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Market Overview
The global Bone Growth Stimulator market was valued at USD 1.45 billion in 2022 and expected to grow at a CAGR of 6.8% during the forecast period. A bone growth stimulator is a medical device that is used to aid in the healing of bone fractures that are slow to heal or have not healed properly. These devices are designed to promote bone growth by delivering low-level electrical or ultrasound energy to the affected area, which stimulates the natural healing process of the bone.
Bone growth stimulators are often used in cases where traditional methods of bone healing, such as casting, bracing, or surgery, have been unsuccessful. They are commonly used to treat fractures of the long bones, such as the femur, tibia, and humerus, as well as spinal fractures.
There are two main types of bone growth stimulators: electrical and ultrasound. Electrical bone growth stimulators use low-level electrical currents to stimulate bone growth, while ultrasound bone growth stimulators use high-frequency sound waves to promote bone healing.
Bone growth stimulators can be used as a standalone treatment or in combination with other methods of bone healing. They are typically worn for several hours a day, and treatment duration can range from a few weeks to several months, depending on the severity of the fracture and the individual patient's healing response.
Increasing prevalence of bone-related disorders: The rising prevalence of bone-related disorders, such as osteoporosis and arthritis, is a key driver of the bone growth stimulator market. These disorders can lead to bone fractures and slow healing, which increases the demand for bone growth stimulators.
Growing geriatric population: As the global population ages, the incidence of bone fractures and other bone-related disorders is expected to rise. The geriatric population is more prone to fractures and has a slower healing rate, which is expected to drive the demand for bone growth stimulators.
Rising adoption of non-invasive treatments: The growing preference for non-invasive treatments, such as bone growth stimulators, is another factor driving the market. These devices offer a non-surgical and less invasive treatment option for bone fractures, which is preferred by many patients.
Technological advancements: Advances in technology, such as the development of portable and wearable bone growth stimulators, are also driving the market. These devices offer greater convenience and ease of use for patients, which is expected to increase their adoption.
High cost of bone growth stimulators: The high cost of bone growth stimulators is a key challenge faced by the market. These devices can be expensive, which may limit their adoption in some regions.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 1.45 Billion |
Market Forecast in 2031 | USD 3.58 Billion |
CAGR % 2023-2031 | 6.8% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2031 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | By Product Type, By Application, By End-user |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Orthofix Medical Inc. (US), Enovis (DJO Finance, LLC) (US), ZimVie (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health (Canada), VQ OrthoCare (US), and Kinex Medical Company, LLC (US). |
Impact of COVID
Increasing prevalence of bone-related disorders: The rising prevalence of bone-related disorders, such as osteoporosis and arthritis, is a key driver of the bone growth stimulator market. These disorders can lead to bone fractures and slow healing, which increases the demand for bone growth stimulators.
Growing geriatric population: As the global population ages, the incidence of bone fractures and other bone-related disorders is expected to rise. The geriatric population is more prone to fractures and has a slower healing rate, which is expected to drive the demand for bone growth stimulators.
Rising adoption of non-invasive treatments: The growing preference for non-invasive treatments, such as bone growth stimulators, is another factor driving the market. These devices offer a non-surgical and less invasive treatment option for bone fractures, which is preferred by many patients.
Technological advancements: Advances in technology, such as the development of portable and wearable bone growth stimulators, are also driving the market. These devices offer greater convenience and ease of use for patients, which is expected to increase their adoption.
High cost of bone growth stimulators: The high cost of bone growth stimulators is a key challenge faced by the market. These devices can be expensive, which may limit their adoption in some regions.
Overall, the bone growth stimulator market is expected to grow at a steady rate due to the increasing prevalence of bone-related disorders and the growing adoption of non-invasive treatments. Technological advancements and increasing investments in research and development are expected to drive innovation in the market, leading to the development of more advanced and effective bone growth stimulators.
Product Insights
Bone Growth Stimulation Devices: Bone growth stimulation devices are non-invasive devices that use different forms of energy, such as electrical, magnetic, or ultrasonic, to stimulate bone healing. This segment holds the largest share of the bone growth stimulator market due to the increasing prevalence of bone-related disorders and the growing adoption of non-invasive treatments.
External Devices: External bone growth stimulators are devices that are worn outside the body and use electrical, magnetic, or ultrasonic energy to stimulate bone healing. This segment holds a significant share of the market due to the convenience and ease of use offered by these devices.
