Global Bone Growth Stimulators Market Report and Forecast 2023-2031

Global Bone Growth Stimulator Market Report and Forecast 2023-2031

Global Bone Growth Stimulator Market Outlook

The global bone growth stimulator market value was USD 1.70 billion in 2022, driven by the increasing prevalence of orthopaedic conditions across the globe. The global market share is anticipated to grow at a CAGR of 5.4% during the forecast period of 2023-2031 to achieve a value of USD 2.73 billion by 2031.

Bone Growth Stimulator: Introduction

Bone growth stimulators are medical devices that help promote the healing of fractures and spinal fusion by stimulating the body's natural bone growth processes. These devices use techniques such as electrical stimulation, ultrasound, or magnetic fields to promote bone healing.

Bone Growth Stimulator Market Scenario

The global bone growth stimulator market has witnessed significant growth in recent years, driven by factors such as the increasing prevalence of orthopaedic conditions, the aging population, and advancements in bone growth stimulation technologies.

North America: The largest market for bone growth stimulators, driven by factors such as advanced healthcare infrastructure, high prevalence of orthopaedic conditions, and significant investments in research and development.

Europe: The second-largest market, with increasing demand for bone growth stimulators due to a growing aging population, a supportive regulatory framework, and an expanding healthcare sector.

Asia-Pacific: Expected to witness the highest growth rate due to factors such as a rapidly growing population, increasing prevalence of orthopaedic conditions, and growing investments in healthcare infrastructure and research.

Bone Growth Stimulator Market Segmentations

Market Breakup by Type

• Bone Growth Stimulation Devices
• External BGS
• Implanted BGS
• Ultrasonic BGS
• Bone Morphogenetic Proteins (BMP)
• Platelet-Rich Plasma

Market Breakup by Application

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

Market Breakup by End Use

• Hospitals and Clinics
• Home Care
• Academics and Research Institutes and CROS

Market by Region

• North America
• United States of America
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Others
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Australia
• Others
• Latin America
• Brazil
• Argentina
• Mexico
• Others
• Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Key Trends in the Bone Growth Stimulator Market

Some key trends of the market are as follows:

• Increasing prevalence of orthopaedic conditions: The rising incidence of conditions such as osteoporosis, spinal disorders, and fractures has led to a growing demand for bone growth stimulators, driving market growth.
• Aging population: The growing aging population worldwide has increased the risk of bone-related issues and fractures, further contributing to the demand for bone growth stimulators.
• Advancements in bone growth stimulation technologies: The development of new and more effective bone growth stimulation techniques and devices has improved the efficiency and safety of these treatments, further driving market growth.

Competitor Landscape

The report gives an in-depth analysis of the key players involved in the bone growth stimulator market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:

• Medtronic
• Bioventus LLC
• Orthofix Holdings, Inc.
• Zimmer Biomet Holdings Inc.
• DJO, LLC
• DePuy Synthes
• Stryker Corporation
• Arthrex, Inc.
• Bioventus
• Isto Biologics
• Terumo BCT, Inc.

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