Global Bone Growth Stimulator Market – Industry Trends and Forecast to 2031

Bone Growth Stimulator Market Analysis and Size

The bone growth stimulator market is witnessing significant advancement, leveraging the latest methods and technologies to foster growth. Innovative devices utilizing electromagnetic fields and ultrasound are driving market expansion by offering non-invasive solutions for bone healing. With increasing awareness about the efficacy and benefits of these stimulators, the market is poised for substantial growth in the coming years.                               

The global bone growth stimulator market size was valued at USD 1.34 billion in 2023 and is projected to reach USD 2.11 billion by 2031, with a CAGR of 5.9% during the forecast period 2024 to 2031. This indicates that the market value. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

A bone growth stimulator is a medical device designed to accelerate and promote the healing of fractures or bone fusion. It emits low-level electrical or ultrasound signals, stimulating cellular activity and enhancing the body's natural healing process. By encouraging the production of bone-forming cells, it aids in faster and more robust bone regeneration. This non-invasive treatment is often used in cases of delayed or non-union fractures.            

Bone Growth Stimulator Market Dynamics

Drivers

• Increasing Incidence of Bone Disorders

The rising global incidence of bone disorders such as osteoporosis, osteoarthritis, and fractures has spurred a demand surge for treatments fostering bone healing. This demand propels the bone growth stimulator market, as patients seek effective remedies beyond conventional therapies. For instance, osteoporosis affects over 200 million people worldwide, fueling the necessity for innovative solutions such as bone growth stimulators to enhance bone regeneration and mitigate associated risks, consequently driving market growth.

• Growing Preference for Non-Invasive Treatments

The preference for non-invasive treatments is propelling the bone growth stimulator market forward. Patients and healthcare providers favor these devices as they offer a non-surgical option for accelerating bone healing. For instance, instead of opting for invasive procedures such as bone grafting, patients with fractures or non-unions can choose bone growth stimulators, promoting faster healing without the need for surgery, thus driving market growth.

Opportunities

• Rise in Sports Injuries

The surge in sports-related injuries, such as fractures and stress fractures, due to increased participation in physical activities has bolstered demand for bone growth stimulators. These devices expedite the healing process, crucial for athletes aiming for a swift recovery and return to their sport. For instance, professional athletes frequently utilize bone growth stimulators to shorten rehabilitation periods, showcasing their efficacy in addressing sports injuries and propelling market expansion.

• Rising Awareness Programs and Marketing Initiatives

Awareness campaigns and marketing initiatives by healthcare organizations and manufacturers have significantly bolstered the adoption of bone growth stimulators. Through targeted efforts, these campaigns educate both healthcare professionals and patients about the benefits of these devices in promoting bone healing. For instance, educational seminars, online webinars, and informational materials distributed by companies such as Medtronic and Orthofix have effectively highlighted the efficacy and safety of bone growth stimulators, driving market growth.

Restraints/Challenges

• Competition from Alternative Treatments

Competition from established alternatives, such as surgical interventions and traditional casting methods, hinders the penetration and adoption of bone growth stimulators. These alternatives offer familiar and trusted approaches to bone healing, creating reluctance among patients and healthcare providers to adopt newer technologies, thus impeding market growth for bone growth stimulator devices. 

• High Cost of Devices

The bone stimulator cost of devices poses a significant barrier to market accessibility, particularly in regions where healthcare expenses are predominantly out-of-pocket. This financial burden limits patient access to these treatments, impeding market growth and hindering widespread adoption of bone growth stimulator therapies. 

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In March 2021, Bioventus LLC revealed its acquisition of Bioness, Inc., aiming to broaden its offerings in development of bone growth therapy. This strategic move allows Bioventus LLC to enhance its product diversity, leveraging Bioness, Inc.'s expertise in the field
• In November 2020, DJO, LLC finalized the acquisition of OrthoLogic Corporation's bone growth stimulation device business for USD 93.0 million. This acquisition strengthens DJO, LLC's position in the bone growth stimulation market, expanding its portfolio and enhancing its capabilities in providing innovative solutions for bone health
• In February 2020, Orthofix Medical Inc. obtained US FDA approval for STIM on Track, mobile app version 2.1. This milestone empowers Orthofix Medical Inc. to advance treatment with its bone growth stimulators CervicalStim, SpinalStim, and PhysioStim, offering healthcare professionals and patients improved accessibility and monitoring capabilities
• In January 2020, Medtronic completed the acquisition of Stimgenics to enrich its portfolio in Differential Target Multiplexed Spinal Cord Stimulation Therapy. This acquisition reinforces Medtronic's commitment to innovation in chronic pain management, leveraging Stimgenics' pioneering DTM Spinal Cord Stimulation waveform delivered through the Medtronic Intellis platform, providing novel programming options for chronic pain patients

Bone Growth Stimulator Market Scope

The market is segmented on the basis of product, application, and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Bone Growth Stimulation Devices
  • External Bone Growth Stimulation
    • Ultrasonic Bone Growth Stimulators
    • Implanted Bone Growth Stimulators
• Bone Morphogenetic Proteins
• Platelet-Rich Plasma
• Others

 Application

• Spinal Fusion Surgeries
• Delayed Union and Non-union Bone Fractures
• Oral and Maxillofacial Surgeries
• Others

 End-User

• Hospitals and Clinics
• Home Care
• Academic and Research Institutes
• CROs

Bone Growth Stimulator Market Regional Analysis/Insights

The market is analysed and market size insights and trends are provided by country, product, application, and end-users as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific is expected to witness significant growth in the bone global growth stimulator market. This surge is propelled by government initiatives promoting healthcare, rising health awareness, growing demand for advanced medical technology, the large population pool, and increasing demand for quality healthcare in the region.

North America is expected to dominate the global growth stimulator market for bones, sustained by robust healthcare facilities, the presence of key industry players, exceptional infrastructure, and a substantial population afflicted with bone diseases.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.

Competitive Landscape and Bone Growth Stimulator Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Zimmer Biomet (U.S.)
• Bioventus (U.S.)
• Synergy Orthopedics (U.S.)
• Ito Co., Ltd. (Japan)
• Boston Scientific Corporation (U.S.)
• BTL (Canada)
• Enovis Corporation (U.S.)
• Medtronic (Ireland)
• NEVRO CORP (U.S.)
• Abbott (U.S.)
• ALEVA NEUROTHERAPEUTICS (Switzerland)
• NeuroPace, Inc. (U.S.)
• AxioBionics (U.S.)
• Orthofix Medical Inc. (U.S.)
• RS Medical (Japan)
• Stryker (U.S.)

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