Global Bone Growth Stimulator Market Size to Reach USD 3.80 Billion in 2032 | Emergen Research

Vancouver, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global bone growth stimulator market size was USD 2.22 Billion in 2022 and is expected to register a steady revenue CAGR of 5.5% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of Minimally Invasive Surgical (MIS) techniques and aging population and rising prevalence of osteoporosis are key factors driving market revenue growth.

A bone growth stimulator is an electrical stimulation treatment used to enhance bone healing in complicated fractures. This is an alternative therapy, which is mostly suggested by surgeons to speed up the healing process of fractures. In addition, availability of sophisticated and cutting-edge bone growth stimulators as well as rising public knowledge about advantages of bone growth stimulation therapy is another factor driving revenue growth of the market. Moreover, increasing expenditures in Research & Development (R&D) activities by major market players and availability of reimbursement for bone growth stimulation therapy are expected to drive market revenue growth during the forecast period. Furthermore, rising prevalence of orthopedic conditions including osteoarthritis, rising demand for non-invasive and non-pharmacological bone healing treatments,  and increasing use of bone growth stimulators in sports medicine and military medicine are also driving revenue growth of the market.

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Availability of substitutes to bone growth stimulators is one of the major factor restraining revenue growth of the market. Treatments, such as traditional physiotherapy, yoga, or Ayurveda, are frequently suggested for bone fractures that do not heal or heal slowly. In addition, chiropractic is utilized to identify and treat mechanical musculoskeletal system abnormalities.

Scope of Research

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Major Companies and Competitive Landscape

The global bone growth stimulator market is fragmented with large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global bone growth stimulator market report are:

• Isto Biologics
• Johnson and Johnson
• MEDTRONIC PLC.
• Orthofix Medical Inc.
• STRYKER CORPORATION
• Terumo Corporation
• ZIMMER BIOMET HOLDINGS
• IGEA Pharma
• Manamed Inc.
• THERAGEN ETEX CO., LTD.

Strategic Development

• On 4 May, 2022, AccelStimTM bone healing therapy Class III device has received pre-market approval from the U.S. Food and Drug Administration (FDA). For recommended acute fractures and fractures that have not healed, AccelStim device offers a secure and reliable nonsurgical treatment (nonunions). This gadget produces a Low-Intensity Pulsed Ultrasound (LIPUS) signal that stimulates bone's natural healing process to speed up the healing of fractures.
• On 18 August, 2022, Theragen, a manufacturer of medical devices, announced the receipt of a U.S. Patent for its novel method of creating ActaStim-S spine fusion bone growth stimulator system

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Some Key Highlights from the Report

• The bone growth stimulation devices segment is expected to register a steadily fast revenue growth rate over the forecast period. Demand for these devices to treat non-union fractures and spinal fusion operations is rising, which is further driving market revenue growth. In addition, increasing expenditures in R&D activities by major market players as well as availability of reimbursement for bone growth stimulation therapy is expected to drive market revenue growth during the forecast period.  Moreover, market revenue growth is also expected to drive owing to rising prevalence of orthopedic ailments including osteoarthritis and rising need for non-invasive and non-pharmacological bone healing treatments.
• The spinal fusion surgeries segment is expected to account for a significant revenue share over the forecast period.  This is due to rising prevalence of spinal illnesses and expanding use of minimally invasive surgical techniques. In addition, increasing frequency of persistent low back pain and degenerative spinal disorders rising and demand for spinal fusion surgeries are also driving market revenue growth.
• The North America market is expected to register a significantly fast revenue growth rate during the forecast period.  This is due to aging population, increasing osteoporosis cases, and rising use of minimally invasive surgical techniques. Use of these devices to treat non-union fractures and spinal fusion operations is increasing, which is further driving market revenue growth in this region.
• On 20 December, 2022, Essent Biologics, a major provider of human-derived cell and scaffold materials,  introduced its novel Micronized Bone Matrix (MBM) for use in 3D bioprinting and tissue engineering. Essent Biologics will offer a mineralized allograft bone matrix, which includes native proteins such as collagen type I, as well as native elements and minerals including calcium and phosphorus, using pulverized cortical bone from humans.

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Emergen Research has segmented the global bone growth stimulator market based on modality, application, and region:

• Modality Outlook (Revenue, USD Billion; 2019-2032)

• • Bone Growth Stimulation Devices
  • Bone Morphogenetic Proteins
  • Platelet-Rich Plasma

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Spinal Fusion Surgeries
  • Delayed Union and Nonunion Bone Fractures
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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