PORTLAND, Ore. , Aug. 27, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Bone Harvester Market by Type (Marrow Harvesting and Cancellous Bone Harvesting), Application (Fractures, Fusions, Bone Repair, and Others), and End User (Hospitals, Ambulatory Surgery Centers, and Diagnostic Centers): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the bone harvester market was valued at $13.5 million in 2023, and is projected to reach $23.4 million by 2033, growing at a CAGR of 5.7% from 2024 to 2033.
Prime Determinants of Growth
The global bone harvester market is experiencing growth due to surge in geriatric population, high adoption of bone marrow transplantation, and rise in prevalence of orthopedic disorders. Furthermore, the developing healthcare infrastructure in the developing nations such as India, China, and Middle Eastern countries is expected to provide significant opportunity for growth.
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Segment Highlights
The bone harvester market is segmented into type, application, end user, and region. On the basis of type, the market is divided into marrow harvesting and cancellous bone harvesting. On the basis of application, the market is classified into fractures, fusions, bone repair, and others. As per end user, the market is segregated into hospitals, ambulatory surgery centers, and diagnostic centers. By type, marrow harvesting segment dominated the market share in 2023. This is attributed to the fact that advancements in medical research and technology have expanded the understanding of the therapeutic potential of bone marrow, driving increased demand for bone marrow harvesting procedures.
By application, the fusion segment dominated the market share in 2023. This is attributed to rise in number of spinal fusion procedures which are used for the treatment of various spinal disorders, including degenerative disc disease, spinal stenosis, and spinal fractures. By end user, the hospitals segment dominated the market share. Hospitals serve as the primary setting for a wide range of orthopedic and surgical procedures, including those that require bone grafts and bone harvesting devices.
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Regional Outlook
Countries such as Japan, India and China are experiencing rapid development in the healthcare infrastructure, availability of advance technology and increased healthcare expenditure. In addition, the development of medical technology companies in the Asia-Pacific region is expected to contribute significantly to the growth of the market. Furthermore, government initiatives such as healthcare funding are expected to drive the growth of the market.
Key Players
The report provides a detailed analysis of these key players in the global bone harvester market. These players have adopted different strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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