The Asia Pacific Bone Growth Stimulators Market was worth USD 343 million in 2016 and estimated to be growing at a CAGR of 5.7%, to reach USD 453 million by 2021. The market is estimated to grow at a significant potential during the specified period and also in the years to follow.
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Bone growth stimulators are used for speeding up the fracture healing process when there is delay or inability to do so by the body on its own. They increase the natural speed of the bone-healing process without giving electric shocks when worn by the user. External bone growth stimulator are also called non-invasive bone growth stimulators and are mobile devices worn externally. They do not need surgery for implantation. An external bone growth stimulator is advised to be kept for two to nine hours per day for around three to nine months in a year. An internal bone growth stimulator is an invasive bone growth stimulator and is implanted on the fusion spot of the bone. It gives off small electrical currents. The internal bone growth stimulator is removed from the fusion spot after a year.
Asia Pacific Bone-growth stimulators market is driven by factors like increasing elderly population, rising prevalence of arthritis and injuries caused by sports and growing demand for non-invasive spinal surgeries. On the other hand, factors like the feasibility of other treatment options, doubtful efficiency of the procedure, problems due to issues in the medical device, lack of awareness and government support along with competition from bone grafting act as constraints for the growth of bone growth stimulators market.
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The Asia Pacific Bone Growth Stimulators market is broadly categorized on the basis of Product into Bone Growth Stimulation Devices, Bone Morphogenetic Proteins and Platelet-rich Plasma. The bone growth stimulation devices is further segmented into External Bone Growth Stimulators, Implanted Bone Growth Stimulators and Ultrasonic Bone Growth Stimulators. Based on Application, the market is segmented into Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral and Maxillofacial Surgeries and Other Applications. On the basis of End User, the market is classified into Hospitals and Clinics, Home Care, Academic & Research Institutes and CROs.
On the basis of region the Asia-Pacific market is analyzed under the regions China, India, Japan and South Korea. Developing countries in this region like China and India are estimated to become new revenue-generating regions for major market players during the forecast period.
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The major players dominating the Bone Growth Stimulators market are DJO LLC, Orthofix International N.V., Zimmer Biomet Holdings Inc., Elizur, Bioventus LLC., Ossatec Benelux BV, Verve Consulting Inc., and IGEA S.p.A.
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