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Pseudarthrosis Treatment Market is Projected to Reach $1.37 Billion at a CAGR 4.6% by 2034 | Fact.MR Report
Emphasis on development of improved biocompatible materials leading to decreased complexity of pseudarthrosis treatment.
Rockville, MD, Sept. 05, 2024 (GLOBE NEWSWIRE) -- According to a new industry report released by Fact.MR, revenue from the global pseudarthrosis treatment market is estimated to reach US$ 879.4 million in 2024 and thereafter increase at a CAGR of 4.6% from 2024 to 2034.
Market growth is being driven by expanding research and development into advanced medical devices to address complicated ailments and ongoing advancements in biocompatible materials, which are specifically made for healing and fusing purposes. Depending on the condition, pseudarthrosis treatment is typically becoming very costly for individuals. Positive government reimbursement programs in various countries are reportedly helping to expand the market for pseudarthrosis treatments.
North America holds a leading position in the market due to rapid innovations in the surgical and medical device industries. However, demand for pseudarthrosis treatment is growing at a higher pace in South Asia & Pacific compared to other regions.
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Key Takeaways from Market Study
- The global market for pseudarthrosis treatment is projected to reach US$ 1.37 billion by 2034-end.
- North America is forecasted to hold 1% of the global market share by 2034. This market is forecasted to generate revenue worth US$ 630.6 million by 2034-end.
- Revenue from the sales of bone growth stimulators is estimated at US$ 258.9 million in 2024.
- The market in India is evaluated to expand at a CAGR of 7.8% through 2034.
- By mode of purchase, OTC sales are expected to hold 1% of the global market share by 2034.
- The market in the United States is analyzed to generate revenue of US$ 541.9 million by 2034.
- The market in Western Europe is projected to reach US$ 240.7 million by 2034.
“Due to their modern medical infrastructure and interdisciplinary care teams, hospitals will continue to lead and account for a significant portion of the market share,” says a Fact.MR analyst
Leading Players Driving Innovation in the Pseudarthrosis Treatment Market:
Key industry participants like AbbVie; Amgen; Astellas Pharma; AstraZeneca; Bayer; Bioventus; Cipla; Daiichi Sankyo; Eli Lilly; Eurofarma; Fresenius; GlaxoSmithKline; Grunenthal; Hikma Pharmaceuticals; Johnson & Johnson; Julphar; Medtronic; Novartis; NuVasive; Orthofix; Pharco Pharmaceuticals; Roche; Sanofi; Stryker; Sun Pharma; Tabuk Pharmaceuticals; Takeda; Teva Pharmaceuticals; UCB; Zimmer Biomet., etc. are driving the pseudarthrosis treatment industry.
Rising Preference for Bone Growth Stimulators
Bone growth stimulators are typically considered to be appropriate for treating pseudarthrosis since they are more effective and minimally invasive. In these devices, either electrical stimulation or ultrasound therapy is used to stimulate cell function and produce growth factors that help bones recover. Bone growth stimulators are particularly useful in cases where conventional treatments such as casting or surgery are ineffective.
Applying them externally reduces the dangers associated with invasive procedures. In addition, they support the patient's ability to move somewhat during treatment.
Pseudarthrosis Treatment Industry News:
- The use of pulsed electromagnetic field stimulation (PEMF) as a post-operative treatment for lumbar spinal fusion procedures in patients at risk of pseudoarthrosis was examined in a prospective, multicenter study, which was published in December 2023 by Orthofix Medical Inc., a leading global provider of spine and orthopedic treatments. According to research published in the International Journal of Spine Surgery1, individuals treated with the SpinalStim bone growth treatment device had a high incidence of successful fusion with considerable advantages in pain, function, and quality of life, despite having risk factors for pseudoarthrosis.
- The CAVUX facet fixation system (FFS) from Providence Medical Technology was approved by the US Food and Drug Administration (FDA) in December 2022 for a new use: patients who require autogenous or allogenic bone graft revision for anterior pseudoarthrosis at one level, from C3 to C7. The FFS, a special integrated cage and screw device, is inserted into each facet joint to stabilize it prior to fusion.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pseudarthrosis treatment market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on treatment type (biologics, NSAIDs, opioid & non-opioid analgesics, corticosteroids, bone growth stimulators, antibiotics, stem cell therapy, orthobiologics), age group (children, adults, elderly), mode of purchase (Rx, OTC), and end user (hospitals, specialty clinics, outpatient surgical centers, home care settings), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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