Bone Growth Stimulators Market by Product Type (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), and Platelet-Rich Plasma (PRP)), by Application (Spinal Fusion Surgeries, Delayed Union and Non-union Bone Fractures, and Oral & Maxillofacial Surgeries), and by End User (Hospitals, Clinics, Home Care, and Academic and Research Institutes)- Global Opportunity Analysis and Industry Forecast 2024-2030
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Market Definition:
The Global Bone Growth Stimulators Market size is estimated to be USD 912.8 million in 2019 and is predicted to reach USD 1679.5 million by 2030 with a CAGR of 5.7% from 2020-2030. Bone growth stimulation is a process employed to promote bone healing in difficult to heal fractures or fusions by applying electrical or ultrasonic current to the fracture/fusion site. A bone growth stimulator is a supplemental device that can be strapped to an arm, leg, neck or other body part—over a cast or brace, and used daily at home.
Bone growth stimulators apply direct current to the non-healing fracture or bone fusion site. Broken bone in a human body, helps promote the body’s bone healing process by creating its own electrical field. Advanced research studies in this field has enabled researchers to develop and bring in new and improved sophisticated products in the market. Various models of electrical stimulators have been proposed and marketed as aides for spinal fusions and long bone fractures. Continuous research and development and large number of clinical trials offer significant growth opportunities in the bone growth stimulators market.
Market Dynamics and Trends:
Increasing elderly population and successive rise in fracture incidence, osteoporosis, and spinal disease are the primary factors driving the growth of the global bone growth stimulators market. According to the International Osteoporosis Foundation, globally, 1 in 3 women and 1 in 5 men aged over 50 are expected to experience osteoporotic fractures. Osteoporosis causes more than 8.9 million fractures annually and it results in an osteoporotic fracture in every 3 seconds. Additionally, growing patient awareness of the availability and benefits of stimulation treatments, and continued research into the efficacy of bone growth stimulators also contribute to the market growth. However, limited medical reimbursement for bone stimulation products and ethical issues are likely to affect the growth of bone growth stimulators market.
With increasing research and development and growing technological advancements the competition in the bone growth stimulators market is growing rapidly. Many of the established as well as emerging players are focusing on product development and launches to develop in this market. In June 2017, DJO Global launched a clinical trial for a new indication of the company’s bone growth stimulator. Additionally, the players also emphasis on mergers and acquisitions and collaborations in order to strengthen their position in the bone growth stimulators market.
Market Segmentations and Scope of the Study:
The bone growth stimulators market share is analysed on the basis of product, application, end user and geography. The product segment covers the market for bone growth stimulation devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). By application the market is divided into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and other applications. On the basis of end user the market is divided into hospitals, orthopaedic clinics, ambulatory surgical centers, and home care. The geographical segmentation covers North America, Europe, Asia Pacific, and Rest of the World.
Competitive Landscape:
Comprehensive competitive analysis and profiles of major market players such as Orthofix International N.V, Zimmer Biomet Holdings Inc., Bioventus LLC., Synergy Orthopedics, ITO Physiotherapy & Rehabilitation, DePuy Synthes Spine, Inc., Arthrex, Inc., DJO Global, Inc Ossatec Benelux Ltd., and Orchid Medical is also provided in this report.
KEY PLAYERS
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- Orthofix International N.V
- Zimmer Biomet Holdings Inc.
- Bioventus LLC.
- Synergy Orthopedics
- ITO Physiotherapy & Rehabilitation
- DePuy Synthes Spine, Inc.
- Arthrex, Inc.
- DJO Global
- Inc Ossatec Benelux Ltd.
- Orchid Medical
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