GlobalData Plc

The bone growth stimulator market in the Asia-Pacific (APAC) region, which covers Australia, China, Japan, New Zealand, South Korea, and Taiwan, is set to rise from $21.7 million in 2016 to around $29.3 million by 2023, representing a compound annual growth rate (CAGR) of 4.4%, according to GlobalData, a recognized leader in providing business information and analytics.

The company’s latest report states that key market drivers include a growing elderly population and subsequent rise in fracture incidence, osteoporosis, and spinal disease, rising patient awareness of the availability and benefits of stimulation treatments, and continued research into the efficacy of bone growth stimulators.

Jennifer Ryan, Healthcare Analyst for GlobalData, explains: “Electrical stimulation using bone growth stimulators has long been considered a viable treatment option for fracture non-unions, failed unions, and failed spinal fusions. However, the efficacy of these devices is not well established, and potential patient benefit through their use on fresh fractures is currently under investigation. Continued research on these devices is necessary to grow the market, as positive data will precipitate a more favorable reimbursement scenario, increasing physician and patient adoption.”

China will be the fastest growing market in the APAC region, with a CAGR of 6.1% over the forecast period, according to GlobalData. This space includes only external bone growth stimulators, as implantable devices are not currently approved for use in China, and growth will be driven largely by an improving healthcare landscape, a growing middle class population, and an increasing elderly population.

Ryan continues: “Access to healthcare has traditionally been a significant obstacle for many patients in China. In order to alleviate this, government officials have made significant improvements to the healthcare system in recent years that allow more than 95% of the population to have some form of coverage, although care can still be costly and quality can be subpar.

“Indeed, the wide disparity of healthcare services across China still presents a hurdle for many patients, particularly those with lower incomes who are living in rural areas. Additionally, bone growth stimulator manufacturers attempting to break into the Chinese market may face difficulty, as reimbursement policies favor the use of domestically manufactured devices by providing high reimbursement rates.”

– Information based on GlobalData’s report: MediPoint: Bone Growth Stimulators – Asia-Pacific Analysis and Market Forecasts.

Related Intelligence

Want more Insight like this?

Our interactive subscription platform has the most comprehensive data and analysis in your industry.

Request a Demo

Related Consulting

How can we help your business?

Our consultants are skilled in every specialist market niche to deliver solutions specifically designed for your individual requirements.

Request a Callback

    Press Release Healthcare

    Late-stage CKD-induced comorbidity therapeutics market to reach $10.5bn by 2026

    Sales for chronic kidney disease (CKD)-induced hyperparathyroidism (HPT), hyperphosphatemia (HP), and hyperkalemia (HK) therapeutics were estimated to be $4.2bn across the seven major markets (7MM*) in 2016. This is expected to grow to $10.5bn in 2026, at a Compound Annual Growth Rate (CAGR) of 9.5%, according to GlobalData, a leading data and analytics company.

    Press Release Healthcare

    Majority of oncology clinical trials in China failed to meet enrolment targets

    The majority of oncology clinical trials in China that had a start date between 1 January 2012 and 31 December 2017 failed to meet the planned enrolment targets, according to GlobalData, a leading data and analytics company. The company identified and analyzed enrollment efficiencies of 324 clinical trials during the period and found that on...

    Press Release Healthcare

    Need for supportive care in oncology will increase during the next decade

    The need for effective supportive care in oncology will increase in the next decade as patients continue to live longer and cancer progresses to become more like a chronic disease. This includes the need for chemotherapy-related conditions, as chemotherapy will remain the backbone of cancer therapy for the foreseeable future, observes GlobalData, a leading data and analytics company.

    Press Release Healthcare

    World Cancer Day: What will 2018 mean for cancer research and treatment?

    The theme of this year’s World Cancer Day held on 4th February of “We can. I can.” aimed to reinforce the public message that all individuals and groups can play their part in reducing the global burden of cancer. Indeed in recent years many events have involved collaborations between traditional drug developers, cancer treatment professionals and those of varying disciplines. Examples include the IBM Watson supercomputer which is helping physicians make treatment decisions and the development of other databases such as ASCO’s CancerLinQ which assists oncologists in monitoring and analyzing patient data.

    Press Release Healthcare

    Melanoma sales are projected to rise to $5.5bn in 2026

    The value of the melanoma market was estimated to be $3.3bn across the seven major markets (7MM*) in 2016. This is expected to grow to $5.5bn in 2026, at a Compound Annual Growth Rate (CAGR) of 5.3%, according to GlobalData, a leading data and analytics company.

Media Enquiries

If you are a member of the press or media and require any further information, please get in touch, as we’re very happy to help.

Emailpr@globaldata.com
PhoneEMEA: +44 207 832 4399
PhoneAPAC: +91 40 6616 6809
Onlinecontact online

56% of #consumers are concerned about the impact of diet. Join us for more insight @incosmetics #cosmetics #trends… https://t.co/wJOJOqYIJF