Bone Growth Stimulators Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Bone Growth Stimulators Market Report Overview
The bone growth stimulators market size was $294.6 million in 2023. The market is expected to grow at a CAGR of more than 2% during 2023 and 2033. Bone growth stimulators are mainly used to facilitate bone growth in impaired or delayed healing fractures/fusions. These stimulators apply electrical or ultrasound waves to the site of the fracture/fusion.
Bone Growth Stimulators Market Outlook, 2023-2033 ($ Million)
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The bone growth stimulators market research report explains the market behavior, which will help identify quantitative market trends within the orthopedic devices therapeutic area. The model discusses in detail the impact of COVID-19 on the bone growth stimulator market for the year 2020 and beyond. The report has extensively covered pipeline products and technologies, which will help in identifying companies with the most robust pipeline. This, in turn, will assist in predictive analysis for designing in-licensing and out-licensing strategies.
Market Size (2023) | $294.6 Million |
CAGR (2023-2033) | >2% |
Forecast Period | 2023-2033 |
Historical Period | 2015-2022 |
Key Regions | · North America
· Europe · Asia Pacific · South America · Middle East and Africa |
Key Segments | · External Bone Growth Stimulators
· Implantable Bone Growth Stimulators |
Leading Companies | · Orthofix Holdings Inc
· Bioventus Inc · ZimVie · DJO Global Inc |
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Bone Growth Stimulators Market Dynamics
Factors such as the rising elderly population, increase in incidences of osteoporosis, and spinal disease, as well as growing patient awareness regarding the availability and benefits of stimulation treatments, are driving the bone growth stimulators market growth. However, the lack of efficacy data for bone growth stimulator devices and healthcare cost-containment pressures in developed healthcare systems may challenge the growth. R&D investments to improve the efficacy of bone growth stimulators will help product manufacturers gain a competitive edge.
Bone Growth Stimulators Market Segments
The bone growth stimulators market primarily consists of external bone growth stimulators and implantable bone growth stimulators. The external bone growth stimulators segment led the bone growth stimulators market in 2023. External bone growth stimulators are widely preferred by physicians over implantable devices, as implantable stimulators carry a higher price tag and require additional surgery, increasing the risk of infection.
Bone Growth Stimulators Market Analysis by Segments, 2023 (%)
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Bone Growth Stimulators Market Segmentation by Regions
The key regions in the Bone Growth Stimulators market are North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America dominated the market in 2023. The growth can be attributed to the increasing demand for nonsurgical, non-invasive techniques. Additionally, North America recorded a surge in the demand for bone growth stimulators in 2019 and 2020, because of the high number of spinal fusion procedures. This trend is expected to continue and promote the external bone growth stimulator market growth in the coming years.
Bone Growth Stimulators Market Analysis by Regions, 2023 (%)
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Bone Growth Stimulators Market - Competitive Landscape
A few of the leading companies in the bone growth stimulators market are:
- Orthofix Holdings Inc
- Bioventus Inc
- ZimVie
- DJO Global Inc
Orthofix Holdings Inc. accounted for the highest share of the bone growth stimulators market in 2023, followed by ZimVie.
Bone Growth Stimulators Market Analysis by Companies, 2023 (%)
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Segments Covered in the Report
Bone Growth Stimulators Segments Outlook (Value, $ Million, 2015-2033)
- External Bone Growth Stimulators
- Implantable Bone Growth Stimulators
Bone Growth Stimulators Regional Outlook (Value, $ Million, 2015-2033)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Key Inclusions
Key Inclusions of the market model are:
Currently marketed Bone Growth Simulators and evolving competitive landscape:
– Insightful review of the key industry trends.
– Annualized total Bone Growth Simulators market revenue by segment and market outlooks from 2015-2033.
– Market-level data on units, average selling prices, and market values.
Global, Regional, and Country level market specific insights:
– Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
– SWOT analysis for the Bone Growth Stimulators market.
– Competitive dynamics insights and trends provided for the Bone Growth Stimulators market.
Understand the market by getting the veritable big picture including an overview of the healthcare system. In addition, the Market Access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.
– Country-specific overview of the healthcare system.
– Country-specific reimbursement policies.
– Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, real-world data sources are leveraged to determine market trends; these include government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered: Orthofix Medical Inc., Bioventus Inc., ZimVie Inc, DJO Global Inc., and Others
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina and Chile.
Scope
This report provides:
- Insightful review of the key industry trends.
- Annualized total Bone Growth Stimulators market revenue by segment and market outlooks.
- Market-level data on units, average selling prices, and market values.
- Global, regional, and country-level market-specific insights including qualitative market-specific information with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- SWOT analysis for the Bone Growth Stimulators market.
- Competitive dynamics insights and trends provided for the Bone Growth Stimulators market.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Reasons to Buy
The model will enable you to –
- Understand the impact of COVID-19 on the Bone Growth Stimulators market.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the Bone Growth Stimulators market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies that are likely to impact the Bone Growth Stimulators market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counterstrategies to gain a competitive advantage.
- Track device sales in the global and country-specific Bone Growth Stimulators market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
Frequently asked questions
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What was the bone growth stimulators market size in 2023?
The bone growth stimulators market size was valued at $294.6 Million in 2023.
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What will the bone growth stimulators market growth rate be during the forecast period?
The bone growth stimulators market is expected to grow at a CAGR of more than 2% during 2023 and 2033.
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Which segment had the largest share of the bone growth stimulators market in 2023?
The external bone growth stimulators segment led the bone growth stimulators market in 2023.
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Which region had the largest share of the bone growth stimulators market in 2023?
North America had the largest share of the bone growth stimulators market in 2023.
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Which are the major players operating in the Bone Growth Stimulators market?
A few of the leading companies in the Bone Growth Stimulators market are Orthofix Medical Inc., Bioventus Inc., ZimVie, and DJO Global Inc. among others.
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