According to Acumen Research & Consulting, the market size for global bone growth stimulators is projected to grow at a CAGR of above 5% over the projected years and surpass the market value of around USD 1,680 million by 2028.
The most serious problem caused by bone disease, particularly osteopenia, is a fracture, which may have been the first noticeable sign of the disease in patients. According to research, about 1.5 million people undergo a fracture each year as a result of bone disease. The risk of fracture increases with age and women are more susceptible. In the United States, nearly 4 in 10 women age 50 and older will suffer a fracture of the spine, hip, or wrist at some point in their lives. The longer people live, the greater the overall risk of fractures and disease for all ethnic groups. However, it is expected that the incidence of osteoporosis and low bone mineral density will increase, mainly due to the aging of the population. By 2020, one in two Americans over the age of 50 will be or will be at increased risk of developing hip osteoporosis, even more at risk of osteopenia anywhere in the bones.
Bone healing is an entirely natural process that involves inflammation, bone production, and bone remodeling. Human bones are continuously being replaced with new bone, and when a bone is injured, the body has an incredible potential to cure the fracture to the bone on its own. The majority of people who suffer a broken bone will heal with appropriate treatment, which may include realignment, casts, and surgery. However, bones are made of living tissue, and a fatigue crack results in two broken ends, one with a positive charge and the other with a negative charge. The stimulator is a simple device that can be implanted either beneath or above the skin. The device creates an electro-magnetic field that attracts the two oppositely charged ends of the bones towards each other, aiding in the growth and fusion of new bones and thus healing.
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Global Bone Growth Stimulators Industry Growth Factors
Age-related fractures are expected to rise from 2.1 million in 2005 to about 3 million by 2025, owing solely to an increase in the elderly population. However, due to the growing number of bone fracture cases and the efficiency of outer bone growth stimulators in healing fractures, demand for these products is continuing to increase. Furthermore, the rising global incidence of arthritis is a major factor promoting the market's growth. Additionally, rising technological developments and innovation in the healthcare sector, increased R&D activities for new devices, as well as consumers' preference for using such devices, will create new opportunities for the market for bone growth stimulators over the forecasted period.
Ultrasonic bone growth stimulators are becoming more and more popular over the forecasting years
An ultrasonic bone growth stimulator is a non-invasive instrument that emits low-intensity, pulsed ultrasound. To stimulate fracture healing, an ultrasonic impulse is applied to the skin surface at the fracture site using an ultrasonically conductive coupling gel. These devices use low-intensity pulsed ultrasound to speed up bone repair. Moreover, this device has a main operating unit with an external power supply that is connected to a treatment head module that is attached to a fixture and centered over the fracture site. This device was primarily designed to promote faster fracture healing. However, the improvement of the new and advanced technological products in the medical field will boost the growth of the market. For example, Bioventus introduced its EXOGEN ultrasonic bone growth stimulators for the treatment of non-unions, delayed healing, and joint fusions.
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa are the regional splits of the global bone growth stimulators market. In the forecast years, the Asia-Pacific region is expected to grow with a significant market share. Increasing cases of bone diseases and advancements in healthcare are driving the growth of the market in the region. The increasing number of traffic accidents and the advancement of healthcare facilities and services in Asian countries like India, China, and Southeast Asian countries are the main growth drivers in this sector. Additionally, the growing bone growth stimulator populations along with the presence of a large population and income base are contributing to the expansion of the market.
The global bone growth stimulators market has been segmented by Acumen Research and Consultancy based on type, application, and end-use. Based on the type, the market is divided into bone growth stimulation devices, (electrical bone growth stimulators, implanted bone growth stimulators, and ultrasonic bone growth stimulators), platelet-rich plasma therapy, and bone morphogenetic proteins. By application, the industry is split into spinal fusion surgeries, delayed nonunion & union bone fractures, oral and maxillofacial surgeries, and others. On the basis of end-use, the segment is classified into hospitals and clinics, ambulatory surgery centers, and others.
Some prominent competitors covered in global bone growth stimulators market is Arthrex, Inc., Zimmer Biomet Holdings, Inc., Terumo Corporation, Colfax Corporation (Djo Global, Inc), Johnson & Johnson (Depuy Synthes), Essex Woodlands Healthcare Partners (Bioventus Llc), Medtronic Plc., Isto Biologics, Stryker Corporation, and Orthofix Medical Inc.
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Mr. Frank Wilson
Acumen Research and Consulting