The Bone Growth Stimulators Market size in Europe was worth USD 0.32 Billion in 2023 and is estimated to be growing at a CAGR of 5.44% to reach USD 0.42 Billion by 2027 during the forecast period.
Patients' increasing preference for non-invasive and minimally invasive surgical treatments, the rising prevalence of target disorders, and the rising number of sports and accident-related orthopedic injuries drive the European bone growth stimulators market forward. In addition, the bone growth stimulators market is also being driven by factors such as an increase in the geriatric population, an increase in the incidence of fractures and accidents, a rise in diabetes, and other medical issues such as obesity, vascular disease, and kidney damage; an increase in the prevalence of arthritis, an increase in platelet-rich plasma and bone morphogenetic proteins, and the availability of low-cost bone growth stimulation devices.
Increased patient awareness of bone growth stimulators, procedural benefits of bone growth stimulation devices in the treatment of bone fractures and orthopedic diseases, technological advancements in bone growth stimulators, and an increase in the adoption rate of bone growth stimulators by both patients and prescribers all contribute to the growth of the bone growth stimulators market. Bone Development Stimulators are devices that aid in promoting bone growth in situations where fracture healing is problematic. To stimulate healing, these devices use the technique of administering electric current. In addition to spinal fusion, bone growth stimulators are employed as a supplement. The key elements driving this trend include rising occurrences of arthritis and osteoporosis and technological innovation. Furthermore, owing to the significant cost reductions, many patients from this country are known to fly to these rising markets for medical care.
Limited medical reimbursement for bone stimulation devices, high treatment costs associated with BMP and PRP products, and adverse effects connected with BMP-based orthopedic treatment are the key factors restricting the growth of the bone growth stimulator market. In addition, the market's growth is projected to be hampered by a strict approval process and limited medical rules for bone stimulation products.
This research report on the European bone growth stimulators market has been segmented and sub-segmented into the following categories.
By End User:
Due to the significant need for innovative therapies for chronic conditions and the local presence of renowned medical device manufacturers such as Medtronic, Orthofix Holdings, Inc, Zimmer Biomet, and Bioventus, the second-largest market for bone growth stimulators was Europe in 2022. The regional mark is likely driven by highly developed healthcare infrastructure, mainly in Germany, Switzerland, the United Kingdom, and France. During the pandemic, there was a significant increase in hip fractures, particularly among the elderly in the United Kingdom, attributed in part to a lack of caretakers and families to look after the elderly. As a result, the rising number of fractures and trauma cases among the senior population during the pandemic puts the attention on bone growth stimulators, which drives up the price of these drugs. Despite an increase in minor injuries requiring minor surgery during the COVID-19 era, the number of polytrauma and open fractures decreased due to reduced road traffic and increased involvement in outdoor activities. The increased incidence of bone fracture cases and the efficiency of external bone growth stimulators in mending fractures drive up demand for these devices. Fragility fractures accounted for 2.9 million in the European Union's major five countries plus Sweden in 2019, according to a study published in the Archives of Osteoporosis, 2020. Furthermore, the increased focus of top manufacturers on expanding their geographic presence in rising countries to acquire a large share of the bone growth stimulators market is likely to fuel the region's expansion.
KEY MARKET PLAYERS:
A few prominent companies operating in the European 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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