Bone Growth Stimulators to Witness a Hike in Adoption; Advanced Solutions to Prosper the Field
21 Jul 2020
A variety of techniques are used to enhance bone healing and fromerasthe orthopedic surgeons are using bone growth stimulation methods to medicate fractures and nonunions and for fusing lumbar spines. Bone growth stimulations may involve the use of invasive, semi-invasive, and non-invasive techniques. A bone stimulator carries ultrasonic or pulsed electromagnetic waves to the nonunion site in order to arouse healing.
There are a number of options available as a treatment for non-union, delayed-union, congenital pseudoarthrosis, and failed arthrodesis such as magnetic field therapy, ultrasonic energy, low-energy laser therapy, extracorporeal shockwave therapy, and other mechanical therapies. In addition, the researches over bone stimulators are still carried away by several organizations and authorities to understand and expand its uses.
Presently, the complete market has been interrupted due to the unsolicited arrival of the Covid-19. The pandemic has impacted almost every industry and is still wreaking havoc in more than one way. However, with the government imposed relaxations on the stringent regulations and reopening of several industries, several key market players are coming with new ideas and strategies to provide advanced solutions.
Recently, Orthofix, a global medical device company has announced regarding the approval of food and drug administration (FDA) for an updated version of its bone growth stimulating app, STIM on Track. The app was introduced earlier in 2017, accompanied by the company’s bone growth therapy devices. The bone growth stimulators are an FDA-approved alternate option for surgery for nonunion fractures and spinal healing. Whereas, STIM onTrack assists the patients to regulate adherence to these stimulators. Furthermore, the new version of STIM onTrack allows the patients to virtually share the information regarding the physical well-being with the physician via outcome measure questionnaires. The app also includes reminders for daily treatments and a calendar for physicians to check on the patient’s device usage.
There has been a rise in the adoption of bone growth stimulators, due to the increase in the number of accidents and fractures. Also, the growing rate of the geriatric population expands the demands for such treatments. On the other hand, certain medical conditions such as diabetes, obesity, renal disorders, and vascular diseases also boost the requirement of using bone growth stimulators. Increased platelet-rich plasma and bone morphogenetic proteins widen the use further.
A report published by Allied Market Research reveals that the global bone growth stimulators market is estimated to reach $1.86 billion by 2026. The factors such as accessibility of cost-efficient bone growth stimulation devices rise in awareness for bone growth stimulators among the patients, and methodical benefits offered by the devices in bone fracture treatment and orthopedic diseases augment the growth of the market. Moreover, new researches for the advancement of bone growth stimulation processes and a surge in adoption by both prescribers as well as patients would usher innumerable prospects for bone growth stimulators in the near future.
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.