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The global Bone growth stimulator market size was USD 1,241.8 Million in 2020 and is expected to register a CAGR of 5.5% during the forecast period.

NEW YORK CITY, NY, UNITED STATES, June 9, 2023/EINPresswire.com/ -- The global Bone Growth Stimulator Market was valued at USD 1,241.8 Million in 2020 and is projected to experience a compound annual growth rate (CAGR) of 5.5% during the forecast period. Bone growth stimulators have emerged as the preferred treatment method for promoting the natural healing process of bones by delivering low-level pulses of electromagnetic energy to the injury or fusion site. Over time, preventive and therapeutic technologies for bone growth stimulation have been developed to avoid the need for painful orthopedic surgeries and aid in bone healing.

Several factors drive the market, including the advantages offered by bone growth stimulation techniques compared to traditional methods, an increase in the incidence of target diseases and conditions, growing demand for minimally invasive surgeries, and advancements in bone growth stimulation technologies.

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For example, in June 2017, a clinical trial study was announced for a bone growth stimulator developed by a particular company. Additionally, in January 2017, Orthofix obtained FDA approval and CE Mark Approval for the sales of its Bone Growth Stimulators in various regions.

Segments Covered in the Report –

The bone growth stimulator market can be categorized based on type, application, and end user.

In terms of type, there are various bone growth stimulation devices available. External bone growth stimulators include combined magnetic field (CMF) devices, capacitive coupling (CC) devices, and pulsed electromagnetic field (PEMF) devices. These devices use low-level pulses of electromagnetic energy to stimulate bone healing. Implanted bone growth stimulators are another type that are surgically implanted to promote bone growth. Ultrasonic bone growth stimulators use ultrasound waves for stimulating bone healing. Additionally, bone morphogenetic proteins (BMP) and platelet-rich plasma (PRP) are also used as bone growth stimulation techniques.

When considering applications, bone growth stimulators are commonly used in spinal fusion surgeries to promote fusion and healing of spinal bones. They are also effective in treating delayed union and nonunion bone fractures, aiding in the healing process. Oral and maxillofacial surgeries utilize bone growth stimulators for promoting bone regeneration and healing in the facial region. There are other applications as well, where bone growth stimulation techniques can be beneficial.

In terms of end users, hospitals and clinics are the primary settings where bone growth stimulators are used. These facilities provide medical care and have the necessary expertise to administer bone growth stimulation treatments. Home care settings are another category where patients can receive bone growth stimulation therapy in the comfort of their own homes. Academic institutes and research centers play a role in studying and advancing bone growth stimulation technologies. Other end users include specialized facilities or centers that focus on specific medical treatments or conditions.

These categorizations provide a comprehensive overview of the bone growth stimulator market, considering different types of devices, applications, and end users.

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Strategic development:

The bone growth stimulator market has witnessed several strategic developments aimed at enhancing the effectiveness and accessibility of these devices. Some notable strategic developments in the market include:

1. Technological Advancements: Companies in the bone growth stimulator market have focused on continuous research and development to introduce technologically advanced devices. These advancements have led to the development of more efficient and user-friendly bone growth stimulation technologies, such as combined magnetic field (CMF) devices, capacitive coupling (CC) devices, and pulsed electromagnetic field (PEMF) devices. These devices deliver targeted and precise stimulation to the bone, optimizing the healing process.

2. Product Launches: Market players have launched new bone growth stimulation devices to expand their product portfolios and cater to a wider range of applications. These launches have been aimed at addressing specific needs, such as spinal fusion surgeries, delayed union and nonunion bone fractures, and oral and maxillofacial surgeries. By offering a diverse range of products, companies are able to meet the demands of different medical specialties and improve patient outcomes.

3. Strategic Partnerships and Collaborations: To leverage combined expertise and resources, companies in the bone growth stimulator market have entered into strategic partnerships and collaborations. These collaborations aim to facilitate the development of innovative technologies, explore new applications, and expand market reach. Collaborations between medical device manufacturers, research institutions, and healthcare providers have contributed to the advancement of bone growth stimulation techniques.

Competitive Landscape:

The key players in the bone growth stimulator market include Orthofix International N.V., Medtronic plc, Zimmer Biomet Holdings, Inc., Harvest Technologies Corporation, DJO Finance LLC, Isto Biologics, Arthrex, Inc., Bioventus LLC, DePuy Synthes, and Stryker Corporation. These companies play a significant role in driving innovation and market growth in the field of bone growth stimulation.

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With their expertise in medical devices and technologies, they offer a wide range of products and solutions for promoting bone healing and regeneration. These market leaders continue to invest in research and development to introduce advanced bone growth stimulator devices and expand their global presence.

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