The Global Bone Growth Stimulators Market accounted for US$ 1,124Mn in 2020 and is expected to arrive at US$ 1,681Mn by 2028 with a considerable CAGR of 5.3%during the projected years 2021 to 2028.
Bone growth stimulation (BGS) is a type of treatment suggested by many orthopedic surgeons used to promote recovery from fissures and non-union fractures, which are bone fractures that show no visible signs of healing. The BGS is a simple device that can be transplanted under or over the skin. Additionally, it is also used to promote bone regeneration and healing of hard-to-heal fractures or fusions by passing an ultrasonic or electrical stimulator current through the fracture or fusion site. Besides, BGS treatment is considered safe and secure, and currently, many bone growth stimulators devices have been approved for use by the FDA. Moreover, many insurers consider BGS devices to be medically beneficial in certain situations and will often cover their use. Patients can use these devices at home on a daily basis, on prescription. Bone stimulation is typically used for a set number of hours per day as prescribed by an orthopedist.
|Market||Bone Growth Stimulators Market|
|Market Size 2021||US$ 1,124 Mn|
|Market Forecast 2028||US$ 1,681 Mn|
|CAGR||5.3% During 2021 - 2028|
|Analysis Period||2018 - 2030|
|Forecast Data||2021 - 2028|
|Segments Covered||By Type, By Application, By End-Use And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Arthrex, Inc., Isto Biologics, Zimmer Biomet Holdings, Inc., Colfax Corporation (Djo Global, Inc), Terumo Corporation, Johnson & Johnson (Depuy Synthes), Essex Woodlands Healthcare Partners (Bioventus Llc), Medtronic Plc., Orthofix Medical Inc., and Stryker Corporation.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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WorldwideBone Growth Stimulators Market Dynamics
The increasing aging of the population, as well as the increase in bone fractures and road accidents, are the main drivers of the market growth. Also, an increase in the incidence of arthritis, an increase in patients with type 1 diabetes, and other health problems such as obesity, vascular disease, and spinal cord injury are driving the demand of the market. In addition, an increase in platelet-rich plasma and bone morphology protein, an increase in patient inclinationtowardsnon-invasive and minimally invasive orthopedic surgeries, and the consumption of affordable bone growth stimulator devices are the factors fueling the demand of the global bone growth stimulator market during the projectedyears. However, market growth is expected to be hampered by strict certification procedures and limited clinical and medical reimbursement policies for bone stimulation devices. In addition, the increased use of magnetic and electric bone growth stimulators will further boost sales in the coming years.
Market by Type
o Electrical Bone Growth Stimulators
§ Pulsed Electromagnetic Field (PEMF) Devices
§ Capacitive Coupling (CC) Devices
§ Combined Magnetic Field (CMF) Devices
o Ultrasonic Bone Growth Stimulators
o Implanted Bone Growth Stimulators
· Platelet-Rich Plasma (PRP) Therapy
· Bone Morphogenetic Proteins (BMP)
In terms of types, bone growth stimulation devices accounted for more than half of the market shares in 2020. Bone growth stimulation systems are designed to accelerate bone tissue growth or fracture healing in the event of delay or failure. In addition, bone growth stimulation devices are classified into three types: electric, ultrasonic, and implanted. An electrical bone growth stimulator is used as an adjunctive treatment to spinal fusion surgery to improve the chances of successful bone fusion. In addition, human bone has living tissue with the ability to heal itself after a break or injury, much like skin. Likewise, using an electrical stimulator can help improve the healing procedure of the bones in the body.
Market by Application
Based on the application, the spinal fusion surgery segment grew the fastest in the bone growth stimulator industry. A spinal fusion is a surgical procedure that permanently joins two or else more bones in the spinal canal to improve stability and integrity, correct a deformity, or reduce pain. Electrical bone growth stimulators are a type of treatment that aid in the body's bone healing process and are therefore this is used in spinal fusion surgeries. The increasing aging population, the increasing proportion of spinal surgeries, and the proven efficacy and safety of fusion therapy are contributing to the expansion of this segment. In addition, the increasing cases of age-related bone and spine problems and fractures are driving the market.
Market by End-Use
In terms of the end-user, hospitals & clinics held the largest market share in 2020. The increasing number of patients admitted to hospitals with spinal injuries, traumatic injuries, car accidents, and broken bones or fractures is driving the hospital segment and clinics in the bone growth stimulator marketplace. Moreover, it is expected that the presence of advanced and trained medical professionals as well as the availability of a wide range of advanced devices and equipment, such as electric and ultrasonic bone growth stimulators, depending on the needs of the patient, will drive the growth in the hospital segment and clinics.
Bone Growth Stimulators Market Regional Overview
Middle East & Africa
North America dominates the worldwidemarket for bone growth stimulator with a higher revenue share owing to growing healthcare expenditures, rising prevalence, and incidences of related bone disorders. Moreover, the National Spinal Cord Injury Statistical Center estimates that 296,000 people in the United States have spinal cord injuries (SCI), with a range of 252,000 to 373,000. However, with the rising prevalence of spinal cord injuries, the demand for bone growth stimulators is expected to rise in the coming years. Furthermore, the increasing geriatric population, rising patient inclination for minimally-invasive orthopedic treatments are driving the market growth in North America.
Leading players profiled in worldwidebone growth stimulatorsindustryreport are Arthrex, Inc., Isto Biologics, Zimmer Biomet Holdings, Inc., Colfax Corporation (Djo Global, Inc), Terumo Corporation, Johnson & Johnson (Depuy Synthes), Essex Woodlands Healthcare Partners (Bioventus Llc), Medtronic Plc., Orthofix Medical Inc., and Stryker Corporation.
The estimated value of global bone growth stimulators market in 2020 was accounted to be US$ 1.124Mn.
The projected CAGR of bone growth stimulators during the analysis period of 2021 to 2028 is 5.3%.
The prominent players of the global bone growth stimulatorsmarketinvolve Arthrex, Inc., Zimmer Biomet Holdings, Inc., Colfax Corporation (Djo Global, Inc), Terumo Corporation, Johnson & Johnson (Depuy Synthes), Essex Woodlands Healthcare Partners (Bioventus Llc), Medtronic Plc., Isto Biologics, Orthofix Medical Inc., and Stryker Corporation.
North America held the dominating share for bone growth stimulators during the analysis period of 2021 to 2028
Asia-Pacific region exhibited fastest growing CAGR for bone growth stimulators during the analysis period of 2021 to 2028
Increase in the geriatric population, a growing incident rate of bone and joint disorder, and rising demands for non-invasive and minimally invasive surgical treatment are the major factors driving the global bone growth stimulators market.
Based on application, spinal fusion surgeries segment held the maximum share for bone growth stimulators market in 2020.