Key players in the market are focused on product launch and approval to expand their product portfolio. Major players operating in the global bone growth stimulators market include, DJO LLC, Orthofix International N.V., Zimmer Biomet Holdings Inc., Elizur, Bioventus LLC., Precyse Solutions LLC., Ossatec Benelux BV, Verve Consulting Inc., and IGEA S.p.A. Global Bone Growth Stimulators Market: Competitive Landscape
For instance, in August 208, in the study ‘Osteogenic Effect of ZnO-Mesoporous Glasses Loaded with Osteostatin’, researchers from Instituto de Investigación Hospital, assessed the biological consequences of the concurrent inclusion of ZnO and osteostatin impregnation in mesoporous bioactive glasses – a family of bioceramics that are clinically used as scaffolds for bone regeneration. Increasing R&D bone growth stimulation is expected to boost growth of the market.
Some of these include, Regence, United Healthcare, Humana, Aetna, and Blue Cross. There are several insurance cover policies that offer reimbursement for electrical and ultrasound bone growth stimulators for non-union or delayed union fractures. Noninvasive Electrical Bone Growth Stimulators segment in the global bone growth stimulators market was valued at US$ 660.1 Mn in 2018 and is expected to reach US$ 1,528.3 Mn by 2027 at a CAGR of 9.8%% during the forecast period. For instance, in November 2019, Advanced Biomedical Technologies Inc., a manufacturer of novel orthopedic internal fixation devices, announced the official launch of its sales campaign. Moreover, increasing awareness regarding the use and benefits of bone growth stimulators and new technologically advance product launch is also expected to aid in market growth.
Generally, bone growth stimulator cost around US$ 6,000 and hence, reduction in cost of the devices presents major business opportunities. Furthermore, scientific data for the effectiveness of bone growth stimulator is low and long-term use could lead to adverse effects such as numbness, tingling, increased pain, migraines, headache, and nausea, which is expected to restrain growth of the global bone growth stimulator market in the near future. In 2018, North America accounted for the largest share of 42.3% in the global bone growth stimulators market, followed by Europe.Īvailability of alternative therapies such as physiotherapy, Ayurveda treatment, and chiropractic are expected to hamper the global bone growth stimulator market growth over the forecast period. For instance, according to the same source, by 2050, the population of Egypt is expected to reach 130 million, of which over 30% will be aged 50 years and over. Moreover, high incidence of the osteoporosis and osteopenia was detected among patients admitted to the geriatric department.įurthermore, increasing geriatric population is also expected to contribute to growth of the market. According to the study ‘Epidemiology and awareness of osteoporosis: a viewpoint from the Middle East and North Africa’ published in the International Journal of Clinical Rheumatology, in 2018, the prevalence of osteoporosis was 15.1% among women and 10.7% among men in Turkey. Growing cases of osteoarthritis and osteoporosis is expected to drive growth of the global bone growth stimulator market during the forecast period.
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Get FREE Sample Report with Latest Covid19 Impact Analysis The global bone growth stimulators market is estimated to account for US$ 2,975.5 Mn in terms of value and 1,165,560 Units in terms of volume by the end of 2027.
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