusion surgeries performed in ambulatory surgical centers. In addition, research institutes are actively involved in the study of BMP and PRP to improve and increase their clinical applications, which is anticipated to propel growth.
North America dominated the bone growth stimulator market with the largest revenue share owing to the high prevalence of osteoporosis or vertebral fractures. According to the American Association of Neurological Surgeons, in the U.S., 8 million women are suffering from osteoporosis and 25% of women are estimated to be affected by Vertebral Compression Fractures (VCFs). An increase in the prevalence of osteoporosis and VCFs has led to a rise in demand for bone growth stimulators used for enhanced healing, which boosts the market growth.
Europe was the second-largest market for bone growth stimulators due to the high demand for innovative therapies for chronic diseases and the local presence of leading medical device manufacturers such as Medtronic; Orthofix Holdings, Inc.; Zimmer Biomet; Bioventus; Stryker; and Terumo BCT, Inc. In addition, highly developed healthcare infrastructure primarily in Germany, Switzerland, the UK, and France is expected to drive the regional market.
Asia Pacific region is expected to exhibit the highest CAGR during the study period due to the growing number of road accidents and trauma cases. According to World Road Statistics, around 5,00,279 road accidents occurred in 2015 in India as compared to 4,93,474 in 2014, representing a 1.4% increase in the number of injuries. Thus, a large number of road accidents in India boost the demand for these products.
Global bone growth stimulators market report provides key statistics on the state of the trade and could be a valuable supply of steerage and direction for corporations and people curious about the market. The bone growth stimulators trade trends and promoting channels analysed. bone growth stimulators Market discovers numerous topics like regional market scope, product market numerous applications, market size consistent with specific product, sales and revenue by region, producing analysis, Industrial Chain, Market result Factors Analysis, market size forecast, and more. Finally, the practicableness of latest investment comes is evaluated and overall analysis conclusions offered.
Key Players
Orthofix Holdings, Inc.; Medtronic; Zimmer Biomet; DJO Global, Inc; Bioventus LLC; Stryker; DePuy Synthes; Arthrex, Inc.; Isto Biologics; and Terumo BCT, Inc.
Market Segmentation
Global Bone growth stimulators Market: Drivers and Restrains
The analysis report has incorporated the analysis of various factors that augment the market’s growth. It constitutes trends, restraints, and drivers that remodel the market in either a positive or negative manner. This section additionally provides the scope of various segments and applications that may probably influence the market within the future. The elaborated info is predicated on current trends and historic milestones. This section additionally provides an analysis of the amount of production regarding the world market and regarding every kind from 2021-2030.
COVID-19 impact on the Bone growth stimulators market
COVID-19 is associate communicable disease caused by the novel coronavirus. for the most part unknown before this happening across the world, COVID-19 has captive from a regional crisis to a worldwide pandemic in precisely a matter of a number of weeks. the world Health Organization (WHO) declared COVID-19 as an epidemic on March 11, 2021.
COVID-19 has compact most the industries across the world by disrupting provide chains and impeding numerous industrial operations. COVID-19-responsive measures undertaken by governments, like lockdown and social distancing, led to the closure of producing plants in the initial stage of the pandemic. With only a few industrial operations allowed, the demand for numerous input product within the industrial sector has declined considerably.
Key Highlights Involved in the Market Research Report: –
bone growth stimulators Market Study Coverage: It includes key market segments, key makers covered, the scope of product offered within the years thought of, world bone growth stimulators Market and study objectives. in addition, it touches the segmentation study provided within the report on the idea of the sort of product and applications.
Bone growth stimulators Market executive Summary: This section emphasizes the key studies, market rate, competitive landscape, market drivers, trends, and problems additionally to the gross indicators.
Bone growth stimulators Market Production by Region: The report delivers knowledge associated with import and export, revenue, production, and key players of all regional markets studied area unit coated during this section.
Bone growth stimulators Market Profile of Manufacturers: Analysis of every market player profiled is elaborated during this section. This section conjointly provides SWOT analysis, products, production, value, capacity, and different very important factors of the individual player.
The report delivers a comprehensive study of all the segments and shares info concerning the leading regions within the market. This report additionally states import/export consumption, offer and demand Figures, cost, business share, policy, price, revenue, and gross margins.
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