Similarly, as per the recent data, over 80% of individuals 40 years and above have lumbar spondylosis in the U.S. According to the World Health Organization, in 2017, around 18% of women and 9.6% of men aged above 60 years had symptomatic osteoarthritis across the globe.
Joint disorders comprising osteoarthritis are considered to be one of the most prevalent diseases among people aged 65 years and above.Īs per the Centers for Disease Control and Prevention (CDC), the prevalence of doctor-diagnosed arthritis is estimated to reach 78.4 million by 2040 in the U.S. The rapidly surging elderly population suffering from this disease condition has boosted the demand for spinal fusion surgeries and oral & maxillofacial surgeries that have further augmented the bone growth stimulators market growth positively. The incidence of bone and joint disorder is anticipated to proliferate industry growth in the coming years. Growing incidence of bone and joint disorder is anticipated to amplify the market statistics Thus, the postponed & delayed appointments along with the hampered practice of bone growth stimulation negatively impacted the industry demand in the initial phase of 2020 however, effective implementation of strategies to minimize associated risks of procedures among COVID-19 patients and surged demand for bone growth stimulators. Also, among COVID-19 infected patients, joint diseases comprising rheumatoid arthritis were related to increased risk of infection and hospitalization owing to the iatrogenic effect of immunosuppressive agents comprising corticosteroids. Technological developments and the incorporation of telemedicine in these treatments has increased treatment compliance and promoted the acceptance of bone growth stimulators positively. For instance, certain orthopedic societies published recommendations regarding postponing elective orthopedic procedures, further negatively impacting the market revenue in early 2020.Īlthough, the COVID-19 pandemic fuelled the need for these products in home care settings. These developments led to suspension or postponing of the routine care by the majority of the healthcare facilities and only catering to the emergency requirements. The modified standard operating protocols revised by the regulatory authorities, integrating social distancing norms have hampered the daily operations of many healthcare services, including bone growth stimulation treatment procedures. The COVID-19 pandemic drastically promoted the disease burden and bundled the healthcare systems with a high influx of coronavirus infected patients, thereby hampering other medical services. The COVID-19 outbreak arose as an unparalleled health concern affecting the global industrial sectors, including the healthcare services and medical practices. However, in the long run, it will not have a very significant impact as the manufacturers innovate to make their products increasingly affordable. In the short run, this cost will be a major factor restricting bone growth stimulators industry expansion. In low-middle income countries, such a high treatment cost of bone morphogenetic protein prohibits most of the practitioners from opting for the treatment. The high cost of these treatment options hinders their adoption rate, especially in emerging markets.įor instance, as per the article published by the Journal of Neurosurgery, in 2019, the direct cost of bone morphogenetic proteins was USD 10,444. However, the high treatment cost associated with the bone morphogenetic proteins (BMP) is amongst the major factors hampering the bone growth stimulators market growth. It provides medical professionals with a powerful tool in spinal fusion surgeries and other related procedures. These products comprise bone growth stimulation devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). It is a form of treatment that is used to boost the healing of nonunion fractures that refers to a bone fracture. These devices are either external or surgically implanted into the area of the affected bone.
Thus, supportive initiatives for driving awareness regarding these disease conditions are further expected to render significant impact, driving the bone growth stimulators industry growth.īone growth stimulators are intended to enhance the growth of bone tissue or fracture healing process in the condition of delay or failure.
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Get more details on this report - Request Free Sample PDFįor instance, the International Osteoporosis Foundation (IOF) is actively operating to improve the awareness related to effective diagnosis and treatment of osteoporosis and related musculoskeletal diseases. High treatment cost related to bone morphogenetic proteins (BMP).Surging patient preference for non-invasive and minimally invasive surgical treatment.