Ottawa, Aug. 29, 2022 (GLOBE NEWSWIRE) -- The global bone growth stimulators market size was valued at USD 1.95 billion in 2021. By administering electrical or ultrasonic current to the fracture/fusion site, bone growth stimulation is used to stimulate bone healing in fractures or fusions that are difficult to heal. An instrument called an electrical osteogenesis stimulator delivers electrical stimulation to speed up bone healing.
Many orthopedists advise using this technology to encourage quicker bone repair. In order to stimulate bone development, stimulators deliver painless electrical or ultrasonic stimulation. It operates by producing either pulsed ultrasonic energy or a low-level pulsed electromagnetic field. The idea is that by assisting the body in tissue healing and promoting cell creation and maturity, these energy fields drive bone growth, increasing bone density.
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Regional Snapshots
North America held dominant position and predicted to be in the dominating state during forecast period. The significant market share of North America can be ascribed to the region's highly developed healthcare infrastructure and reimbursement system as well as the rising awareness among physicians and patients of the most recent treatments and technologies available today.
Further propelling the growth of the North American bone growth stimulator market are the rising prevalence of spinal disorders, growing geriatric population, rising population exposure to major risk factors such as obesity, smoking, and diabetes, and rising patient preference for minimally invasive orthopedic therapies.
Key Insights:
- North America bone growth stimulators market was reached at USD 0.86 billion in 2021.
- Asia-Pacific is growing at a CAGR of 6.8% between 2022 to 2030.
- By product, the bone growth stimulation devices segment contributed 52.4% market share in 2021.
- By application, the spinal fusion surgeries segment has garnered 47% revenue share in 2021.
- North America region has generated 41.5% market share in 2021.
Report Highlights
- On the basis of product type, the bone growth stimulation devices segment is the leading segment and is expected to make the largest contribution to the bone growth stimulators market. This can be ascribed to the rising occurrence of nonunion fractures, the rising geriatric population, and the rising preference for nonsurgical treatment options. In addition, after surgery or trauma, bone regeneration can be slowed down or prevented by a number of variables, including obesity, smoking, and diabetes. The prevalence of these risk factors is increasing, which will support the market expansion for bone growth stimulators.
- On the basis of application, the highest CAGR is projected for the spinal fusion segment during the forecasted period. Spinal fusion procedures are performed to permanently join two or more vertebrae and stop motion between them. Products that promote bone growth are used before, during, and after operations to promote the natural process of bone formation. The ageing population, the rise in spine surgeries, the safety and effectiveness of stimulators in fusion surgery, and the rising use of bone growth stimulation devices are all factors contributing to the growth of this market.
- On the basis of end-user, hospitals to be in dominant position in bone growth stimulators market during forecast period. Hospital facilities host a large number of patient visits and numerous orthopedic treatments, which accounts for the dominance. The enormous number of hospitals worldwide, in both developed and underdeveloped countries. The reason for the segment's dominance is that government hospitals are essential for providing subsidized care in many areas, particularly in emerging markets.
Recent Developments
- Bioness, Inc. was purchased, as per Bloventus LLC. Through this acquisition, Bioventus LLC will be able to diversify the products it offers for bone development therapy.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 1.95 Billion |
| Revenue Forecast by 2030 | USD 3.8 Billion |
| CAGR | 7.69% from 2022 to 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Orthofix Medical, Inc., DJO Finance, LLC, BTT Health GmbH, Stimulate Health Inc, Zimmer Biomet, Elizur Corporation., Kinex Medical Company, LLC, Fintek Bio-Electric Inc., Bioventus LLC, Medtronic plc, Stryker (US), and Others. |
Market Dynamics
Drivers
One of the key drivers of the use of such stimulators and, consequently, the growth of the market, is the rising incidence of bone diseases across the globe. One of the main causes of fractures worldwide is osteoporosis. More than 8.9 million fractures are thought to be caused by the illness each year, which affects 75 million individuals in the U.S., Europe, and Japan. Additionally, the rapid development of technologically sophisticated products for effective treatment together with the rising prevalence of such disorders would promote market expansion. Additionally, the rise in oral and maxillofacial operations worldwide will help the market's expansion. Humans always start growing bone, therefore when a bone is broken, the body has a remarkable capacity to heal the fracture on its own. With the right care, which may involve realignment, casts, and surgery, the majority of patients who break a bone will recover. But because bones are formed of living tissue, a fatigue crack causes two shattered ends to break, one of which is positively charged and the other negatively charged. It is possible to implant the stimulator either above or below the skin.
Due to the benefits that these procedures provide over conventional treatment methods, the demand for minimally invasive procedures has increased significantly. Fewer postoperative complications, a shorter hospital stay, less pain, smaller and more cosmetic incisions, a lower risk of infection, less postoperative care, and a speedier recovery time are the main benefits of minimally invasive operations. Modern technology is used in minimally invasive procedures to identify and treat diseases like cancer. These operations are a successful method for removing lymph nodes and cancerous tumors without leaving scars.
Restraints
One of the key elements influencing the acceptance and demand of particular diagnostic or therapeutic items among patients and healthcare professionals at a national level is medical reimbursement. In developed nations, the majority of healthcare insurance companies cover products that stimulate bone formation if certain conditions are met. Australia's Transport Accident Commission (TAC) offers payment for implantable or externally applied bone growth stimulation devices in the event that a transport accident results in injuries. However, a lot of private insurance companies do not offer coverage or reimbursement for procedures that stimulate bone formation. These factors are restraining the growth of the bone growth stimulators market.
Opportunities
The market for bone growth stimulators is predicted to have significant growth potential in emerging economies. The demand for bone growth stimulation products in these nations is anticipated to increase as a result of factors including the presence of a sizable patient population, rising healthcare spending, government initiatives to support the healthcare industry, and growing awareness among doctors, surgeons, and patients about the most recent treatment options for spinal fusion and bone healing. Additionally, it has been stated that many patients from established markets migrate to these developing nations for medical care due to the huge cost advantages. The cost of treatment in developing nations are less than the most developed nations hence, the rising economies regions are expected to host more patients.
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Challenges
Bone morphogenetic proteins have a few negative effects, despite being utilized more frequently in spinal fusion and bone repair. The main adverse consequences of BMPs following spinal fusion surgery include implant dislodgment, tissue inflammation, and male infertility. According to reports, BMPs activate oncogenes and trigger antigenic responses during bone repair. During the use of its BMP product in spinal fusion procedures for bone repair, Medtronic identified a number of clinical problems related to it.
Market Segmentation
By Product
- Bone Growth Stimulation Devices
- Electrical Bone Growth Stimulators
- Capacitive Coupling (CC) Devices
- Combined Magnetic Field Devices (CMF)
- Pulsed Electromagnetic Field Devices (PEMF)
- Implantable Bone Growth Stimulators
- Ultrasonic Bone Growth Stimulators
- Bone Morphogenetic Proteins
- Platelet-Derived Growth Factor
By Application
- Spinal Fusion
- Maxillofacial & Dental
- Non-union & union bone fractures
- Others
By End User
- Hospitals
- Homecare
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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