Bone Growth Stimulators Market Analysis and Forecast to 2031: By Product (Bone Growth Stimulation Devices, Bone Morphogenic Proteins, Platelet-Rich Plasma), Application (Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacia

Bone Growth Stimulators Market Analysis and Forecast to 2031: By Product (Bone Growth Stimulation Devices, Bone Morphogenic Proteins, Platelet-Rich Plasma), Application (Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries, Others), End User (Hospitals & ACS, Home Care Settings, Academic & Research Institutes) and Region

The bone growth stimulators market size was 1 billion in 2021 and it is anticipated to reach USD 2 billion in 2031, growing at a CAGR of 7.0% from 2022-2031.

Bone Growth stimulators are devices that are used to boost the healing process during the treatment of the ailments such as spinal fixation, and orthopedic fixation. Bone growth stimulators work on all kinds of fractures such as fresh fractures, fractures healing slowly or not at all, and fractures with an elevated risk. It can also be used as supportive therapy after surgery on a fracture and in the corrective osteotomy. Bone Growth Stimulator enhances the healing process by stimulating the production of new cells, which will allow your fracture to heal considerably faster. Bone growth stimulators are the perfect treatment approach when the patient is not comfortable with the surgical procedure and wants to avoid it. Also, as it fastens the healing process, it helps patients get back to their feet quickly. Bone growth stimulators have revolutionized the treatment of bone fractures and spinal fusions and are becoming an important tool in the healing process. Advantages over surgical procedures, faster recovery time, and increasing patient preference are factors that contribute to the growth of the bone growth stimulator market.

Bone Growth Stimulators Market Scope and Structure Analysis

Market Trends and Drivers

The key factor boosting the growth of the market is the growing patient preference for non-invasive and minimally invasive surgical treatments. The demand for minimally invasive procedures has witnessed a significant increase owing to the advantages offered by these procedures over traditional treatment procedures. The key advantages of minimally invasive procedures comprise fewer complications, shorter hospitalization, less pain, smaller and more cosmetic incisions, lower risk of infections, reduced postoperative care, and quicker recovery. Minimally invasive procedures make use of advanced technologies to diagnose and treat various diseases, comprising cancer. These procedures are used as an effective approach for removing cancer tumors and lymph nodes without scarring.

Similarly, emerging markets such as China, India, Brazil, and Mexico are expected to offer significant growth opportunities in the bone growth stimulators market. Factors such as the presence of a large patient population, rising healthcare expenditure, government initiatives to support the healthcare industry, strengthening export trade, and growing awareness among physicians, surgeons, and patients about the latest treatment options for spinal fusion and bone healing are expected to boost the demand for bone growth stimulation products in these countries. In addition, owing to the significant cost advantages, many patients from developed markets are reported to travel to these emerging markets to undergo medical treatment.

Market Restraints and Challenges

The primary factor hampering the growth of the bone growth stimulators market is limited medical reimbursement for bone stimulation products. Medical reimbursement is among the major factors that affect the adoption and demand of specific diagnostic or therapeutic products among patients and healthcare providers at a country level. A majority of healthcare insurance providers in mature countries (such as the US and Australia) cover bone growth stimulation products under specific criteria. For instance, in the US, bone growth stimulation devices are covered under insurance if target bones are separated by less than 1 centimeter or are non-infected. Medicare (US) also covers bone growth stimulation devices under Part B schedule and offers device rent on prescription for specified indications. Similarly, the Transport Accident Commission (Australia) provides funding for implantable or externally applied bone growth stimulation equipment in case of transport accident injuries in the country. However, many private insurance providers do not include insurance or reimbursement for bone growth stimulation surgeries.

Global Bone Growth Stimulators Market Segmentation

The report analyses the bone growth stimulators market based on product, application, end user, and region.

Global Bone Growth Stimulators Market by Product

On the basis of the product, it is segmented into bone growth stimulation devices, bone morphogenic proteins, and platelet-rich plasma. The bone growth stimulation devices segment accounted for the bone growth stimulators market. This can be attributed to the growing geriatric population, rising preference for non-surgical treatment procedures, and growing prevalence of nonunion fractures. Adding to that, obesity, smoking, and diabetes, among other factors, can delay or inhibit bone healing after surgery or trauma. The growing incidence of these risk factors will further help the market growth.

