Usage of Electrical Bone Growth Stimulators in Spinal Fusion Procedure is poised to bolster the Demand for Bone Growth Stimulation Devices Through 2031

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