Bone Growth Stimulators Market Size, Share, and Forecast 2030
The global bone growth stimulators market size is projected to reach USD 3.8 billion by 2030 and registering a CAGR of 7.69% from 2022 to 2030.
Many orthopedists advise using this technology to encourage quicker bone repair. In order to stimulate bone development, stimulators deliver painless electrical or ultrasonic stimulation. It operates by producing either pulsed ultrasonic energy or a low-level pulsed electromagnetic field. The idea is that by assisting the body in tissue healing and promoting cell creation and maturity, these energy fields drive bone growth, increasing bone density.
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Regional Snapshots
North America held dominant position and predicted to be in the dominating state during forecast period. The significant market share of North America can be ascribed to the region's highly developed healthcare infrastructure and reimbursement system as well as the rising awareness among physicians and patients of the most recent treatments and technologies available today.
Further propelling the growth of the North American bone growth stimulator market are the rising prevalence of spinal disorders, growing geriatric population, rising population exposure to major risk factors such as obesity, smoking, and diabetes, and rising patient preference for minimally invasive orthopedic therapies.
Market Dynamics
Drivers
One of the key drivers of the use of such stimulators and, consequently, the growth of the market, is the rising incidence of bone diseases across the globe. One of the main causes of fractures worldwide is osteoporosis. More than 8.9 million fractures are thought to be caused by the illness each year, which affects 75 million individuals in the U.S., Europe, and Japan. Additionally, the rapid development of technologically sophisticated products for effective treatment together with the rising prevalence of such disorders would promote market expansion. Additionally, the rise in oral and maxillofacial operations worldwide will help the market's expansion. Humans always start growing bone, therefore when a bone is broken, the body has a remarkable capacity to heal the fracture on its own. With the right care, which may involve realignment, casts, and surgery, the majority of patients who break a bone will recover. But because bones are formed of living tissue, a fatigue crack causes two shattered ends to break, one of which is positively charged and the other negatively charged. It is possible to implant the stimulator either above or below the skin.
Due to the benefits that these procedures provide over conventional treatment methods, the demand for minimally invasive procedures has increased significantly. Fewer postoperative complications, a shorter hospital stay, less pain, smaller and more cosmetic incisions, a lower risk of infection, less postoperative care, and a speedier recovery time are the main benefits of minimally invasive operations. Modern technology is used in minimally invasive procedures to identify and treat diseases like cancer. These operations are a successful method for removing lymph nodes and cancerous tumors without leaving scars.
Restraints
One of the key elements influencing the acceptance and demand of particular diagnostic or therapeutic items among patients and healthcare professionals at a national level is medical reimbursement. In developed nations, the majority of healthcare insurance companies cover products that stimulate bone formation if certain conditions are met. Australia's Transport Accident Commission (TAC) offers payment for implantable or externally applied bone growth stimulation devices in the event that a transport accident results in injuries. However, a lot of private insurance companies do not offer coverage or reimbursement for procedures that stimulate bone formation. These factors are restraining the growth of the bone growth stimulators market.
Opportunities
The market for bone growth stimulators is predicted to have significant growth potential in emerging economies. The demand for bone growth stimulation products in these nations is anticipated to increase as a result of factors including the presence of a sizable patient population, rising healthcare spending, government initiatives to support the healthcare industry, and growing awareness among doctors, surgeons, and patients about the most recent treatment options for spinal fusion and bone healing. Additionally, it has been stated that many patients from established markets migrate to these developing nations for medical care due to the huge cost advantages. The cost of treatment in developing nations are less than the most developed nations hence, the rising economies regions are expected to host more patients.
Challenges
Bone morphogenetic proteins have a few negative effects, despite being utilized more frequently in spinal fusion and bone repair. The main adverse consequences of BMPs following spinal fusion surgery include implant dislodgment, tissue inflammation, and male infertility. According to reports, BMPs activate oncogenes and trigger antigenic responses during bone repair. During the use of its BMP product in spinal fusion procedures for bone repair, Medtronic identified a number of clinical problems related to it.
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