Global Bone Growth Stimulator Market By Product (Bone Growth Stimulation Devices, Electrical Bone Growth Stimulators, Pulsed Electromagnetic Field Devices, Bone Morphogenetic Proteins, and Platelet-Derived Growth Factor), By Indication (Spinal Fusion Surgeries, Delayed Union & Non-Union Bone Fractures, Oral and Maxillofacial Surgeries, Trauma Injury and Fractures, Ontogenesis, and Others), By End-User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The global bone growth stimulators market size is expected to be worth around USD 3,208 million by 2032 from USD 1,629 million in 2022, growing at a CAGR of 7.2% during the forecast period from 2023 to 2032.

Bone growth stimulation is an alternate therapy that has developed in approval over the previous few years, especially for bone healing. Bone stimulators are frequently used for fractures that have failed to heal independently. The cases of bone fractures and sports injuries are rising gradually, augmenting the requirement for bone growth stimulators worldwide. Bone growth stimulators have positively impacted orthopedic surgeries. In addition, increase in patient consciousness, including bone growth stimulators, technical profits by bone growth stimulation strategies in bone Difficult fracture treatment and orthopedic disease, and technological developments in bone growth stimulators.

Key Takeaways

• Market Growth: The bone growth stimulators market is set to grow at a 7.2% CAGR from 2022 to 2032, reaching $3,208 million.
• Product Focus: Non-invasive bone growth stimulation devices account for 54% of the market share.
• Spinal Fusion: Spinal fusion surgeries lead the market, with a significant share due to increased spinal cord disorders.
• Hospitals & Clinics: Hospitals and clinics hold 38% of the market share, driven by high patient visits.
• Driver – Disease Prevalence: The rising prevalence of bone diseases, like osteoporosis, is a major market driver.
• Opportunity – Platelet-rich Plasma: The use of Platelet-rich plasma for orthopedic disorders presents growth opportunities.
• Trend – Non-Invasive Devices: A trend towards non-invasive bone growth stimulators using ultrasound and magnetic technology is observed.
• Regional Dominance: North America accounts for 40% of the market revenue, primarily due to high osteoporosis prevalence and healthcare spending. Europe is also expected to have a substantial market size, with contributions from leading and emerging companies.

Product Analysis

Bone Growth Stimulation Devices Segment to Witness Significant Growth

Based on a product analysis, the global bone growth stimulator market is segmented into bone growth stimulators, bone morphogenic proteins, platelet-derived growth factors, and electrical bone growth stimulators. Additional sub-segmented into combined magnetic field devices, capacitive coupling devices, and pulsed electromagnetic field devices are sub-segmented into implanted bone growth stimulators and ultrasound bone growth stimulators.

Among these, the bone growth stimulation devices segment is considered the largest market share at 54%. Throughout the forecast period, due to the rising focus of research to develop new non-invasive stimulating devices, there has been an increased requirement for products. The key factor that boosts the market growth is an increase in demand for bone growth stimulation devices, an increase in the geriatric population, a rise in the incidence of spinal deformities, and development in bone growth stimulation devices. Moreover, the platelet-rich plasma section is anticipated to grow significantly during the forecast period. Owing to influences such as the acceptance of technologically advanced platelet–rich plasma products, the dominance of rheumatoid arthritis, osteoarthritis, and another disease. Rise in amount of orthopedic surgeries and high demand for plasma therapy in orthopedics therapeutic areas.

Indication Analysis

Spinal Fusion Surgeries Segment Dominates the Market

Based on indication, the global bone growth stimulator market is classified into spinal fusion surgeries, delayed union& non-union bone fractures, oral and maxillofacial surgeries, trauma injury and fractures, ontogenesis, and other indications. The spinal fusion surgeries segment registers the highest market share due to the increase in incidences of spinal cord disorders, rate of minimally invasive spinal surgeries, increase in technological advancements and degenerative spinal conditions, and rise in patient inclination concerning spinal fusion surgery processes worldwide.

On the other hand, the union and non-union bone fractures sections are anticipated to witness a significant growth rate during the forecast period. High growth is mainly owing to rising incidences of trauma and fracture cases worldwide. In addition, the increasing incidence of sports injuries and road accidents is dominating an increase in cases of fractures, thus enhancing segmental growth.

End-User Analysis

Hospitals & Clinics Segment Dominant the Market Growth

Based on end–user, the global bone growth stimulator market is classified into hospitals & Clinics, ambulatory surgical centers, home care, and orthopedics clinics. The hospital & Clinics segment boosts the global market share by 38%., due to a high number of patient visits and many orthopedic procedures led in hospital facilities. The vast number of global hospitals, including the developed and emerging markets. In addition, government hospitals’ indispensability in subsidized care in several markets, particularly developing ones, is the cause of segments and dominance.

