Bone Growth Stimulators Market Size, Share, Trends, Growth 2030

Bone Growth Stimulators Industry Prospective:

The global bone growth stimulators market size was worth around USD 1.42 Billion in 2022 and is estimated to grow to about USD 1.96 Billion by 2030, with a compound annual growth rate (CAGR) of approximately 5.6 percent over the forecast period.

The report analyzes the bone growth stimulators market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the bone growth stimulators market.

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Bone Growth Stimulators Market: Overview

Bone growth stimulation promotes bone healing in difficult-to-heal fractures or fusions by administering an ultrasonic or electrical current to the fracture site. This is done by an electrical osteogenesis stimulator, it’s a device that stimulates bone regeneration via electrical stimulation. Electrical stimulation can be administered from the outside (noninvasive) or the interior of the body (invasive). An external power supply is connected to electrodes or coil implanted on the skin or plaster or brace over a fusion or fracture site in a noninvasive electrical stimulator. A noninvasive device that generates low intensity, pulsed ultrasound is known as an ultrasonic osteogenesis stimulator. In order to encourage fracture healing, an ultrasonic signal is given to the skin surface at the fracture region through ultrasound conductive coupling gel.

Key Insights

• As per the analysis shared by our research analyst, the global bone growth stimulators market is expected to grow annually at a promising CAGR of around 5.6% during the forecast period 2022-2030.
• In terms of revenue, the global bone growth stimulators market size was valued at around USD 1.42 billion in 2022 and is estimated to grow to about USD 1.96 billion by 2030.
• Bone growth stimulators are increasingly used to ameliorate the bone’s healing process and enhance bone tissue growth and development in patients who have undergone bone fusion surgeries. It is a form of treatment that is used to treat failure or delayed union or non-union fractures, spinal fusion, or ankle fusion.
• Based on product, the bone growth stimulation devices segment held the dominating market share in 2022.
• Based on application, the spinal fusion surgeries segment held the largest market share in 2022.
• Based on region, the North American region held the dominating market share in 2022.

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COVID-19 Impact:

The COVID-19 pandemic is likely to have an interim negative impact on the global bone growth stimulators market. This is due to a sudden drop in elective surgeries, ban on organized sports, the momentary shutdown of O&P health centers, restricted access to non-essential care, and slowed in-patient flow & referrals. However, crucial European and Chinese markets are showing indications of revival. The market is expected to gradually rise in late in the second half of 2022, which could be attributed to handling pre-COVID elective surgeries, an increasing number of surgeries as a result of clearing backlogs & new cases, completely revived healthcare services, large-scale recreation & physical work, and the restarting of organized sports.

Bone Growth Stimulators Market: Growth Drivers

Increase patient preference towards minimally invasive and non-invasive surgical operations.

Because of the benefits offered by non-invasive and minimally invasive treatments over standard treatment techniques, there has been a huge growth in demand for them. Less operating problems, nominal hospitalization, smaller aesthetic incisions, less discomfort, minimal risk of infection, shortened postoperative care, and quicker recovery are all advantages of minimally invasive treatments. In minimally invasive treatments, advanced technology is used to detect and treat several disorders, including cancer. These treatments are intended to remove malignant tumors and lymph nodes from the body without leaving scars. These factors are contributing to the market growth.

Bone Growth Stimulators Market: Restraints

Limitations for medical reimbursement for bone stimulating procedures may hinder the market growth.

At a country level, medical reimbursement is one of the most important variables influencing the acceptance and demand of certain diagnostic or therapeutic goods among patients and healthcare professionals. In developed nations (such as the United States and Australia), the majority of healthcare insurance companies cover bone growth stimulation drugs provided certain requirements are met.

In the United States, for example, insurance provided for bone growth stimulation devices providing the target bones are apart by less than one centimeter and are not diseased. According to the Part B schedule, Medicare also covers bone growth stimulating devices and provides device rental on a prescription basis but for various purposes. Moreover, many private insurance companies, on the other hand, do not cover or reimburse bone growth stimulating operations, thereby hindering market growth to some extent.

Bone Growth Stimulators Market: Opportunities

Increasing demand for bone growth stimulators in emerging countries will provide better growth opportunities to the market.

