Overview

Bone Growth Stimulator Market is poised to value over CAGR of over 5.2% during the forecast period 2022 to 2028.

The increased preference of patients for minimally and non-invasive surgical procedures, rising patient population and advantages of performing bone stimulator procedures for treating bone fractures are some of the crucial factors contributing to the growth of the market. Furthermore, a rising geriatric population across the world has increased the number of patients diagnosed with arthritis as these individuals are more prone to disorders like gouty arthritis and osteoarthritis. According to a report provided by the Arthritis Foundation, over 45 million Americans were diagnosed with arthritis in 2015, and it is predicted that this number shall reach over 80 million by 2040. Such a rise in the number of arthritic patients shall boost the bone growth stimulator market growth.
There has been a significant rise in the number of accident and trauma related cases causing bone fractures. As per the Centre for Disease Control and Prevention, over 40 million people in the United States are admitted for traumatic injury emergencies every year. Some of the road accidents and trauma related injuries can cause damage to the spine or delayed non-union and union fractures that are required to be surgically treated. These bone stimulator devices are used for healing bones during a failed spinal fusion treatment, delays in the union of fresh bone fractures with the application of electrical or ultrasonic current to the site of the bone that requires to be fused.
The research and development activities related to bone stimulation has recently increased owing to the provision of investments by government bodies. For instance, the American Academy of Orthopaedic Surgeons, the North American Spine Foundation are major contributors in the development of devices and implants for spinal treatments by conducting different training programs for physicians across the world and by providing finds for research and development. Furthermore, many key players are introducing novel bone growth stimulators in the market that are economic and can be used for minimally invasive surgeries. For instance, Orthofix Inc., a company based in Texas has launched two new bone growth stimulators, the SpinalStim and the CervicalStim. These have been approved by the U.S FDA as well as the European CE Mark. They have also developed an application, Stim onTrack, that provides physicians with data in real-time, thereby enabling the effective detailing of the treatment protocol of the patient. All these factors shall increase the bone growth stimulator market demand substantially.

Market Segmentation:

By Product
• Bone Growth Stimulation Devices
o External Bone Growth Stimulators
• Combined Magnetic Field (CMF) Devices
• Capacitive Coupling (CC) Devices
• Pulsed Electromagnetic Field (PEMF) Devices
o Implanted Bone Growth Stimulators
o Ultrasonic Bone Growth Stimulators
• Bone Morphogenetic Proteins (BMP)
• Platelet-rich Plasma (PRP)
By Application
•   Spinal Fusion Surgeries
•   Delayed Union and Non-Union Fractures
•   Oral and Maxillofacial Surgeries
•   Others
By End User
•   Hospitals and Clinics
•   Home Care
•   Others
By Region
•   North America
•   Europe
•   Asia-Pacific
•   Latin America
•   Middle East and Africa

The market is fragmented into product, application, end user and region. The product segment is categorised into bone morphogenetic proteins, platelet-rich plasma, implanted bone growth stimulators, ultrasonic bone growth stimulators, external bone growth stimulators, capacity coupling devices. The external bone growth stimulators segment held the largest bone growth stimulator market share owing to the increased insistence for bone healing surgical treatments that are non-invasive. Additionally, these devices are lightweight, portable, powered by batteries and are easy to handle thereby increasing the adoption of these device by patients. Additionally, the availability of novel products like CMF SpinaLogic Bone Growth Stimulators and CMF OL1000 Bone Growth Stimulators shall augment the growth of the market substantially.
The application segment is bifurcated into spinal fusion surgeries, delayed union and non-union bone fractures, oral and maxillofacial surgeries and others. The spinal fusion surgeries dominate the market, and this can be attributed to a rise in the prevalence of spinal cord injuries like spinal stenosis, herniated discs and fractures. As per the World Health Organization, over 300,000 people get their spinal cord injured every year either due to violence, falls or road accidents. The geriatric population, who are more prone of getting a bone fracture, is consistently rising. As per the U.S Census Bureau, over 615 million people were above the age of 65 in 2015 and it is expected that this number will reach 1 billion by 2030. Such a surge in the geriatric population shall increase the demand for such products and surgeries across the world.

Regional Analysis:

The North America region subjugated the market, and this is due to increase in the number of patients diagnosed with vertebral fractures or osteoporosis. As per the Association of Neurological Surgeons, over 7.8 million women in the United States are diagnosed with osteoporosis and over 25% of women are predicted to be diagnosed with vertebral compression fractures. The Asia Pacific region, however, is predicted to grow at a remarkable rate during the forecast period with the rising number of trauma and road accident cases. As per the report provided by the World Road Statistics, over 500,000 road accidents were reported in 2015 in India, with the rise of over 1.3% from 2014. Such a high patient number shall promote the usage of bone stimulator devices.

Competitive Landscape:

The key market players included are Orthofix Holdings Inc., Medtronic, Zimmer Biomet, DJO Global Inc., Bioventus LLC, Stryker, DePuy Synthes, Arthrex Inc., Isto Biologics, Terumo BCT Inc.

FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key market trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global bone growth stimulators market by product, by application, by end user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

Flexible Delivery Model:

•   We have a flexible delivery model and you can suggest changes in the scope/table of content as per your requirement
•   The customization Mobility Care offered are free of charge with purchase of any license of the report
•   You can directly share your requirements/changes to the current table of content to: sales@futurewiseresearch.com