VANCOUVER, BC, Feb. 22, 2023 /PRNewswire/ — The global bone growth stimulant market is valued at $2.22 billion in 2022 and is expected to grow at a CAGR of 5.5% over the forecast period . emerging research. Revenue growth in the bone growth stimulants market is driven by an increase in the incidence of fractures and bone disease, an increase in demand for non-invasive and pain-free treatments, and an increase in the geriatric population.
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The increase in the incidence of fractures and bone diseases such as osteoporosis and osteoarthritis is one of the main factors driving the growth of market revenues. Worldwide, one in three women and one in five men over the age of 50 experience an osteoporotic fracture, according to the International Osteoporosis Foundation. Moreover, an increase in the geriatric population is more prone to fractures, which is expected to increase the demand for bone growth stimulants. In addition, the need for non-invasive and painless therapies is driving the introduction of bone growth stimulants as they offer an effective non-surgical option for the treatment of fractures and disease.
The high cost of bone growth stimulants is one of the major deterrents to the growth of the bone growth stimulator market. The high cost of these devices limits their distribution, especially in low- and middle-income countries where healthcare costs are a major concern. In addition, lack of awareness and deficient reimbursement policies in some regions are also major barriers to market growth.
The global bone growth stimulant market is projected to achieve a CAGR of 5.5% during the forecast period with revenue increasing from US$2.22 billion in 2022 to US$3.80 billion in 2032. The growth of the market is associated with an increase in the frequency of fractures and diseases, an increase in the geriatric population and the demand for non-invasive and painless treatments.
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The market for bone growth stimulants is undergoing major changes during the forecast period. There is currently a trend towards the development of new and improved bone growth stimulants that can be used in various surgical interventions. These new devices are designed to be more efficient, more accurate and more versatile than traditional devices. In addition, there is a trend towards the use of bone growth stimulants in new and innovative procedures such as spinal fusion surgery, a surgical procedure used to treat fractures and diseases of the spine.
The key companies included in the market report are Isto Biologics, JOHNSON and Johnson, MEDTRONIC PLC., Orthofix Medical Inc., STRYKER CORPORATION, Terumo Corporation, ZIMMER BIOMET HOLDINGS, IGEA Pharma, Manamed Inc. and THERAGEN ETEX CO., LTD.
These companies are actively engaged in strategic initiatives such as M&A, partnerships and collaborations to expand their product portfolio and strengthen their market presence. For example, in September 2022, Bioventus LLC announced the acquisition of Emerge Medical, a company that provides advanced wound care and compression therapy products, to expand its portfolio of orthopedic and biosurgical products.
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USA, Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, Korea, Rest of Asia Pacific, Brazil, Rest of Latin America, Saudi Arabia, UAE, South Africa , Turkey, rest of the Middle East and Africa
Orthofix US LLC, Stryker, Medical Device Business Services, Inc., Bioventus, Medtronic, DJO, LLC, Zimmer Biomet, Arthrex, Inc., Terumo Corporation, Ossatec Benelux BV
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For the purposes of this report, Emergen Research has segmented the global Bone Growth Stimulants market based on product, application, end use and region:
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Post time: Mar-09-2023