Bone Growth Stimulator Market Research Report – Forecast till 2030

Bone Growth Stimulator Market Trends, Size and Insights by Product (bone growth stimulation devices, Platelet-Rich Plasma, and others), by Application (Spinal Fusion Surgeries, and others) by End User (Hospitals & clinics and others) - Forecast Till 2030

ID: MRFR/MED/5497-HCR | February 2023 | Region: Global | 130 Pages         

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Bone Growth Stimulator Market

The market held a market value of USD 1.14 billion and is projected to grow at a CAGR of 5.6% over the forecast period.

Segmentation
By Product Bone growth stimulation devices Platelet-Rich Plasma others
By Application Spinal Fusion Surgeries others
By End User Hospitals & clinics others
Key Players
Companies Profiled   Arthrex Inc.   Bioventus LLC   Depuy Synthes   DJO Finance LLC   Harvest Technologies    Isto Biologics   Medtronic PLC   Orthofix International N.V.   Stryker Corporation    Zimmer Biomet Holdings Inc
Drivers
Market Driving Forces   Increase in government funding for healthcare   Rising R&D expenditure   Growing number of medical device companies
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Bone Growth Stimulator Market Overview


Bone Growth Stimulator Market size is expected to reach USD 1.14 billion by 2030 at 5.6% CAGR during the forecast period 2022-2030. Bone growth stimulators are medical devices that speed up the healing process in conditions like spinal fixation and orthopedic fixation. Fresh fractures, fractures that mend slowly or not at all, and fractures with a high risk are all treated with bone growth stimulators. It can also be utilized as a supportive therapy following fracture surgery and in the corrective osteotomy. Bone Growth Stimulator accelerates the healing process by promoting the formation of new cells, allowing your fracture to heal much more quickly. Bone growth stimulators are an excellent therapy option for patients who are apprehensive about surgery and want to avoid it. It also helps people get back on their feet faster since it speeds up the healing process. Bone growth stimulators have changed the treatment of bone fractures and spinal fusions, and they're quickly becoming a crucial part of the recovery process. Some of the variables that contribute to the growth of the bone growth stimulator market include advantages over surgical methods, faster recovery time, and increasing patient preference. Because of the benefits given by these techniques over traditional treatment processes, the demand for minimally invasive procedures has increased significantly. Fewer operating complications, shorter hospitalization, less pain, smaller and more cosmetic incisions, lower risk of infection, reduced postoperative care, and faster recovery are all advantages of minimally invasive treatments.

Segmentation:


The Global Bone Growth Stimulator Market has been segmented into Product, Application and End user.Based on products, the market has been segmented into, bone growth stimulation devices, bone morphogenetic proteins, platelet-rich plasma, and others. The bone growth stimulation devices segment is further segmented into, external bone growth stimulators, implanted bone growth stimulators, and ultrasonic bone growth stimulators among which external bone growth stimulators include pulsed electromagnetic field devices, capacitive coupling devices, and combined magnetic field devices. The Bone Growth Stimulation Devices segment is expected to account for the largest share in the global market. This large share is majorly attributed to the wider acceptance of the devices, and better patient compliance as compared to other techniques.


On the basis of application, the market has been segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and other. The spinal fusion surgeries segment is expected to account for the largest share in the global bone growth stimulator market. On the basis of end users, the market has been segmented into hospitals & clinics, home care, academic and research institutes, and others. The hospitals & clinics segment is expected to account for the largest share in the global market. At the same time, the increasing establishments of the home care services in the developed and developing countries has led this segment to grow at the fastest rate during the forecast period.


Based on the regions, the market for bone growth stimulator is segmented in to, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Bone Growth Stimulator Market in the Americas region has further been segmented into North America and South America, where-in the North American market is further divided into the US and Canada. European Market has been segmented into Western Europe and Eastern Europe where-in Western Europe region is further divided into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into regions such as the Middle East and Africa.


Key players:


Arthrex, Inc., Bioventus LLC, Depuy Synthes (A Subsidiary of Johnson & Johnson), DJO Finance LLC, Harvest Technologies (A Terumo BCT Company), Isto Biologics, Medtronic PLC, Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc. are some of the key players in the global market.