Emerging economies like India, China, Mexico, and Brazil are likely to offer considerable growth potential for the bone growth stimulators market. Factors such as a large population of patients, soaring healthcare spending, increasing government support for the healthcare industry, bolstering export trade, and increasing awareness among surgeons, physicians, and patients regarding the latest treatment options for spinal fusion and bone therapies are estimated to bolster the requirement for bone growth stimulation devices. Furthermore, many patients from established countries are known to fly to these emerging nations for medical care because of the huge cost savings.

Bone Growth Stimulators Market: Challenges.

Side-effects of BMP-based orthopedic therapy pose a major challenge to expanding the market growth.

Even though BMPs are increasingly being employed in bone healing and spinal fusion, they are linked to several negative side effects. The most common adverse effects of BMPs following spinal fusion surgery include tissue edema, implant dislodgement, and male infertility. BMPs have been linked to antigenic responses and oncogene activation during bone repair. During the use of Medtronic's BMP product in spinal fusion procedures for bone repair, the company identified various clinical problems.

Bone Growth Stimulators Market: Segmentation

The global bone growth stimulators market is categorized into product, application, distribution channel, and region.

The distribution channel segment is split into home care, hospitals & clinics, and others.

Based on product, the market is segmented based on bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma. The bone growth stimulation devices segment held the largest market share in 2022 and is further expected to grow rapidly at a significant CAGR during the forecast period.

The major reason for the growth of this segment is an increase in the cases of spinal deformities among people, growth in the geriatric population in various countries across the globe, and persistent improvements and technological advancements in bone growth stimulation devices. However, on the other hand, the platelet-rich plasma segment is expected to cite a notable growth rate during the forecast period. The growth of this segment is due to an increase in demand for plasma therapy in numerous orthopedic therapeutic applications.

Based on application, the market is segmented based on spinal fusion surgeries, delayed union & non-union bone fractures, oral & maxillofacial surgeries, and others. The spinal fusion segment held the largest market share in 2022 and is expected to occupy a dominant status and simultaneously grow at a remarkable CAGR during the forecast period.

The major reason for the growth of this segment is the increase in the adoption of minimally invasive spinal surgeries, the rise in the cases of degenerative spinal conditions among people, growing incidences of obesity, and the surge in the popularity of spinal fusion surgery procedures in various countries around the world.

Recent Developments

• In April 2021, Orthofix signed an exclusive licensing deal with IGEA to sell the company's breakthrough soft tissue, cartilage, and bone stimulation solutions in the United States and Canada.
• In November 2020, Wright Medical was purchased by Stryker for USD 5.4 billion. Stryker's position in the orthopedics device industry was reinforced as a result of the purchase.
• In June 2020, DePuy Synthes and the AO Foundation extended their cooperation to promote patient care and outcomes via innovation and AO's independent worldwide education programs.

Bone Growth Stimulators Market Report Scope:

Bone Growth Stimulators Market: Regional Landscape

North America to remain the largest market for bone growth stimulators over the forecast period.

North America has the highest share of the global bone growth stimulators market. North America's significant market share is owing to a well-developed healthcare structure and medical reimbursement system in the United States and Canada.

Along with that, increased physician and patient knowledge of novel treatment techniques and technologies in the United States and Canada is also supporting regional market growth. Furthermore, the increasing incidences of spinal disorders, increasing geriatric population, and higher population health risks due to smoking, obesity, & diabetes are also supporting the market growth. Additionally, increasing patient preference for non-invasive orthopedic treatments is fueling the market growth for bone growth stimulators in North America.

Bone Growth Stimulators Market: Competitive Landscape

Key players in the global bone growth stimulators market include:

• Orthofix Medical Inc.
• Zimmer Biomet
• DJO Finance LLC
• Stryker
• Bioventus LLC
• Medtronic plc
• Arthrex Inc.
• DePuy Synthes
• Isto Biologics
• Ember Therapeutics Inc.
• Terumo Corporation
• Altis Biologics (Pty) Ltd.
• Ossatec Benelux Ltd.
• Regen Lab SA
• Elizur Corporation
• ITO Co. Ltd.
• BTT Health GmbH.

Global bone growth stimulators market is segmented as follows:

By Product

• Bone Growth Stimulation Devices
• Bone Morphogenetic Proteins
• Platelet-Rich Plasma

By Application

• Spinal Fusion Surgeries
• Delayed Union & Nonunion Bone Fractures
• Oral & Maxillofacial Surgeries
• Others

By Distribution Channel

• Hospitals & Clinics
• Home Care
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa