According to the new market research report “Bone Growth Stimulator Market by Product (Device, Bone Morphogenetic Protein, PRP), Application (Spinal Fusion, Delay Union & Non-union Bone Fracture, Oral-maxillofacial), End User (Hospitals, Home Care, Academia, CROs) – Global Forecast” published by MarketsandMarkets™.
The Global Bone Growth Stimulator Market is estimated to reach USD 1.41 billion, at a CAGR of 5.4% during the forecast period.
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.
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Market Segmentation in Depth:
On the basis of product, the global bone growth stimulators market is segmented into bone growth stimulation devices, bone morphogenetic protein (BMPs), and platelet-rich plasma (PRP). The bone growth stimulation devices segment accounted for the largest share of the market in 2016. This large share is attributed to the growing aging population, rising preference for non-surgical treatment procedures, and growing prevalence of nonunion fractures. Additionally, the rising incidence of obesity, smoking, and diabetes which delay or inhibit bone healing after surgery or trauma are further driving the market growth.
On the basis of application, the global bone growth stimulators market is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment accounted for the largest share of the market in 2016. The large share of this segment is attributed to the growing geriatric population, 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.
Major Market Developments:
- In 2017, Orthofix International N.V. received CE and FDA approval for its next-generation bone growth stimulators, namely, Cervical-Stim and Spinal- Stim. These devices are used to stimulate and enhance natural healing process of the body post spinal fusion operation.
- In 2016, Bioventus LLC, launched its Ultrasound Bone Healing System, EXOGEN in Saudi Arabia. The product is used in the treatment of delayed unions, non-unions, and joint fusion
- In 2015, Zimmer Holdings merged with Biomet, Inc., a U.S.-based company engaged in the development of musculoskeletal medical products. This merger helped both companies to expand their footprints in the global musculoskeletal devices market and strengthen its position in the bone stimulators market.
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The Bone Growth Stimulator Market is dominated by North America, followed by Europe, Asia, and the Rest of the World. North America is expected to dominate the market in 2016. Asia is expected to grow at a highest CAGR during the forecast period. Factors such as large population base, improving healthcare infrastructure and the rising prevalence of obesity and spinal disorders are key factors driving market growth in the Asia-Pacific region.
Orthofix International N.V. (U.S.), Medtronic plc (Ireland), Zimmer Biomet Holdings, Inc. (U.S.), DJO Finance LLC (U.S.), Bioventus LLC (U.S.), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), Isto Biologics (U.S.), and Harvest Technologies Corporation (U.S.) are some of the players operating the Bone Growth Stimulators Market.
According to the new market research report "Bone Growth Stimulator Market by Product (Device (Implant, External), Bone Morphogenetic Protein, PRP), Application (Spinal Fusion, Delayed Union, Non-union Bone Fracture, Maxillofacial Surgery), Care Setting (Hospital, Homecare) - Global Forecasts to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 1.5 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 5.8% during the forecast period.Browse and in-depth TOC on "Bone Growth Stimulator Market"146 - Tables43 - Figures218 - PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82341383The Rise in the global incidence of AKI and increase in the demand for effective renal replacement therapy among ICU patients and initiatives undertaken by governments to increase the awareness about BGS therapy along with the increase in the launch of advanced BGS system area anticipated to fuel the BGS market growth during the forecast period.The BGS market includes major Tier I and II suppliers of CRRT products are are Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India).These suppliers have their manufacturing facilities spread across regions such as North America and Europe.
The growing patient preference for non-invasive and minimally invasive surgical treatments, the rising prevalence of target conditions, and the growing number of sports and accident-related orthopedic injuries are the key factors driving the growth of the bone growth stimulators market.
However, limited medical reimbursement for bone stimulation devices, high treatment costs associated with BMP and PRP products, and side effects associated with BMP-based orthopedic treatment are the key factors restraining the growth of this market.The growing demand for orthopedic injuries to support the market growth during the forecast period.”The significant rise in demand for BGS in the treatment of orthopedic patients.
Furthermore, many companies are expanding their BGS (PRP products) product portfolios.
For instance, in 2021, Orthofix entered into an exclusive license agreement to commercialize the innovative portfolio of IGEA’s bone, cartilage, and soft tissue stimulation products in the US and Canada.Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=82341383Asia Pacific likely to emerge as the fastest-growing BGS market, globallyGeographically, the emerging Asian countries, such as China, India, Japan and Singapore, are offering high-growth opportunities for Bone Growth Stimulator Market players.
Expansion of healthcare infrastructure and increase in disposable personal income, increase patient population with orthopedic disease, are factors likely to support the growth of market in the region.The prominent players operating in the global Bone Growth Stimulator Market include Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India) among others.Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=82341383Browse Adjacent Markets @ Medical Devices Market Research Reports & ConsultingBrowse Related Reports:Orthopedic Braces & Supports Market by Product (Knee, Ankle, Hip, Spine, Shoulder, Neck, Elbow, Hand, Wrist), Category (Soft, Hard, Hinged), Application (Ligament (ACL, LCL), Preventive, OA), Distribution (Hospital) & Region - Global Forecast to 2025https://www.marketsandmarkets.com/Market-Reports/orthopedic-braces-support-market-24806829.htmlFoot and Ankle Devices Market by Product (Implants, Plates, Screw, Wires, Internal Fixators, Braces, Prosthesis (SACH, Single/Multi-Axial)), Application (Rheumatoid Arthritis, Osteoporosis, Hammertoe), End-User (Hospital, ASCs) - Global Forecasts to 2025https://www.marketsandmarkets.com/Market-Reports/foot-ankle-devices-market-845.htmlAbout MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
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The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
The growing market for cognitive solutions and increasing demand for brain training by next-generation tech-savvy population are contributing to the growth of the cognitive assessment and training market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1039Clinical trials in terms of application is expected to hold the largest market share in the cognitive assessment and training market during the forecast periodClinical trials are mainly used to identify, measure, or monitor cognitive impairments and cognitive changes.
The assessment of cognitive functions is an integral part of decision-making during clinical drug development, as certain drugs can have an impact on the cognitive capabilities of the brain.
The market is expected to contribute the highest revenue for vendors offering clinical trials.Education vertical is expected to grow at the highest CAGR in the marketCognitive assessment solutions and services are used in the education vertical for screening prospective candidates for schools or colleges.
The leading cognitive assessment and training vendors for this vertical are Pearson Assessment and CogniFit.North America is expected to contribute to the largest market share and Asia-Pacific to grow at the highest CAGRNorth America is expected to hold the largest market share and to dominate the cognitive assessment and training market from 2016 to 2021, due to the increasing awareness among population about adopting medication for cognitive diseases.
The new generation in this region is more concerned toward the benefits of cognitive training, which is not just limited to patients with cognitive dysfunctions.
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