Global bone growth stimulators market size projected to surpass UD$ 2.3 billion by 2028 and is expected to grow at a CAGR of 5.2% from 2021 to 2028.
Bone growth stimulation is a therapy used to aid bone healing process after a fracture or spinal fusion surgery. Rise in geriatric population globally, increase in prevalence of orthopedic diseases and rising inclination of patients toward minimally invasive and non-invasive surgical treatments are major factors anticipated to drive the global bone growth stimulators market during the forecast period.
North America held major share of the global bone growth stimulators market in 2018, due to technological advancement and improved reimbursement policies. Furthermore, rise in number of regulatory approvals by the Food and Drug Administration (FDA) and increase in adoption of bone growth stimulators are various factors likely to drive the market during the forecast period. The bone growth stimulators market in Asia Pacific is expected to expand at a high CAGR of 5.7% from 2019 to 2027, due to increase in prevalence of orthopedic disorders, rise in demand for non-invasive bone growth therapies, and strengthening distribution channels of international market players. This, in turn, is likely to drive the demand for bone growth stimulators in emerging markets such as India and China.
Rise in Prevalence of Orthopedic Disease Worldwide to Drive Market
Rise in prevalence of orthopedic disease globally is projected to drive the bone growth stimulators market during the forecast period. As per the Arthritis Foundation, degenerative joint disease disorders such as osteoarthritis are likely to affect nearly 130 million individuals across the globe by 2050. Hence, rise in prevalence and increase in burden of orthopedic diseases has led to an increase in patient pool undergoing minimal invasive surgeries globally, resulting in high demand for bone growth stimulators. This, in turn, is likely to accelerate the growth of the global bone growth stimulators market in the next few years.
Increase in Use of Portable, Battery-powered CMF Bone Growth Stimulators and Adoption of External Bone Growth Stimulators to Propel Market
In terms of product, the global bone growth stimulators market can be classified into devices, bone morphogenetic protein (BMP), and platelet-rich plasma (PRP). Devices segment is further sub-segmented into external devices and implantable devices. External devices can be further categorized into pulsed electromagnetic field devices, combined magnetic field devices, capacitive coupling devices, and ultrasonic devices. The devices segment dominated the global bone growth stimulators market in 2020 and the trend is projected to continue during the forecast period. Increase in use of portable, battery-powered CMF bone growth stimulators for the treatment of nonunion fracture and rise in adoption of external bone growth stimulators are various factors anticipated to drive the segment during the forecast period
Rise in Number of Healthcare Professionals Using Bone Growth Stimulators to Fuel Bone Growth Stimulators Market Growth
In terms of application, the global bone growth stimulators market has been segmented into spinal fusion surgeries, delayed union & nonunion bone fractures, oral & maxillofacial surgeries, and others. The spinal fusion surgeries segment accounted for majority of the market share in 2020. Increase in number of healthcare professionals using bone growth stimulators as a supplemental device during lumbar spine surgery is likely to support the growth of the segment. The delayed union & nonunion bone fractures segment is anticipated to expand at a rapid CAGR during the forecast period, owing to increase in prevalence of osteoporosis, fractures, and other disorders
Hospitals & Clinics to be Key End User
In terms of end user, the global bone growth stimulators market has been categorized into hospitals & clinics, home care, and academic & research institutes and CROs. The hospitals & clinics segment held major share of the global bone growth stimulators market in 2020. Large share of the hospitals can be attributed to rise in number of surgical procedures being performed for the treatment and management of orthopedic disorders. These factors are likely to propel the segment during the forecast period.
North America to Lead Global Market
In terms of region, the global bone growth stimulators market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for major share of the global bone growth stimulators market during the forecast period, owing to huge demand for external bone growth stimulators for fracture and spinal fusion, presence of key orthopedic device manufacturers in the U.S., and increase in awareness about external devices based on PEMF technology.
According to the research by HealthResearchFunding.org, by 2030, over 67 million people in the U.S. are likely to suffer from some form of osteoarthritis, which is anticipated to boost bone growth stimulators usage. This, in turn, is expected to drive the demand for bone growth stimulators for patient care in the country.
The bone growth stimulators market in Asia Pacific is projected to grow at a rapid pace in the next few years. India and China are anticipated to be lucrative markets for bone growth stimulators during the forecast period, due to growing health care sector, rise in demand for bone growth stimulators devices, and high incidence of orthopedic disorders.
Major companies profiled in the global bone growth stimulators market report are
By End User
The Bone growth stimulators market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Bone growth stimulators market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Bone growth stimulators market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Bone growth stimulators market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Bone growth stimulators market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Bone growth stimulators capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Bone growth stimulators by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Bone growth stimulators market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Bone growth stimulators market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Bone growth stimulators market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Bone growth stimulators industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Bone growth stimulators market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Bone growth stimulators market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Bone growth stimulators market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Bone growth stimulators market. These factors have benefited the growth of the global market for Bone growth stimulators. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Bone growth stimulators. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Bone growth stimulators are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Orthopedic Soft Tissue Repair Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Coagulation Analyzer Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Biological Implants Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Automated Dispensing Machines Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Neurodiagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...