The size of the Bone Growth Stimulators Market in the Asia Pacific was worth USD 0.28 billion in 2022 and is estimated to be growing at a CAGR of 5.5% to reach USD 0.37 Billion by 2027 during the forecast period.
Y-O-Y growth in the number of injuries through road accidents every year, the growing necessity for non-invasive and minimum invasive treatments are primarily boosting the bone growth stimulators market growth in the Asia Pacific. On-going research activities, growing patient and physician obtainment, and favorable reimbursement policies provide decent support to the growth rate of the bone growth stimulators market in the Asia Pacific.
High costs and repeated product recalls are key factors expected to impact the bone growth stimulators market in APAC negatively. Lack of awareness regarding the bone growth and scarcity of expert professionals required for treating the patients may also obstruct the growth.
This research report on the APAC Bone Growth Stimulators Market has been segmented and sub-segmented into the following categories.
By End User:
Regionally, The Asia-Pacific is accounted to grow with the highest CAGR rate during the forecast period. The growth is attributed to factors like the increasing number of road accidents and developing healthcare infrastructure among the APAC countries. The growing number of people suffering from spinal injuries, besides an increase in the rate of surgery.
The Chinese bone growth stimulators market is predicted to be one of the quickest growing markets in the APAC region, with a 6.1% CAGR. The government has taken several initiatives in advancing the healthcare systems by assuring 95% of the population who have some form of coverage. Moreover, healthcare in China is costly, and quality is below equivalence. An increase in the elder people population and a growing middle-class population escalates the APAC region's bone growth stimulators market.
The bone growth stimulators market in Japan is predicted to experience a CAGR of 9.8% in the region over the analysis period. The growth in Japan is due to an increasing number of injuries and trauma, increasing spinal and orthopedic procedures.
The Indian bone growth stimulators market is ready to augment to grow with a CAGR of 9.8% during the review period due to increasing funds and investments from government and other private organizations towards the healthcare domain, increasing research and development expenses, and rising massive number of medical equipment companies of this region which leads to the fast growth during the historical period.
Major Companies dominating the Asia Pacific Bone Growth Stimulators Market are DJO LLC, Orthofix International N.V., Zimmer Biomet Holdings Inc., Elizur, Bioventus LLC., Ossatec Benelux BV, Verve Consulting Inc., and IGEA S.p.A.
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