Global Bone Growth Stimulators Market by Application

On the basis of the application, it is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries, and others. Spinal fusion surgeries are conducted to connect two or more vertebrae permanently and eliminate motion between them. Bone growth stimulation products are used at the time or post-surgery for stimulating the natural bone growth process. The growth of this segment can be attributed to the increasing population, the growing number of spine procedures, the established safety and efficacy of stimulators in fusion surgery, and the increasing use of bone growth stimulation products.

Global Bone Growth Stimulators Market by End User

On the basis of the end users, it is segmented into hospitals & ASC’s, home care settings, and academic & research institutes. The hospitals & ASCs accounted for the largest share of the bone growth stimulators market. The advantages of bone growth stimulation products over their counterparts, the growing prevalence of spinal disorders, and growing awareness of bone growth stimulation products are the key factors boosting the bone growth stimulators markets for hospitals and ASC’s.

Geographical Analysis of Global Bone Growth Stimulators Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the bone growth stimulators market. It is attributed to the highly developed healthcare infrastructure and reimbursement system in the region and growing physician and patient awareness about the newly introduced treatment procedures and technologies in the market. The rising incidence of spinal disorders, increasing geriatric population, growing population exposure to key risk factors such as obesity, smoking, and diabetes, and rising patient preference for minimally invasive orthopedic therapies are further boosting the growth of the market.

Market Players of the Global Bone Growth Stimulators Market

The global bone growth stimulators market report comprises key players such as Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India) among others.

COVID-19 Analysis

The pandemic is anticipated to have a short-term negative impact on the bone growth stimulators market owing to a sharp decline in elective surgeries, ban on organized sports, temporary closure of O&P clinics, hospital access restricted to non-essential care, and limited access to clinics, and slow-down in-patient flow and referrals. However, gradual signs of recovery can be seen in key European markets as well as China. It is expected that the market will begin to gradually rise as expected from the late second half of 2021, which could be attributed to addressing pre-COVID elective surgeries, the growing number of surgeries resulting from clearing backlogs as well as new cases, fully reopened healthcare services, recreation, and physical work resumed on a large scale and the reopening of organized sports. Moreover, long-term growth drivers like an increase in the geriatric population and the rising prevalence of diabetes, obesity, and osteoarthritis will continue to play a major role in the growth of the market during the forecast period.

Recent Developments

• April 2021, Orthofix entered into an exclusive license agreement to commercialize the innovative portfolio of IGEA’s bone, cartilage, and soft tissue stimulation products in the US and Canada.
• March 2021, Bioventus LLC announced the acquisition of Bioness, Inc. This acquisition will enable Bioventus LLC to expand its bone growth therapy product portfolio.
• November 2020, Stryker acquired Wright Medical for USD 5.4 billion. The acquisition strengthened Stryker’s position in the orthopedics devices market.
• June 2020, DePuy Synthes renewed its agreement with AO Foundation to improve patient care and outcome through innovation and AO’s independent global education offerings.
• February 2020, Orthofix Medical Inc. received US FDA approval for its STIM on Track, mobile app version 2.1 to advance the treatment with its bone growth stimulators like Cervical Stim, Spinal Stim, and Physio Stim.
• January 2020, Medtronic acquired Stimgenics to expand its portfolio in the Differential Target Multiplexed Spinal Cord Stimulation Therapy.

Frequently Asked QuestionsQ. How big is the bone growth stimulators market?Ans. The global bone growth stimulators market size was USD 1 billion in 2021 and is anticipated to reach USD 2 billion in 2031, growing at a rate of 7.0% from 2022 to 2031.Q. What is the bone growth stimulators market growth rate?Ans. The growth rate of the bone growth stimulators market is 7.0% from 2022 to 2031.Q. Which region holds a major market share for the bone growth stimulators market?Ans. North America holds a major market share of the bone growth stimulators market in 2021.Q. Which segment accounted for the largest bone growth stimulators market share?Ans. By end-user, the hospital & ASC’s segment accounted for the largest bone growth stimulators market share.Q. Who are the key players in the bone growth stimulators market?Ans. The global bone growth stimulators market report includes players such as Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India) among others.Q. What are the factors driving the bone growth stimulators market growth?Ans. The major factors driving the growth of the market are the rising burden of bone and joint disorders coupled with the development of biocompatible synthetic bone grafts.Q. What are the key growth strategies of bone growth stimulators market players?Ans. The key growth strategies of bone growth stimulators market players are product launch and product approval.Q. Which region will provide more business opportunities for the bone growth stimulators market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for bone growth stimulators market during the forecast period

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