Bone Growth Stimulators Market Size By Type (Bone Growth Stimulation Devices {Electrical Bone Growth Stimulators [Combined Magnetic Field (CMF) Devices, Capacitive Coupling (CC) Devices, Pulsed Electromagnetic Field (PEMF) Devices], Implanted Bone Growth

Bone Growth Stimulators Market Size By Type (Bone Growth Stimulation Devices {Electrical Bone Growth Stimulators [Combined Magnetic Field (CMF) Devices, Capacitive Coupling (CC) Devices, Pulsed Electromagnetic Field (PEMF) Devices], Implanted Bone Growth Stimulators, Ultrasonic Bone Growth Stimulators}, Bone Morphogenetic Proteins (BMP), Platelet-Rich Plasma (PRP)), By Application (Spinal Fusion Surgeries, Delayed Union & Non-union Bone Fractures, Oral And Maxillofacial Surgeries), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2022 - 2028

The bone growth stimulators market is speculated to showcase steady expansion by 2028 on account of increasing patient preference for minimally invasive surgical treatments around the world.

Recent technological advancements and the rollout of innovative products in the market have augmented industry uptake over the past few years. Furthermore, industry participants have been employing gainful strategies to tap into emerging trends in the market, which has positively impacted the overall business outlook.

For instance, in February 2022, Orthofix Medical Inc., a leading medical device company specializing in orthopedics, launched its novel synthetic bioactive bone graft solution dubbed the Opus BA to expand its synthetic bone growth offerings. The Opus BA has been designed to fill bone gaps or voids to re-establish the structural integrity of the bones.

The bone growth stimulators industry has been bifurcated based on end-use, type, application, and region. With respect to type, the market has further been bifurcated into platelet-rich plasma (PRP), bone morphogenetic proteins (BMP), and bone growth stimulation devices.

In 2021, the bone growth stimulation devices sub-segment held a significant valuation and is projected to progress at a notable CAGR through the review timeline. Increasing accidental injuries and trauma that result in a higher number of fractures are likely to boost segmental growth in the coming time period.

From the application point of view, the industry has been classified into spinal fusion surgeries, oral and maxillofacial surgeries, delayed non-union and union bone fractures, and others. The bone growth stimulators market from the spinal fusion surgeries sub-segment recorded a considerable valuation in 2021 and is set to develop at a sturdy growth rate over the study timeline. This growth is attributed to mounting adoption of bone growth stimulation devices in spinal fusion surgeries.

With respect to end-use, the market has been divided into ambulatory surgical centers, hospitals & clinics, and others. The bone growth stimulators market size from the hospitals & clinics sub-segment garnered a notable revenue in 2021 and is anticipated to witness optimistic expansion through the assessment period. Hospitals and clinics are widely preferred owing to several factors, such as high success rate, availability of board-certified skilled doctors, and faster and more efficient work culture, among others.

On the regional front, the Latin America bone growth stimulators market surpassed a substantial valuation in 2021 and is poised to grow at a significant CAGR between 2022 and 2028. Rising prevalence of bone & joint disorders and growing awareness among patients regarding minimally invasive surgeries in countries across the LATAM region are estimated to propel market development over the forthcoming years.