Bone Growth Stimulator Market Size, Share, Growth, Trends, Competitive Landscape, Revenue, Forecast Report 2027

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[150+ Pages Research Report] According to the recent analysis research report; the global Bone Growth Stimulator Market in 2020 was approximately USD 1.9 Billion. The market is expected to grow at a CAGR of 6.2% and is anticipated to reach around USD 2.7 Billion by 2027. Top market players are Orthofix Medical, Inc. , DJO Finance, LLC , Zimmer Biomet , Bioventus LLC , Medtronic plc , Stryker , DePuy Synthes , Arthrex, Inc. , Isto Biologics , Terumo Corporation , Ember Therapeutics, Inc. , Ossatec Benelux Ltd. , Altis Biologics  Ltd.

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Growth Factors:

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.

BGS Market Dynamics
Driver: Growing patient preference for non-invasive and minimally invasive surgical treatments
The demand for minimally invasive procedures has witnessed a significant increase owing to the advantages offered by these procedures over traditional treatment procedures. The key advantages of minimally invasive procedures include fewer operative complications, shorter hospitalization, less pain, smaller and more cosmetic incisions, lower risk of infection, reduced postoperative care, and quicker recovery. Minimally invasive procedures make use of advanced technologies to diagnose and treat various diseases, including cancer. These procedures are used as an effective approach for removing cancer tumors and lymph nodes without scarring.

Restraint: Limited medical reimbursement for bone stimulation products
Medical reimbursement is among the major factors that affect the adoption and demand of specific diagnostic or therapeutic products among patients and healthcare providers at a country level. A majority of healthcare insurance providers in mature countries (such as the US and Australia) cover bone growth stimulation products under specific criteria. For instance, in the US, bone growth stimulation devices are covered under insurance if target bones are separated by less than 1 centimeter or are non-infected. Medicare (US) also covers bone growth stimulation devices under Part B schedule and offers device rent on prescription for specified indications. Similarly, the Transport Accident Commission (Australia) provides funding for implantable or externally applied bone growth stimulation equipment in case of transport accident injuries in the country. However, many private insurance providers do not include insurance or reimbursement for bone growth stimulation surgeries.

Opportunity: Emerging markets
Emerging economies (such as China, India, Brazil, and Mexico) are expected to offer significant growth opportunities in the bone growth stimulators market. Factors such as the presence of a large patient population, rising healthcare expenditure, government initiatives to support the healthcare industry, strengthening export trade, and growing awareness among physicians, surgeons, and patients about the latest treatment options for spinal fusion and bone healing are expected to boost the demand for bone growth stimulation products in these countries. In addition, owing to the significant cost advantages, many patients from developed markets are reported to travel to these emerging markets to undergo medical treatment.

Challenge: Side effects associated with BMP-based orthopedic treatment
Although BMPs are increasingly being used in spinal fusion and bone healing, they are associated with certain side effects. Tissue swelling, male infertility, and implant dislodgement are the major side effects associated with BMPs during spinal fusion surgery. During bone healing, BMPs are reported to cause antigenic reactions and stimulation of oncogenes. Medtronic reported several clinical complications associated with its BMP product during its use in spinal fusion surgeries for bone healing.

The bone growth stimulation devices segment to capture the largest share in the bone growth stimulator market, by product, during the forecast period
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, by application in 2021
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.

The Hospitals segment accounted for the largest share of the bone growth stimulator, by end user, in 2021
Bone growth stimulation products are used in hospitals for various applications, including spine surgeries, oral and maxillofacial surgeries, dental practices, and bone fractures. Hospitals & ASCs accounted for the largest share of the bone growth stimulators market in 2021. The advantages of bone growth stimulation products over their counterparts, the rising patient population, growing procedural volumes of spinal fusion surgeries, growing prevalence of spinal disorders, and growing awareness on bone growth stimulation products are the key factors driving the growth of the bone growth stimulators market for hospitals & ASCs.

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COVID-19 Impact on Bone Growth Stimulator Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Bone Growth Stimulator market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Bone Growth Stimulator market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Bone Growth Stimulator market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Bone Growth Stimulator market include:

Orthofix Medical, Inc. , DJO Finance, LLC , Zimmer Biomet , Bioventus LLC , Medtronic plc , Stryker , DePuy Synthes , Arthrex, Inc. , Isto Biologics , Terumo Corporation , Ember Therapeutics, Inc. , Ossatec Benelux Ltd. , Altis Biologics  Ltd. , Regen Lab SA , ITO Co., Ltd. , Elizur Corporation , BTT Health GmbH , Stimulate Health Inc. , VQ OrthoCare, Kinex Medical Company, LLC among others.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

By Product

  • Bone Growth Stimulation Devices
  • External Bone Growth Stimulators
    • Capacitive Coupling Devices
    • Combined Magnetic Field Devices
    • Pulsed Electromagnetic Field Devices
  • Implanted Bone Growth Stimulators
  • Ultrasonic Bone Growth Stimulators
  • Bone Morphogenetic Proteins
  • Platelet-rich Plasma

By Application

  • Spinal Fusion Surgeries
  • Delayed Union & Nonunion Bone Fractures
  • Oral & Maxillofacial Surgeries
  • Other Applications

By End User

  • Hospitals & ASCs
  • Home Care Settings
  • Academic & Research Institutes

Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/bone-growth-stimulator-market

Why Buy this Report?

The purpose of Nova one advisor’s Bone Growth Stimulator market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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