Bone Growth Stimulator Market by Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins, Platelets-Derived Growth Factor); Application (Spinal Fusion, Delayed Union, Non-union Bone Fracture, Oral & Maxillofacial Surgeries, and Other Application); End Users (Hospital and ASCs, Home Care Settings and Academic & Research care Institutes): Global Market Size Estimates and Forecast (2022 -2030)

Code: BMIRE00026801 | Pages: 100 | Industry: Medical Device | Date: Oct 2022 | Type: Global

The market crossed the US$ 1.63 billion mark in 2022 and is expected to hit US$ 2.59 billion by 2030, recording a CAGR of 5.2% during the forecast period.

The bone growth stimulation devices segment held the largest market share of the bone growth stimulators market in 2022.

Based on the products, the bone growth stimulator market is classified into bone growth stimulation devices, bone morphogenetic proteins (BMP), and platelets-derived growth factor (PDGF). The bone growth stimulation devices segment held the largest market share in the global bone growth stimulator market in the year 2022 the growth is due to the growing geriatric population, growing prevalence of nonunion fractures, and rising preference for non-surgical treatment procedures. Furthermore, obesity, smoking, and diabetes are among other factors responsible for delayed bone healing after surgeries. The rising incidence of these risk factors will further aid bone growth stimulator market. 

Increasing demand for non-invasive and minimally invasive surgical treatments

The rising need for minimally invasive procedures has witnessed a considerable increase, this is due to the various advantages provided by these procedures over conventional treatment practices. The major advantages of minimally invasive procedures comprise minimal operative complications, no longer hospital stay, less or no pain, smaller cosmetic incisions, risk of infection is low, postoperative care, and quicker recovery. Minimally invasive procedures required various advanced technologies and arthroscopes to diagnose and treat various diseases, including cancer. These techniques are worked as an efficient method for removing cancer tumours and lymph nodes without hurting. 

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Emerging Economies

Emerging economies of the world like India, China, Brazil, and Mexico are anticipated to offer considerable growth prospects in the bone growth stimulators market. A large population base, growing healthcare expenditure, growth in the healthcare industry by government support, solid export trade, physicians’ awareness, 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, due to the low-cost treatment and benefits offered, increasing medical tourism in these countries will bring huge growth avenues during the forecasted year.

 Recent strategic developments in the bone growth stimulators market

The bone growth stimulators market has undergone several significant developments, and a few of these have been mentioned below:

  • In August 2022, Theragen announced that it has been granted a US patent for the development of its ActaStim-S spine fusion bone growth stimulator system. The system not only promotes healing, but also encourages patient compliance, engagement, and informed dialogue with healthcare providers during the critical and lengthy post-operative fusion process.
  • In May 2022, Orthofix Medical Inc. a global medical device company announced the U.S. Food and Drug Administration (FDA) pre-market approval for the AccelStim bone healing therapy Class III device. The AccelStim device provides a safe and effective nonsurgical treatment for indicated fresh fractures and for fractures that have not healed.
  • In 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.
  • In Nov 2020, Stryker acquired Wright Medical for USD 5.4 billion. The acquisition strengthened Stryker’s position in the orthopedics devices market.
  • In June 2020, DePuy Synthes renewed its agreement with AO Foundation to improve patient care and outcomes through innovation and AO’s independent global education offerings.
  • The bone growth stimulators market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Orthofix International N.V., DJO Global, Inc., Zimmer Biomet Holdings, Inc., Medtronic, plc, Johnson & Johnson, Stryker Corporation, Bioventus Inc., Arthrex, Inc., ISTO Biologics, Ossatec Benelux Ltd., Regen Lab SA, ITO CO., Ltd., Altis Biologics Ltd, and Harvest Technologies Corporation are among the prominent players operating in the market.

The target audience for the report:

  • Raw Material Supplier
  • Healthcare Services Providers (hospitals and public & private clinics)
  • Physiotherapist
  • Medical Device Distributor
  • Contract Development and Manufacturing Organization (CDMO)
  • Research institutes, Organizations, and Consulting Companies

Scope of the report:

In this report, the market has been segmented based on:

  • Product
    • Bone Growth Simulation Devices
      • Electrical Bone Growth Simulators
        • Capacitive Coupling (CC) Device
        • Combined Magnetic Field Devices (CMF)
        • Pulse Electromagnetic Field Devices  (PEMF)
      • Implantable Bone Growth Stimulators
      • Ultrasonic Bone Growth Stimulators
    • Bone Morphogenetic Proteins
    • Platelet-rich Plasma
  • Application:
    • Spinal Fusion Surgeries
    • Delayed Union & Nonunion Bone Fractures
    • Oral & Maxillofacial Surgeries
    • Other Applications
  • End User:
    • Hospitals & ASCs
    • Home Care Settings
    • Academic & Research Institutes
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Orthofix International N.V.
    • DJO Global, Inc.
    • Zimmer Biomet Holdings, Inc.
    • Medtronic, plc
    • Johnson & Johnson
    • Stryker Corporation, Bioventus Inc.
    • Arthrex, Inc.
    • ISTO Biologics
    • Ossatec Benelux Ltd.
    • Regen Lab SA
    • ITO CO., Ltd.
    • Altis Biologics Ltd
    • Harvest Technologies Corporation
    • Others

The List of Companies
- Orthofix International N.V.
- DJO Global, Inc.
- Zimmer Biomet Holdings, Inc.
- Medtronic, plc
- Johnson & Johnson
- Stryker Corporation, Bioventus Inc.
- Arthrex, Inc.
- ISTO Biologics
- Ossatec Benelux Ltd.
- Regen Lab SA
- ITO CO., Ltd.
- Altis Biologics Ltd
- Harvest Technologies Corporation
- Others

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