The Latin America Bone Growth Stimulators Market was worth USD 92 million in 2016 and estimated to be growing at a CAGR of 4.9%, to reach USD 116 million by 2021. The market is estimated to grow at a significant potential during the specified period and also in the years to follow.
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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.
Latin America Bone-growth stimulators market is fuelled by factors like stabilizing economy, growing population, increasing incidences of arthritis and injuries caused by sports and rising demand for non-invasive spinal surgery techniques. But, factors like 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 bone growth stimulators market.
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The Latin America Bone Growth Stimulators market is broadly categorized on the basis of Product into Bone Growth Stimulation Devices, Bone Morphogenetic Proteins and Platelet-rich Plasma. The bone growth stimulation devices is further segmented into External Bone Growth Stimulators, Implanted Bone Growth Stimulators and Ultrasonic Bone Growth Stimulators. Based on Application, the market is segmented into Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral and Maxillofacial Surgeries and Other Applications. On the basis of End User, the market is classified into Hospitals and Clinics, Home Care, Academic & Research Institutes and CROs.
On the basis of region the Latin America market is analyzed under the regions Mexico, Brazil, Argentina and rest of South America. Developing countries like Brazil and Mexico are undergoing a lot of development in the medical sector and hence show huge growth potential for this market.
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The major players dominating the Bone Growth Stimulators market 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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