Bone Growth Stimulator Market Forecast 2023, opportunities with Huge Profit and Marginal Revenue
The key players focused on various strategies such as product launches and enhancements; agreements & partnerships; strategic acquisitions; and market expansions to increase their shares in the global Bone Growth Stimulator Market
The Research Report Consist of 153 pages, which covers Global Bone Growth Stimulator Market overview, the growing patient preference for non-invasive and minimally invasive surgical treatments, increasing target patient population, and procedural benefits offered by bone stimulation devices in bone fracture treatments are some key factors propelling the growth of this market.
Product launches & geographical expansions are the strategies adopted by major industry players to achieve desired market growth
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Procedural benefits offered by bone stimulation devices in bone fracture treatment
Bone growth stimulation devices offer a cost-effective and safer alternative mode to treat orthopedic diseases as compared to traditional surgical therapies for nonunion bone fractures. These devices have been reported to shorten the patient’s hospital stay as well as lessen the risks of complications and infections. This is expected to aid the adoption of bone growth stimulation products among key end users. This is also augmented by clinical evidence that validates the clinical efficacy of bone growth stimulation products in the effective and rapid bone regeneration as compared to traditional methodologies.
Bone Growth Stimulator Market Based on Product;
On the basis of product, the global Bone Growth Stimulator Market is segmented into bone growth stimulation devices, bone morphogenetic protein (BMP), and platelet-rich plasma (PRP). The bone growth stimulation devices segment is expected to account for the largest market share in 2016. This can primarily be attributed to the growing aging population globally, rising preference for non-surgical treatment procedures, and the growing prevalence of nonunion fractures.
Bone Growth Stimulator Market Based on Application;
On the basis of application, the global Bone Growth Stimulator Market is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, dental and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment is expected to grow at the highest CAGR during 2017 to 2022, owing to the growing geriatric population, a rising number of spine procedures (and rate of spinal fusion failure), established safety and efficacy of stimulators in fusion surgery, and increasing use of bone growth stimulation products.
Hospitals and Clinics Form the Fastest Growing End-User Segment.
· Home care
Home care end-users segment include patients who use external bone growth stimulators based on a physician’s prescription. Physicians recommend these stimulators to patients who have undergone spinal fusion surgery or are suffering from bone fractures that have failed to heal in the normal period (delayed or nonunion fracture). This segment is expected to witness growth due to rising physician preference for bone growth stimulators over their counterparts, the cost-effectiveness of external stimulators in the case of nonunion fractures, government recommendations for the use of external stimulators, and the availability of reimbursement and insurance coverage.
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