Bone Growth Stimulator Market Trends

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 influence 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, a boost in musculoskeletal disorders is a major factor that 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 a lifestyle disorder, often affects the musculoskeletal integrity of the body, increasing the risks of diseases such as osteoarthritis as well. It also has an impact on how the body derives energy from food. Diabetes affects insulin production in the body, which leads to an increase in blood sugar. Diabetes causes the body to either produce insufficient insulin or utilize it improperly. When cells cease reacting to insulin or there is insufficient insulin, high levels of blood sugar remain in the body and can be harmful. For instance, diabetes affects nearly 422 million people worldwide, and it is directly responsible for 1.5 million annual mortalities.
• Growing Prevalence of Obesity is a medical condition that raises the chance of several illnesses and conditions, including cardiovascular diseases and diabetes. A person is said to be suffering from obesity when the amount of fat in their body increases beyond a certain level. Obesity often develops from a combination of dietary and physiological variables, along with poor lifestyle choices. One of the number one causes of mortality globally; obesity can cause a lot of ill effects on the body. 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 With over 100 different types, arthritis is a medical term describing soreness, stiffness, and joint inflammation. It can impact a person of any gender or race, and older people are at a higher risk of developing arthritis. It has an impact on connective and surrounding tissues. The disease can severely hamper activity levels and range of motion in joints.  For instance, globally, more than 360 million individuals are suffering from arthritis.
• Worldwide Growing Healthcare Expenditure Health and welfare are being given top priority worldwide as everyone realizes the importance of well-being post-pandemic. By the World Bank, worldwide health expenditure increased by 9.83% in 2019.

Challenges

• Inadequate Medical Settlement Associated with Bone Stimulation Products – People who do not have insurance coverage or who face insufficient medical settlements when claiming their insurance may be unable to afford proper orthopedic care, thus limiting the growth of the market.
• Stringent Approval Process of Government - When a medical product is approved by any government organization, it implies that it has been analyzed and found suitable for public use, and that the positives of the product outweigh any known negatives or dangers. This process can take a long time. Hence the long duration for approval and medical trials can pose to be a challenge for the global bone stimulator market.
• Availability of Alternative Products