Bone Growth Stimulators Market Outlook 2031
- The global bone growth stimulators market was valued at US$ 1.2 Bn in 2021
- The global market is projected to grow at a CAGR of 5.8% from 2022 to 2031
- The global bone growth stimulators market is anticipated to reach more than US$ 2 Bn by the end of 2031
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Overview of Bone Growth Stimulators Market
Bone growth stimulator provides painless electrical or ultrasound stimulation, which promotes bone growth and facilitates faster bone healing. Several orthopedic surgeons recommend this device in patients with history of smoking. They also recommend this device when bones and fracture patterns & open wounds do not heal properly because of impaired blood flow. The device is also recommended in spinal fusion surgery or cervical fusion surgery.
Minimally invasive and non-invasive surgical treatments are linked to a set of benefits such as small incisions and reduced blood loss. Demand for bone growth stimulators is increasing due to the inclination of patients toward such types of surgeries. Rise in number of accidents, fractures, and spinal injuries is a major factor propelling the global bone growth stimulators market. According to the World Health Organization (WHO), around 250,000 to 500,000 people across the globe suffer from spinal cord injuries annually, primarily due to road accidents, falls, and violence.
Rise in Prevalence of Orthopedic Diseases to Augment Global Market
According to the Arthritis Foundation, degenerative joint disease disorders, such as osteoarthritis, are likely to affect nearly 130 million individuals across the globe by 2050. Rise in prevalence and increase in burden of orthopedic diseases has led to a surge in the patient pool undergoing minimally invasive surgeries globally. This has resulted in high demand for bone growth stimulators. High prevalence of bone marrow transplants and bone cancers is also augmenting the demand for bone stimulators.
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The prevalence of osteoarthritis increases with age. The Arthritis Foundation states that osteoarthritis affects nearly 10% of the world’s population over the age of 60. Therefore, increase in prevalence of orthopedic disorders is anticipated to augment the global bone growth stimulators market during the forecast period. Healthcare practitioners are carrying out advanced research in bone biology in order to increase patient outcomes. They are also increasing the usage of bone densitometers, which are advanced equipment and enhanced form of x-ray technology used to measure bone loss.
Increase in Accidents, Fractures, and Spinal Injuries to Propel Global Bone Growth Stimulators Market
The number of road accidents is increasing at a rapid pace in developing as well as developed countries across the globe. Majority of road accidents have a high impact on the spine and bones of the person, limiting movement along with loss of productive days.
According to the National Spinal Cord Injury Statistical Center, the annual incidence of spinal injuries is nearly 54 cases per one million people in the U.S., i.e. nearly 17,700 new cases each year. According to Centers for Disease Control and Prevention statistics, around 31.0 million patient visits for unintentional or accidental injuries are reported every year. Bone stimulators for fracture are associated with less pain during the recovery period and low rates of persistent nonunions. However, there is a need for more research on their usage and effectiveness.
Fracture healing is a long and complicated process. In some cases, there is a high chance that the fracture will not heal at all, leading to bone loss. In such cases, bone growth stimulators prove helpful. Orthopedic surgeons use electric and electromagnetic fields in the bone healing process. This is propelling the demand for bone growth stimulators.
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Growth in Adoption of Portable, Battery-powered Bone Growth Stimulators to Boost Devices Segment
In terms of product, the global bone growth stimulators market has been classified into devices, bone morphogenetic protein (BMP), and platelet rich plasma (PRP). The devices segment has been split into external devices and implantable devices. External devices have been categorized into pulsed electromagnetic field devices, combined magnetic field devices, capacitive coupling devices, and ultrasonic devices.
The devices segment dominated the global bone growth stimulators market in 2021. This trend is projected to continue during the forecast period. Increase in usage of portable, battery-powered bone growth stimulators for the treatment of nonunion fracture; and rise in the adoption of external bone growth stimulators are anticipated to drive the devices segment during the forecast period. Apart from bone growth devices, manufacturers are increasing the production of bone glues and bone cement to boost the availability of supplemental products to improve bone healing in patients.
Rise in Usage of Bone Growth Stimulator as Supplemental Device to Bolster Spinal Fusion Surgeries Segment
Based on application, the global bone growth stimulators market has been segregated into spinal fusion surgeries, delayed union & nonunion bone fractures, oral & maxillofacial surgeries, and others. The spinal fusion surgeries segment accounted for majority of the market share in 2021. Increase in usage of bone growth stimulator as a supplemental device during lumbar spine surgery is expected to drive the segment.
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The delayed union & nonunion bone fractures segment is likely to grow at a high CAGR during the forecast period, owing to the rise in prevalence of osteoporosis, fractures, and other disorders.
Growth in Surgical Procedures for Orthopedic Disorders Augmenting Hospitals & Clinics Segment
In terms of end-user, the global bone growth stimulators market has been divided into hospitals & clinics, home care, academic & research institutes, and CROs.
The hospitals & clinics segment held a relatively large share of the global bone growth stimulators market in 2021. The segment's large share can be attributed to a rise in the number of surgical procedures performed for the treatment and management of orthopedic disorders.
Increase in Adoption of Bone Growth Stimulators in Emerging Economies to Propel Market
Adoption of bone growth stimulators is increasing in developing countries of Asia Pacific, owing to the rise in minimally invasive surgical procedures, increase in disposable income of the people, and strengthening of healthcare infrastructure in the region. International players are adopting various strategies for geographic expansion, thereby increasing the availability of technologically advanced devices for bone healing and growth.
The usage of pulsed electromagnetic field (PEMF) bone growth stimulators is increasing in Asia Pacific due to the rise in number of fractures and accident cases in countries such as India. Additionally, higher demand and usage of healthcare services is expected to offer significant opportunities to the market in these countries.
Regional Outlook of Global Bone Growth Stimulators Market
North America accounted for the largest share of around 40% of the global bone growth stimulators market in 2021. The market in the region is projected to grow at a CAGR of 5.8% from 2022 to 2031. Companies are increasing the availability of electrical bone growth stimulators that play an instrumental role post spinal fusion surgeries.
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Asia Pacific is anticipated to be the fastest-growing market for bone growth stimulators during the forecast period. The market in the region is expected to register a CAGR of 6.8% during the forecast period. Med-tech companies in this region are innovating bone stimulators that can be used for the treatment of people with pseudarthrosis (false joint) and for people with skeletal immaturity.
Analysis of Key Players in Bone Growth Stimulators Market
The global bone growth stimulators market is fragmented due to the presence of a large number of key players. Most of the companies are investing significantly in research & development activities. Diversification of product portfolio and mergers & acquisitions are key strategies adopted by the market players. Leading players operating in the global market include Zimmer Biomet, Terumo Corporation, Bioventus, Inc., Orthofix Medical, Inc., Ossatec Benelux BV, BTT Health GmbH, Stimulate Health, and Medtronic, plc.
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