The size of the Latin America Bone Growth Stimulators Market is predicted to be USD 0.11 billion in 2023 and USD 0.14 Billion by 2028, growing at a CAGR of 4.19% from 2023to 2028.
Bone growth stimulators are used to make up for the delay in fracture healing. They speed up the bone-healing without causing any electrical shocks when used. An internal bone growth stimulator is kept on the fusion site of the bone for about 6 to 12 months, and it releases small electrical currents. External bone growth stimulator is worn externally and does not need any surgical implantation. Therefore, the market is estimated to grow at a significant potential during the specified period and in the following years.
The Latin America Bone-growth stimulators market is expected to be fuelled by stabilizing the economy, growing population, increasing incidences of arthritis and injuries caused by sports, and rising demand for non-invasive spinal surgery techniques.
However, factors such as the easy availability of other treatments, doubtful efficiency, problems in the medical device, lack of awareness, lack of government support, and competition from bone grafting act as restraints for the growth of the bone growth stimulators market.
This research report on the Latin America Bone Growth Stimulators Market has been segmented and sub-segmented into the following categories:
By End User:
Geographically, the Latin American market is anticipated to account for a moderate share in the global bone growth stimulators market during the forecast period. The market growth in the region is attributed to the rising patient preference for non-invasive and minimally invasive surgical treatments, the increasing number of sports and accident-related orthopedic injuries across Latin America. Also, increasing investment and funding by the government and private organizations to develop healthcare infrastructure is encouraging market growth. However, developing countries such as Brazil and Mexico are majorly contributing to the Latin American bone growth stimulator market.
The Brazilian market dominated the Latin American bone growth stimulator market, and it is likely to continue its growth throughout the forecast period. The rising number of road accidents and trauma cases, rising demand for the minimally invasive procedure, and increasing healthcare expenditure are propelling the market growth. In addition, the major companies in the region are implementing various strategies to be competent in the marketplace, as the strategies include partnerships, mergers, acquisitions, and so on.
On the other hand, Mexico is more likely to witness a considerable share in the Latin American Bone Growth Stimulators Market during the forecast period. The bone growth stimulators market is driven primarily by the number of procedures performed for fracture fixation and spinal fusion.
KEY MARKET PLAYERS:
A few prominent companies operating in the Latin America Bone Growth Stimulators Market profiled in this report 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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