In a recent published report, Kenneth Research has updated the market report for Bone Growth Stimulator Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Bone Growth Stimulator Market products.
Kenneth Research has recently added a report titled Bone Growth Stimulator Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The global Bone Growth Stimulator Market was valued at USD 0.99 billion in 2016 and is projected to reach USD 1.56 billion by 2025, growing at a CAGR of 5.1% from 2017 to 2025.
Electrical bone growth stimulators are a supplemental form of therapy to help enhance the bodyâ€™s bone healing process. With increase in spinal injuries and cord related health issues, paired by rise in geriatric population, the market value is also increasing all over the globe.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Increasing demand for noninvasive or minimally invasive techniques
1.2 Growing Target patient population
1.3 Procedural Benefits Offered By Bone Stimulation Devices
2. Market Restraints
2.1 Limited reimbursements
2.2 High treatment cost
1. Global Bone Growth Stimulator Market, by Application:
1.1 Spinal Fusion Surgeries
1.2 Delayed Union & Nonunion Bone Fractures
1.3 Oral and Maxillofacial Surgeries
1.4 Other Applications
2. Global Bone Growth Stimulator Market, by End User:
2.1 Hospitals & Clinics
2.2 Home Care
2.3 Academic & Research Institutes and CROS
3. Global Bone Growth Stimulator Market, by Product:
3.1 Bone Growth Stimulation Devices
3.1.1 External Bone Growth Stimulators
22.214.171.124 Pulsed Electromagnetic Field Devices
126.96.36.199 Capacitive Coupling Devices
188.8.131.52 Combined Magnetic Field Devices
3.1.2 Implanted Bone Growth Stimulators
3.1.3 Ultrasonic Bone Growth Stimulators
3.2 Bone Morphogenetic Proteins
3.3 Platelet-Rich Plasma
4. Global Bone Growth Stimulator Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Orthofix International N.V.
2. DJO Finance LLC
3. Zimmer Biomet Holdings, Inc.
4. Bioventus LLC
5. Medtronic PLC
6. Stryker Corporation
7. Depuy Synthes (A Subsidiary of Johnson & Johnson)
8. Arthrex, Inc.
9. Isto Biologics
10. Harvest Technologies (A Terumo BCT Company)
11. Ossatec Benelux Ltd.
12. Ember Therapeutics Inc.
13. Regen Lab SA
14. Altis Biologics (Pty) Ltd.
15. ITO Co., Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Bone Growth Stimulator Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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