(PharmaNewsWire.Com, October 19, 2017 ) The Global Bone Growth Stimulators Market was worth USD 1.02 billion in 2016 and estimated to be growing at a CAGR of 5.3%, to reach USD 1.32 billion by 2021. The market is predicted to grow at a significant potential during the specified period. It will keep growing with the recent developments in medical sector.
Bone growth stimulators are used to compensate for the delay or failure of fracture healing since they fasten the bone-healing process without passing any electrical shocks when worn. An internal bone growth stimulator is kept on the fusion site of the bone for about 6 to 12 months and it releases small electrical currents. External bone growth stimulator is worn externally and does not need any surgical implantation.
Financial feasibility for example development in the service sector, growth of disposable income and spending on healthcare sector are estimated to drive the market growth globally. But, many factors like the availability of other options, doubtfulness of efficacy, equipment-related problems and competition from bone grafting act as restraints for the growth of bone growth stimulators market.
The Global Bone Growth Stimulators market is broadly categorized on the basis of Product into Bone Growth Stimulation Devices, Bone Morphogenetic Proteins and Platelet-rich Plasma. The bone growth stimulation devices is further segmented into External Bone Growth Stimulators, Implanted Bone Growth Stimulators and Ultrasonic Bone Growth Stimulators. Based on Application, the market is segmented into Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral and Maxillofacial Surgeries and Other Applications. On the basis of End User, the market is classified into Hospitals and Clinics, Home Care, Academic & Research Institutes and CROs.
Global Bone Growth Stimulators Market Geographical Analysis • North America • Europe • Asia-Pacific • Latin America • Middle East & Africa
As of 2016, the global bone growth stimulators market was led by North America owing to the growing geriatric population, rising instances of arthritis and sports injuries and increasing demand for less invasive spinal surgeries. However, the Asia-Pacific market is estimated to grow at the highest CAGR during the forecast period because of a huge patient pool for the diseases, growing awareness about treatment options and government support
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