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Spine Bone Stimulator Market to Expand With 3.8% CAGR By 2024 | Key Players: IGEA S.p.A. & Orthofix Inc.: Radiant Insights, Inc.
SAN FRANCISCO, April 7, 2020 /PRNewswire/ -- The global Spine Bone Stimulator Market is expected to gain a high CAGR of 3.8% during the period 2019-2024. Bone growth stimulation is used for bone fractures or fusions by using ultrasonic or electrical current on fracture site. It can be used in the external or internal of the body. For instance, non-invasive stimulators are used in the external and invasive stimulator devices are used in the internal of the body. Technically, non-invasive bone growth stimulators are externally worn with treatment coils that are externally situated around the fracture with a peripheral power supply. On the other hand, invasive electrical bone growth stimulators use direct current for non-healing fracture or bone fusion site.
The medical process of spine fusion takes place when bone fragments heal together to create a solid bone. However, it undergoes a fusion process for a specific period of time since the surgery. After the surgery, osteogenesis, (body's own process to grow a bony tissue) takes place for a few months wherein the bone growth process paces up and ends up to form a solid bone.
On a commercial scale, the rise in incidences of rickets, fracture and hip dysplasia in the geriatric population is likely to encourage the significance of spine bone stimulators. In addition, the healthcare vendors are dealing in major innovation such as electrical stimulation results in improvement for bone fusion. Researchers from John Hopkins University School of Medicine figured that electrical stimulation led in overall improvement in bone fusion in preclinical and clinical studies.
The spine bone stimulator market is influenced by technological advances in the healthcare industry. Stimulators and automated devices are gaining a huge momentum in the commercial mainstream market owing to increase in incidences of osteoporosis and arthritis. On other hand, use of bone growth steroids, and initial costs of stimulating devices are likely to impede the market growth throughout the forecast period. The rise in geriatric population and growing incidences of bone disorders are likely to create novel opportunities in the following years.
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By application, the spine bone stimulator market can be segmented as open spine surgery and minimally invasive surgery. The demand for minimally invasive surgery is anticipated to have a significant share in the global market attributing to the rise in popularity in the healthcare domain.
By region, the spine bone stimulator market can be segmented as North America, South America, Europe, Asia Pacific, Middle-East, and Africa. North America accounted for a significant share in the global scenario owing to improvements in the healthcare scenario. Rise in clinical research and significance of key players in the U.S. healthcare market is more likely to enhance the regional growth. In addition, government approvals for healthcare products have been stimulating the market growth and continue to play a crucial role in the regional market development. Moreover, U.S. market is also expected to account for a high revenue share.
Some of the key players in the spine bone stimulator market are Elizur Corporation, Bioventus LLC, Medtronic Plc, IGEA S.p.A., Orthofix Inc., Smith & Nephew Plc, Stryker Corporation and Zimmer Biomet Holdings Inc.
The analysts forecast the global spine bone stimulator market to exhibit a CAGR of 3.8% during the period 2019-2024. The report covers the present scenario and the growth prospects of the global spine bone stimulator for 2019-2024. To calculate the market size, the report considers the spine bone stimulator sales volume and revenue.
Access 120 page research report with TOC on "Global Spine Bone Stimulator Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/global-spine-bone-stimulator-market-outlook-2019-2024
The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets and applications.
- Geographically, the global spine bone stimulator market is segmented into North America, Asia Pacific, Europe, Middle East & Africa and South America. This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2024.
- North America (U.S., Canada, Mexico, etc.)
- Asia-Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.)
- Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, Egypt, Nigeria, UAE, Israel, South Africa, etc.)
- South America (Brazil, Argentina, Colombia, Chile, Venezuela, Peru, etc.)
- Based on application, the spine bone stimulator market is segmented into:
- Open Spine Surgery
- Minimally Invasive Spine Surgery
- The report also includes a discussion of the key vendors operating in this market. Some of the leading players in the global spine bone stimulator market are:
- Bioventus LLC
- Elizur Corporation
- IGEA S.p.A.
- Medtronic plc
- Orthofix Inc.
- Smith & Nephew plc
- Stryker Corporation
- Zimmer Biomet Holdings Inc
- Objective of the study:
- To analyze and forecast the market size of global spine bone stimulator market.
- To classify and forecast global spine bone stimulator market based on application and region.
- To identify drivers and challenges for global spine bone stimulator market.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., in global spine bone stimulator market.
- To conduct pricing analysis for global spine bone stimulator market.
- To identify and analyze the profile of leading players operating in global spine bone stimulator market.
- The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Key target audience are:
- Manufacturers of spine bone stimulator
- Raw material suppliers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to spine bone stimulator
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