LOS ANGELES, June 20, 2019 /PRNewswire/ -- According to the recently published report by QY Research titled, "Global Distraction Osteogenesis Devices Market Research Report 2019," the global Osteogenesis Devices market is likely to grow remarkably during the forecasted period. Also called as distraction histogenesis, Distraction Osteogenesis is a medical procedure that is used to lengthen the bones and reconstruct deformities in the skeletal system. After the detailed study of the market, QY Research came up with forecast values, which is ascertaining the overall growth of the market.
The global revenue of Distraction Osteogenesis Devices market was around USD 165 Mn with the actual sale of nearly 30.5 K Unit in the year 2018. The market had registered a moderate CAGR of 5.12 % between 2014 and 2018.
Global Distraction Osteogenesis Devices Market: Drivers and Restraints
Various factors including development in devices used for Distraction Osteogenesis is likely to fuel the growth of the market. This is mainly because these devices are easy to handle and are placeable. Growing incidence of genetic disorders like cleft defects is likely to propel the growth of the market. Besides, several initiatives taken by public organizations to provide effective medical care for deformities in facial structure is anticipated to create a positive impact on the global market for Distraction Osteogenesis Devices. Increasing R & D activities in the arena of Distraction Osteogenesis and easy availability of a wide range of distractors is bolstering the growth of the market.
However, different risks including failure in following the distraction protocol are restraining the growth of the global Distraction Osteogenesis Devices market throughout the projected period.
North America to Dominate Global Distraction Osteogenesis Devices Market During Projected Period
North America is likely to lead the global Distraction Osteogenesis Devices market mainly because of the rising number of surgical processes to treat facial abnormalities in the United States. Besides, there are few hospitals in North America that are focusing on providing essential care for deformities in facial structure, which is likely to boost the growth of the market in the region. On the other hand, the Asia Pacific is anticipated to gain substantial traction in the projected period because of key player's strategy of focusing on establishing businesses in the region in a bid to expand its geographic presence and consumer based.
Global Distraction Osteogenesis Devices market: Segmentation
On the basis of type, the global market for Distraction Osteogenesis Devices is segmented into external distractors and internal distractors, while based on the application the market is segmented into orthopedic clinics and hospitals. Internal distractors segment is expected to grab a remarkable share of the market. On the other hand, the hospital segment is expected to dominate the global market.
Global Distraction Osteogenesis Devices market: Key Players
Ortho Max Manufacturing, KLS Martin Group, Titamed, Johnson & Johnson, Jeil Medical, Stryker, Ningbo Cibei Medical Treatment Appliance, Zimmer Biomet, and Osteomed are some of the top players operating in the global Distraction Osteogenesis Devices Market.
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SOURCE QY Research