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.
Hyderabad, India -- (SBWIRE) -- 03/05/2018 -- The report on "Bone Growth Stimulators Market By Product, By Application, By End User and By Region - Global Industry Analysis, Size, Share, Growth, Trends and Forecasts (2016–2021)", is published by Market Data Forecast. As per the report, the Global Bone Growth Stimulators Market was estimated at USD 1.02 billion in 2016 and is approximated to be growing at a CAGR of 5.3 %, to reach USD 1.32 billion by 2021, within the mentioned forecast period.
Human bone has a natural capability to heal itself once they are injured or broken, by making an electrical field naturally. In case of a delay or failure of fracture healing process, Bone growth stimulators are used to enhance the bone-healing ability by passing electrical shocks or currents or vibrations to the body.
Bone growth stimulator could be one of the important varieties of medical care which is working on the potential generated by bones in order to improve the body's natural healing method. Bone Growth Stimulators are used as an alternative to the surgeries because of their easy accessibility and to reduce complications through the surgeries.
Bone Growth Stimulators are of two types; external and internal. An internal bone growth stimulator is used for joining the bone for regarding six to twelve months and it releases tiny electrical currents. External bone growth stimulator is worn outwardly and doesn't need any surgical implantation.
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The Global Bone Growth Stimulators market is principally driven by factors like growing range of trauma and accident cases across the world, increasing applications within the medical specialty business, improvements in service sector, increasing preference for stimulation treatments, rise in the growth of healthcare spending, Growing geriatric population with the occurrence of orthopedic problems, high in-capacity cost payments. Also, Low risk of infections, a small amount of blood loss, smaller incisions, reduced scarring, speedy recovery, and shorter occupation in the hospital are some of the benefits offered by invasive surgeries.
However, complications in the attachment of the bone, availability of alternative choices, equipment-related issues, and complications related to the usage of bone morphogenetic proteins (BMP), doubtfulness of effectiveness are impeding the growth of the market.
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The segmentation of Global Bone growth stimulators market is done on the basis of application, product and end-user. Based on end-user, the Bone growth stimulators market is categorized into Academic institutions, Hospitals, Home Care, Research Institutes and CROs, and Clinics. On the basis of Product, the global Bone Growth Stimulation Devices is bifurcated into Platelet-rich Plasma, and Bone Morphogenetic Proteins. On the root of Application, the market is categorized as, Oral surgeries, Delayed Union Bone fractures, Maxillofacial Surgeries, Spinal Fusion Surgeries, Non-union Bone Fractures and Other Applications.
Based on geography, the global Bone growth stimulators market is segmented into varied regions namely Middle East and Africa, North America, Europe, Latin America and Asia-Pacific. As of 2016, the global bone growth stimulators market was lead by North America because of the growing geriatric population, raising the occurrences of inflammatory disease and sports injuries and increasing demand for fewer invasive spinal surgeries. However, the Asia-Pacific market is calculable to grow at the best CAGR throughout the forecast period as a result of an enormous patient pool for the diseases, growing awareness regarding treatment choices and government support.
Some of the prominent firms dominating the market are Zimmer Biomet Holdings Inc., DJO LLC, and IGEA S.p.A, Orthofix International N.V., Verve Consulting Inc., Bioventus LLC., Elizur, and Ossatec Benelux BV.
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