Bone Growth Stimulator Market

Bone Growth Stimulator Market Outlook (2022 to 2032)

The global bone growth stimulator market was valued at US$ 1.89 Billion in 2021. By 2022, the market is expected to touch a valuation of US$ 1.99 Billion, exhibiting a Y-o-Y increase of 5.3%. During the forecast period of 2022 to 2032, the bone growth stimulator market is anticipated to display a CAGR of 5.07% while securing a value worth US$ 3.1 Billion. The expansion of the market can be attributed to the increasing incidence of arthritis across the globe.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 1.89 Billion
Expected Market Value (2022)	US$ 1.99 Billion
Projected Forecast Value (2032)	US$ 3.1 Billion
Global Growth Rate (2022-2032)	5.07%
Major Bone Growth Stimulator Provider	Ossatec Benelux B.V.; Elizur Corporation; Johnson & Johnson; Arthrex Inc.; DJO Global Inc.; Stryker Corporation; Bioventus Inc.; Zimmer Biomet Holdings Inc.; Medtronic plc.; Orthofix International N.V.

Bone growth stimulator devices are medical equipment that boosts the fracture healing process in cases of delay or failure. They pump the regular speed of healing by giving electric shocks to patients. Some bone growth stimulators available in the market comprise bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma.

There are three types of bone growth stimulation equipment, which include pulsed electromagnetic field devices, combines magnetic field devices, and capacitive coupling devices.

2017 to 2021 Revenue Analysis of Bone Growth Stimulator Market Vs Future Outlook 2022 to 2032

During the forecast period of 2017 to 2021, the global bone growth stimulator market is anticipated to display a CAGR of 4.8%. The growth of the market can be attributed to the rising geriatric population, and increasing cases of fractures and accidents. As per WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over. Other factors supporting the market growth include the growing demand for minimally invasive & non-invasive surgical treatments.

In addition, growing approvals by regulatory authorities are anticipated to have boosted the market growth during the aforementioned time. For instance, in February 2020, US FDA approved STIMonTrack. The STIMonTrack technology is designed to work with Orthofix bone growth therapy devices and assist patients to adhere to their prescriptions and boost clinical outcomes. Such factors are anticipated to have made significant contributions to developing the market during the forecast period.

From 2022 to 2032, the global bone growth stimulator market is projected to display a CAGR of 5.07%. The development of the market can be attributed to the changing lifestyle of people. Increasing obesity, smoking, and diabetes, among others, are expected to support the industry’s growth during the forecast period. In addition, increasing agreements among players is anticipated to benefit the market during the forecast period.

For instance, in 2021, Orthofix inked an agreement to commercialize the innovative portfolio of IGEA’s bone, soft tissue stimulation, and cartilage products in the US and Canada. Attributed to the aforementioned factors, the industry is likely to flourish during the forecast period.

Major Factors Driving the Global Bone Growth Stimulator Market

Increasing Preference for Non-Invasive Bone Growth to Drive the Market

The growing preference and adoption of non-invasive bone growth stimulators are expected to play a major role in driving the market during the forecast period. Non-invasive stimulators use ultrasonic, magnetic, or electrical signals to stimulate osteogenesis in conjunction with a spinal fusion of fracture fixation.

The equipment is applied over the location of a fracture for a period of time during the treatment procedure. Players marketing such equipment are Orthofix, Zimmer Biomet, and DJO, among others.

In September 2017, Orthofix announced the approvals of the European CE Mark and the U.S FDA for its next-generation SpinalStim and CervicalStim bone growth stimulator. Such equipment help to enhance the body’s natural healing process, providing patients with a non-invasive and safe treatment for promoting postoperative spinal fusion.

Further, the growing occurrence of bone diseases across the globe is projected to drive the market during the forecast period. Increasing incidences of osteoporosis are projected to be the leading cause of fractures across the globe, thus, benefitting the industry in the forecast period.

Moreover, the rising diagnosis of such conditions along with rapid technological development for better treatment will further propel the market growth in the coming time. Besides, the rising number of oral and maxillofacial surgeries across the globe will strengthen the industry’s growth in the forecast period.

