Global Bone Growth Stimulators Market 2018-2022
About Bone Growth Stimulators
Bone growth stimulators are used to heal trauma injuries and fractures as they enhance the bone healing process. They are available as internal and external devices.
Technavio’s analysts forecast the global bone growth stimulators market to grow at a CAGR of 5.37% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global bone growth stimulators market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of bone growth stimulators.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bone Growth Stimulators Market 2018-2022
Technavio recognizes the following companies as the key players in the global bone growth stimulators market: Bioventus, DJO Global, Johnson & Johnson, Medtronic, Orthofix International, Stryker, and Zimmer Biomet
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing adoption of MI and robotic surgeries. Healthcare providers, governments, patients, and other key stakeholders have encouraged the shift from traditional open surgeries, which cause pain and require an extended stay in hospitals, to MI surgeries, which require a short hospital stay. The increased demand for such surgeries is due to the increasing number of complications associated with traditional open surgeries. For instance, conventional open surgeries can cause various post-surgical complications such as pain, blood clots, fatigue, muscle atrophy, and infections. Several research studies have also demonstrated the advantages of MI surgeries over conventional open surgeries.”
According to the report, one of the major drivers for this market is Growing demand from emerging markets. Emerging economies play a vital role in driving the growth of the global bone growth stimulators market. Vendors are focusing on expanding their businesses in emerging economies to improve their presence and increase their revenue. The increasing prevalence of orthopedic disorders in emerging economies, the growth of the geriatric population of Asia, the increasing number of surgeries in developing countries such as China and India, and the increasing patient pool of emerging economies are increasing the demand for bone growth stimulators
Further, the report states that one of the major factors hindering the growth of this market is High cost and limited reimbursements. The high prevalence of orthopedic disorders has increased the demand and adoption of devices such as bone growth stimulators, bone grafts, and substitutes such as BMP and PRP. However, the high cost of devices is a challenge for the growth of the market. Besides the cost of the bone growth stimulator, the cost of spinal fusion surgeries to repair the vertebrae ranges between $26,000 and $34,000. Spinal fusion surgery also includes associated indirect and direct costs such as admission fees, physician fees, and post-hospital rehabilitation expenses. Hence, the overall cost increases
Bioventus, DJO Global, Johnson & Johnson, Medtronic, Orthofix International, Stryker, and Zimmer Biomet
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