The market held a market value of USD 1.14 billion and is projected to grow at a CAGR of 5.6% over the forecast period.
The Global Bone Growth Stimulator Market has been segmented into Product, Application and End user.Based on products, the market has been segmented into, bone growth stimulation devices, bone morphogenetic proteins, platelet-rich plasma, and others. The bone growth stimulation devices segment is further segmented into, external bone growth stimulators, implanted bone growth stimulators, and ultrasonic bone growth stimulators among which external bone growth stimulators include pulsed electromagnetic field devices, capacitive coupling devices, and combined magnetic field devices. The Bone Growth Stimulation Devices segment is expected to account for the largest share in the global market. This large share is majorly attributed to the wider acceptance of the devices, and better patient compliance as compared to other techniques.
On the basis of application, the market has been segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and other. The spinal fusion surgeries segment is expected to account for the largest share in the global bone growth stimulator market. On the basis of end users, the market has been segmented into hospitals & clinics, home care, academic and research institutes, and others. The hospitals & clinics segment is expected to account for the largest share in the global market. At the same time, the increasing establishments of the home care services in the developed and developing countries has led this segment to grow at the fastest rate during the forecast period.
Based on the regions, the market for bone growth stimulator is segmented in to, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Bone Growth Stimulator Market in the Americas region has further been segmented into North America and South America, where-in the North American market is further divided into the US and Canada. European Market has been segmented into Western Europe and Eastern Europe where-in Western Europe region is further divided into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into regions such as the Middle East and Africa.
Arthrex, Inc., Bioventus LLC, Depuy Synthes (A Subsidiary of Johnson & Johnson), DJO Finance LLC, Harvest Technologies (A Terumo BCT Company), Isto Biologics, Medtronic PLC, Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc. are some of the key players in the global market.
Regional Market Summary:
Geographically, the Americas is anticipated to dominate the global bone growth stimulator market owing to the rising prevalence of the orthopaedic and spinal ailments such as bone fractures, and spinal damage among others. The development of the better therapeutic approaches and advanced treatment procedures have affected the growth of the American market in a positive way. Moreover, increasing rate of the spinal fusion procedures, growing patient population for the orthopaedic fixation procedures, high awareness among American population, high disposable income, are some of the many factors that drive the growth of the market in this region.
Europe is expected to hold the second largest market share in the global bone growth stimulator market. The market growth in this region is majorly attributed to the increasing government support for the device manufacturers. Geographical expansion of companies has led to the wider reach of the medical products and services which has brought a huge change in terms of the acceptance and implementation of the new products as well as procedures. Similarly, Asia-Pacific region has observed a rapid growth in the market owing to the development in the medical sector in developing countries like India and China. Moreover, increase in government funding for healthcare, rising R&D expenditure, and growing number of medical device companies in the region has led to its fastest growth during the forecast period. The Middle East and Africa region is anticipated to show minor growth opportunities in the market during the forecast period.
Global Bone Growth Stimulator Market, by Product:
Global Bone Growth Stimulator Market, by Application:
Global Bone Growth Stimulator Market, by End User:
Global Bone Growth Stimulator Market, by Region:
Global bone growth stimulator market, by Key Players:
|Market Size||USD 1.14 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application and End user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Arthrex, Inc., Bioventus LLC, Depuy Synthes (A Subsidiary of Johnson & Johnson), DJO Finance LLC, Harvest Technologies (A Terumo BCT Company), Isto Biologics, Medtronic PLC, Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.|
|Key Market Opportunities||
|Key Market Drivers||The hospital & clinic segment would drive the Bone Growth Stimulator Market ahead|
Bone Growth Stimulator Market valuation will be 1.14 billion by 2030
Bone Growth Stimulator Market is projected to grow with 5.6% CAGR during the forecast period of 2022 to 2030.
The hospital & clinic segment would drive the Bone Growth Stimulator Market ahead
The spinal fusion surgeries segment would have the maximum Bone Growth Stimulator Market share.
Infrastructural and investment advantages would give the Americas and edge in the global Bone Growth Stimulator Market.