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Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Bone Growth Stimulator Market
Bone Growth Stimulator Market
Bone Growth Stimulator Market
Published date: Oct 2023 • Formats:
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  • Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Bone Growth Stimulator Market

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

  • Published date: Oct 2023
  • Report ID: 100183
  • Number of Pages: 374
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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    • Report Overview
    • Key Takeaways
    • Product Analysis
    • Indication Analysis
    • End-User Analysis
    • Key Market Segments
    • Drivers
    • Restraints
    • Opportunity
    • Trends
    • Regional Analysis
    • Key Players Analysis
    • Recent Development
    • Report Scope

    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.

    Bone Growth Stimulator Market 1

    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.

    Bone Growth Stimulator Market 3

    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

    Report Features Description
    Market Value (2022) US$ 1,629 Mn
    Forecast Revenue (2032) US$ 3,208 Mn
    CAGR (2023-2032) 7.2%
    Base Year for Estimation 2022
    Historic Period 2016-2022
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered 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 Fractures, and Oral and Maxillofacial Surgeries, Trauma Injury and Fractures, Ontogenesis, and Other Indications; By End-User- Hospitals & Clinics, Ambulatory Surgical Centers, Homecare, and Orthopedics Clinics
    Regional Analysis 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; The Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive Landscape Medtronic plc, Zimmer Biomet, DePuy Synthes, Orthofix Holdings, Inc., Bioventus LLC, Arthrex, Inc., Terumo Corporation, Stryker Corporation, BTT Health GmbH, Ossatec Benelux B.V.,  and Other Key Players
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    What is the Bone Growth Stimulator Market research report, and what does it cover?

    The Bone Growth Stimulator Market research report is a comprehensive study that provides insights into the global market for bone growth stimulators. It covers market trends, key players, growth drivers, and challenges, as well as market segmentation based on product type, application, and geography.

    Who can benefit from reading the Bone Growth Stimulator Market research report?

    The Bone Growth Stimulator Market research report is a valuable resource for healthcare professionals, medical device manufacturers, investors, and anyone interested in understanding the bone growth stimulator market. It can help stakeholders make informed decisions regarding investments, product development, and market expansion.

    What are the key drivers of growth in the Bone Growth Stimulator Market?

    The key drivers of growth in the Bone Growth Stimulator Market include the rising prevalence of bone-related disorders such as osteoporosis, increasing adoption of non-invasive treatment options, and growing awareness of the benefits of bone growth stimulators. Technological advancements and product innovations also contribute to market growth.

    What are the challenges facing the Bone Growth Stimulator Market?

    The Bone Growth Stimulator Market faces several challenges, including high cost of treatment, lack of reimbursement policies, and limited availability of trained healthcare professionals. Regulatory and compliance issues related to medical devices and patent protection are also significant challenges.

    What are the key players in the Bone Growth Stimulator Market?

    The key players in the Bone Growth Stimulator Market include Medtronic plc, Zimmer Biomet, DePuy Synthes, Orthofix Holdings, Inc., Bioventus LLC., Arthrex, Inc.

    Bone Growth Stimulator Market
    Bone Growth Stimulator Market
    Published date: Oct 2023
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    • Medtronic plc
    • Zimmer Biomet
    • DePuy Synthes
    • Orthofix Holdings, Inc.
    • Bioventus LLC.
    • Arthrex, Inc.
    • Terumo Corporation Company Profile
    • Stryker Corporation Company Profile
    • Ossatech Benelux B.V.
    • BTT Health GmbH
    • Orthofix Medical, Inc.
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