Increasing R&D Activities along with Rising Number of Product Launches to Widen the Market Size

Growing efforts from various manufacturers to develop novel and advanced products in the market are anticipated to benefit the market growth during the forecast period. Along with this, the rising number of product launches owing to increased approval from the regulatory authority bodies is likely to augment the market size.

For instance, in May 2022, Orthofix Medical Inc., a global medical device company with a spine and orthopedics focus, announced the U.S. Food and Drug Administration (FDA) pre-market approval for the AccelStim™ bone healing therapy Class III device.

The AccelStim device provides a safe and effective nonsurgical treatment for indicated fresh fractures and for fractures that have not healed (nonunions). Such factors are expected to benefit the market during the forecast period.

Factors Hampering the Bone Growth Stimulator Market

Limited Medical Reimbursement for Bone Stimulation Products

Medical reimbursement is among the major factors that is expected to negatively impact the market during the forecast period. Various healthcare insurance providers offer growth stimulation products under specific conditions. For example, in the U.S, bone growth stimulation devices are covered under insurance if target bones are separated by less than 1 centimeter or are non-infected.

Another factor hampering the market is the rising product launched that have surged the number of product recalls across the globe. In November 2018, Zimmer Biomet recalled 1,300 bone growth and spinal fusion stimulators. Such factors are expected to hamper the market growth during the forecast period.

Comparative View of Bone Growth Stimulator Market

Bone Growth Stimulator Market :

Attributes	Bone Growth Stimulator Market
CAGR (2022 to 2032)	5.07%
Market Value (2032)	US$ 3.1 Billion
Growth Factor	The growing occurrence of bone diseases across the globe and rising incidences of osteoporosis are projected to be the leading cause of fractures across the globe, benefitting the industry in the forecast period.
Opportunity	Growing efforts from various manufacturers to develop novel and advanced products in the market are anticipated to benefit the market growth during the forecast period. Along with this, the rising number of product launches owing to increased approval from the regulatory authority bodies is likely to augment the market size.

Patient Lateral Transfer Devices Market :

Attributes	Patient Lateral Transfer Devices Market
CAGR (2022 to 2032)	6.72%
Market Value (2032)	US$ 500 Million
Growth Factor	The application of patient transfer accessories is being emphasized by healthcare experts to prevent back injuries since such devices help smooth patient transfer by enhancing postures while moving partially or completely dependent patients.
Opportunity	Implementation of government laws to lessen the duration and cost of home healthcare services in the market is expected to offer remunerative opportunities to the market during the forecast period.

Bone Grafts and Substitutes Market :

Attributes	Bone Grafts and Substitutes Market
CAGR (2022 to 2032)	5.45%
Market Value (2032)	US$ 5.2 Billion
Growth Factor	Increasing demand for synthetic and xenografts and growing usage of bone graft substitutes in regenerative medicines are expected to benefit the global bone growth stimulator market during the forecast period.
Opportunity	Growing orthopedic surgeries and R&D initiatives are expected to offer significant growth opportunities to the market in the forecast period. Researchers across the globe are taking various initiatives to find new ways to use bone grafts in regenerative medicines, which can widen the market size in the forecast tenure.

Segmentation Analysis

What is the Contribution of Hospitals & Clinic Segment in Developing the Bone Growth Stimulator Market?

High Number of Patient Visits to Develop the Segment during the Forecast Period

As per the study, the hospitals and clinic segment is anticipated to dominate the market during the forecast period. The dominance can be attributed to the increasing number of patient visits and many orthopedic procedures being conducted in hospitals.

In 2018, in the American Hospital Association, the total number of hospitals in the U.S amounted to 6,146, with the number of staffed hospital beds counting at 924,107. Such factors are expected to benefit the market during the forecast period.

What is the Role of the Spinal Fusion Segment in Strengthening the Bone Growth Stimulator Market?

