Bone Growth Stimulators Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1904
Bone Growth Stimulators Market size is projected to experience significant growth from 2017 to 2024.
Bone growth stimulators market should witness significant growth due to increasing number of patients over the last few years. Increasing trauma and accidental injuries resulting in the fractures will serve to be a significant positive impact rendering factor. As per WHO, road traffic injuries are among the leading cause of death contributing to death of nearly 1.25 million people and many more are severely injured every year.
Vulnerability to fractures further increases with the increasing age and presence of clinical conditions such as osteoporosis. Demographic trends such as aging population, increasing average age and global average life expectancy will show substantial impact on bone growth stimulators market. Diabetes mellitus considerably escalates risk of fractures and impede the natural healing process. Rising incidences of diabetes coupled with the other clinical conditions such as obesity, renal, and vascular disease will escalate the bone growth stimulators market over the forecast timeframe.
Minimally invasive therapies eliminate post-operative complication and allows faster recovery. Rising demand for minimally invasive therapies to avoid complications pertaining to the operative procedure coupled with the increasing awareness will influence bone growth stimulators market in near future. Limited reimbursement for products can hinder the demand over the forecast years. For instance, the stimulation therapy is not covered during immediate post-operative treatments, stress fractures, treatment of fresh fractures and failed arthrodesis.
Bone growth stimulators will witness significant progress as it offers number of advantages over the conventional therapies. These devices considerably minimize the hospital stay for non-union fractures, significantly improve overall healing and requires no invasive treatments. Minimal risk of infection associated with the therapy will further propel the demand.
Spinal application market will show robust increase as therapy improves the healing process by sending low level electric signals at the fusion site. The use of these products prevents the invasive surgical procedures and complications associated with it. However, it can be used only in some patients. Increased adoption of bone stimulators by hospitals will boost the product demand over the forecast period. The physicians are increasingly prescribing the device due to low risk involved and higher success rates associated over the conventional therapies.
U.S. will witness significant rise over the forecast period due to the presence of large patient pool and high incidences of arthritis. The increasing road traffic injuries and trauma rates will further boost the U.S. bone growth stimulators market over the forecast period. Asia Pacific should witness massive growth owing to the rapidly aging population in Japan and China. The region shows high prevalence of diabetes, obesity and osteoporosis, positively influencing the business size. Rise in the disposable income will further escalate Asia Pacific bone growth stimulators market in future.
Some of the industry players operating in bone growth stimulators market include Zimmer Biomet, Orthofix International, Medtronic, Bioventus, DePuy Synthes, DJO Global, Arthrex, Isto Biologics, Harvest Technologies, Verve Consulting, Ossatec Benelux, Elizur, and IGEA. The industry players focus on strategic launch of innovative products to garner the higher market share and gain competitive advantages. For instance, in January 2017, Orthofix got the U.S. FDA and CE mark approvals for its newly launched products SpinalStim and CervicalStim. In June 2016, DJO Global launched new clinical trials for Combined Magnetic Field devices.
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