Bone Growth Stimulators Market by Product Type (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), and Platelet-Rich Plasma (PRP)), by Application (Spinal Fusion Surgeries, Delayed Union and Non-union Bone Fractures, and Oral & Maxillofacial Surgeries), and by End User (Hospitals, Clinics, Home Care, and Academic and Research Institutes)- Global Opportunity Analysis and Industry Forecast 2024-2030

Bone Growth Stimulators Market Overview

The global Bone Growth Stimulators Market size was valued at USD 1.82 billion in 2023 and is predicted to reach USD 3.21 billion by 2030 with a CAGR of 8.5% from 2024 to 2030. Bone growth stimulators industry include a range of advanced medical devices that utilize electrical stimulation, ultrasound, and electromagnetic fields to enhance the natural bone healing process. 

These bone regeneration devices are essential for treating numerous bone conditions including fractures and spinal fusions by offering non-invasive or minimally invasive solutions. They also reduce recovery time of patients, minimizing the need for additional surgeries, and improved patient outcomes.  

With ongoing advancements in orthopaedic treatment technology, the bone growth stimulators industry continues to provide innovative solutions for effective bone healing, driving improved healthcare standards. 

Market Dynamics and Trends

The rising number of elderly individuals and the growing occurrence of osteoporosis and osteoarthritis are increasing demand for bone growth stimulators. Over 200 million individuals globally suffer from osteoporosis and osteoarthritis, as reported by the International Osteoporosis Foundation and the National Library of Medicine.

As the number of patients with numerous orthopaedic conditions continue to rise worldwide, the demand for advanced treatments for bone related disorders is on the rise, which in turn drives the bone growth stimulators market growth.

Furthermore, the rising frequency of road accidents worldwide, including car and motorbike crashes, due to increasing number of vehicle and inadequate road safety measures further contributes towards the bone growth stimulators market expansion. 

According to the most recent report released by the UK government, over 1.35 million individuals lose their lives and millions more sustain severe injuries in road accidents annually. The rising number of road accidents is leading to an increased need for bone growth therapy, as medical professionals look for efficient ways to assist in healing and enhance patient results. 

Moreover, the increasing use and desire for non-invasive and minimally invasive surgical options are also fueling the expansion of the bone growth simulators market. Healthcare providers are now focusing on non-invasive and minimally invasive methods for bone healing and regeneration as patients look for treatments with shorter recovery times, less discomfort, and fewer complications.

However, the high cost of bone growth stimulation treatment is the major factor restraining the growth of the market. On the contrary, the bone growth stimulators industry is poised for growth in the near future with the incorporation of bioactive materials and 3D bioprinting technology, presenting a multitude of opportunities. 

By utilizing these advanced technologies, medical professionals can improve the effectiveness of treatments that stimulate bone growth and treat a broader range of orthopedic conditions, leading to new treatment methods and better results for patients.

Market Segmentations and Scope of the Study

The bone growth stimulators market report is segmented on the basis of product type, application, end user, region. On the basis of product type, the market is divided into bone growth stimulation devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). The bone growth stimulation devices are further divided into electrical bone growth stimulators, implanted bone growth stimulators, and ultrasonic bone growth stimulators. The electrical bone healing stimulators are further segmented into combined magnetic field (CMF) devices, capacitive coupling (CC) devices, and pulsed electromagnetic field (PEMF) devices. On the basis of application, the market is classified into spinal fusion surgeries, delayed union and non-union bone fractures, and oral & maxillofacial surgeries. On the basis of end-user, the market is divided into hospitals, clinics, home care, and academic & research institutes. Regional breakdown and analysis of each of the aforesaid segments include regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominates the bone growth simulators market share and is expected to continue its dominance during the forecast period. This is attributed to factors such as the growing prevalence of osteoporosis and osteoarthritis coupled with the increasing geriatric and obese people in this region.

According to the Centers for Disease Control and Prevention, an estimated 78 million (26%) of US adults aged 18 years or older are projected to have doctor-diagnosed arthritis by 2040. Such growth in the number of people with bone condition creates high demand for bone growth treatment in this region.

Moreover, the presence of high-quality medical care facilities along with the existence of major players such as Orthofix International N.V., Becton, Dickinson and Company, DJO Global Inc., and others play a major role in the development of the market trends. 

In April 2024, XSTIM's spinal fusion stimulator was approved by the FDA to enhance the healing process in spinal fusion surgeries. Through this launch, the company aims to provide a promising advancement in spinal surgery treatments.

On the other hand, Europe shows substantial growth in the global bone growth simulators market landscape, owing to the presence of one of the largest and highly advanced healthcare sectors in this region. 

As reported by the Government of the Germany, the country gives high emphasis on healthcare sector, with their investment for the development of the healthcare infrastructure reaching about USD 1 billion in 2023. Such huge investment in this sector drives the expansion of the market in this region.

Moreover, the increasing number of elderly people in European countries further drives the demand for orthopaedic treatments, including bone growth technology to manage the growing bone related conditions in this region. 

As per World Health Organization, in 2021, the population aged 60 and older were 215 million and it will reach 247 million by 2030 and over 300 million by 2050, expanding the bone growth stimulators market demand.

Competitive Landscape

Various players operating in the bone growth simulators industry include 3M Company, Johnson and Johnson, Orthofix International N.V., DJO Global Inc., Becton, Dickinson and Company, Zimmer Biomet Holdings Inc., Medtronic Plc, Stryker, Bioventus Inc., Arthrex, Inc., ISTO Biologics, and others. 

These key players are adopting various strategies such as product launches and acquisitions to maintain their dominance in the market. For example, in May 2022, Orthofix International N.V. announced the launch of the AccelStim bone healing therapy device that got approved by the Food and Drug Administration.

Moreover, in March 2021, Bioventus Inc. acquired Bioness Inc., a medical device manufacturing company. This acquisition was aimed to enable Bioventus LLC to expand its bone growth therapy product portfolio in North America. 

Key Benefits

• The report provides a quantitative analysis and the estimations of the bone growth stimulators market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep-dive analysis of the current and future bone growth stimulators market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and a Porter’s Five Forces model are elaborated on in the study.

• Value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

Bone Growth Stimulators Market Key Segments

By Product Type

• Bone Growth Stimulation Devices

  • Electrical Bone Growth Stimulators

    • Combined Magnetic Field (CMF) Devices

    • Capacitive Coupling (CC) Devices

    • Pulsed Electromagnetic Field (PEMF) Devices

  • Implanted Bone Growth Stimulators

  • Ultrasonic Bone Growth Stimulators

• Bone Morphogenetic Proteins (BMP)

• Platelet-Rich Plasma (PPP)

By Application

• Spinal Fusion Surgeries

• Delayed Union and Non-Union Bone Fractures

• Oral & Maxillofacial Surgeries

By End-User

• Hospitals

• Clinics

• Home Care

• Academic and Research Institutes

By Region 

• North America

  • The U.S

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France    

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand 

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

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