Large Number of Patient Pools Undergoing Spinal Fusion Surgeries to Favor the Segment Growth

The spinal fusion segment is expected to dominate the market during the forecast period. The development of the segment can be attributed to the increasing number of patient pools undergoing spinal fusion surgeries across the globe. Also, the high price of the procedure along with the rising volume of surgeries are the salient factors supporting the segmental growth during the forecast period.

Regional Analysis

How is the Developed Healthcare Sector Driving the Bone Growth Stimulator Market in North America?

According to the analysis, North America is expected to dominate the market during the forecast period. The domination of the region can be attributed to the highly developed healthcare infrastructure and reimbursement system. The growing incidence of spinal disorders, expanding geriatric population, and increased risk of exposure are other salient factors supporting the bone growth stimulator market in North America.

Additionally, acquisitions among players in the region is projected to be another factor that will boost the market during the forecast period. For instance, in 2020, Stryker acquired Wright Medical for US$ 5.4 Billion. The initiative strengthened Stryker’s position in the market, which can propel the regional market size during the assessment period.

How is the Presence of Established Players in the Region Strengthening the Bone Growth Stimulator Market?

As per the analysis, Europe is projected to be the second largest market for bone growth stimulator market during the forecast period. The region is likely to display a CAGR of 5% from 2022 to 2032. The development of the region can be attributed to the presence of various established players in the region. Players such as Bioventus and Orthofix are expected to make a major contribution in garnering significant dividends to the region.

Various initiatives taken by players in the region are expected to augment the market size in the coming time. For instance, in June 2021, Orthofix Medical announced the U.S launch and first patient implant of the FORZA ™ Ti PLIF Spacer System. Such factors are expected to benefit the regional market in the forecast period.

How is the Large Population Base Driving the Bone Growth Stimulator Market in APAC?

The APAC market is anticipated to witness the maximum CAGR during the forecast period. The region is likely to display a CAGR of 6.5% from 2022-2032. The development of the regional market can be attributed to the large population base and the growing incidences of bones and joint problems. Further, presence of developing countries such as India, China, and Japan, among others, is another crucial factor augmenting the bone growth stimulator market.

What are Some Startups in the Bone Growth Stimulator Market?

Bioventus (U.S), ISTO Biologics (U.S), Ossatec Benelux Ltd. (Netherlands), Bone Health (U.S), Agex Therapeutics (U.S), and Theramex (U.K), are some of the emerging names in the global bone growth stimulator market.

Recent Updates from the Startups :

• In October 2021, Bioventus completed the acquisition of Misonix, a provider of minimally invasive therapeutic ultrasonic technologies. The concluded transaction creates a high-growth medical device company that will conduct business as Bioventus Inc. The acquisition is directly aligned with Bioventus’ mission of delivering innovations for active healing to patients and providers. The deal also furthers the Company’s strategy of accelerated revenue growth through acquisitions that leverage the Company’s existing infrastructure.

Competition Analysis

Key players in the global bone growth stimulator industry include Elizur Corporation, Johnson & Johnson, Arthrex Inc., DJO Global Inc., Stryker Corporation, Zimmer Biomet Holdings Inc., Medtronic Plc., and Orthofix International N.V.

Recent Updates from the Industry Include :

• In December 2020, Zimmer Biomet Holdings, Inc., announced that the company has concluded the acquisition of A&E Medical Corporation for $150 million in cash at closing and $100 million in cash payable in 2021. The deal is expected to have an immaterial impact to net earnings in 2020. Zimmer Biomet has acquired A&E Medical and its complete portfolio of sternal closure devices which includes sternal sutures, cable systems, and rigid fixation – along with a range of single-use complimentary temporary pacing wire and surgical punch products.
• In March 2020, Orthofix Medical Inc., announced its acquisition of assets associated with FITBONE ® intramedullary lengthening system for limb lengthening of the femur and tibia bones. With the initiative, Orthofix becomes the only orthopedic company that offers a comprehensive portfolio of both internal and external fixation solutions for limb reconstruction.

Key Segments Covered

• By Product:

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

• By End User:

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

• By Application:

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

• By Region:

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA