Bone Growth Stimulator Market to Exhibit a CAGR of 4.8% during 2022-2028

Posted by saurabh on May 16th, 2022

The global bone growth stimulator market size is expected grow from USD 1.83 billion in 2021 to reach USD 2.55 billion by 2028, exhibiting a CAGR of 4.8% during the forecast period. The growing bone fractures and sports injuries around the world will promote the growth of the market in the forthcoming years, states Fortune Business Insights, in a report, titled “Bone Growth Stimulator Market, 2021-2028.” The market size stood at USD 1.75 billion in 2020.

Notable Development:

January 2021: Bone Therapeutics and Rigenerand announced their collaboration for developing cell therapy specifically for orthopedic conditions.

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COVID-19 Impact:

Due to postponed elective operations, temporary closure of orthopaedic clinics, ban on organized sports, and restrictions in non-essential treatment throughout hospitals, the COVID-19 pandemic had a short-term detrimental impact on the worldwide market. For example, during the COVID-19 epidemic, the Centers for Medicare & Medicaid Services (CMS) stated in March 2020 that all non-essential medical, surgical, elective operations, and dental treatments would be postponed. Furthermore, the University of Birmingham estimates that approximately 6.3 million elective orthopaedic operations were canceled globally owing to the COVID-19 pandemic during the peak interruption period of 12 weeks.

Market Segments:

The global bone growth stimulator market was dominated by the bone growth stimulation devices segment in 2020. Researchers\' increased attention on developing innovative non-invasive stimulating gadgets has boosted demand for these goods even more.

In 2020, the spinal fusion application segment dominated the market. The enormous number of patients undergoing spinal fusion operations throughout the world accounts for the high proportion of the sector.  The hospital sector led the global market in terms of end-users. The huge frequency of patient visits and orthopaedic operations performed in hospital facilities account for the dominance.

Geographically, the market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

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