Bone Growth Stimulators Market Segmentation by Product (Device [Implant & External], Bone Morphogenetic Protein [BMP], Platelet-rich Plasma [PRP], and Others); by Application (Spinal Fusion, Delayed Union, Non-union Bone Fracture, Maxillofacial Surgery, and Others); by End-Use (Hospital, Homecare, and Academic & Research Institutes)-Global Demand Analysis and Opportunity Outlook 2022-2030

Global Bone Growth Stimulators Market Highlights over 2022-2030

The global bone growth stimulators market was valued at approximately USD 1.5 billion by the end of 2021 and is further projected to escalate with a CAGR of ~6% over the forecast period, i.e., 2022-2030. The growth of the market can be attributed to the growing concern of patients towards involving any kind of foreign objects into their bodies. Furthermore, the rising number of orthopedic injuries associated with an accident or sports is also expected to drive the market growth.

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However, restraints, such as little or no medical compensation for bone stimulation devices, and costly bone morphogenetic protein (BMP) and platelet-rich plasma (PRP) products and associated treatments along with their side effects, are expected to operate as barriers for the growth of the market.

COVID-19 has had a huge impact across various different industries and markets. It has negatively impacted the global bone growth stimulators market due to a rapid decline in elective surgeries, limited to no access to clinics, drop in patient volume, ban on sports activities, and hospital access being limited to only essential care. However, the market is slowly recovering, and is expected to gain traction as new and innovative methods of diagnosis and treatment are emerging to help medical professionals treat patients effectively.

The market is segmented by application into spinal fusion, delayed union, non-union bone fracture, maxillofacial surgery, and others, out of which, the spinal fusion segment is anticipated to hold the largest share of the market and witness significant growth over the forecast period owing to increasing number of spine related surgeries and the effectiveness of bone growth stimulators in them.

Global Bone Growth Stimulators Market Regional Synopsis

Regionally, the global bone growth stimulators market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America holds the largest share of the market on the back of a well-established healthcare infrastructure, efficient reimbursement systems, and increased awareness about the new technology and treatment procedures in the region.  Furthermore, the rising number of orthopedic diseases in the region is also expected to propel the market growth. According to the National Spinal Cord Injury Statistical Center (NSCISC), as of 2020, approximately 17,900 new cases of spinal cord injury are recorded every year in the United States.

Market Segmentation

Our in-depth analysis of the global bone growth stimulators market includes the following segments:

By Product

• Device (Implant & External)

• Bone Morphogenetic Protein (BMP)

• Platelet-rich Plasma (PRP)

• Others

By Application

• Spinal Fusion

•  Delayed Union

•  Non-union Bone Fracture

•  Maxillofacial Surgery

• Others

By End-Use

• Hospitals

• Homecare

• Academic and Research Institutes

Growth Drivers and Challenges Impacting the Growth of the Global Bone Growth Stimulators Market

Growth Drivers:

• Growing concern of patients towards involving any kind of foreign objects into their bodies

• Rising number of orthopedic injuries

Challenges:

• Little or no medical compensation for bone stimulation devices

• Costly BMP and PRP products and associated treatments along with their side effects

Key Companies Dominating the Bone Growth Stimulators Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global bone growth stimulators market that are included in our report are:

• Orthofix Medical, Inc.

• Bioventus LLC

• DJO, LLC

• Arthrex, Inc.

• Zimmer Biomet

• Ember Therapeutics

• Terumo Corporation

• Stryker

• Ossatec Benelux BV

• Altis Biologics (Pty) Ltd.

• BTT Health GmbH

Latest Developments in the Bone Growth Stimulators Market

• April 2021: Orthofix Medical, Inc. signed an exclusive license agreement with IGEA S.p.A. to help commercialize their innovative portfolio for bone, cartilage, and soft tissue stimulation products in the U.S. and Canada.

• November 2020: Stryker completed its acquisition of Wright Medical Group N.V. through a series a mergers implemented pursuant to the agreement that enhanced its global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.

•  The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

•  We provide customized reports as per the clients’ requirements helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goals.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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