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HEALTHCARE & PHARMACEUTICAL

Bone Growth Stimulator Market Analysis by Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), and Platelet-Rich Plasma); by Application (Delayed Union & Non-union Bone Fractures, Spinal Fusion Surgeries, and Oral & Maxillofacial Surgeries); and by End-User (Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Home Care, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Bioventus LLC acquired Misonix, Inc., which provides minimally invasive therapeutic ultrasound technologies and regenerative medicine.
  • Arthrex, Inc. has launched the industry's first FDA-cleared SwiveLoc ACL Repair Kit for the repairing of anterior cruciate ligament (ACL) tears.

Global Bone Growth Stimulator Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

 ~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 5 Billion

The global bone growth stimulator market is estimated to garner a revenue of ~USD 5 Billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. The growth of the market is primarily ascribed to the growing incidences of bone fractures throughout the world. For instance, it was observed in a study, worldwide, approximately 180 million (94% UI 161-197) new bone fractures were reported in 2019 (a boost of 34 % since 1990).

Bone-Growth-Stimulator-Market-Analysis

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A bone growth stimulator is an electrical stimulation treatment used to enhance bone healing in complicated fractures. Basically, it is an alternative therapy which is mostly suggested by the surgeons to speed up the healing process of fractures. Bone growth stimulator is also known as osteogenesis stimulator device and deliver a pain free ultrasound. The notably increasing cases of road accidents and trauma that leads towards the severe bone fractures is boosting up the growth of the global bone growth stimulator market over the forecast period. According to the World Health Organization (WHO) data, globally, around 1.3 million people die in road accidents each year.

Global Bone Growth Stimulator Market: Growth Drivers and Challenges

Growth Drivers

  • Globally Increasing Prevalence of Musculoskeletal Disorders - The function of the neuromuscular system, which consists of healthy muscles, bones, joints, and enclosing connective tissues, is referred to as musculoskeletal health. More than 150 different diseases and conditions have an influence on the musculoskeletal system. Musculoskeletal disorders frequently coexist with other noncommunicable diseases and heighten the chance of developing other noncommunicable diseases, such as cardiovascular disease. Therefore, boost in musculoskeletal disorder is a major factor which is driving the growth of the bone growth stimulator market. According to the data released by the World Health Organization (WHO), musculoskeletal conditions affect approximately 1.71 billion people worldwide, and they are the main cause of disability.
  • Worldwide Spike in Diabetes – For instance, diabetes affecting nearly 422 million people worldwide, and it is directly responsible for 1.5 million annual mortalities.
  • Growing Prevalence of Obesity – For instance, obesity affects more than one billion people worldwide, including 650 million adults, 340 million adolescents, and 39 million children.
  • Mounting Ratio of Arthritis – For instance, globally, more than 360 million individuals are suffering from arthritis.
  • Worldwide Growing Healthcare Expenditure - In accordance with the World Bank, worldwide health expenditure increased by 9.83% in 2019.

Challenges

  • Inadequate Medical Settlement Associated with Bone Stimulation Products
  • Stringent Approval Process of Government
  • Availability of Alternative Products

The global bone growth stimulator market is segmented and analyzed for demand and supply by application into delayed union & non-union bone fractures, spinal fusion surgeries, and oral & maxillofacial surgeries. Amongst these, the spinal fusion surgeries segment is projected to garner the largest market share over the forecast period backed by the staggering count of patient pool undergoing spinal fusion surgeries throughout the world. For instance, every year approximately 1.70 million instrumented spinal fusion surgeries are performed in the United States.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare-Expenditure-Per-Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Bone Growth Stimulator Market Regional Synopsis

Regionally, the global bone growth stimulator market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the increasing stances of road accidents, growing prevalence of several bone disorders, massive surge in orthopedic procedures performed each year, and escalating healthcare expenditure in the region. For instance, nearly 31 million individuals have osteoarthritis in the United States.

Bone-Growth-Stimulator-Market-Scope

The global bone growth stimulator market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global bone growth stimulator market includes the following segments:

By Product

  • Bone Growth Stimulation Devices
  • Bone Morphogenetic Proteins (BMP)
  • Platelet Rich Plasma

By Application

  • Delayed Union & Non-Union Bone Fractures
  • Spinal Fusion Surgeries
  • Oral & Maxillofacial Surgeries

By End-User

  • Hospitals
  • Ambulatory Surgical Centers
  • Orthopedic Clinics
  • Home Care
  • Others

Top Featured Companies Dominating the Global Bone Growth Stimulator Market

  • DJO, LLC
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Arthrex, Inc.
  • Bioventus LLC
  • Medtronic plc
  • Regen Lab SA
  • elizur Corporation
  • Ember Therapeutics
  • IGEA S.p.A
  • Ossatec Benelux BV
  • Smith & Nephew PLC

 

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