Pulsed Electromagnetic Field Devices: Pulsed electromagnetic field devices are non-invasive bone growth stimulators that use a magnetic field to stimulate bone healing. This segment holds a significant share of the market due to the high efficacy and safety of these devices.
Combined Magnetic Field Devices: Combined magnetic field devices are non-invasive bone growth stimulators that use a combination of magnetic fields to stimulate bone healing. This segment holds a significant share of the market due to the high efficacy and safety of these devices.
Capacitive Coupling Devices: Capacitive coupling devices are non-invasive bone growth stimulators that use an electrical field to stimulate bone healing. This segment holds a significant share of the market due to the high efficacy and safety of these devices.
Ultrasound Devices: Ultrasound devices are non-invasive bone growth stimulators that use high-frequency sound waves to stimulate bone healing. This segment holds a significant share of the market due to the high efficacy and safety of these devices.
Implantable Devices: Implantable bone growth stimulators are devices that are surgically implanted into the body to stimulate bone healing. This segment holds a smaller share of the market due to the invasiveness and higher cost of these devices.
Bone Morphogenetic Protein: Bone morphogenetic protein is a biologic agent that stimulates bone growth and is used in bone grafting procedures. This segment holds a smaller share of the market due to the higher cost and specialized use of this product.
Platelet-rich Plasma (PRP): Platelet-rich plasma is a biologic agent that is derived from the patient's own blood and contains growth factors that stimulate bone healing. This segment holds a smaller share of the market due to the specialized use and limited availability of this product.
Overall, the bone growth stimulator market is dominated by non-invasive devices that use electrical, magnetic, or ultrasonic energy to stimulate bone healing. The market is expected to grow in the future due to the increasing prevalence of bone-related disorders and the growing adoption of non-invasive treatments.
Application Insights
Spinal Fusion Surgeries: Spinal fusion surgeries involve the joining of two or more vertebrae to treat conditions such as degenerative disc disease, spinal stenosis, and herniated discs. The use of bone growth stimulators in spinal fusion surgeries has increased due to the high success rate and reduced risk of complications. This segment holds the largest share of the bone growth stimulator market.
Delayed Union and Non-union Bone Fractures: Delayed union and non-union bone fractures are fractures that take longer than usual to heal or do not heal at all. Bone growth stimulators are used in these cases to stimulate bone growth and promote healing. This segment holds a significant share of the market due to the increasing incidence of bone fractures and the growing adoption of non-invasive treatments.
Oral and Maxillofacial Surgeries: Oral and maxillofacial surgeries involve the treatment of conditions related to the face, jaw, and mouth. Bone growth stimulators are used in these surgeries to stimulate bone growth and promote healing. This segment holds a smaller share of the market due to the specialized use of bone growth stimulators in these surgeries.
Regional Insights
North America: North America holds the largest share of the bone growth stimulator market due to the increasing incidence of bone-related disorders, growing geriatric population, and favorable reimbursement policies.
Europe: Europe holds a significant share of the bone growth stimulator market due to the rising prevalence of bone-related disorders and increasing government initiatives for the development of the healthcare sector.
Asia-Pacific: The Asia-Pacific region is expected to grow at the highest rate in the bone growth stimulator market due to the increasing incidence of bone fractures, growing geriatric population, and rising healthcare expenditure in emerging countries such as China and India.
Middle East and Africa: The Middle East and Africa hold a smaller share of the bone growth stimulator market due to the limited healthcare infrastructure and low awareness about the benefits of bone growth stimulators.
Overall, North America holds the largest share of the bone growth stimulator market, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to grow at the highest rate due to the increasing incidence of bone fractures and growing healthcare expenditure in emerging countries. The Middle East and Africa hold a smaller share of the market due to the limited healthcare infrastructure and low awareness about the benefits of bone growth stimulators.
Competitive Analysis
Some of the major companies operating within the market are Orthofix Medical Inc. (US), Enovis (DJO Finance, LLC) (US), ZimVie (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health (Canada), VQ OrthoCare (US), and Kinex Medical Company, LLC (US). These players are focusing on product innovation, expansion, and partnerships to strengthen their market position and meet the growing demand for Bone Growth Stimulator globally.
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Production Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
Company Share Analysis from 2018-2022
Company Analysis by Revenue and Sales
Company Production Capacity, Gross Margin
Company Share Analysis by Application/End Use
Company Share Analysis by Product/Specification
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