28-Jul-2022 | Facts and Factors
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 the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Bone Growth Stimulation Devices market.
Bone growth stimulator devices are medical devices that enhance fracture healing in circumstances of delay or failure. They speed up the healing process by administering electric shocks to patients. Some bone growth stimulators on the market include bone morphogenetic proteins, bone growth stimulation agents, and platelet-rich plasma. There are three types of bone growth stimulation devices: pulsed electromagnetic field devices, capacitive coupling devices, and hybrid magnetic field devices. The increasing number of individuals struggling from degenerative bone diseases and osteoarthritis is expected to fuel market expansion. Owing to the rise in demand for Bone Growth Stimulation Devices, the global Bone Growth Stimulation Devices market is estimated to grow at a CAGR of 4.50% during the forecast period.
Browse the full “ Bone Growth Stimulation Devices Market By Product (External Bone Growth Stimulators, Implanted Bone Growth Stimulators, and Ultrasonic Bone Growth Stimulators), By Application (Spinal Fusion Surgeries, Delayed Union and Nonunion Bone Fractures, Oral and Maxillofacial Surgeries and Other Applications), By End User (Hospitals and Clinics, Home Care and Academic and Research Institutes and CROS), and By Region- Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/bone-growth-stimulation-devices-market
Growing demand for non-invasive and minimally invasive surgical treatments, an increase in target patient population, an increase in the number of benefits provided by devices in bone fracture treatment, the development of biocompatible synthetic bone grafts, and an increase in orthopedic conditions and surgical cases are some of the major and critical factors that will likely augment the growth of the bone growth stimulation devices market. On the other hand, an increasing number of applicants from emerging economies, as well as technical innovation and development in the field of healthcare, will help the expansion of the bone growth stimulation devices market by generating significant potential. However, high treatment costs, combined with a lack of reimbursement policies in emerging economies, are predicted to function as market barriers to the expansion of bone growth stimulation devices over the forecasted timeframe.
Segmental Overview
The Global Bone Growth Stimulation Devices Market is segregated based on product, application, end-user, and region. Based on product, the market is divided into External Bone Growth Stimulators, Implanted Bone Growth Stimulators and Ultrasonic Bone Growth Stimulators. Among these the External Bone Growth Stimulators segment dominates the market in 2021.
Based on application, the market is divided into Spinal Fusion Surgeries, Delayed Union and Nonunion Bone Fractures, Oral and Maxillofacial Surgeries and Other Applications. Over the forecast period, the spinal fusion surgeries segment is expected to develop at the fastest rate in 2021.
Based on end-user, the market is classified into Hospitals and Clinics, Home Care and Academic and Research Institutes and CROS. The hospitals and clinics segment dominates the market in 2021.
Regional Overview
North America is expected to dominate the Global Bone Growth Stimulation Devices Market in 2021. The highly developed healthcare system and reimbursement system in North America, as well as greater physician and patient awareness of recently introduced treatment procedures and practices in the market, may be attributed to the region's high dominance. The market for North American bone growth stimulation devices is growing as a result of an aging population, an increase in the prevalence of spinal problems, increased exposure to significant risk factors (such as obesity, smoking, and diabetes), and growing patient demand for minimally invasive orthopedic therapy.
Over the forecast period, the Asia Pacific regional market is expected to grow at a significant rate in 2021. Profitable development has resulted from the area's rising prevalence of bone diseases. It is projected that the sizable pool of potential customers and the market's under saturation would offer bone stimulator companies profitable expansion opportunities, helping to foster regional growth.
Report Scope
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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Competitive Landscape
Key players functioning in the global Bone Growth Stimulation Devices market include 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.; BTT Health GmbH; Synergy Orthopedics; Ito Co., Ltd.; DePuy Synthes; DJO, LLC; Ossatec Benelux BV; Verve Consulting Inc.; IGEA; among other domestic and global players.
Recent developments:
- In March 2021, Bioness, Inc. has been acquired by Bioventus LLC. Bioventus LLC will be able to increase its bone growth therapy product portfolio as a result of this acquisition.
- In 2020, DePuy Synthes renewed its partnership with the AO Foundation to promote patient care and outcomes through innovation and the AO Foundation's independent worldwide education offerings.
The global Bone Growth Stimulation Devices market is segmented as follows:
By Product
- External Bone Growth Stimulators,
- Implanted Bone Growth Stimulators
- Ultrasonic Bone Growth Stimulators
By Application
- Spinal Fusion Surgeries
- Delayed Union and Nonunion Bone Fractures
- Oral and Maxillofacial Surgeries
- Other Applications
By End User
- Hospitals and Clinics
- Home Care
- Academic and Research Institutes and CROS
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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