30 Jun REPORT: Spine Bone Stimulators Market to reach $665.5m by 2030

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Increase in the incidence of spinal cord disorder, rapid escalation in geriatric population, increase in incidence of spinal deformities, and upsurge in need for adequate healthcare facilities drive the growth of the global spine bone stimulators market. North America contributed to the highest share in terms of revenue in 2020, holding more than half of the total market share.

Portland, OR, June 29, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global spine bone stimulators market generated $487.8 billion in 2020, and is projected to reach $665.5 million by 2030, witnessing a CAGR of 3.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Increase in the incidence of spinal cord disorder, rapid escalation in geriatric population, increase in incidence of spinal deformities, and upsurge in need for adequate healthcare facilities drive the growth of the global spine bone stimulators market. However, availability substitute, fixation instrumentation during fusion & non-union fractures, and high initial cost of these devices hamper the market growth. Contrarily, rise in awareness of newly developed technologies and upsurge in healthcare expenditure are expected to provide lucrative growth opportunities for the market. 

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COVID-19 Impact Analysis:

  • The outbreak of the COVID-19 pandemic led to the global lockdown, which in turn, hampered the overall growth of the global spine bone stimulators market.
  • The lockdown resulted to reduction in outdoor sport activities and in-road traffic accidents. Also, reduction in planned surgeries affected the market growth.

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The report offers detailed segmentation of the global spine bone stimulators market based on device type, end user, and region. 

Based on device type, the non-invasive Spine Bone Stimulators segment held the highest market share in 2020, holding more than four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 3.3% from 2021 to 2030.  

Based on end user, the hospitals segment held the largest market share in 2020, holding around two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the specialty clinics segment is projected to register the highest CAGR of 4.0% from 2021 to 2030.

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Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than half of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 5.1% during the forecast period. 

Leading players of the global spine bone stimulators market analyzed in the research include Enovis (DJO Global, Inc.), Zimmer Biomet. Orthofix Medical Inc., Elizur Corporation, Ossatec Benelux BV, Orchid Medical, Inc., IGEA S.p.A., ManaMed Inc., Theragen, Inc. Intelligent Implants.           

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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SOURCE: Allied Market Research, Global Newswire, 29 June 2022

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