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
4 May 2022
Healthcare & Pharmaceuticals
Impact Analysis on the Growth of Market
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With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2020 as base year, 2021 as estimated year and forecast to 2030. This will have market drivers, recovery rate in the market, insights and competitive analysis.
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.
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 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 well-established healthcare infrastructure, efficient reimbursement systems, and increased awareness about the new technology and treatment procedures in the region. Furthermore, 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.
Our in-depth analysis of the global bone growth stimulators market includes the following segments:
Device (Implant & External)
Bone Morphogenetic Protein (BMP)
Platelet-rich Plasma (PRP)
Non-union Bone Fracture
Academic and Research Institutes
Growth Drivers and Challenges Impacting the Growth of the Global Bone Growth Stimulators Market
Growing concern of patients towards involving any kind of foreign objects into their bodies
Rising number of orthopedic injuries
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.
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 their global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients.
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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.
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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
FREQUENTLY ASKED QUESTIONS
The major factors driving the growth of the global bone growth stimulators market are growing concern of patients towards involving any kind of foreign objects into their bodies, and rising number of orthopedic injuries.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022-2030.
Little or no medical compensation for bone stimulation devices, and ostly BMP and PRP products and associated treatments along with their side effects are estimated to hamper the growth of the market.
Which region will provide more business opportunities for growth of global bone growth stimulators market in future?
North America is expected to provide significant business opportunities for the growth of the market.
The major players in the market 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, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, application, end-use, and by region.
Which sub-segment captures the largest market size in the end-use segment in the global bone growth stimulators market?
The hospital sub-segment is expected to hold the largest share largest market size in value and witness a modest growth over the forecast period.
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- Orthofix Medical, Inc.
- Bioventus LLC
- DJO, LLC
- Arthrex, Inc.
- Zimmer Biomet
- Ember Therapeutics
- Terumo Corporation
- Ossatec Benelux BV
- Altis Biologics (Pty) Ltd.
- BTT Health GmbH