Bone Growth Stimulator Market

Market Snapshot

According to Fact.MR’s most recent study, the bone growth stimulator market was nearly worth US$ 1.8 Bn in 2020 and is anticipated to expand 1.6x over the forecast period, anticipated to reach a valuation of US$ 3 Bn by 2031. In the short-run, bone growth stimulators revenue is likely to top US$ 1.9 Bn by 2022.

Key Points Addressed in Bone Growth Stimulator Industry Analysis

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• Recommendation on Key Winning Strategies

Bone Growth Stimulator Consumption Analysis 2016-2020 Vs Future Outlook 2021-2031

From 2016 to 2020 the worldwide bone growth stimulator market was projected to grow at a CAGR of 4%. The rising incidence of arthritis throughout the world is a significant factor driving the market's expansion.

Bone growth stimulators are supplemental medical devices worn by patients following a cervical or lumbar spine surgery. Bone growth stimulators are utilized in boosting the natural fusion of spinal bone after a fracture.

Various devices are developed for bone growth stimulation therapy, which is being highly demanded on the back of growing cases of accidental bone injuries across the globe. During the forecast period, the global market for bone growth stimulators is expected to generate US$ 3 Bn, with a 5.3% CAGR from 2021 to 2031.

How is Increasing R&D Funding Catalyzing Bone Growth Stimulator Demand?

Bone growth stimulators allow multi-level fusions in bones with great efficiency, and they play an important role in patients' spine fusion aftercare. Medical research is pointing to the benefits of using electrical bone growth stimulators in the spinal fusion procedure.

There has been a significant rise in research and development efforts connected with novel treatment techniques and product development as a result of a number of favorable government initiatives, as well as hefty expenditures made by many commercial organizations.

The North American Spine Foundation and the American Academy of Orthopedic Surgeons, for example, are assisting in the development of spinal implants and devices by generating funding for R&D activities and providing training programmes for physicians worldwide.

Likewise, Orthofix, a Texas-based company, has launched two novel bone growth stimulators, CervicalStim and SpinalStim, which have been authorized by both the European CE Mark and the US Food and Drug Administration.

How are Fast Healing Benefits of PRP and BMP Paving Way for Market Growth?

Platelet-rich Plasma (PRP) and Bone Morphogenetic Proteins (BMP) products aid in bone formation during the treatment of different fractures and spinal operations. As a consequence of faster healing and quicker recovery, it is expected that their usage would rise during these procedures.

As the number of accidents and trauma cases rises, so does the number of spinal and orthopedic procedures. This has increased demand for these devices. Because of the growing prevalence of arthritis, spinal injuries, and trauma and accident cases, the BMP and PRP sector is projected to develop at a rapid pace throughout the projection period.

Why are Personalized Electric Stimulation Devices Gaining Prominence?

In the market for bone growth stimulators, capacitive coupling devices are increasingly being utilized in conjunction with implanted biomedical systems for customized electrical stimulation.

This tendency has given rise to electromagnetic stimulation (E-Stim), which is accomplished through the use of devices that use direct current coupling, inductive coupling, and capacitive coupling. Consequently, capacitive coupling devices are anticipated to dominate the market in terms of revenue.

PEMF Devices Provide Osteoporosis Patients with Long-Term Relief?

Companies in the bone growth stimulators market are developing in pulsed electromagnetic field (PEMF) therapies to enhance clinical scores owing to problems associated with bone regeneration due to ageing, diabetes, or radiation treatment from cancer.

As a result, PEMF devices fall under the larger category of devices in the bone growth stimulators market, which generates the most revenue among other external devices. PEMF therapy is gaining popularity in the market for bone development stimulators as a safe and non-invasive option for patients to relieve pain and inflammation.

Country Wise Analysis

What makes U.S an Attractive Market for BGS?

The market for bone growth stimulators is dominated by North America. This is mostly due to the region's expanding elderly population and the growing burden of orthopedic illnesses. As of 2031, the U.S is expected to register a CAGR worth 5%.

According to the National Spinal Cord Injury Statistical Center's Spinal Cord Injury, 17,730 new cases are reported annually, with roughly 249,000 to 363,000 persons living with spinal cord injury in 2019.

