Global bone growth stimulator market is likely to grow substantially over the forecast period. The market was valued at USD 1,213 million in 2017 and is anticipated to develop at a CAGR of 5.86%. Bone growth stimulators are devices that are used to accelerate the healing process following the treatments of ailments such as orthopedic fixation and spinal fixation. Bone growth stimulation therapy mostly involves the implementation of semi-invasive, non-invasive or invasive techniques. Bone growth stimulators are effective on all kinds of fractures including the fractures healing slowly, fresh fractures or fractures with an increased risk. The stimulator finds wide application in corrective osteotomy and as supportive therapy after surgery on a fracture. Bone growth stimulator improves the healing process by generating new cells, which allows the fracture to heal faster. The stimulator emits a pulsated ultrasonic or electromagnetic impulse to the zone where bone healing is required. Besides, bone growth stimulator supports patients to get back to their feet faster as it quickens the healing process. Bone growth stimulator has advanced the treatment of spinal fusions and bone fractures. It is gaining popularity over complex surgical procedures owing to its simplicity, growing patient preference and faster recovery time.
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Market Segmentation
The global bone growth stimulator market is segmented on the basis of product, application, end user, and region.
On the basis of product, the global bone growth stimulator market is segmented into bone growth stimulation devices, bone morphogenetic proteins, platelet-rich plasma, and others. The bone growth stimulation devices segment is expected to account for the largest share in the global bone growth stimulator market due to widespread awareness and growing acceptance of the devices in the healthcare sector. The bone growth stimulation devices segment is further segmented into external bone growth stimulators, implanted bone growth stimulators, and ultrasonic bone growth stimulators. External bone growth stimulators include pulsed electromagnetic field devices, capacitive coupling devices, and combined magnetic field devices.
On the basis of application, the market has been segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and others. The spinal fusion surgeries segment is expected to account for the largest share in the global bone growth stimulator market over the forecast period due to the widespread use of bone growth stimulators and the growing demand for spinal fusion surgeries for the treatment of degenerative disc disease, spondylosis, scoliosis, spinal stenosis, and kyphosis.
On the basis of end use, the global bone growth stimulator market is segmented into hospitals & clinics, home care, academic and research institutes, and others. The hospitals & clinics segment is expected to account for the largest share in the global bone growth stimulator market over the forecast period due to their larger share in the overall volume of bone repair procedures carried out all over the world. On the other hand, the home care segment is expected to exhibit the highest CAGR over the forecast period due to the growing demand for home care procedures from the geriatric population around the world.
Regional Analysis
The Americas hold the largest share in the global bone growth stimulator market. The market growth can be attributed to the increasing incidences of the spinal and orthopedic ailments such as spinal damage and bone fractures. The introduction of advanced treatment procedures and better therapeutic approaches have positively affected the bone growth stimulator market in the Americas. Furthermore, the increasing rate of spinal fusion techniques, rising awareness about bone growth stimulator, surging patient population for the orthopedic fixation procedures, and high disposable income drive the bone growth stimulator market in this region. Europe is likely to hold the second largest market share in the global bone growth stimulator industry. Increasing government support is the key driver in this market coupled with regional expansion of companies. Additionally, the expanded market has increased the reach of the medical services which has largely accelerated the bone growth stimulator market. Asia-Pacific market has witnessed a remarkable growth in the bone growth stimulator market. The improved medical facilities in China and India majorly contribute to the growth in the APAC market. Moreover, increasing government funding for healthcare coupled with augmenting R&D expenditure drives the bone growth stimulator market in the APAC region to a large extent.
Key Players
The global bone growth stimulator market is dominated by key players such as Bioventus LLC, Arthrex, Inc., DJO Finance LLC, Harvest Technologies (A Terumo BCT Company), Depuy Synthes (A Subsidiary of Johnson & Johnson), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic PLC, Isto Biologics, and Orthofix International N.V.
Table of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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