Bone Growth Stimulator Market Growing at a CAGR of 5.4% During 2017 to 2022 - ReportsnReports
PUNE, India, May 11, 2017 /PRNewswire/ --
Bone Growth Stimulator Market is expected to reach $1.41 Billion by 2022, growing at a CAGR of 5.4% during the forecast period. The PRP segment is expected to grow at the highest CAGR primarily owing to the increasing use of PRP in sports injuries led by North America region.
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The global bone growth stimulators market is estimated to reach USD 1.41 billion by 2022, growing at a CAGR of 5.4% during the forecast period. The growing patient preference for non-invasive and minimally invasive surgical treatments, increasing target patient population (including rising aging population and prevalence of obesity and diabetes) and cost-effectiveness and advantage of bone stimulation devices in bone fracture treatments over other alternative treatment options are some key factors propelling the growth of this market.
In this report, the market has been segmented on the basis of product, end user, application, and region. On the basis of application, the global bone growth stimulators market is segmented into spinal fusion surgeries, delayed union and non-union bone fractures, dental and maxillofacial surgeries, and other applications. In 2016, the spinal fusion surgeries segment accounted for the largest share of the market. This growth can be attributed to the established safety and efficacy of stimulators in fusion surgery, rising patient cases related to bone fracture, and growing number of spine procedures performed across the globe.
On the basis of product, the global market is segmented into bone growth stimulation devices, bone morphogenetic protein (BMPs), and platelet-rich plasma (PRP). The PRP segment is expected to grow at the highest CAGR during the forecast period primarily owing to the increasing use of PRP in sports injuries and the expansion of its applications (due to a growing number of clinical trials).
On the basis of application, the global bone growth stimulator market is segmented into spinal fusion surgeries, delayed union and non-union bone fractures, dental and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment is expected to grow at the highest CAGR during 2017 to 2022, owing to the growing geriatric population, rising number of spine procedures (and rate of spinal fusion failure), established safety and efficacy of stimulators in fusion surgery, and increasing use of bone growth stimulation products.
On the basis of end user, the global bone growth stimulator market is segmented into hospitals & clinics, home care, and academic & research institutes and CROs. In 2016, the hospitals & clinics segment accounted for the largest of the market. The advantages of bone growth stimulation products over their counterparts are the key factor driving their adoption in this end-user segment.
Geographically, North America commanded the largest share of the global bone growth stimulators market in 2016, followed by Europe. The growing elderly population, increasing incidence of arthritis and sports-related injuries, adoption of novel treatment options, and rising demand for minimally invasive spinal surgeries are some of the major factors driving the demand for bone growth stimulators in North America.
Order a copy of Bone Growth Stimulator Market by Product (Device, Boner Morphogenetic Protein, PRP), Application (Spinal Fusion, Delay Union & Non-union Bone Fracture, Oral-maxillofacial), End User (Hospitals, Home Care, Academia, CROs) - Global Forecasts to 2022 Research Report At:
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Orthofix International N.V. (U.S.), Medtronic plc (Ireland), Zimmer Biomet Holdings, Inc. (U.S.), DJO Finance LLC (U.S.), Bioventus LLC (U.S.), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), Isto Biologics (U.S.), and Harvest Technologies Corporation (U.S.) are some of the players operating the bone growth stimulator market.
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