Global Bone Growth Stimulator Market By Product (Bone growth stimulation devices, Platelet-Rich Plasma (PRP), and Bone Morphogenetic Proteins (BMP), By Application (Delayed union & nonunion bone fractures, Spinal fusion surgeries, Oral and maxillofacial surgeries, and Other Applications), By End-Use (Home care, Hospitals and clinics, and Other End-Uses), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Bone Growth Stimulator Overview:

The 2021 global bone growth stimulator market was worth USD 2,110 million. This market is expected to grow at a compound annual growth rate of 5.1% between 2022-2032.

Globally, the market is growing due to the increasing prevalence of arthritis. Market growth has been driven by obesity and aging, which have led to an increase in arthritis prevalence. People over 50 are most at risk for osteoarthritis or gouty arthritis.

Global Bone Growth Stimulator Market Analysis:

Product Analysis:

Due to increased demand for non-invasive surgical treatment for bone healing, the largest segment of the market was stimulation devices. These devices are also lightweight, battery-powered, portable, and easy to use, which is why they are becoming more popular with patients.

CMF OL1000 Bone Growth Stimulators are available, which is expected to increase market development. External stimulator devices tend to be less costly than invasive intra-muscular devices. This is expected to boost their adoption in countries like South Africa and India.

BMP and PRP will see lucrative growth due to increasing incidences of spinal injuries, arthritis, trauma, and accidents. From 2018 to 2020, 61 million Americans suffered from rheumatoid arthritis. PRP is also safe and has lower adverse effects. There are no allergic reactions. This will likely boost growth in the market.

Application Analysis:

In terms of revenue, the segment that performs spinal fusion surgeries dominated this market. The market leader in terms of revenue was the spinal fusion segment. WHO states that around 250,000-500,000 people are affected by spinal cord injuries every year worldwide.

This is primarily due to falls, road accidents, and violence. The market is being driven by the increasing number of fractures and age-related spinal issues. The loss of bone mass and a decrease in bone density with age, can lead to fractures and other spinal problems.

Globally, the primary driver of demand for these products is the increase in the number of people over 65 who are susceptible to osteoarthritis. The study period will see significant growth in the non-union and delayed-union bone fracture segments.

The market is expected to grow due to the high prevalence of osteoporosis which can cause pain and debilitating injuries. According to the International Osteoporosis Foundation (IOF), osteoporosis results in approximately 10 Million fractures per year.

End-Use Analysis:

The largest market share was held by hospitals and clinics due to an increasing number of patients who have suffered from trauma, road accidents, spine injuries, and fractures. Due to their high patient turn-around and frequent readmissions, this market segment was the most dominant in 2021.

This segment will also grow due to the increased attention paid to the development of healthcare infrastructures in developing countries, such as the Asia Pacific or African regions.

The use of these products in hospitals or clinics will increase due to the rising disposable income as well as the availability of advanced medical equipment for treating various chronic diseases.

Product advancements and increasing healthcare awareness will drive homecare to a lucrative growth segment. These devices can be carried around easily and are easy to use at home. They can be used for managing arthritis, fractures, chronic pain, osteoporosis, and acute & chronic pain.

The availability of advanced noninvasive products is expected to increase the popularity of these home-use products. Other end-use segments include research institutes, ambulatory surgical centers, and other medical facilities.

The forecast period will witness a significant increase in spine-fusion surgeries in ambulatory surgical centers, which is expected to lead to a profitable CAGR. Growth is also expected to be driven by the fact that research institutes are involved in the studies of BMP/PRP to enhance and expand their clinical applications.

Key Market Segments:

By Product

• Bone growth stimulation devices
  • Ultrasonic bone growth stimulators
  • Implanted bone growth stimulators
  • External bone growth stimulators
• Platelet-Rich Plasma (PRP)
• Bone Morphogenetic Proteins (BMP)

By Application

• Delayed union & nonunion bone fractures
• Spinal fusion surgeries
• Oral and maxillofacial surgeries
• Other Applications

By End-use

• Home care
• Hospitals and clinics
• Other End-Uses

Market Dynamics:

An increasing number of accidents and trauma cases is one of the key drivers that could drive up demand for the products. According to the CDC, approximately 41 million Americans go to the emergency room annually with traumatic injuries.

Trauma and road accidents are likely to cause severe spinal injuries. Delay union and nonunion fractures also require surgical treatment. These devices can promote bone healing during failed spinal fusions, fracture nonunion, delayed fusions, and new fractures. They apply an ultrasonic or electric current to the site of the fusion.

Platelet-rich Plasma (PRP), and Bone Morphogenetic proteins (BMP), assist with bone growth in the treatment of various spinal surgeries and fractures. Because these products allow for quicker healing, which results in faster recovery, it is expected that more people will adopt them.

The number of orthopedic and spine surgeries is on the rise due to increasing injuries and trauma cases. This increase has also accelerated the demand for these devices and BMP/PRP products, which will drive market growth.

The market’s growth has been hampered by frequent recalls of products. The reputation of a manufacturer and their business are affected by product recalls. This can affect customers’ loyalty to the company’s products. Recalls can also be detrimental to the efficacy of new products and may delay their adoption.

Regional Analysis:

North America held the largest revenue share of 42% for the bone growth stimulator market. According to the American Association of Neurological Surgeons (AANS), 8 million American women are currently suffering from osteoporosis.

Additionally, 27% of American women are believed to be affected by Vertebral Compression Fractures. VCFs have increased in number, leading to a greater demand for bone growth stimulators for enhanced healing. This boosts the market growth.

Europe was the second-largest European market for bone stimulation devices due to the demand for innovative treatments for chronic illnesses and the presence of local medical device manufacturers such as Medtronic, Orthofix Holdings, Inc., Zimmer Biomet, Bioventus, Stryker, Terumo BCT, Inc. Additionally, the market is expected to be driven by the highly developed healthcare infrastructure in France, Germany, Switzerland, and the UK.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

This market is fragmented and there are many players both local and worldwide. There are many large players in the market, such as Medtronic, Orthofix Holdings Inc., DJO Global Inc., Zimmer Biomet, Bioventus LLC; DePuy Synthes, Stryker, Arthrex Inc., Terumo BCT Inc. Isto Biologics. Medtronic is present in approximately 260 locations around the world in more than 150 different countries.

Leaders in the industry are involved in strategic partnerships, mergers & acquisitions, and product development in order to increase their revenue share. Strategic collaborations, mergers & acquisitions can help companies expand their business and geographical reach.

Key Market Players:

• Medtronic
• Orthofix Holdings Inc.
• DJO Global Inc.
• Zimmer Biomet
• Bioventus LLC
• DePuy Synthes
• Stryker
• Arthrex Inc.
• Other Key Players