The global bone growth stimulators market size was worth around USD 1.42 Billion in 2022 and is estimated to grow to about USD 1.96 Billion by 2030, with a compound annual growth rate (CAGR) of approximately 5.6 percent over the forecast period.
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➤ Boost patient preference for minimally invasive and non-invasive surgical procedures.
The demand for non-invasive and minimally invasive treatments has experienced a significant increase due to their advantages over traditional treatment methods. Minimally invasive treatments offer a variety of benefits, including reduced operating complications, minimal hospitalization, smaller aesthetic incisions, reduced discomfort, reduced risk of infection, abridged postoperative care, and a faster recovery. Advanced technology is employed in minimally invasive treatments to diagnose and treat a variety of conditions, such as cancer. The objective of these treatments is to eliminate malignant tumors and lymph nodes from the body without causing scarring. The market growth is being influenced by these factors.
➤ The market growth may be impeded by medical reimbursement limitations for bone stimulating procedures.
Medical reimbursement is one of the most critical variables that affects the acceptance and demand of specific diagnostic or therapeutic products among patients and healthcare professionals at the country level. The majority of healthcare insurance companies in developed nations (such as the United States and Australia) cover bone growth stimulation drugs, provided that specific criteria are satisfied.
➤ The market will have improved development opportunities as a result of the growing demand for bone growth stimulators in emerging countries.
The bone growth stimulators market is expected to experience substantial development potential in emerging economies such as India, China, Mexico, and Brazil. The requirement for bone growth stimulation devices is anticipated to be bolstered by factors such as a large patient population, soaring healthcare spending, increasing government support for the healthcare industry, bolstering export trade, and increasing awareness among surgeons, physicians, and patients regarding the latest treatment options for spinal fusion and bone therapies.
➤ The expansion of the market is significantly hindered by the adverse effects of BMP-based orthopedic therapy.
Despite their increasing use in bone regeneration and spinal fusion, BMPs are associated with a number of adverse side effects. The most prevalent adverse effects of BMPs following spinal fusion surgery are male infertility, implant dislodgment, and tissue edema. Antigenic responses and oncogene activation have been associated with BMPs during bone repair. Medtronic encountered numerous clinical complications during the implementation of its BMP product in spinal fusion procedures for bone repair.
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The Global Bone Growth Stimulators Market is segmented based on product, application and region
Global Bone Growth Stimulators Market: Product Segment Analysis
● Bone Growth Stimulation Devices
● Bone Morphogenetic Proteins
● Platelet-Rich Plasma
Global Bone Growth Stimulators Market: Application Segment Analysis
● Spinal Fusion Surgeries
● Delayed Union & Nonunion Bone Fractures
● Oral & Maxillofacial Surgeries
● Others
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The global Bone Growth Stimulators market profiles key players such as:
● Orthofix Medical Inc.
● Zimmer Biomet
● DJO Finance LLC
● Stryker
● Bioventus LLC
● Medtronic plc
● Arthrex Inc.
● DePuy Synthes
● Isto Biologics
● Ember Therapeutics Inc.
● Terumo Corporation
● Altis Biologics (Pty) Ltd.
● Ossatec Benelux Ltd.
● Regen Lab SA
● Elizur Corporation
● ITO Co. Ltd.
● BTT Health GmbH
???? Recent Developments
• Orthofix entered into an exclusive licensing agreement with IGEA in April 2021 to distribute the company’s innovative soft tissue, cartilage, and bone stimulation solutions in the United States and Canada.
• Stryker acquired Wright Medical for USD 5.4 billion in November 2020. The acquisition further solidified Stryker’s position in the orthopedics device industry.
➤ Over the forecast period, North America will continue to be the largest market for bone growth stimulators.
The global bone growth stimulators market is dominated by North America. The United States and Canada’s well-developed healthcare structure and medical reimbursement system are the reasons for North America’s substantial market share.
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