Bone Growth Stimulator Market Size to Reach USD 1,788.54 Million in 2028 – Reports and Data
Increasing incidences of non-union bone complications, rising demand of minimally invasive surgeries, and advancements in bone growth stimulation technology are some key factors driving market growth.
The global bone growth stimulator market to reach USD 1,788.54 Million by 2028 at a CAGR of 5.5%, according to the latest report by Reports and Data. Increasing spinal injuries and its complications, non-union or non-healing bone, surging demand of minimally invasive procedures, and technological advancement in bone growth stimulator devices are some key factors expected to drive market revenue growth over the forecast period.
Bone growth stimulators are the electrical devices that are used in treatment of healing bone in nonunion fracture. These devices are used in natural healing process of bone fracture. Bone growth stimulators are used after the orthopedic surgical process on bone fracture if there are no signs of healing. These devices stimulate the natural healing of a bone by creating electromagnetic field, and sends more energy to the healing bone.
Increasing demand and adoption of convenient, comfortable and lightweight external bone growth stimulators is one of the key factors expected to boost market revenue growth over the forecast period. There are lucrative opportunities to the market players operating in the global bone growth stimulator market because of rising expansion and development in the bone growth stimulator technology. Growing development in medical sciences, and increasing demand of bone growth stimulators because of rising incidences of non-union complications in bone fracture are some other key factors expected to contribute to market growth going ahead. However, lack of medical reimbursements for bone growth stimulator procedures is expected to hamper market growth to a certain extent over the forecast period.
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Some Key Highlights from the Report:
- External bone growth stimulators segment is expected to account for a considerable revenue share in the global market owing to growing demand for external bone growth stimulators due to their increased comfort and usability.
- Spinal fusion surgeries segment is expected to register robust revenue CAGR over the forecast period.
- Hospitals and clinics segment is expected to account for a sizeable revenue share in the end use segment in the global market. Growth can be attributed to rapid development and advancement in healthcare infrastructure and facilities.
- Asia Pacific market revenue is expected to expand significantly over the forecast period owing to increasing growth and development in bone growth stimulator technology, growing healthcare industry, and increasing government funding and investment in healthcare sector to support growth and innovation in bone growth stimulator devices.
- Key companies in the market include Orthofix Medical Inc., Medtronic plc, Zimmer Biomet, 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 global bone growth stimulation market has been segmented into type, application, end use, and region:
Type Outlook (Revenue, USD Million; 2018 – 2028)
- 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; 2018 – 2028)
- Spinal Fusion Surgeries
- Delayed Union & Nonunion Bone Fractures
- Oral and Maxillofacial Surgeries
End Use Outlook (Revenue, USD Million; 2018 – 2028)
- Hospitals and Clinics
- Home Care Settings
- Academic Institutes & Research Centers
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Region Outlook (Revenue, USD Million; 2018 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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