BONE GROWTH STIMULATOR MARKET ANALYSIS

Bone Growth Stimulator Market, By Material Type (Bone Growth Stimulation Devices (External Bone Growth Stimulators), Bone Morphogenetic Proteins, and Platelet-Rich Plasma), By Application (Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries, and Other Applications), By End User (Hospitals, Ambulatory Surgical Centers, Home Care Settings, and Academic and Research Institutes), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Feb 2025
Code : CMI225
Pages :220
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenge - High costs associated with bone growth stimulators

One of the major challenges currently faced by the global bone growth stimulator market is the high costs associated with these medical devices. Bone growth stimulators can be extremely expensive, sometimes ranging between US$ 5,000 to US$ 8,000 per device. This heavy cost burden makes it very difficult for many patients, especially those from economically disadvantaged sections of society, to afford bone growth stimulators. The out-of-pocket costs for patients after healthcare reimbursements can still be prohibitively high. Additionally, the costs of the procedure and therapist visit charges associated with bone growth stimulation therapies further contribute to the overall treatment expenditures.

Bone Growth Stimulator Market Opportunity - Advancements in technology and product innovation

The global bone growth stimulator market is expected to witness numerous lucrative opportunities for players attributed to continued advancements in technology and product innovation. Vendors are increasingly investing in R&D to launch newer generation devices with improved functionalities. They are developing bone growth stimulators that can stimulate targeted areas more efficiently through advanced electrode designs. There is also a scope of developing patch-based non-invasive bone growth stimulation solutions which can benefit out-patients. Furthermore, the integration of digital technologies like IoT and AI into bone growth stimulators can allow remote monitoring of patients.