The global bone growth stimulators market was valued at $1,958.8 million in 2020, and is projected to reach $3,277.2 million by 2030, registering a CAGR of 5.5% from 2021 to 2030. Bone growth stimulators are used for bone growth, which also aid in broken bone healing process. Bone growth stimulators help in production of new bone cells and work in case of all fractures. In addition, they are used for healing of long leg bones such as tibia. They are also used in surgical procedures such as spinal fusions, which are difficult to heal. Bone growth stimulators include bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma.
Rise in number of trauma and accident cases, increase in prevalence of arthritis, surge in inclination of patients toward minimally invasive & non-invasive surgical treatments, rise in geriatric population, and rapid demand and adoption of platelet-rich plasma and bone morphogenetic proteins are some factors that fuel the growth of the bone growth stimulators market. In addition, rise in cases of diabetes and other medical conditions such as obesity, vascular disease, and renal disorders, are also expected to drive the market during the forecast period. Moreover, bone growth stimulation products offer more benefits compared to traditional surgical therapies such as cost-effective and safe alternative mode to treat orthopedic diseases and bone fracture treatment. However, stringent approval process and limited medical reimbursement policies for bone stimulation products are expected to hinder the growth of the market.
The bone growth stimulators market is segmented on the basis of product, application, distribution channel, and region.By product, it is categorized into bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma.Depending on application, it is classified into spinal fusion surgeries, delayed union & nonunion bone fractures, oral & maxillofacial surgeries, and others.By distribution channel, it is divided into hospitals & clinics, home care, and others.
By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA(Brazil, South Arabia, South Africa, and LAMEA).
The key companies profiled in the report include Arthrex Inc., Colfax Corporation, Essex Woodlands Healthcare Partners, IGEA Pharma, Isto Biologics, Johnson and Johnson, ManaMed Inc., Medtronic Plc., Orthofix Medical, Inc., Stryker Corporation, Terumo Corporation, Theragen Etex Co., Ltd., and Zimmer Biomet Holdings Inc.
Rise in number of trauma and accident cases, increase in prevalence of arthritis, surge in inclination of patients toward minimally invasive & non-invasive surgical treatments, rise in geriatric population, and rapid demand and adoption of platelet-rich plasma and bone morphogenetic proteins are some factors that fuel the growth of the bone growth stimulators market. In addition, rise in cases of diabetes and other medical conditions such as obesity, vascular disease, and renal disorders, are also expected to drive the market during the forecast period. Moreover, bone growth stimulation products offer more benefits compared to traditional surgical therapies such as cost-effective and safe alternative mode to treat orthopedic diseases and bone fracture treatment. However, stringent approval process and limited medical reimbursement policies for bone stimulation products are expected to hinder the growth of the market.
The bone growth stimulators market is segmented on the basis of product, application, distribution channel, and region.By product, it is categorized into bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma.Depending on application, it is classified into spinal fusion surgeries, delayed union & nonunion bone fractures, oral & maxillofacial surgeries, and others.By distribution channel, it is divided into hospitals & clinics, home care, and others.
By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA(Brazil, South Arabia, South Africa, and LAMEA).
The key companies profiled in the report include Arthrex Inc., Colfax Corporation, Essex Woodlands Healthcare Partners, IGEA Pharma, Isto Biologics, Johnson and Johnson, ManaMed Inc., Medtronic Plc., Orthofix Medical, Inc., Stryker Corporation, Terumo Corporation, Theragen Etex Co., Ltd., and Zimmer Biomet Holdings Inc.
Key Benefits For Stakeholders
- The report provides an in-depth analysis of the global bone growth stimulators market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of the region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global bone growth stimulators market growth.
Key Market Segments
By Distribution Channel
- Hospitals and Clinics
- Home Care
- Others
By Product
- Bone Growth Stimulation Devices
- Bone Morphogenetic Proteins
- Platelet-Rich Plasma
By Application
- Spinal Fusion Surgeries
- Delayed Union and Nonunion Bone Fractures
- Oral and Maxillofacial Surgeries
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Colfax Corporation (DJO Global Inc.
- Arthrex Inc.
- Essex Woodlands Healthcare Partners (Bioventus LLC)
- Isto Biologics
- JOHNSON andJOHNSON
- MEDTRONIC PLC.
- Orthofix Medical Inc.
