Technavio predicts the global bone growth stimulation devices market to post a CAGR of more than 5% by 2023. (Graphic: Business Wire)
The global bone growth stimulation devices market 2019-2023 is expected to post a CAGR of more than 5% during the forecast period, according to the latest market research report by Technavio.
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Technavio predicts the global bone growth stimulation devices market to post a CAGR of more than 5% by 2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing orthopedic conditions and surgical cases. Surgery is required to treat orthopedic cases. Fracture and dislocation of the lower extremity, total and partial hip replacement, and spinal fusions are some of the major orthopedic conditions that require the use of bone growth stimulation devices. Bone growth stimulation devices are used for spinal fusion following cervical and lumbar spine surgeries. These devices deliver low-intensity electrical signals to stimulate the natural bone healing process.
This market research report on the global bone growth stimulation devices market 2019-2023also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the smart applications for external bone growth stimulation devices as one of the key emerging trends in the global bone growth stimulation devices market:
Global bone growth stimulation devices market: Smart applications for external bone growth stimulation devices
Vendors are coming up with smart applications that are integrated with external bone growth stimulation devices. These applications help doctors track the progress of treatment via smartphones updates and helps them to plan follow-up protocols to achieve better outcomes.
“Smart applications also send patients daily reminders about the treatment schedule and duration of treatment. These smart applications provide user guides and other necessary information to patients for better utilization of the device and faster bone healing. Several vendors are providing smart applications for their products. For instance, Orthofix provides the STIM onTrack mobile application for its product offerings, such as Cervical-Stim and Spinal-Stim external bone growth stimulation devices,” says a senior analyst at Technavio for research on infectious and rare diseases.
Global bone growth stimulation devices market: Segmentation analysis
This market research report segments the global bone growth stimulation devices market by product (external and internal) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of 48%, followed by APAC and EMEA respectively. The region is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
About Technavio
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