Global Bone Growth Stimulator Market Size is estimated to be valued over USD 1,370 million in 2018, up by 6.1% in 2017. It accounted for 22.6% of global orthobiologics market in 2017.
Bone growth stimulator is an alternative treatment approach for patients suffering from irreversible bone injuries and spinal fusion surgery. It is an invasive treatment approach that helps in speedy recovery and healing of bones.
The industry is consolidated with top 10 players accounting for over 77% of global bone growth stimulator market share. Growth in aging population along with rise in healthcare expenditure and per capita income is driving the sales worldwide. There were over 950 million geriatrics population in 2017. The sheer size population witnesses the highest rate of fractures worldwide. Healing is the prime concern for most patients. As such, bone growth stimulator is the best alternative way to treat patients. Patient preference towards non-surgical approach also plays a key role in overall demand.
Global Bone Growth Stimulator Market Size Analysis, By Product Type
By product type, the industry is segmented into external and implantable devices. External bone stimulators dominate the global share as implantable devices are still not approved by regulatory bodies in few emerging economies. Rise in healthcare spending and increased aging population will play a key role in overall development of the bone growth stimulation industry.
Global Bone Growth Stimulator Market Revenue Analysis, By Application
Stimulators is widely used in trauma injury and fractures. However, rapid product innovation will find stimulators usage in cervical spinal fusion. High number of spinal fusion procedures will drive the bone growth stimulator sales worldwide.
Global Bone Growth Stimulator Market Size Analysis, By End-use
Much of these procedures will be carried out in hospitals that accounted for over 78% of global share in 2017. Orthopedics clinics will stand next to the hospitals in terms of total procedures being carried out worldwide.
Global Bone Growth Stimulator Market Share and Forecast Analysis: North America to dominate global sales
North America accounted for 45% of global industry share in 2017. Presence of good quality healthcare amenities and high healthcare spending are key factors that created good market prospects for industry players in the region. Also, the region hosts some of the pioneers in the field that has rightly created favorable environment for research.
Global Bone Growth Stimulator Market Size and Forecast: Competition Landscape
Some key global Bone Growth Stimulator market players are DePuy Synthes Spine, Inc., Synergy Orthopedics, ITO Physiotherapy & Rehabilitation, Orchid Medical, Orthofix International, Bioventus LLC, Zimmer Biomet Holdings Inc, Ossatec Benelux Ltd., and DJO Global.
What Will You Discover in the Report?
- An in-depth analysis of the Bone Growth Stimulator market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Bone Growth Stimulator market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Bone Growth Stimulator market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Bone Growth Stimulator industry during the forecast period
- Who are the Bone Growth Stimulator industry leaders and what are the key initiatives taken by them for long term growth
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