USD 1.93 billion
Bone Growth Stimulators Market Size, Share, Growth Analysis, By Product(Bone Growth Stimulation Devices {External Bone Growth Stimulators (Pulsed electromagnetic field devices, Combined magnetic field devices, Capacitive coupling devices), Ultrasonic Bone Growth Stimulators), By Application(Spinal Fusion Surgeries, Delayed Union & Non-Union Bone Fractures, Oral & Maxillofacial Surgeries, Others), By End User(Hospitals & Ambulatory Surgical Centers, Home Care Settings, Academic & Research Institutes), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2314 |
Region:
Global |
Published Date: September, 2024
Pages:
219
|Tables:
63
|Figures:
77
Bone Growth Stimulators Market Insights
Global Bone Growth Stimulators Market size was valued at USD 2.10 Billion in 2022 and is poised to grow from USD 2.20 billion in 2023 to USD 3.23 billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).
Bone growth stimulation, a complementary therapy, has gained popularity, particularly for bone mending. For fractures that have not recovered on their own, bone stimulators are frequently employed. The number of bone fractures and sports-related injuries is gradually rising, which is driving up demand for bone growth stimulators all around the world. According to the National Spinal Cord Injury Statistical Centre (NSCISC), there are about 54 cases of spinal cord injury (SCI) per million people in the United States per year. Around the world, 250,000 to 500,000 persons get spinal cord injuries annually, according to a recent report from the National Centre for Biotechnology Information. Orthopaedic surgeries have benefited from bone growth stimulating technology and products. Numerous clinical research on bone morphogenetic protein has been started because of the market potential. These simulators are used extensively in many different fields, including spinal fusion, dentistry, maxillofacial, fracture repair, and many more. The market is expanding as a result of the increasing incidence of osteoarthritis and degenerative bone diseases. Additionally, due to the quick uptake and demand for platelet-rich plasma and bone morphogenetic proteins market growth is also anticipated to be aided by improved healing outcomes.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals & ASCs
Fastest Growth
Specialty Clinics
Growth Rate
4.9% CAGR
Global Bone Growth Stimulators Market ($ Bn)
Country Share for North America Region (%)
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Bone Growth Stimulators Market Segmental Analysis
The global bone growth stimulators market is segmented based on product type, application, end user and region. Based on product type, the market is segmented into bone growth stimulation devices {external bone growth stimulators (ultrasonic bone growth stimulators, and implanted bone growth stimulators)}, bone morphogenetic proteins, and platelet-rich plasma. Based on application, the market is segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral & maxillofacial surgeries, and others. Based on end user, the market is segmented into hospitals & ambulatory surgical centers, home care settings, and academic & research institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Application
In 2023, the market was mostly dominated by the spinal fusion surgeries category. The high share of the market is mainly attributed to the huge patient pools undergoing spinal fusion operations all over the world. Along with this, the expensive nature of the treatment and the rising number of procedures are the main reasons for the lucrative market shares observed during the analysis period. For instance, 1.62 million instrumented spinal surgeries are carried out each year in the United States, according to an article by Remedy Health Media.
It is anticipated that the delayed union and non-union bone fractures market will expand at a high rate during the projection period. High increase is mostly a result of the rising number of fracture and trauma cases in the world. Segmental expansion is being aided by the rising number of fracture cases brought on by sports injuries and traffic accidents.
Analysis by End User
Global market dominance in terms of end users was held by the hospitals & ambulatory suprgical centres sector in 2023. Because so many orthopaedic treatments are performed in hospital and there are so many patient visits, hospitals have a dominant market share. hospitals are found in such great numbers everywhere, in both developed and underdeveloped countries. The reason for the segment's domination is that government hospitals are unavoidable when it comes to subsidized care in several economies, particularly in the rising markets. According to the American Hospital Association, for instance, there are 6,146 hospitals in the United States overall, and there are 924,107 beds in those hospitals that are staffed.
The segment exhibiting the highest CAGR is projected to be home care settings. This growth trajectory is driven by several factors, including advancements in technology enabling portable and user-friendly bone growth stimulators. Moreover, the shift towards patient-centric care models, where individuals prefer treatments in the comfort of their homes, is significantly contributing to the expansion of this segment. As a result, home care settings are anticipated to experience rapid growth throughout the forecast period, reflecting broader trends in healthcare delivery towards decentralized and personalized treatment options.
Global Bone Growth Stimulators Market Size By End-User (%)
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Bone Growth Stimulators Market Regional Insights
In 2022, North America had a predominant share of USD 0.72 billion. For bone growth stimulators, North America is the largest market. The market is expanding in North America due to the increased incidence of orthopedic injuries and disorders, the aging population, and the rising demand for less invasive procedures. The main elements promoting regional domination are the rising costs of healthcare, the prevalence of related bone illnesses, and the occurrences of these conditions that call for the administration of bone growth stimulators. The high shares of this region will also be strongly impacted by the robust procedure volumes related to orthopedic disorders.
Over the projection period, the industry in Asia Pacific is expected to grow profitably. The growing incidence of bone ailments in the area is the cause of the region's profitable development. Bone stimulator companies are anticipated to benefit from lucrative growth prospects that will allow them to expand in the area and boost regional growth due to the large prospective patient pool and under-penetration of the industry.