Key Market Segments

By Product

• Bone Growth Stimulation Devices
• Electrical Bone Growth Stimulators
• Combined Magnetic Field Devices
• Capacitive Coupling Devices
• Pulsed Electromagnetic Field Devices
• Implanted Bone Growth Stimulators
• Ultrasound Bone Growth Stimulators
• Bone Morphogenetic Proteins
• Platelet-Derived Growth Factor

By Indication

• Spinal Fusion Surgeries
• Delayed Union& Non-Union Bone Fractures
• Oral and Maxillofacial Surgeries
• Trauma Injury and Fractures
• Ontogenesis
• Other Indications

By End-User

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Home Care
• Orthopedics Clinics

Drivers

Increasing Dominance of Bone Diseases to Drive the Product Demand

The growing prevalence of bone disease around the sector is the main factor supporting such stimulators’ use, thus, emerging market growth. Osteoporosis is one of the leading causes of fractures worldwide. Moreover, the rising diagnosis of conditions and fast development of technologically advanced products for effective treatment will further support market expansion. Also, the rising number of oral and maxillofacial surgeries worldwide will drive market growth.

Rising R&D Activities Combined with Increasing Amount of Product Launches to Support Bone Growth Stimulator Market Growth

Rising efforts from various manufacturers to develop new and innovative technologically advanced products will significantly support industry growth. In addition, minimally invasive processes are increasingly preferred due to their benefits, such as reduced postoperative hospital stay, reduced surgical trauma, painless treatment, and greater affordability.

Restraints

Poor Medication Adherence among Patients Owing Due to High Burden to Limit Market Growth

Increasing product launches have also surged the number of product recalls worldwide, thereby hindering market growth to a certain extent. For example, Zimmer Biomet started. Therefore, such occurrences might restrict the market growth.

Opportunity

Increasing use of Platelet-rich plasma creates a lucrative opportunity for Bone Stimulator Market

Platelet-rich plasma is increasingly used in numerous therapeutic areas as the first–line therapy for various orthopedic disorders, such as arthritis, chronic tendinitis, and musculoskeletal injuries. This can be primarily recognized for the practical tissue growth abilities and the advantages platelet-rich plasma therapy offers. Platelet-rich plasma is also effective in treating cardiac muscle injuries and nerve injuries. For example, therapy is usually preferred during hair transplantation and plastic surgeries. The clinical applications of Platelet-rich plasma are anticipated to increase across main healthcare markets in the upcoming years. Thus, it is projected to offer lucrative growth opportunities to players offering Platelet-rich plasma products in the market.

Trends

Increasing Inclination for Non-Invasive Bone Growth Stimulators is the Newest Market Trend

The newest trends witnessed over a few years are the growing inclination and acceptance of non-invasive bone growth stimulators. Non-invasive stimulators use ultrasonic signals, electrical fields, and magnetic to encourage ontogenesis in conjugation with spinal fusion. The device is helpful for the location of a fracture during the entire treatment process.

Regional Analysis

North America Region Accounted Significant Revenue Share of the Bone Growth Stimulator Market

North America accounted for a significant bone growth stimulator market revenue share of 40% due to the high predominance of osteoporosis. The main factors assisting regional prevalence are the rising healthcare expenditures, and increasing occurrence and occurrences of associated bone disorders that require the administration of bone growth stimulators. Moreover, robust procedural volumes affecting orthopedic conditions will considerably contribute to this region’s high shares. Europe anticipated a considerable market size during the forecast period. Leading and emerging companies are projected to contribute to the region’s growth.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Zimmer Biomet and Orthofix Holdings, Inc. to Lead the Market Growth

Zimmer Biomet and Orthofix Holdings, Inc. account for a significant part of the share in the global market owing to the varied product portfolio of Zimmer Biomet and Novel product appreciations acknowledged by Orthofix Holdings, Inc. Other prominent key players in the market include Stryker Corporation, Medtronic plc, DePuy Synthes, Arthrex, Inc., Terumo Corporation, Ossatec Benelux B.V., and others.

The following are some of the major players in the global bone growth stimulator market industry

Market Key Players

• Medtronic plc
• Zimmer Biomet
• DePuy Synthes
• Orthofix Holdings, Inc.
• Bioventus LLC.
• Arthrex, Inc.
• Terumo Corporation
• Stryker Corporation
• Ossatech Benelux B.V.
• BTT Health GmbH
• Orthofix Medical, Inc.
• Other Key Players

Recent Development

• November 2022 – DJO, LLC proclaimed the achievement of the bone growth stimulation device industry from OrthoLogic Corporation.
• March 2021 – Bioventus LLC Pronounced the acquisition of Bioness, Inc. This achievement would allow Bioventus LLC to enlarge its bone growth therapy product selection.
• April 2021 – Orthofix Holdings, Inc. entered an exclusive license contract to commercialize the inventive portfolio of IGEA’s cartilage, bone, and soft tissue stimulation products in North America and Canada.

Report Scope