Electronic Bone Growth Stimulator Market – Global Industry Shares, Market Strategies and Key Players 2018-2024
The Infinium Global Research analyzes the Electronic Bone Growth Stimulator Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global electronic bone growth stimulator market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of electronic bone growth stimulator. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the electronic bone growth stimulator market during the period. the global electronic bone growth stimulator market is projected to grow at a CAGR of 4.18% over the forecast period of 2018-2024.
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Electronic bone growth stimulator (BGS) is an electrical device used to heal trauma injuries and fractures as they enhance the bone healing process. It offers a cost-effective and safer alternative mode to treat orthopedic diseases as compared to traditional surgical therapies for non-union bone fractures. Stimulators are commonly used for hard-to-treat fractures, non-unions, and poorly healing stress fractures of the scaphoid, distal tibia, femur, humerus, and fifth metatarsal shaft. The bone growth stimulating results in an enhanced osteogenic environment with calcification and mineralization of the fibrocartilage repairs the fracture site and increases vascularity. These devices have been reported to shorten the patient’s hospital stay as well as lessen the risks of complications and infections.
Rise in Obesity and the Increase in the Number of Orthopedic Injuries are the Key Driving Forces for the Growth of the Global Electronic Bone Growth Stimulator Market
The rise in obesity and the increase in the number of orthopedic injuries are the key driving forces for the growth of the global electronic bone growth stimulator market. The rise in non-invasive medical practices to enhance the success of bone grafting procedures and the low risk of adverse effects are likely to enhance the demand for BGS. The complication rates in BGS are low as compared to other invasive medical treatment methods. The rapid growth in motor vehicle users results in substantial growth in road accidents leading to spinal injuries which eventually promotes the growth of the BGS market. However, insufficient knowledge about the success rates of BGS and the higher treatment cost are the major setbacks to the growth of the electronic bone growth stimulator market.
Electronic Bone Growth Stimulator Market: Segmentation
The global electronic bone growth stimulator market is segmented on the basis of type and application. On the basis of type the global Electronic Bone Growth Stimulator market is divided into bone growth stimulation devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). On the basis of application, the global Electronic Bone Growth Stimulator market is categorized into neurological surgeries, oral surgeries, and non-union fractures. The bone growth stimulation devices segment accounted for the largest share of the market owing to an increase in demand for non-invasive surgical treatments for bone healing. Additionally, these devices are usually lightweight, battery-powered, portable, and easy to handle, as a result, they are being increasingly adopted by patients. Moreover, Electronic Bone Growth Stimulator devices are less expensive as compared to invasive internal devices, which is projected to increase their adoption in developing countries such as South Africa, India, and China.
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North America Has the Largest Share of the Electronic Bone Growth Stimulator Market
The global electronic bone growth stimulator market is divided into North America, Europe, Asia Pacific, and the Rest of the World, on the basis of geography. North America has the largest share of the market attributing to improved reimbursement policies and an upsurge in investments in the healthcare-service sector. The region is projected to maintain its lead in terms of overall market share largely due to the growing awareness among the end-users regarding chronic injuries and bone fractures, and the growing investments by major manufacturers in the research and development of technologically advanced devices). Moreover, the increase in the prevalence of osteoporosis and VCFs has contributed to an upswing in the demand for electronic bone growth stimulators used for enhanced healing, which boosts the market growth.
Electronic Bone Growth Stimulator Market: Competitive Analysis
The major players in the electronic bone growth stimulator market are Zimmer Biomet, Ossatec, Exogen, Bioventus LLC, Orthofix International, DJO Global, Medtronic, Stryker, Terumo BCT, and Arthex, Inc. are among the others. In June 2018, Stryker completed the acquisition of Entellus Medical which provides minimally invasive therapeutic solutions.
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=> Comprehensive analysis of global as well as regional markets of the electronic bone growth stimulator.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.