Portland, OR, June 29, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global spine bone stimulators market generated $487.8 billion in 2020, and is projected to reach $665.5 million by 2030, witnessing a CAGR of 3.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in the incidence of spinal cord disorder, rapid escalation in geriatric population, increase in incidence of spinal deformities, and upsurge in need for adequate healthcare facilities drive the growth of the global spine bone stimulators market. However, availability substitute, fixation instrumentation during fusion & non-union fractures, and high initial cost of these devices hamper the market growth. Contrarily, rise in awareness of newly developed technologies and upsurge in healthcare expenditure are expected to provide lucrative growth opportunities for the market.
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COVID-19 Impact Analysis:
- The outbreak of the COVID-19 pandemic led to the global lockdown, which in turn, hampered the overall growth of the global spine bone stimulators market.
- The lockdown resulted to reduction in outdoor sport activities and in-road traffic accidents. Also, reduction in planned surgeries affected the market growth.
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