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Recent innovations and clinical approvals are supporting growth in Global Bone Growth Stimulators Market. With clear pathways for future growth Fortune Business Insights has predicted a market value of US$ 2,624.8 Mn by the end of 2026, in its latest report titled, 'Bone Growth Stimulators Market: Global Market, Insights and Forecasts.
’ Seamless operations and optimum efficiencies of bone stimulators had incurred a global market value of at US$ 1,837.2 Mn in 2018. The rise in market value is a result of recent technological advancements and in reaching the estimated value, the market is likely to exhibit a CAGR of 4.6%.
In April 2019, a team of analysts at the University of Michigan introduced a theory that High Intensity Focused Ultrasound (HIFU) and gene switches can be of a massive help in stimulating the growth of bones. The HIFU is already clinically approved by the FDA and has shown positive clinical results.
This method is set to change the way bone growth stimulators have been operating. When used simultaneously, HIFU and gene switches can speed up growth stimulation processes, thereby taking lesser time for tissue regeneration and healing. Discovery of such methods have led to an increased adoption of bone growth stimulators, worldwide.
Besides this, the bone growth stimulators market is predicted to gain from excellent product portfolios of leading companies. For instance, companies such as Zimmer Biomet and Orthofix Holdings, Inc. have earned them a strong market position. According to recent market numbers, Zimmer Biomet and Orthofix Holdings, Inc. are currently at the fore of the global market.
Backed by FDA approvals for their renowned products such as CervicalStim and SpinalStim, these two companies have accounted for majority of the market share and are likely to churn impressive numbers in the forecast period. Some other companies that have made notable contributions towards market growth are Stryker, Medtronic, Bioventus, Wright Medical Group N.V., Prospec-Tany Technogene Ltd., Elizur Corporation, Ossatec Benelux BV, and IGEA S.p.A.
Bone Growth Stimulation Devices to Dominate the Global Market
Among the various methods and medium that are used as bone growth stimulators, stimulator devices are likely to emerge as the most widely adopted equipment. The bone growth stimulators devices segment is estimated to hold a market share of more than 50%, by the end of the forecast period. The dominance is primarily attributable to increased reimbursement policies that favor these devices and the incorporation of ultrasonic wave concepts in these devices.
North America to Emerge as The Leading Region As of 2018, the bone growth stimulators market in North America was valued at US$ 760.2 Mn. According to Fortune Business Insights, North America is likely to continue showcasing impressive market numbers along the entire forecast duration.
Excellent business strategies of companies based in the US are boosting the bone growth stimulators market in North America. Trailing North America, Europe and Asia Pacific are ranked second and third respectively, in the global bone growth stimulators market. The bone growth stimulation market in Asia Pacific is likely to grow on account of increasing number of standalone orthopedic clinics across emerging nations.
Browse Complete Related Reports at https://www.fortunebusinessinsights.com/industry-reports/bone-growth-stimulators-market-100161
The global bone growth stimulators market is segmented based on:
By Product Type
By End User