According to the American Association of Neurological Surgeons, 8 million women in the United States have osteoporosis, and 25% of women are expected to have Vertebral Compression Fractures (VCFs). The rising prevalence of osteoporosis and VCFs has increased demand for bone growth stimulators used for improved healing, boosting market growth.

How Lucrative is the Market in the U.K?

The bone growth stimulators revenue in the U.K is poised to reach US$ 31 Mn in 2021, expected to expand at a CAGR of 5.1% to reach US$ 51 Mn in by 2022.

The market is being propelled due to an expanding geriatric population, the rising prevalence of arthritis and sports injuries, and the rising need for non-invasive spinal cord surgical procedures.

Due to the strong need for new therapies for chronic illnesses and the local presence of prominent medical device manufacturers like as Medtronic, Orthofix Holdings, Inc., Zimmer Biomet, Bioventus, Stryker, and Terumo BCT, Inc., the region was the second-largest market for bone growth stimulators.

Why are Manufacturers Targeting Asian Markets?

During the forecast period, the Asian market for bone growth stimulators is expected to develop the fastest. Increasing incidence of traffic accidents and the development of healthcare facilities in Asian nations such as China, India, and Indonesia are significant drivers driving growth in this area.

China will be the fastest expanding market in the region, with a CAGR of 6.1 % during the projected period. This market mainly comprises external bone growth stimulators because implanted devices are not yet licensed for use in China, and growth will be fueled primarily by an improved healthcare landscape, a growing middle-class population, and an ageing population.

Category Wise Insights

Why are Hospitals and Clinics Primary End-Users of Bone Growth Stimulators?

With the increased admission of patients suffering from traumatic injuries, traffic accidents, spinal injuries, and fractures, hospitals and clinics held the highest market share. A revenue share of 43% is projected for this segment.

Furthermore, growing emphasis on improving healthcare infrastructure in emerging nations in the Asia Pacific and African regions is projected to fuel the segment's expansion.

Why are Bone Growth Stimulation Devices Ruling the Market?

Bone growth stimulation devices were the largest revenue contributor in 2018 and are expected to rise considerably over the projection period. Over half of the global revenue share will be held by bone growth stimulation devices.

Increased demand for bone growth stimulation devices due to increase in the geriatric population and an increase in the incidence of spinal deformities are the key factors driving the bone growth stimulators market growth.

Competitive Landscape

The bone growth stimulators market is highly concentrated, with a large number of worldwide competitors. With the increasing prevalence of orthopedic disorders and technology developments, a few small to mid-sized firms are also breaking into the industry.

• In December 2020, Arthrex Inc. launched of the SwiveLock® ACL Repair Kit. This kit is designed as a less-invasive treatment method for certain types of anterior cruciate ligament. It is the first and only FDA-cleared kit for ACL tears.
• In November 2020, Stryker Corporation completed the acquisition of Wright Medical Group N.V, a global medical device company focused on extremities and biologics, reinforcing its position in trauma and extremities treatment domains.

Report Scope

Key Segments Covered

• Product

  • Bone Growth Stimulation Devices
  • Platelet-Rich Plasma Bone Growth Stimulators
  • Bone Morphogenetic Protein Stimulators

• End User

  • BGS for Hospitals & Clinics
  • BGS for Home Care
  • BGS for Academic & Research Institutes and CROS
  • BGS for Other End Users

• Application

  • BGS for Delayed Union & Nonunion Bone Fractures
  • BGS for Spinal Fusion Surgeries
  • BGS for Oral and Maxillofacial Surgeries
  • BGS for Other Applications

Bone Growth Stimulator Market- Scope of Report

A recent study by Fact.MR on the bone growth stimulator market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering Bone Growth Stimulator.

The study also provides the dynamics responsible for influencing the future status of the bone growth stimulator market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the bone growth stimulator market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of Bone Growth Stimulator across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of Bone Growth Stimulator during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

• Which are the most lucrative bone growth stimulator markets?
• Which factors will impact the growth of bone growth stimulators?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the Bone Growth Stimulator industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for bone growth stimulators are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global bone growth stimulator market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the bone growth stimulator market during the forecast period.

Country-specific valuation on demand for bone growth stimulators has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of bone growth stimulators, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering Bone Growth Stimulator has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the Bone Growth Stimulator domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the bone growth stimulator industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.