The spinal bone stimulators market is expected to reach $ 724 million by 2022 and supports an average annual growth rate of 3.6% between the forecast period of 2014 and 2022.
Use spinal bone stimulators and spinal instruments (plates, rods and screws) and bone grafts during spinal fusion surgery to improve the skeletal healing process. This stimulator sends low-level electrical signals to the fusion site, activates the body’s natural bone healing process, damaging the at-risk patient and preventing the vertebral fracture from being delayed or unionized.
The key players operating in the spine bone stimulators market focus on expanding their business operations in emerging countries with new product launches as a preferred strategy.
The major companies profiled in the report include
- Aetna Inc.
- Bioventus LLC
- DJO Global Inc.
- elizur Corporation
- IGEA S.p.A.
- Medtronic plc
- Orchid Medical Inc.
- Orthofix International N.V.
- Ossatec Benelux B.V.
- Smith & Nephew plc
- Verve Consulting Inc.
- Zimmer Biomet Holdings Inc.
Increased elderly population and increased incidence of osteoporosis and arthritis promote market growth. However, the emergence of bone growth-promoting drugs, the use of fixtures during fusion and non-fracture, and the high initial costs of these devices are expected to hamper market growth. Non-invasive spinal bone stimulators were the highest revenue generating segment, accounting for more than two-thirds of the spinal bone stimulator market.
North America accounted for the major share of revenue in 2015, and is expected to maintain its dominance throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, registering a CAGR of 4.5%. Improvement in healthcare infrastructure and increase in expenditure in emerging markets (such as India and China) to overcome the unmet medical needs in these countries have supplemented the market growth.
Key findings of Spine Bone Stimulators Market:
- Non-invasive spine bone stimulators segment is expected to grow at a CAGR of 3.6% during the forecast period.
- Pulsed electromagnetic field device occupied more than three-fifths of the global non-invasive spine bone stimulators market in 2015.
- North America dominated and accounted for nearly two-thirds of the global market in 2015.
- France and Germany collectively accounted for almost one-third of the European spine bone stimulators market in 2015.
- Japan was the major shareholder in Asia-Pacific spine bone stimulators market in 2015, accounting for almost one-third share.