Bone Growth Stimulators Market Size, Share & Trends Analysis Report By Product (Bone Morphogenetic Proteins, Platelet-rich Plasma), By Application (Spinal Fusion Surgeries, Orthopedic Trauma Surgeries), By End-use, By Region, And Segment Forecasts, 2024 -

Bone Growth Stimulators Market Size, Share & Trends Analysis Report By Product (Bone Morphogenetic Proteins, Platelet-rich Plasma), By Application (Spinal Fusion Surgeries, Orthopedic Trauma Surgeries), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Bone Growth Stimulators Market Growth & Trends

The global bone growth stimulators market size is anticipated to reach USD 1.53 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 5.1% from 2024 to 2030. Escalating demand for noninvasive and minimally invasive treatments is a major factor estimated to boost market growth during the forecast period. Some advantages offered by minimally invasive surgeries are smaller incisions, low risk of infections, speedy recovery, shorter stay at the hospital, reduced scarring, and minimal blood loss during surgery. Thus, there is high adoption of Bone Morphogenetic Proteins (BMP) and Platelet-rich Plasma (PRP) for minimally invasive spinal and orthopedic surgeries, which is expected to boost the market growth.

The rising number of trauma and accident cases is another major factor projected to support the growth of the bone growth stimulator market. According to WHO, around 20 to 50 million people are injured every year due to road accidents. Road accidents and trauma are likely to result in severe spinal injuries as well as delayed union or nonunion of bone fractures, which is projected to drive demand for bone growth stimulators.

Bone Growth Stimulators Market Report Highlights

• Bone growth stimulation devices segment was the largest revenue grossing segment of the market in 2023 owing to high demand for noninvasive treatments by patients as well as product advancements.
• PRP segment is estimated to grow at the highest CAGR during the forecast period owing to its growing popularity for bone and soft tissue healing, as well as its favorable safety profile and potential promising outcome for the development of regenerative treatments.
• In the application segment, the spinal fusion surgeries segment accounted for the largest share in 2023 and is projected to maintain its dominance during the forecast period owing to the escalating number of spinal injuries, fractures, and spinal stenosis.
• The hospitals segment accounted for the largest share in the overall market and is expected to maintain its dominance during the study period due to escalating number of admissions of patients suffering from traumatic injuries, road accidents, spinal injuries, and bone fractures.
• North America dominated the overall market in 2023 mainly due to the existence of several leading medical device companies in this region and highly developed healthcare infrastructure.
• The Asia Pacific bone growth stimulator market is projected to grow at the highest rate during the forecast period. The rising number of road accidents and developing healthcare infrastructure in Asian countries, including China, India, and Indonesia, are major factors contributing to growth in this region.

Please note The report will be delivered in 2-3 business days upon order notification.