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Global Bone Growth Stimulator Market – Industry Trends and Forecast to 2030

  • Healthcare
  • Upcoming Report
  • Oct 2023
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Bone Growth Stimulator Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 5.8999999999999995% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 1270.80 Million
Diagram Market Size (Forecast Year) USD 2010.23 Million
Diagram CAGR 5.8999999999999995%

Global Bone Growth Stimulator Market, By Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins, Platelet-Rich Plasma), Application (Spinal Fusion Surgeries, Delayed Union and Non-union Bone Fractures, Oral and Maxillofacial Surgeries), End-User (Hospitals and Clinics, Home Care, Academic and Research Institutes and CROs) – Industry Trends and Forecast to 2030.

Bone Growth Stimulator Market Analysis and Size

Bone growth stimulators are increasingly being used to treat delayed union and non-union after fracture, ankle fusion, and spinal fusion. There is substantial basic science, animal research, and clinical evidence to support the use of bone growth stimulation. Aging people are more prone to osteoarthritis and gouty arthritis. According to the Arthritis Foundation, over 50 million Americans suffered from arthritis in 2016, with that figure expected to rise to 78.4 million by 2040. As a result, the prevalence of arthritis is driving demand for these products.

Data Bridge Market Research analyses that the bone growth stimulator market which was USD 1,270.80 million in 2022, expected to reach USD 2,010.23 million by 2030, and is expected to undergo a CAGR of 5.9% during the forecast period 2023 to 2030. This indicates the market value. “Bone Growth Stimulation Devices” dominates the product segment of the bone growth stimulator market owing to the growing demand for better methods of bone related treatment. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Bone Growth Stimulator Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins, Platelet-Rich Plasma), Application (Spinal Fusion Surgeries, Delayed Union and Non-union Bone Fractures, Oral and Maxillofacial Surgeries), End-User (Hospitals and Clinics, Home Care, Academic and Research Institutes and CROs)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Zimmer Biomet (U.S.), Bioventus (U.S.), Synergy Orthopedics (U.S.), Ito Co., Ltd. (Japan), Boston Scientific Corporation (U.S.), BTL (Canada), Cyberonics, Inc. (U.S.), DJO LLC (U.S.), Medtronic (Ireland), Nevro Corp (U.S.), NeuroMetrix, Inc (U.S.), Abbott (U.S.), Uroplasty Inc (U.S.), Cogentix Medical (U.S.), Aleva Neurotherapeutics (Switzerland), NeuroPace Inc. (U.S.), AxioBionics (U.S.), Beurer GmbH (Germany), Omron Healthcare, Inc. (Japan), RS Medical (Japan), Stryker (U.S.)

Market Opportunities

  • Research and development proficiencies
  • Rise in prevalence of orthopaedic diseases

Market Definition

A bone growth factor is a growth factor that promotes the growth of bone tissue. Following a fracture or spinal fusion surgery, the therapy recommended by the surgeons is known as a bone growth stimulator, which aids in the faster healing of fractures. They are also known as osteogenesis stimulators and deliver painless ultrasound. They are extremely beneficial in cervical and lumbar spine surgery.

Global Bone Growth Stimulator Market Dynamics

Drivers

  • Rising Incidence of Trauma and Accident Cases

Osteoarthritis is regarded as one of the most common articular diseases among people over the age of 65. According to the centers for disease control and prevention (CDC), an estimated 63 million Americans have arthritis, with that number expected to rise to 78 million by 2040. Furthermore, according to World Population Prospects: The 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.

  • Rising Number of Bone Fracture Cases

The growing number of bone fracture cases and the effectiveness of external bone growth stimulators in healing fractures are driving up demand of the products. According to a study published in the Archives of Osteoporosis, 2020, fragility fractures in the five largest European Union countries plus Sweden (EU6) accounted for 2.7 million in 2017 and are expected to reach 3.3 million by 2030, a 23% increase from 2017.

Opportunity

  • Research and Development Proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the bone related diseases and treatment will further create lucrative market growth opportunities. Research and development proficiencies being conducted to provide best of the medications to curb the bone disorders such as osteoporosis, arthritis, among others is also bolstering the market growth rate.

