According to Fact.MR, rising rates of osteoarthritis, osteoporosis, and rheumatoid arthritis in older and younger populations are boosting the demand for bone-cutting technologies. The World Health Organisation (WHO) estimates that 32.5 million persons in the US have osteoporosis, which results in severe bone abnormalities, and rheumatoid arthritis (RA). By 2040, it is anticipated that 78 million people will either have RA or a bone insufficiency of some form. As a result, the industry’s top players are working hard to produce cutting-edge, highly accurate equipment for difficult bone surgeries.
In 2021, the market for bone growth stimulators was worth US$1.89 billion. The market is anticipated to reach a US$ 1.99 billion valuation by 2022, representing a 5.3% year-over-year increase. The bone growth stimulator market is predicted to develop at a CAGR of 5.07% from 2022 to 2032, reaching a value of US$ 3.1 billion. The rising prevalence of arthritis around the world might be blamed for the market’s growth.
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Furthermore, leading players are consistently conducting research & development activities to develop novel technologies for complex muscular and orthopedic surgeries, needing minimal human assistance. This has resulted in the launch of highly advanced lasers, piezotomes, and drills to perform bone-cuts and bone-trepanations for complex procedures with high precision. Based on these factors, the market is expected to witness a positive growth through the forecast period between 2021 and 2031.
“Leading and emerging players are investing in research for developing innovative tools and systems to gain a competitive edge in the bone-cutting technologies market,” says the Fact.MR analyst.
Key Highlights
- United States is expected to hold the highest share of global bone-cutting technologies market backed by the largest market of medical devices in the region
- India is expected to be one of the most lucrative market through 2021
- UK and Germany, collectively, are expected to impel the growth backed by the rising cases of osteoarthritis and rheumatoid arthritis in the region
- In terms of technology, laser technology is expected to dominate the segment throughout the forecast period
- Increasing application of bone-cutting technologies in partial & total knee replacement is expected to spur the sales
Prominent Drivers
- Adoption of artificial intelligence and technological advancement in developing the medical tools & devices will drive the demand of bone-cutting technologies
- Rising cases of calcium deficiency and bone deformities are expected to impel the growth of bone-cutting technologies market
- Growing geriatric population and rising cases of accidents will propel the demand over the coming years
Competitive Landscape
Recent Updates from the Industry Include :
- In December 2020, Zimmer Biomet Holdings, Inc., announced that the company has concluded the acquisition of A&E Medical Corporation for $150 million in cash at closing and $100 million in cash payable in 2021. The deal is expected to have an immaterial impact to net earnings in 2020. Zimmer Biomet has acquired A&E Medical and its complete portfolio of sternal closure devices which includes sternal sutures, cable systems, and rigid fixation – along with a range of single-use complimentary temporary pacing wire and surgical punch products.
- In March 2020, Orthofix Medical Inc., announced its acquisition of assets associated with FITBONE ® intramedullary lengthening system for limb lengthening of the femur and tibia bones. With the initiative, Orthofix becomes the only orthopedic company that offers a comprehensive portfolio of both internal and external fixation solutions for limb reconstruction.
Market Provider
- Ossatec Benelux B.V.
- Elizur Corporation
- Johnson & Johnson
- Arthrex Inc.
- DJO Global Inc.
- Stryker Corporation
- Bioventus Inc.
- Zimmer Biomet Holdings Inc.
- Medtronic plc.
- Orthofix International N.V.
Key Segments Covered
- By Product :
- Bone Growth Stimulation Devices
- Platelet-Rich Plasma Bone Growth Stimulators
- Bone Morphogenetic Protein Stimulators
- By End User :
- Hospitals & Clinics
- Home Care
- Academic & Research Institutes and CROS
- Other End Users
- By Application :
- Delayed Union & Nonunion Bone Fractures
- Spinal Fusion Surgeries
- Oral and Maxillofacial Surgeries
- Other Applications
- By Region :
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
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