Kenneth Research, in its repository of market research reports, have recently added a report on Bone Growth Stimulator Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
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.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Bone Growth Stimulator Industry was valued at USD 1.15 Billion in the year 2017. Global Bone Growth Stimulator Industry is further estimated to grow at a CAGR of 4.13% from 2018 to reach USD 1.58 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Asia-Pacific Industry is considered as the fastest growing Industry in the forecasted period due to growing old age population. At a country level, the U.S in North America whereas India and China in Asia-Pacific is projected to grow strongly in the coming years.
Major market players in Bone Grwth Stimulator Industry are Medtronic plc, Stryker Corporation, Arthrex Inc., Regen Lab SA, Altis Biologics (Pty) Ltd, Johnson & Johnson (J&J), DePuy Synthes, DJO Global Inc., Terumo BCT Inc., Harvest Technologies (A Terumo BCT Company), Bioventus LLC, Orthofix International N.V., and other 10 more companies detailed information is provided in research report. Better global reach at an operational level is the main reason the key players are holding substantial Industry share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
SWOT Analysis of Bone Growth Stimulator Industry:
Growing old age population
Adoption of minimal surgical treatment
High treatment costs
Rising pharma sector in emerging Industry
Government Regulations and norms.
The segmentation are done on the basis of product type, by application, by end users and by region. On the basis of product types, the global Bone Growth Stimulator Industry is sub segmented as Bone Morphogenetic Proteins, Bone Growth Stimulation Devices and Platelet-Rich Plasma of which the Bone Growth Stimulation Devices segment is expected to hold the highest Industry share during the forecast period.
*Bone Morphogenetic Proteins
*Bone Growth Stimulation Devices
o External Bone Growth Stimulators
o Implanted Bone Growth Stimulators
o Ultrasonic Bone Growth Stimulators
*Delayed Union & Nonunion Bone Fractures
*Oral and Maxillofacial Surgeries
*Spinal Fusion Surgeries
*Hospitals & Clinics
*Rest of Europe
*Rest of Asia-Pacific
*Middle East & Africa
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