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 fracture. Advanced bone growth stimulators can also facilitate multi-level fusions, the efficiency of which plays a pivotal role in spine fusion aftercare of patients.
A latest report by Fact.MR projects the global bone growth stimulators market to account for revenues worth US$ 1,477.2 Mn in 2017. The market is estimated to exhibit a steady expansion during the forecast period. Various devices are developed for bone growth stimulation therapy, which are being highly demanded on the back of growing cases of accidental bone injuries across the globe.
Market Taxonomy
|
Product |
End-User |
Application |
|
Bone Growth Stimulation Devices |
Hospitals & Clinics |
Delayed Union & Nonunion Bone Fractures |
|
Platelet-Rich Plasma |
Home Care |
Spinal Fusion Surgeries |
|
Bone Morphogenetic Proteins |
Academic & Research Institutes and CROS |
Oral and Maxillofacial Surgeries |
|
Other |
Other Applications |
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Rise in R&D Funding by Private Organisations to Propel Growth of the Global Bone Growth Stimulator Market
Bone growth stimulators facilitate multi-level fusions in bones with high efficiency, playing a pivotal role in spine fusion aftercare of patients. Medical studies are revealing positive outcomes of utilizing electrical bone growth stimulators for spinal fusion process. With a number of favorable government initiatives, coupled with heavy investments made by several private organisations, there has been a robust increase in research & development activities associated with new treatment methods and product development. For example – the North American Spine Foundation, and American Academy of Orthopedic Surgeons are contributing to the development of spinal implants & devices by raising funds for R&D activities, and conducting training programs for physicians worldwide.
Leading players in the market have introduced novel bone growth stimulators in order to cater demand from soaring adoption of affordable minimally-invasive surgeries (MIS). Orthofix, a Texas Company, has introduced new bone growth stimulators, the CervicalStim and the SpinalStim, which have been approved by the European CE Mark as well as the Food and Drug Administration of the U.S. While the out-of-the-office treatment option (non-invasive) has an obvious appeal to it, necessary patient compliance remains a challenge for physicians. However, an application called Stim onTrack has been developed by Orthofix, which offers physicians with real-time data, which enables effective detailing of the patient’s treatment protocol.
North America to Remain Dominant in the Global Bone Growth Stimulator Market
North America will continue to be dominant in the global bone growth stimulator market. Sales of bone growth stimulators are expected to account for the largest revenues in North America, expanding at the highest CAGR through 2022. Europe will remain the second most lucrative market for bone growth stimulators. The market in Middle East & Africa (MEA) will continue to register a sluggish expansion through 2022.
Bone growth stimulation devices will remain sought-after among products in the global market. Revenues from sales of bone growth stimulation devices will account for over half share of the market during the forecast period. In addition, sales of platelet-rich plasma bone growth stimulator, and bone morphogenetic proteins are expected to exhibit the fastest expansion registering similar CAGRs through 2022.
Hospitals & Clinics will Remain the largest End-Users of Bone Growth Stimulators
Based on end-users, sales of bone growth stimulators in academic and research institutes are expected to register the highest CAGR through 2022. Hospitals & Clinics will continue to be the largest end-users of bone growth stimulators, accounting for the highest share of the market over the forecast period. Home care is expected to remain the second most lucrative end-use segment in the global bone growth stimulators market.
Bone growth stimulators are expected to find the largest application in the cases of delayed union & non-union bone fractures, with sales poised to reach US$ 763.4 Mn by 2022-end. Sales of bone growth stimulators in oral & maxillofacial surgeries will account for the lowest revenues during the forecast period, based on application.
Competition Tracking
The report has also profiled key players in the global market for bone growth stimulators, which include Ossatec Benelux B.V., Elizur Corporation, Johnson & Johnson, Arthrex, Inc., DJO Global Inc., Stryker Corporation, Bioventus Inc., Zimmer Biomet Holdings, Inc., Medtronic plc., and Orthofix International N.V.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Increasing incidence of accidental fractures continues to drive the demand for supplemental medical devices such as bone growth stimulators. With advancements in technology, manufacturers are actively focusing towards development of electrical bone growth stimulators, considering their effectiveness in spinal fusion procedures. The Fact.MR report on global bone growth stimulator market provides analytical study on the market’s expansion till date, and also delivers insightful forecast for the period, 2017-2022.
Scope
The scope of Fact.MR’s report is to analyze the global bone growth stimulator market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global bone growth stimulator market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to bone growth stimulator.
Summary
The report commences with a brief information of the global bone growth stimulator market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global bone growth stimulator market.
Overview
The next section offers an overview of the global bone growth stimulator market. This comprises an introduction to the market, along with a standard definition of the product – bone growth stimulator. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global bone growth stimulator market, the report provides updates about market opportunities, which can benefit leading manufacturers of bone growth stimulator. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for bone growth stimulator manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, safety regulations, pricing analysis, list of distributors, and cost structure are provided in this section.
The Fact.MR report provides segment-wise analysis and forecast for covering the wide scope of global bone growth stimulator market. Product types, application, end-use, and region are key segments used for analyzing the growth of the global market for bone growth stimulator. In this segmentation analysis, a detailed country-wise forecast across all key market parameters is also included.
The report’s last section comprises of the global bone growth stimulator market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global bone growth stimulator market.
Research Methodology
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Bone Growth Stimulator Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022