The Allied Market Research published a report on Spine Bone Stimulators Market 2021-2030 Interesting fact and figures (CAGR, Global Size, Shares and Revenue with Business Growth Support and Market Value and Volume with Supply Demand Scenario and Pipeline Projects). The global spine bone stimulators market size was valued at $487.80 million in 2020, and is projected to reach $665.55 million by 2030, growing at a CAGR of 3.2% from 2021 to 2030.
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Spine bone stimulators and spinal instrumentation (plates, rods, and screws) and bone grafts are used during a spinal fusion surgery to enhance the bone’s healing process. These stimulators send low-level electrical signals to the fusion site, in turn activating the body’s natural bone healing process, which gets impaired in at-risk patients, preventing delayed unions or non-union of the spine fractures
Increase in geriatric population and rise in incidence of osteoporosis and arthritis boost the spine bone stimulators market growth. According to report share by Bloomberg quint in August 2020 the old age dependency ratio is also rising. That ratio has increased from 14.2% in 2011 to 15.7% in 2021 as per projections. It is expected to rise to 20.1% by 2031. Rise in the incidence of spinal cord disorder. According to report given by united spinal association in August 2020 there are approximately 296,000 Americans currently living with spinal cord injury, and about 17,900 new spinal cord injury cases are reported each year and about 78% of new spinal cord injury cases are male.
Opportunities for spine bone stimulator market are rapid escalation in geriatric population, increase in incidence of spinal deformities, and upsurge in need for adequate healthcare facilities are expected to drive the demand for spinal bone stimulators in the near future. In addition, emerging nations need to focus on cost-effectiveness and scalability to cater to the needs of the growing patient pool.
The report segments the spine bone stimulators industry based on device type, end user, and region. On the basis of device type, the market is bifurcated into non-invasive and invasive stimulators. By end user, it is divided into hospital, specialty clinic and other. Geographically, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.
KEY FINDINGS OF THE STUDY:
- On the basis of spine bone stimulators market analysis, among device type, the non-invasive bone stimulator segment was the highest contributor to the market in 2020.
- On the basis of end user, the hospital segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
- Region-wise, North America garnered the largest revenue share in 2020. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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., and Zimmer Biomet Holdings, Inc.
Region-wise, North America accounted for the major spine bone stimulators market share in 2020, and is expected to be dominant during the forecast period, owing to increase in the geriatric population, rise in patient awareness about reliable spine fusion surgeries, and growth in incidence of spinal disorders such as osteoporosis and arthritis boost the spinal bone stimulators markets.
For More Information: https://www.alliedmarketresearch.com/spine-bone-stimulators-market
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