New York, July 20, 2023 (GLOBE NEWSWIRE) -- The global bone growth stimulator market size is projected to expand at ~7% CAGR between 2023 and 2033. The market is expected to garner a revenue of USD 5 billion by the end of 2033, up from a revenue of ~USD 2 billion in the year 2022. The market growth can be attributed to the globally rising ubiquity of musculoskeletal disorders as well as the growing cases of arthritis and chronic tendinitis, stenosis, pseudarthrosis, and others, together with the rising popularity of minimally invasive therapeutic procedures.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4601
It has been observed that over 150 different diseases and conditions influence the musculoskeletal system. Moreover, as per the World Health Organization (WHO) data, musculoskeletal conditions affect some 1.71 billion people worldwide, becoming the main cause of disability.
Global Bone Growth Stimulator Market: Key Takeaways
- Market in North America to propel the highest growth
- Spinal Fusion Surgeries segment to garner the highest growth
- Market in Asia Pacific to grow at the highest rate
The Growing Number of Orthopaedic Surgeries to Boost Market Growth
The growth of the market is primarily ascribed to the rising incidences of bone fractures worldwide owing to various reasons such as falls, accidents, or sports injuries besides certain health issues and repeated motions such as jumping, or exercising together with the increasing number of people undergoing orthopedic surgeries. As per a study it was observed that around 180 million worldwide suffered new bone fractures in 2019 (a boost of 34 % since 1990). Moreover, taking the example of Chile, out of a total of 1,330,00 hospital discharges identified in 2020, ~99,333 were of orthopedic surgical procedures (7.47%). Although the outbreak of COVID-19 diminished the number of orthopedic procedures during 2020, the demand for external bone growth stimulators surged amidst individuals undergoing homecare bone healing therapies.
Global Bone Growth Stimulator Market: Regional Overview
The global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Osteoporotic Bone Prevalence in the Population to Drive Growth in the North America Region
The bone growth stimulator market in the North American region is estimated to garner the largest revenue by the end of 2033. The rising prevalence of bone disorders such as osteoporosis and osteoarthritis, as well as the increased incidences of accidents in the young and aging population that necessitate orthopedic procedures, the rising affordability of regenerative medicine, and the decreasing cost of bone growth stimulators, can all be attributed to the region's market growth. It was found that in America, every year osteoporosis-related cost hit around ~USD 19 billion and is responsible for ~2 million broken bones. Moreover, it is predicted that osteoporosis will be responsible for nearly 3 million fractures and almost USD 25 billion in costs annually by 2025. Additionally, it is observed that over 30 million individuals have osteoarthritis in the United States.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4601
Increasing Cases of Various Fractures to Drive Asia-Pacific Growth
The bone growth stimulator market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2033. The burgeoning aging population in the region as well as increasing incidences of age-related orthopedic complications such as fractures, spinal disorders, osteoarthritis, rheumatoid arthritis, osteoporosis, and others are driving the demand for orthopedic surgeries such as knee replacement, hip replacement, etc. in the Asia Pacific region. It was found that there will be more than 330 million Chinese individuals crossing the age of 65 by 2030. Moreover, it was found that around 600,000 people in China suffer from hip fractures annually, and more than 70 million people over the age of 50 suffer from osteoporosis, resulting in a high demand for large joint devices. Additionally, the spread of sedentary lifestyles owing to remote jobs, and flourishing ed-tech have led to the ubiquity of pandemic posture in the region, propelling spine & bone injuries requiring orthopedic surgeries as well as medical devices that enhance active healing. This, as a result, is expected to boost regional market growth.
Bone Growth Stimulator Segmentation by Application
- Delayed Union & Non-Union Bone Fractures
- Spinal Fusion Surgeries
- Oral & Maxillofacial Surgeries
The spinal fusion surgeries segment is anticipated to hold the largest revenue by the end of 2033. The segment growth over the forecast period is backed by the growing concern about spondylolisthesis among the global population as well as the increasing pool of patients undergoing spinal fusion surgeries worldwide. It is observed that each year almost 1.70 million instrumented spinal fusion surgeries are performed in the United States. The rising number of people suffering from lumbar spinal decompression as well as the growing awareness about the availability of various types of bone growth stimulators along with the emergence of advanced surgical techniques and increased evidence supporting the surgical treatment of various spinal pathologies is further estimated to boost the market growth in the upcoming years. For instance, in Australia, more than 35000 people were hospitalized for lumbar spinal decompression (excluding lumbar spinal fusion) in 2017-2018.
Bone Growth Stimulator Segmentation by End-User
- Ambulatory Surgical Centers
- Hospitals
- Orthopedic Clinics
- Home Care
- Others
The hospital segment is anticipated to hold the largest revenue by the end of 2033. The factors applicable to the growth of the segment include the surging number of hospitals that have the right diagnostic and therapeutic devices, in addition to the better-equipped healthcare facilities owing to the rising patient footfall for the treatment of bone injuries and disorders. For instance, the number of full-fledged hospitals in the United States went beyond 6,000 hospitals in 2022. Additionally, with the surging cases of fractures globally along with minimum bone growth stimulator side effects, orthopedists in hospitals promote product recommendations such as bone growth stimulator machines for bone healing in difficult-to-heal fractures or fusions.
Purchase Copy of this Report @ https://www.researchnester.com/purchage/purchase_product.php?token=4601
Growth Stimulator Segmentation by Product
- Bone Growth Stimulation Devices
- Bone Morphogenetic Proteins (BMP)
- Platelet Rich Plasma
A few of the well-known market leaders in the global bone growth stimulator market that are profiled by Research Nester are DJO, LLC, Arthrex, Inc., Bioventus LLC, Medtronic plc, Regen Lab SA, Elizur Corporation, Ember Therapeutics, IGEA S.p.A, Ossatec Benelux BV, Smith & Nephew PLC, and other key market players.
Recent Development in the Global Bone Growth Stimulator Market
- Bioventus LLC a global leader in innovations for active healing had acquired Misonix, Inc. The lateral provides minimally invasive therapeutic ultrasound technologies and regenerative medicine.
- The industry's first FDA-cleared SwiveLoc ACL Repair Kit for the repairing of anterior cruciate ligament (ACL) tears was launched by Arthrex, Inc., a global leader in medical device company and new product development in orthopedics.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
