Market Size – USD 1117.0 Million in 2018, Market Growth – CAGR of 5.5%, Market Trends – Product launches and research for advanced bone stimulation technologies
The Bone growth stimulator market is projected to grow at a CAGR of 5.5%, in terms of value, from USD 1117.0 Million in 2018 to reach USD 1,695.3 Million by 2026. Bone growth stimulation is emerging as a preferred method to stimulate 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 assist bone healing, for which preventive & therapeutic bone growth stimulation technologies are developed by various market players.
The market is driven by several factors that includes advantages provided by bone growth stimulation techniques over conventional methods, Increasing incidences of target diseases/condition, 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 stimulator. Similarly, in January 2017, Orthofix received FDA approval and CE Mark Approval for sales of its Bone Growth Stimulators in the regions.
Further key findings from the report suggest
- Bone growth stimulation devices market is rising at a growth rate of 5.9 percent in Asia Pacific followed by North America and Europe. High number of ortho-procedures in the region coupled with technological advancements will drive the demand for the market during forecast period across all regions.
- Spinal Fusion Surgeries are likely to contribute to the overall growth. While 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 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
- Key participants include 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.
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For the purpose of this report, Reports and Data has segmented the Genetic Editing market on the basis of type, application, end user and region:
- Type Outlook (Revenue, USD Million, 2016 – 2026)
- Bone Growth Stimulation Devices
- External Bone Growth Stimulators
- Combined Magnetic Field (CMF) Devices
- Capacitive Coupling (CC) Devices
- Pulsed Electromagnetic Field (PEMF) Devices
- Implanted Bone Growth Stimulators
- Ultrasonic Bone Growth Stimulators
- Bone Morphogenetic Proteins (BMP)
- Platelet-rich Plasma (PRP)
- Application Outlook (Revenue, USD Million, 2016 – 2026)
- Spinal Fusion Surgeries
- Delayed Union & Nonunion Bone Fractures
- Oral and Maxillofacial Surgeries
- Others
- End User Outlook (Revenue, USD Million, 2016 – 2026)
- Hospitals and Clinics
- Home Care Settings
- Academic Institutes & Research Centers
- Others
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- Regional Outlook (Revenue, USD Million, 2016 – 2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Latin America
- Brazil
- Middle East & Africa
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