According to Acumen Research & Consulting, the worldwide Bone Growth Stimulators Market was worth USD 1,229 Million in 2022 and is expected to reach USD 3,702 Million by 2032, growing at a 12.4% CAGR from 2023 to 2032
The most serious problem caused by bone diseases, particularly osteopenia, is the risk of fractures, which may be the first noticeable sign of the disease in patients. Research indicates that approximately 1.5 million people suffer fractures each year as a result of bone diseases. The risk of fractures tends to increase with age, and women are more susceptible. In the United States, nearly 4 in 10 women aged 50 and older will experience a fracture of the spine, hip, or wrist at some point in their lives. As people live longer, the overall risk of fractures and bone diseases increases for individuals of all ethnic groups. However, it is expected that the incidence of osteoporosis and low bone mineral density will continue to rise, primarily due to the aging of the population. By 2020, one in two Americans over the age of 50 will be at increased risk of developing hip osteoporosis and even more at risk of osteopenia in various bones.
Bone healing is a natural process that involves inflammation, bone production, and bone remodeling. Human bones are continuously replaced with new bone tissue, and when a bone is injured, the body has a remarkable ability to heal fractures on its own. Most people with broken bones will heal with appropriate treatment, which may include realignment, casting, or surgery. However, since bones are made of living tissue, a fatigue crack results in two broken ends, one with a positive charge and the other with a negative charge. A bone growth stimulator is a simple device that can be implanted either beneath or above the skin. The device generates an electromagnetic field that attracts the oppositely charged ends of the broken bone, facilitating the growth and fusion of new bone tissue, thus promoting healing.
Bone Growth Stimulators Market Statistics
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Bone Growth Stimulators Market Dynamics
Increase in the Geriatric Population is Fueling the Worldwide Bone Growth Stimulators Market Value
The global market for bone growth stimulators is expanding rapidly, owing in large part to an ageing population. This generational transition has been a primary driver of the market's increasing value. As the aged population grows, so does the prevalence of age-related bone disorders such as fractures and osteoporosis. Elderly people frequently have shorter healing times and a higher risk of non-union fractures, hence bone growth stimulators are an important aspect of their therapy and rehabilitation. As a result, the demand for these gadgets has increased, resulting in a higher market value.
Furthermore, the aging population is not the only factor at work. Medical technology advancements have resulted in more effective and user-friendly bone growth stimulators, making them appealing to both healthcare practitioners and patients. These advancements have widened the market's reach, making it possible to treat a broader spectrum of orthopedic problems. As a consequence, the global bone growth stimulators market is on the rise, and its value is predicted to rise further in the next years, serving the particular demands of the expanding older population while delivering novel orthopedic treatment options.
Customers Prefer Bone Stimulation Products for Use in Homecare Settings Will Generate Surplus Worldwide Bone Growth Stimulators Market Opportunities
Customers increasingly prefer bone stimulation devices for homecare use. This shift in choice is influenced by a variety of variables, including the ease and comfort of administering therapy at home. Patients can use home-based bone stimulation devices to follow specified treatment regimens without having to visit a healthcare facility on a regular basis. This not only relieves patients' burdens but also improves their entire treatment experience. Furthermore, the COVID-19 epidemic has hastened the introduction of home-based medical equipment, such as bone stimulation products, because they give a safer and more sanitary choice for patients while maintaining social distancing measures. As a result, the increased desire for homecare settings is altering the bone stimulation industry and affecting product design and distribution methods in order to better meet the needs of patients.
Bone Growth Stimulators Market Segmentation
The global market for bone growth stimulators has been categorized into type, application, end-use and region
Bone Growth Stimulators Market Share
The bone growth stimulators market forecast indicates that the bone growth stimulation devices sub-segment is set to maintain its market share dominance from 2023 to 2032.
Moreover, according to the bone growth stimulators industry analysis, the spinal fusion surgeries are forecasted to lead the market in the upcoming years.
As per the bone growth stimulators market analysis, hospitals are leading end-use segment in 2022.
Bone Growth Stimulators Market Regional Outlook
North America is a major market for bone growth stimulators. The region's excellent healthcare infrastructure, rising healthcare costs, and an aging population all contribute to its market domination. Because of its excellent medical technology and high frequency of orthopedic disorders, the United States is a significant participant in this industry. Demand for bone growth stimulators is predicted to develop further as a result of factors such as an aging population and the occurrence of spinal cord injuries.
Europe also has a substantial market share for bone growth stimulators. This is mostly due to a well-established healthcare system, increased knowledge of orthopedic therapies, and an ageing population. Germany and the United Kingdom are important contributors to the European market. The market is expected to expand further as more patients choose non-invasive and minimally invasive orthopedic procedures.
The Asia-Pacific area is seeing an increase in demand for bone growth stimulators as healthcare spending increase and the frequency of bone-related illnesses rises. Market development is being driven by an ageing population and increased knowledge of orthopaedic therapies in countries such as China, India, and Japan. However, the region's different regulatory environments and economic imbalances might cause obstacles.
Bone Growth Stimulators Market Players
Some prominent bone growth stimulators companies covered in the industry include Arthrex, Inc., Isto Biologics, Zimmer Biomet Holdings, Inc., Colfax Corporation (Djo Global, Inc), Terumo Corporation, Johnson & Johnson (Depuy Synthes), Essex Woodlands Healthcare Partners (Bioventus Llc), Medtronic Plc., Orthofix Medical Inc., and Stryker Corporation.
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Mr. Frank Wilson
Acumen Research and Consulting