Restraint/Challenge

  • High Cost of Treatment and Diagnosis

Bone growth stimulators can be expensive, especially for advanced or specialized devices. This high cost can limit their accessibility and adoption, particularly in regions with limited healthcare budgets or in veterinary practices with budget constraints.

Recent Developments

  • In February 2020, Orthofix Medical Inc. received US FDA approval for its STIM on Track, mobile app version 2.1 to advance treatment with its bone growth stimulators CervicalStim, SpinalStim, and PhysioStim
  • In January 2020, Medtronic acquired Stimgenics to expand its portfolio in Differential Target Multiplexed Spinal Cord Stimulation Therapy. Stimgenics, a privately held company that pioneered a novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation, was acquired by Medtronichas. The therapy, which is delivered via the Medtronic Intellis platform, is a novel programming option for treating chronic pain patients

Global Bone Growth Stimulator Market Scope

The global bone growth stimulator market is segmented on the basis of product, application, and end-users. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Bone Growth Stimulation Devices
  • External Bone Growth Stimulators
  • Ultrasonic Bone Growth Stimulators
  • Implanted Bone Growth Stimulators
  • Bone Morphogenetic Proteins
  • Platelet-Rich Plasma

Application

  • Spinal Fusion Surgeries
  • Delayed Union and Non-union Bone Fractures
  • Oral and Maxillofacial Surgeries

End-Users

  • Clinics and Hospitals
  • Home Care
  • Academic and Research Institutes
  • CROs

Global Bone Growth Stimulator Market Regional Analysis/Insights

The global bone growth stimulator market is analyzed and market size insights and trends are provided by product, application, and end-users as referenced above.

The countries covered in the global bone growth stimulator market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the bone global growth stimulator market because of the strong base of healthcare facilities, the strong presence of major players in the market, the extraordinary healthcare infrastructure, and the large pool of people having bone diseases and disorders.  

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote healthcare, the rising health awareness among the people and growing demand for advanced medical technology for skin care, the large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.  

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The global bone growth stimulator market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the global bone growth stimulator market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on global the bone growth stimulator market. The data is available for historic period 2015 to 2020.

Competitive Landscape and Bone Growth Stimulator Market Share Analysis

The global bone growth stimulator market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the company’s focus related to the global bone growth stimulator market.

Some of the major players operating in the global bone growth stimulator market are:

  • Zimmer Biomet (U.S.)
  • Bioventus (U.S.)
  • Synergy Orthopedics (U.S.)
  • Ito Co., Ltd. (Japan)
  • Boston Scientific Corporation (U.S.)
  • BTL (Canada)
  • Cyberonics, Inc. (U.S.)
  • DJO LLC (U.S.)
  • Medtronic (Ireland)
  • Nevro Corp (U.S.)
  • NeuroMetrix, Inc (U.S.)
  • Abbott (U.S.)
  • Uroplasty Inc (U.S.)
  • Cogentix Medical (U.S.)
  • Aleva Neurotherapeutics (Switzerland)
  • NeuroPace Inc. (U.S.)
  • AxioBionics (U.S.)
  • Beurer GmbH (Germany)
  • Omron Healthcare, Inc. (Japan)
  • RS Medical (Japan)
  • Stryker (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Bone Growth Stimulator Market will be worth USD 2,010.23 million by 2030.
The Bone Growth Stimulator Market growth rate is 5.9% during the forecast period.
Rising Incidence of Trauma and Accident Cases & Rising Number of Bone Fracture Cases are the growth drivers of the Bone Growth Stimulator Market.
The product, application, and end-users are the factors on which the Bone Growth Stimulator Market research is based.
Orthofix Medical Inc. received US FDA approval for its STIM on Track, mobile app version 2.1 to advance treatment with its bone growth stimulators CervicalStim, SpinalStim, and PhysioStim & Medtronic acquired Stimgenics to expand its portfolio in Differential Target Multiplexed Spinal Cord Stimulation Therapy. Stimgenics, a privately held company that pioneered a novel spinal cord stimulation (SCS) waveform are the latest developments in the Bone Growth Stimulator Market.
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