A new report published by Transparency Market Research, titled, “Bone Stabilization System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the bone stabilization system market. The report anticipates that the rise in incidence of osteoporotic long bone fractures, unmet medical needs, unavailability of proper procedures or techniques to treat osteoporotic long bone fractures, and surge in demand for technologically advanced products will drive the bone stabilization system market during the forecast period i.e, 2018-2026.
The TMR report has segmented the global bone stabilization system market based on end-user and region. Based on the end-user, the market is classified into hospitals, orthopedic clinic, ambulatory surgical centers, and others.
The hospitals segment is expected to account for larger market share owing to the increase in patient preference for minimally invasive surgical procedures and adoption of technologically advanced products.
In terms of region, report has split the global bone stabilization system market into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Of these, North America was a significant market for bone stabilization systems in 2017 and the report expects the trend to continue during the forecast period.
Dominance of North America is ascribed to the presence of large osteoporosis patient pool, world-class medical infrastructure, rise in awareness about the disease and its treatment, and regulatory approval of new products.
Europe was also a significant market for bone stabilization system in 2017, owing to the increase in economic and health care burden of osteoporotic fractures, increase in government initiatives, and rise in demand to cut down costs related to osteoporotic fractures treatment.
The factors fueling the growth in Asia Pacific are increase in number of women suffering from osteoporosis, aging population, surge in awareness about bone disorders and overall health, and rise in health care expenditure. The bone stabilization system market in Latin America and Middle East & Africa is expected to be driven by increase in health care expenditure and new product launches. As per the report, IlluminOss Medical is the only player operating in the global bone stabilization system market.
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