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(Medical-NewsWire.com, November 25, 2021 ) MarketsandMarkets Research Reportís View on Revenue Impact?
The Global Bone Growth Stimulator Market size is projected to reach USD 1.5 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 5.8% during the forecast period
Factors Responsible for Growth and In-Depth Analysis?
The Various factors such as the growing patient preference for non-invasive and minimally invasive surgical treatments, the rising prevalence of target conditions, and the growing number of sports and accident-related orthopedic injuries are the key factors driving the growth of the bone growth stimulators market. However, limited medical reimbursement for bone stimulation devices, high treatment costs associated with BMP and PRP products, and side effects associated with BMP-based orthopedic treatment are the key factors restraining the growth of bone growth stimulator market.
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Leading Key Players and Analysis:
The prominent players operating in the global BGS Market include Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany).
Orthofix Medical is among the leading players in the bone stimulators market. The company plans to invest in basic science and clinical and evidence-based research to support broader indications for its stimulation products. The companyís portfolio of bone growth stimulators includes SpinalStim and CervicalStim. The CervicalStim stimulator is the only FDA-approved bone growth stimulator in the market used for cervical fusion. The company also focuses on R&D activities in collaboration with leading clinical organizations such as the Musculoskeletal Transplant Foundation (US), the Orthopedic Research and Education Foundation (US), and the Texas Scottish Rite Hospital for Children (US).
Geographical Analysis in Detailed?
North America accounted for the largest share of the bone growth stimulators market. The large share of North America can be attributed to the highly developed healthcare infrastructure and reimbursement system in the region and growing physician and patient awareness about the newly introduced treatment procedures and technologies in the market. The rising incidence of spinal disorders, increasing geriatric population, growing population exposure to key risk factors (such as obesity, smoking, and diabetes), and rising patient preference for minimally invasive orthopedic therapies are further driving the growth of the North American BGS Market.
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The bone growth stimulation devices segment to capture the largest share in the bone growth stimulator market.
The bone growth stimulation devices segment accounted for the largest share of the bone growth stimulators market in 2021. This can be attributed to the growing geriatric population, rising preference for non-surgical treatment procedures, and growing prevalence of nonunion fractures. Additionally, obesity, smoking, and diabetes, among other factors, can delay or inhibit bone healing after surgery or trauma. The rising incidence of these risk factors will further aid market growth.
The spinal fusion surgeries segment to witness the highest growth rate in the bone growth stimulator market.
Spinal fusion surgeries are conducted to connect two or more vertebrae permanently and eliminate motion between them. Bone growth stimulation products are used during or post surgeries to stimulate the natural bone growth process. The growth of this segment can be attributed to the growing geriatric population, the rising number of spine procedures, the established safety and efficacy of stimulators in fusion surgery, and the increasing use of bone growth stimulation products.
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Mr. Aashish Mehra