Bone Growth Stimulator Market To Reach $ 1,695.3 Million By 2026 | CAGR: 5.5% | Medtronic plc, Zimmer Biomet Holdings, Harvest Technologies Corporation
: New York, United States, 31-July-2020, (Via WiredRelease), (Reports and Data) – The Bone growth stimulator market is projected to grow at a CAGR of 5.5%, in terms of value, from USD 1117.0 Million in 2018 to reach USD 1,695.3 Million by 2026. Bone growth stimulation is emerging as a preferred method to stimulate natural healing process of bone through passing lowâ€‘level pulses of electromagnetic energy to the site of injury or fusion. It provides an alternative for painful ortho-surgical procedures and assist bone healing, for which preventive & therapeutic bone growth stimulation technologies are developed by various market players.
The market is driven by several factors that includes advantages provided by bone growth stimulation techniques over conventional methods, Increasing incidences of target diseases/condition, rising demand for minimally invasive surgeries and advancement in bone growth stimulation technologies. For instance, in June 2017, announced a clinical trial study for the company’s bone growth stimulator. Similarly, in January 2017, Orthofix received FDA approval and CE Mark Approval for sales of its Bone Growth Stimulators in the regions.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Orthofix International N.V., Medtronic plc, Zimmer Biomet Holdings, Inc., Harvest Technologies Corporation, DJO Finance LLC, Isto Biologics, Arthrex, Inc., Bioventus LLC, DePuy Synthes, and Stryker Corporation.
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For the purpose of this report, Reports and Data have segmented into the global Bone Growth Stimulator market on the basis of type, propellants, application, and region:
Type Outlook (Revenue, USD Million, 2016 – 2026)
Bone Growth Stimulation DevicesExternal Bone Growth StimulatorsImplanted Bone Growth StimulatorsUltrasonic Bone Growth StimulatorsBone Morphogenetic Proteins (BMP)Platelet-rich Plasma (PRP)
Application Outlook (Revenue, USD Million, 2016 – 2026)
Spinal Fusion SurgeriesDelayed Union & Nonunion Bone FracturesOral and Maxillofacial SurgeriesOthers
End User Outlook (Revenue, USD Million, 2016 – 2026)
Hospitals and ClinicsHome Care SettingsAcademic Institutes & Research CentersOthers
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key Question the Report Will Answers
At what rate will the Bone Growth Stimulator Market grow? What will be the value of the market in 2027?
What are the key technologies driving Bone Growth Stimulator?
What would be the impact of Bone Growth Stimulatoracross different regions?
What are the strategies adopted by players to enter the APAC region?
What is the key application of Bone Growth Stimulatorin the transportation sectors?
What are future growth strategies in the market?
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