Global Bone Growth Stimulators Market Size By Geography
- Largest
- Fastest
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Bone Growth Stimulators Market Dynamics
Bone Growth Stimulators Market Drivers
Increasing Prevalence of Orthopaedic Conditions to Bolster market growth
- The rising prevalence of orthopedic conditions, such as fractures, delayed unions, non-unions, and osteoporosis-related fractures, is a significant driver for the bone growth stimulators market. As the aging population grows and the incidence of orthopedic conditions rises, the demand for bone growth stimulators increases.
- The global population is aging, with an increasing number of elderly individuals susceptible to fractures and orthopaedic ailments. Older adults often experience delayed healing or non-unions, which require additional interventions to stimulate bone growth. The growing geriatric population is thus a major driver for the bone growth stimulators market.
Bone Growth Stimulators Market Restraints
Potential Side Effects and Risks to Hinder market growth
- While bone growth stimulators are generally considered safe, there can be potential side effects and risks associated with their use. This includes skin irritation, allergic reactions, and discomfort during treatment. Concerns about potential adverse effects may deter some patients and healthcare professionals from using bone growth stimulators.
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Bone Growth Stimulators Market Competitive Landscape
The competitive landscape for the bone growth stimulator industry contains information on each competitor. A business overview, financials, revenue generated, market potential, R&D investments, new market initiatives, global presence, production sites and facilities, production capacities, product launches, product breadth and depth, and application dominance are all included in the data.
Bone Growth Stimulators Market Top Player’s Company Profiles
- Zimmer Biomet Holdings, Inc. (US)
- Stryker Corporation (US)
- Medtronic plc (Ireland)
- Orthofix Medical Inc. (US)
- Bioventus LLC (US)
- Arthrex, Inc. (US)
- Smith & Nephew plc (UK)
- Elizur Corporation (US)
- Isto Biologics (US)
- Ossatec Benelux B.V. (Netherlands)
- Terumo Corporation (Japan)
- Bioventus LLC (US)
- Ember Therapeutics (US)
- Isto Biologics (US)
- Ossatec Benelux B.V. (Netherlands)
- BONESUPPORT AB (Sweden)
- Regen Lab SA (Switzerland)
- Cerapedics, Inc. (US)
- Orthocell Ltd. (Australia)
- Alphatec Spine, Inc. (US)
- Bone Therapeutics SA (Belgium)
- EndoStim, Inc. (US)
Bone Growth Stimulators Market Recent Developments
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In January 2024, Orthofix Medical Inc. received FDA clearance for its next-generation bone growth stimulator, the AccelStim. This device is designed to provide non-invasive treatment for nonunion fractures, leveraging low-intensity pulsed ultrasound (LIPUS) to promote bone growth and healing.
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In May 2023, Zimmer Biomet announced the availability of the Zimmer Biomet Amplitude, a new bone growth stimulator. For the treatment of nonunion and delayed union fractures, The Amplitude is an external, non-invasive bone growth stimulator.
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In April 2023, Osteotech, a business that creates and produces bone growth stimulators, was acquired by Medtronic. With the acquisition, Medtronic will be able to increase the number of bone growth stimulators in its lineup and break into the growing spinal fusion surgery market.
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In March 2023, Smith & Nephew announced the release of the Smith & Nephew OsteoStim, a novel bone growth stimulator. A non-invasive external bone growth stimulator called the OsteoStim is used to treat fractures with delayed union and nonunion.
Bone Growth Stimulators Key Market Trends
- In the present, the bone growth stimulators industry is being influenced by various consequential developments. A standout tendency is the increase in demand for treatments that are more amiable to patients and less invasive. In order to promote bone mending, bone growth stimulators are becoming a more popular choice for both healthcare providers and patients due to their ability to serve as a less intrusive alternative to conventional surgical means. This inclination is particularly noticeable when treating orthopedic ailments like spinal fusion, fractures, and others.
- The evolution of the market is greatly influenced by advances in technology. Patient compliance and convenience have been improved by the miniaturization and portability of bone growth stimulator devices. Additionally, remote monitoring and personalized treatment plans are possible through the integration of smart technology and mobile applications, leading to an even more effective bone growth stimulation therapy.
Bone Growth Stimulators Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global bone growth stimulators market is a rapidly growing segment within the medical device industry, driven by various factors such as increasing prevalence of orthopedic conditions, advancements in technology, and a growing geriatric population. Bone growth stimulators are non-invasive devices that utilize techniques like electrical stimulation, ultrasound, or magnetic fields to promote bone healing and stimulate bone growth. The global bone growth stimulators market is driven by the increasing incidence of orthopedic conditions, advancements in technology, and a growing geriatric population. With the rising demand for non-invasive treatment options and continuous technological innovations, the market is expected to witness further growth in the coming years. However, addressing challenges related to affordability, reimbursement, and awareness will be crucial for sustained market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.10 Billion |
| Market size value in 2031 | USD 3.23 billion |
| Growth Rate | 4.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bone Growth Stimulators Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bone Growth Stimulators Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bone Growth Stimulators Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bone Growth Stimulators Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bone Growth Stimulators Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bone Growth Stimulators Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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