The Asia Pacific Bone Growth Stimulators Market would witness market growth of 8.4% CAGR during the forecast period (2020-2026). Bone growth stimulation tools provide a cost-effective and healthier alternative way to treat orthopedic disorders compared to conventional bone fracture surgery. These tools have been reported to reduce the patient's hospital stay as well as the risks of complications and infections. This is expected to support the adoption of bone stimulation products among key end-users. This is also reinforced by empirical evidence that validates the empirical effectiveness of bone growth stimulation products inefficient and rapid bone regeneration relative to conventional methodologies.
The rising number of people suffering from spinal injuries, combined with a rise in the rate of surgery, is the main drivers for the sector. In addition, extensive research undertaken by manufacturing companies to discover the therapeutic potential of BMP in other orthopedic disorders, such as osteoarthritis and soft tissue repair, is expected to further boost growth.
Bone Morphogenetic Proteins (BMP) and Platelet-rich Plasma (PRP) products aid in bone development during the treatment of various fractures and spinal surgery. Thus, the use of these drugs is expected to increase during these surgeries due to faster healing resulting in rapid recovery. As a result, with a growing number of injuries and trauma events, the number of spinal and orthopedic procedures is rising. This increase has further increased the demand for these tools, BMP, and PRP products, which is expected to drive market growth.
Frequent product recalls have been found to impede the overall market growth. The recall of goods has a detrimental impact on the company and the prestige of the manufacturer. This may also impact consumer loyalty to other company goods. In addition, recalls also doubt the efficacy of new products and thus hinder their acceptance by surgeons.
Based on Product, the market is segmented into Bone Growth Stimulation Devices, Bone Morphogenetic Proteins and Platelet-Rich Plasma. Based on Application, the market is segmented into Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries and Others. Based on Distribution Channel, the market is segmented into Hospitals & Clinics, Home Care and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Bone Growth Stimulators Market in Asia Pacific is expected to register a CAGR of 8.4% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Johnson and Johnson, Medtronic PLC, Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew PLC, Terumo Corporation (Terumo BCT, Inc.), Colfax Corporation (DJO Global, Inc.), Orthofix Medical, Inc., Arthrex, Inc., Bioventus LLC.
Market Segmentation:
By Product
By Application
By Distribution Channel
By Country
Companies Profiled
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