The global bone growth stimulator market is expected to register a good CAGR during the forecast period, 2018 to 2023. Bone growth stimulator is beneficial after a multi-level fusion procedure or for patients who have certain comorbidities, such as smoking habit or diabetes. A bone growth stimulator as a supplemental form of treatment helps to enhance the bone healing process.
Increase in Incidence of Bone and Joint Disorders
Globally osteoarthritis is the most common articular disease of people 65 years and older. It represents a main reason for disability in the United States and it affects approximately more than 20 million Americans and it is expected to become double over the next 10 years. So, increasing prevalence of arthritis, globally, is a major factor contributing toward the growth of the market. Rising prevalence of arthritis due to aging and obesity are the key factors contributing to the growth of the market. Growing number of trauma and accident cases is considered as one of the high-impact factors that is likely to boost the demand for these products. The factors, such as increase in incidence of bone and joint disorders, technological advancements in medical field, development of biocompatible synthetic bone grafts and increase in demand for dental bone grafts are some of the other drivers of this market.
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Ethical Issues Related to Bone Grafting
There are many ethical issues in the bone grafting. And, one among them is frequent product recalls have been observed to hamper the overall growth of the market. Recall of products has an adverse effect on a manufacturer’s business and reputation. Limited medical reimbursement for bone stimulation products and high treatment costs associated with BMP and PRP products are also restraining the market.
US Lead the Market in North America Region
The US bone growth stimulator market holds the largest market share in 2017 in North America region due to the presence of high quality healthcare system. In the APAC sector China and India have been identified as potential emerging markets.
Key Developments in the Market:
• February 2018 – Stryker has completed the acquisition of Entellus Medical
Major Players: ARTHREX, INC., BIOVENTUS LLC (U.S.), DEPUY SYNTHES, MEDTRONIC PLC, ORTHOFIX INTERNATIONAL N.V, SMITH & NEPHEW PLC, STRYKER CORPORATION, ZIMMER BIOMET, among others.
Reasons to Purchase this Report
• Current and future bone growth stimulator market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares and strategies employed by the major market players
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Companies Mentioned:
Arthrex, Inc., Bioventus Llc (U.S.), Depuy Synthes, Medtronic Plc, Orthofix International N.V, Smith & Nephew Plc, Stryker Corporation, Zimmer Biomet
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