Bone Growth Stimulators
Bone Growth Stimulators Market Forecasts to 2030 - Global Analysis By Product Type (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMPs), Platelet-Derived Growth Factor (PDGF) and Other product Types), Distribution Channel, Application, End User and By Geography
"According to Stratistics MRC, the Global Bone Growth Stimulators Market is accounted for $2.3 billion in 2024 and is expected to reach $4.6 billion by 2030 growing at a CAGR of 12.1% during the forecast period. Bone growth stimulators are medical devices designed to enhance the natural healing process of bones. They work by applying electrical or ultrasound stimulation to the site of a fracture or a bone fusion, promoting the formation of new bone tissue. This technology is particularly useful in cases where bones are slow to heal or when there are conditions that hinder normal bone growth. By accelerating the healing process, bone growth stimulators can reduce recovery time, minimize complications, and improve overall outcomes for patients with fractures, non-unions, or other bone-related injuries or conditions.
According to the World Population Prospects, 2019 Revision Data, 1 in 11 people in 2019 were over the age of 65. This figure is expected to rise to one in every six people by 2050.
Market Dynamics:
Driver:
Rising incidence of bone fractures and osteoporosis
The market has witnessed a surge in demand owing to a concerning rise in bone fractures and osteoporosis cases. This trend, particularly prevalent in aging populations, underscores the need for effective treatment options. As individuals age, bone density decreases, increasing susceptibility to fractures and osteoporosis-related complications. Consequently, there's a growing reliance on bone growth stimulators to facilitate bone healing and regeneration, driving market growth.
Restraint:
Potential side effects
In the market, challenges related to potential side effects loom prominently. Ensuring safety and efficacy while minimizing adverse reactions remains a critical concern. Common side effects include skin irritation at the stimulation site, discomfort, and rare cases of allergic reactions. Moreover, there's a need for thorough monitoring and regulatory oversight to address long-term impacts, such as tissue damage or bone nonunion. Balancing innovation with safety measures is paramount for sustaining trust and market viability in this field.
Opportunity:
Increasing number of spinal fusion surgeries
The market has witnessed a surge in demand, notably attributed to the increasing prevalence of spinal fusion surgeries. This trend is fueled by various factors such as aging populations, rising incidences of spinal disorders, and advancements in medical technology. Consequently, there has been a notable uptick in the adoption of bone growth stimulators, particularly in spinal fusion procedures, as healthcare professionals seek effective methods to enhance bone healing and fusion rates, ultimately improving patient outcomes.
Threat:
High cost of devices
The market is marked by the high cost of devices, posing a significant barrier to access for many patients. These devices, designed to aid in bone healing and regeneration, often come with substantial price tags, limiting their availability and affordability. Despite their potential benefits in accelerating recovery and improving outcomes for fractures and orthopedic conditions, the steep costs associated with these stimulators present challenges in ensuring equitable access to this crucial medical technology.
Covid-19 Impact:
The COVID-19 pandemic has significantly impacted the Bone Growth Stimulators market. With these healthcare resources redirect towards managing the crisis, elective procedures, including orthopedic surgeries, faced delays, affecting the demand for bone growth stimulators. Additionally, supply chain disruptions and economic uncertainties hindered market growth. However, as healthcare systems stabilize and surgeries resume, the market is expected to recover gradually, driven by the rising prevalence of orthopedic conditions and advancements in bone stimulation technology.
The spinal fusion segment is expected to be the largest during the forecast period
The spinal fusion is expected to be the largest during the forecast period. With an increasing number of spinal fusion procedures globally, the demand for these stimulators is escalating. Factors such as technological advancements, rising geriatric population, and the prevalence of spinal disorders are driving market expansion. Additionally, favorable reimbursement policies and growing awareness among patients are further contributing to market growth, making it a promising sector within the medical devices industry.
The hospitals and clinics segment is expected to have the highest CAGR during the forecast period
The hospitals and clinics segment is expected to have the highest CAGR during the forecast period. These facilities provide comprehensive care, from diagnosis to therapy, leveraging cutting-edge technologies such as electromagnetic and ultrasound bone growth stimulators. With a focus on patient-centered care, hospitals and clinics ensure effective rehabilitation and recovery, driving the growth of the bone growth stimulators market and improving outcomes for individuals with bone-related ailments.
Region with largest share:
North America is projected to hold the largest market share during the forecast period driven by increasing incidences of orthopedic conditions and a rising aging population. Technological advancements in medical devices, coupled with growing awareness among patients and healthcare professionals regarding the benefits of bone growth stimulators, are further fueling market expansion. Additionally, favorable reimbursement policies and investments in healthcare infrastructure contribute to market growth.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. Continuous advancements in bone growth stimulation technology have led to the development of more effective and efficient devices. Governments in various countries are taking initiatives to improve healthcare infrastructure and promote the adoption of advanced medical technologies. This includes initiatives to reduce the burden of musculoskeletal disorders and improve patient outcomes.
Key players in the market
Some of the key players in Bone Growth Stimulators market include Orthologic Corp., Medtronic plc, Harvest Technologies Corp., Amedica Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, Orthofix Medical Inc., Bone Solutions Inc., Bioventus LLC, Arthrex, Inc., Isto Technologies, Inc., Stryker Corporation.
Key Developments:
In December 2023, Orthofix Medical Inc. announced the new data that supported the safety and efficacy of PEMF Stimulation in Lumbar Spine Fusion Procedures indicated for patients with the risk of pseudarthrosis.