Regional Market Summary:


Geographically, the Americas is anticipated to dominate the global bone growth stimulator market owing to the rising prevalence of the orthopaedic and spinal ailments such as bone fractures, and spinal damage among others. The development of the better therapeutic approaches and advanced treatment procedures have affected the growth of the American market in a positive way. Moreover, increasing rate of the spinal fusion procedures, growing patient population for the orthopaedic fixation procedures, high awareness among American population, high disposable income, are some of the many factors that drive the growth of the market in this region.


Europe is expected to hold the second largest market share in the global bone growth stimulator market. The market growth in this region is majorly attributed to the increasing government support for the device manufacturers. Geographical expansion of companies has led to the wider reach of the medical products and services which has brought a huge change in terms of the acceptance and implementation of the new products as well as procedures. Similarly, Asia-Pacific region has observed a rapid growth in the market owing to the development in the medical sector in developing countries like India and China. Moreover, increase in government funding for healthcare, rising R&D expenditure, and growing number of medical device companies in the region has led to its fastest growth during the forecast period. The Middle East and Africa region is anticipated to show minor growth opportunities in the market during the forecast period.


 Global Bone Growth Stimulator Market, by Product:




  • Bone Growth Stimulation Devices


    • External Bone Growth Stimulators

      • Pulsed Electromagnetic Field Devices

      • Capacitive Coupling Devices

      • Combined Magnetic Field Devices



    • Implanted Bone Growth Stimulators

    • Ultrasonic Bone Growth Stimulators



  • Bone Morphogenetic Proteins 

  • Platelet-Rich Plasma

  • Others


Global Bone Growth Stimulator Market, by Application:



  • Spinal Fusion Surgeries 

  • Delayed Union & Nonunion Bone Fractures 

  • Oral and Maxillofacial Surgeries 

  • Other


Global Bone Growth Stimulator Market, by End User:



  • Hospitals & Clinics 

  • Home Care 

  • Academic and Research Institutes

  • Others


Global Bone Growth Stimulator Market, by Region:




  • Americas


    • North America

      • US

      • Canada



    • South America




  • Europe


    • Western Europe

      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe



    • Eastern Europe




  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific




  •  Middle East & Africa

    • Middle East

    • Africa




Global bone growth stimulator market, by Key Players:



  • Arthrex, Inc.

  • Bioventus LLC

  • Depuy Synthes (A Subsidiary of Johnson & Johnson)

  • DJO Finance LLC

  • Harvest Technologies (A Terumo BCT Company)

  • Isto Biologics

  • Medtronic PLC

  • Orthofix International N.V.

  • Stryker Corporation

  • Zimmer Biomet Holdings, Inc.

  • Others


Recent Development


Orthofix Medical Inc. gained US FDA approval for its STIM on Track, mobile app version 2.1 in February 2020, allowing it to advance treatment using its bone growth stimulators such as CervicalStim, SpinalStim, and PhysioStim. Medtronic purchased Stimgenics in January 2020 to enhance its portfolio in Differential Target Multiplexed Spinal Cord Stimulation Therapy. Stryker paid USD 5.4 billion for Wright Medical. Stryker's position in the orthopedics device industry was bolstered by the acquisition.

Intended Audience:



  • Bone Growth Stimulation Device Manufacturers and Distributors

  • Orthopedic Medical Devices Manufacturers and Distributors

  • Pharmaceutical and Medical Device Companies

  • Contract Research Organizations

  • Academic and Research Institutes

  • Government Associations



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1.14 Billion
  CAGR   5.6%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Application and End user
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Arthrex, Inc., Bioventus LLC, Depuy Synthes (A Subsidiary of Johnson & Johnson), DJO Finance LLC, Harvest Technologies (A Terumo BCT Company), Isto Biologics, Medtronic PLC, Orthofix International N.V., Stryker Corporation, and Zimmer Biomet Holdings, Inc.
  Key Market Opportunities

  • Increase in government funding for healthcare
  • Rising R&D expenditure
  • Growing number of medical device companies
  •   Key Market Drivers   The hospital & clinic segment would drive the Bone Growth Stimulator Market ahead


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    Frequently Asked Questions (FAQ) :

    Bone Growth Stimulator Market valuation will be 1.14 billion by 2030

    Bone Growth Stimulator Market is projected to grow with 5.6% CAGR during the forecast period of 2022 to 2030.

    The hospital & clinic segment would drive the Bone Growth Stimulator Market ahead

    The spinal fusion surgeries segment would have the maximum Bone Growth Stimulator Market share.

    Infrastructural and investment advantages would give the Americas and edge in the global Bone Growth Stimulator Market.