- STRYKER CORPORATION
- Terumo Corporation
- ZIMMER BIOMET HOLDINGS
- IGEA Pharma
- Manamed Inc
- THERAGEN ETEX CO., LTD
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BONE GROWTH STIMULATORS MARKET, BY PRODUCT
CHAPTER 5: BONE GROWTH STIMULATORS MARKET, BY APPLICATION
CHAPTER 6: BONE GROWTH STIMULATORS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: BONE GROWTH STIMULATORS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Bone Growth Stimulators Market,' the bone growth stimulators market size was valued at $2.0 billion in 2020, and is estimated to reach $3.3 billion by 2030, growing at a CAGR of 5.5% from 2021 to 2030. Bone growth stimulators are used to aid natural healing process of bones. They are also known as osteogenesis stimulators, which offer pain-free ultrasound or electrical stimulation. Bone growth stimulators work by releasing either a low-level pulsed electromagnetic field or pulsed ultrasonic energy. The cost incurred in the application of minimally invasive bone growth stimulators is less as compared to traditional bone surgical treatment methods. There are different bone growth stimulator products available in the bone growth stimulators industry, which include bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma.The bone growth stimulators market analysis is expected to experience a significant growth during the bone growth stimulators market forecast period, owing to rise in incidence of fractured and accidents, rise in geriatric population, increase in inclination of patients toward minimally invasive & non-invasive surgical treatments, rise in demand for platelet-rich plasma and bone morphogenetic proteins, availability of cost effective bone growth stimulation devices, and surge in patient awareness toward bone growth stimulators. In addition, increase in prevalence of arthritis, diabetes, and other medical conditions such as obesity, vascular disease, and renal disorders; and procedural benefits provided by bone growth stimulation devices in bone fracture treatment and orthopedic diseases boost the bone growth stimulators market growth. Moreover, the increase in demand for bone growth stimulator, surge the growth of bone growth stimulators industry, and propel the market. However, stringent approval process and limited medical reimbursement policies for bone stimulation products are expected to hinder the growth of the market.
The Bone Growth Stimulators market is segmented on the basis of product, application, distribution channel, and region.
By product, the bone growth stimulation devices segments was the major revenue contributor in 2020, and is projected to grow significantly during the forecast period. The key factors that drive the market growth are rise in demand for bone growth stimulation devices, rise in geriatric population, increase in incidence of spinal deformities, technological advancements, development in bone growth stimulation devices, and rise in number of bone and joint problems.
On the basis of application, the spinal fusion surgeries segment accounted for the majority of the market share in 2020, owing to rise in incidences of spinal disorders, adoption rate of minimally invasive spinal surgeries, rise in technological advancements in spinal surgery, increase in incidence of obesity & degenerative spinal conditions, and increase in patient preference toward spinal fusion surgery procedures across the globe.
By distribution channel, the hospitals and clinics segments was the major revenue contributor in 2020, and is projected to grow significantly during the forecast period. The key factors that drive the market growth are increasingly showing an inclination toward bone growth stimulator products.
The COVID-19 outbreak had a negative impact on the growth of the bone growth stimulators market share as most hospitals were not operating due to COVID-19 and the ongoing lockdowns in many countries. The spread of COVID-19 led to major public health issues. The outbreak of COVID-19 (SARS-CoV-2) has been spreading globally outside since January 2020 and the World Health Organization (WHO) declared it as a pandemic situation on March 11, 2020. The situation has led to a drastic reduction in hospital activities. In the early phase of the pandemic, owing to increasing cases of COVID-19, all hospitals, globally, have canceled their scheduled and elective surgeries. The outbreak of the COVID-19 pandemic had a short-term negative impact on the global bone growth stimulators market due to postponed elective surgeries, temporary closure of orthopedic clinics, ban on organized sports, and restriction in non-essential care across hospitals, and slow-down in-patient flow and referral. For instance, in March 2020, the Centers for Medicare & Medicaid Services (CMS) announced that all non-essential medical, surgical, elective surgeries and dental procedures had been postponed during the COVID-19 outbreak.
KEY FINDINGS OF STUDY
- On the basis of product, the bone growth stimulation devices segment held 51.6% share in the global market in 2020.
- By application, the spinal fusion surgeries segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
- On the basis of distribution channel, the hospitals and clinics segment exhibits the largest market share in 2020, and is expected to remain dominant throughout the forecast period.
- On the basis of region, North America is expected to experience largest market share during the forecast period. This was attributed to higher adoption of bone growth stimulator products, large presence of medical device companies, well developed healthcare infrastructure, and wide availability of bone growth stimulators drugs.
Companies Mentioned
- Colfax Corporation (DJO Global Inc.
- Arthrex Inc.
- Essex Woodlands Healthcare Partners (Bioventus LLC)
- Isto Biologics
- JOHNSON andJOHNSON
- MEDTRONIC PLC.
- Orthofix Medical Inc.
- STRYKER CORPORATION
- Terumo Corporation
- ZIMMER BIOMET HOLDINGS
- IGEA Pharma
- Manamed Inc
- THERAGEN ETEX CO., LTD
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 234 |
| Published | April 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 1958.8 million |
| Forecasted Market Value ( USD | $ 3277.2 million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
