The Asia-Pacific bone growth stimulator market will likely see a boost from $21.7 million to $29.3 million by 2023, according to a GlobalData analysis.
Here are five predictions:
1. The market will grow at a 4.4 percent compound annual growth rate between 2016 and 2023.
2. An increasing geriatric population; growing number of fracture, osteoporosis and spinal diseases cases; and an increasing patient awareness of stimulation treatments will spur the market.
3. China will lead the region's market, growing at a 6.1 percent CAGR through 2023.
4. China's market only encapsulates external bone growth simulators, as the country has not approved implantable devices.
5. The Chinese market favors domestically manufactured devices by offering high reimbursement rates.