[201+ Pages Report] According to Facts and Factors, the Global Bone Growth Stimulation Devices market size was worth around USD 975.10 million in 2021 and is estimated to grow to about USD 1269.83 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.50% over the forecast period. The report analyzes the Bone Growth Stimulation Devices market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the Bone Growth Stimulation Devices market.
When the fracture healing process is sluggish or unsuccessful, bone growth stimulation devices are the medical gadgets that help. Giving patients electric shocks accelerates the body's natural healing process. Bone morphogenetic proteins, platelet-rich plasma, and devices that stimulate bone formation are some of the bone growth stimulators that are commercially accessible. Various reasons, including increasing patient demand for non-invasive and minimally invasive surgical treatments, increased prevalence of target disorders, and increased sports and accident-related orthopedic injuries, are driving the expansion of the bone growth stimulation device market.
However, the primary challenges inhibiting the growth of the bone growth stimulation device market include limited health reimbursement for bone stimulation devices, increased treatment costs associated with BMP and PRP products, and adverse effects related to BMP-based orthopedic treatment.
The global COVID-19 pandemic has substantially influenced markets in various sectors and industries, including healthcare, oil and petroleum, aeronautics and defense, and food and beverage. The pandemic is predicted to have a short-term negative impact on the bone growth stimulation devices market due to a drop in elective surgeries, a ban on organized sports, the temporary shutdown of O&P clinics, limited access to clinics, hospital access restricted to non-essential care, and a slowdown in in-patient flow and referrals. However, there are signs of modest revival in major European markets and China.
Due to the benefits these procedures provide over conventional treatment methods, the demand for minimally invasive procedures has increased significantly. Fewer postoperative complications, a shorter hospital stay, smaller and more cosmetic incisions, a lower risk of infection, less pain, less postoperative care, and a speedier recovery time are the main benefits of minimally invasive operations. Modern technology is used to identify and treat diseases like cancer in minimally invasive procedures. These operations are a successful method for removing lymph nodes and cancerous tumors without leaving scars.
Medical reimbursement is one of the key elements influencing the acceptance and demand of particular diagnostic or therapeutic goods among health care providers and patients at a national level. Most healthcare insurance companies in developed nations (like the US and Australia) cover products that stimulate bone formation if certain conditions are met. Many private insurance companies do not offer coverage or reimbursement for procedures that promote bone development.
The market for bone growth stimulation devices is anticipated to present significant growth possibilities in emerging economies, including China, Brazil, India, and Mexico. The demand for bone growth stimulation products in these nations is anticipated to increase as a result of factors including the presence of a sizable patient population, rising healthcare spending, initiatives to encourage the health sector, enhancing export trade, and growing awareness among doctors, surgeons, and patients about the most current treatment options for spinal fusion and bone healing.
BMPs have a few adverse effects, despite being utilized more frequently in spinal fusion and bone repair. The main negative consequences of BMPs following spinal fusion surgery include implant dislodgment, tissue edema, and male infertility. According to reports, BMPs activate oncogenes and trigger antigenic responses during bone repair. While using its BMP product in spinal fusion procedures for bone repair, Medtronic identified several clinical problems.
The global Bone Growth Stimulation Devices market is segregated based on product, application, end-user, and region.
The market is divided into Spinal Fusion Surgeries, Delayed Union and Nonunion Bone Fractures, Oral and Maxillofacial Surgeries, and Other Applications. The spinal fusion surgeries segmenting the bone growth stimulation devices market is expected to develop fastest in 2021. Spinal fusion procedures are performed to permanently join two or more vertebrae and stop motion between them. Products that promote bone growth are used before, during, and after operations to encourage the natural process of bone formation. The rise in spine surgeries, the aging population, the safety and effectiveness of stimulators in fusion surgery, and the rising use of bone growth stimulation devices are all factors contributing to the growth of this market.
By end user, the market is classified into Hospitals and Clinics, Home Care and Academic and Research Institutes, and CROS. The hospitals and clinics segment held the most significant market share for bone growth stimulation devices in 2021. In hospitals and clinics, bone development stimulation items are utilized for various procedures, such as spine surgeries, oral and maxillofacial surgeries, dental procedures, and bone fractures. The benefits of bone growth stimulation goods over alternatives include the expanding patient base, the volume of spinal fusion surgeries performed, the rising incidence of spinal problems, and the increased public knowledge of bone growth stimulation products.
Report Attribute |
Details |
Market Size in 2021 |
USD 975.10 Million |
Projected Market Size in 2028 |
USD 1269.83 Million |
CAGR Growth Rate |
4.50% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Zimmer Biomet, Bioventus, Orchid Medical Inc., TERUMO BCT INC., Arteriocyte Medical Systems Inc., Arthrex Inc., Smith & Nephew, Stryker, Medtronic, Orthofix Medical Inc., Regen Lab SA, elizur Corporation, and Others |
Key Segment |
By Product, Application, End User, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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North America is expected to dominatetheBone Growth Stimulation DevicesMarket in 2021. North America's high dominance may be ascribed to the region's highly established healthcare system and reimbursement system, as well as increased physician and patient awareness of newly launched treatment methods and practices in the market. The rising prevalence of spinal problems, an aging population, increased exposure to important risk factors (such as obesity, smoking, and diabetes), and expanding patient desire for less invasive orthopedic therapy are all driving the expansion of the North American bone growth stimulation devices market.
Over the forecast period, Asia Pacific regional market is expected to grow significantlyin the Bone Growth Stimulation Devicesmarket in 2021. The growing prevalence of bone ailments in the area has led to profitable development. The large pool of potential patients and the market's under-saturation are anticipated to provide good growth prospects for bone stimulator firms to spread out in the area and boost regional growth. Furthermore, the growing demand for minimally invasive and non-invasive surgical procedures, patients with osteoarthritis and other degenerative bone diseases, the innovation of biocompatible synthetic bone grafts, and an increase in orthopedic conditions and surgical incidents are some of the main factors that are predicted to fuel this market's expansion.
Some of the main competitors dominating the Global Bone Growth Stimulation Devices market include-
The global Bone Growth Stimulation Devices marketis segmented as follows:
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