In February 2022, Orthofix Medical Inc. introduced a new synthetic bioactive bone graft solution called Opus B.A., which is used for cervical and lumbar spine fusion procedures.
Product Types Covered:
• Bone Growth Stimulation Devices
• Bone Morphogenetic Proteins (BMPs)
• Platelet-Derived Growth Factor (PDGF)
• Other product Types
Distribution Channels Covered:
• Direct Sales
• Distributors
• Online Retailers
• Pharmacies and Specialty Stores
Applications Covered:
• Fractures
• Spinal Fusion
• Dental and Maxillofacial
• Osteoarthritis and Osteoporosis
• Soft Tissue Repair
• Other Applications
End Users Covered:
• Hospitals and Clinics
• Ambulatory Surgical Centers (ASCs)
• Home Care Settings
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Bone Growth Stimulators Market, By Product Type
5.1 Introduction
5.2 Bone Growth Stimulation Devices
5.2.1 Capacitive Coupling Devices
5.2.2 Combined Magnetic Field Devices
5.2.3 Implantable Bone Growth Stimulators
5.2.4 Ultrasonic Bone Stimulators
5.3 Bone Morphogenetic Proteins (BMPs)
5.4 Platelet-Derived Growth Factor (PDGF)
5.5 Other product Types
6 Global Bone Growth Stimulators Market, By Distribution Channel
6.1 Introduction
6.2 Direct Sales
6.3 Distributors
6.4 Online Retailers
6.5 Pharmacies and Specialty Stores
7 Global Bone Growth Stimulators Market, By Application
7.1 Introduction
7.2 Fractures
7.3 Spinal Fusion
7.4 Dental and Maxillofacial
7.5 Osteoarthritis and Osteoporosis
7.6 Soft Tissue Repair
7.7 Other Applications
8 Global Bone Growth Stimulators Market, By End User
8.1 Introduction
8.2 Hospitals and Clinics
8.3 Ambulatory Surgical Centers (ASCs)
8.4 Home Care Settings
8.5 Other End Users
9 Global Bone Growth Stimulators Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Orthologic Corp.
11.2 Medtronic plc
11.3 Harvest Technologies Corp.
11.4 Amedica Corporation
11.5 Zimmer Biomet Holdings, Inc.
11.6 Smith & Nephew plc
11.7 Orthofix Medical Inc.
11.8 Bone Solutions Inc.
11.9 Bioventus LLC
11.10 Arthrex, Inc.
11.11 Isto Technologies, Inc.
11.12 Stryker Corporation
List of Tables
1 Global Bone Growth Stimulators Market Outlook, By Region (2022-2030) ($MN)
2 Global Bone Growth Stimulators Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Bone Growth Stimulators Market Outlook, By Bone Growth Stimulation Devices (2022-2030) ($MN)
4 Global Bone Growth Stimulators Market Outlook, By Capacitive Coupling Devices (2022-2030) ($MN)
5 Global Bone Growth Stimulators Market Outlook, By Combined Magnetic Field Devices (2022-2030) ($MN)
6 Global Bone Growth Stimulators Market Outlook, By Implantable Bone Growth Stimulators (2022-2030) ($MN)
7 Global Bone Growth Stimulators Market Outlook, By Ultrasonic Bone Stimulators (2022-2030) ($MN)
8 Global Bone Growth Stimulators Market Outlook, By Bone Morphogenetic Proteins (BMPs) (2022-2030) ($MN)
9 Global Bone Growth Stimulators Market Outlook, By Platelet-Derived Growth Factor (PDGF) (2022-2030) ($MN)
10 Global Bone Growth Stimulators Market Outlook, By Other product Types (2022-2030) ($MN)
11 Global Bone Growth Stimulators Market Outlook, By Distribution Channel (2022-2030) ($MN)
12 Global Bone Growth Stimulators Market Outlook, By Direct Sales (2022-2030) ($MN)
13 Global Bone Growth Stimulators Market Outlook, By Distributors (2022-2030) ($MN)
14 Global Bone Growth Stimulators Market Outlook, By Online Retailers (2022-2030) ($MN)
15 Global Bone Growth Stimulators Market Outlook, By Pharmacies and Specialty Stores (2022-2030) ($MN)
16 Global Bone Growth Stimulators Market Outlook, By Application (2022-2030) ($MN)
17 Global Bone Growth Stimulators Market Outlook, By Fractures (2022-2030) ($MN)
18 Global Bone Growth Stimulators Market Outlook, By Spinal Fusion (2022-2030) ($MN)
19 Global Bone Growth Stimulators Market Outlook, By Dental and Maxillofacial (2022-2030) ($MN)
20 Global Bone Growth Stimulators Market Outlook, By Osteoarthritis and Osteoporosis (2022-2030) ($MN)
21 Global Bone Growth Stimulators Market Outlook, By Soft Tissue Repair (2022-2030) ($MN)
22 Global Bone Growth Stimulators Market Outlook, By Other Applications (2022-2030) ($MN)
23 Global Bone Growth Stimulators Market Outlook, By End User (2022-2030) ($MN)
24 Global Bone Growth Stimulators Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
25 Global Bone Growth Stimulators Market Outlook, By Ambulatory Surgical Centers (ASCs) (2022-2030) ($MN)
26 Global Bone Growth Stimulators Market Outlook, By Home Care Settings (2022-2030) ($MN)
27 Global Bone Growth Stimulators Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
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Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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