Bone Growth Stimulator Market Size & Share, by Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), Platelet-Rich Plasma); Application (Delayed Union & Non-union Bone Fractures, Spinal Fusion Surgeries, Oral & Maxillofacial Surgeries); End-user (Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Home Care) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4601
  • Published Date: Feb 27, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Bone Growth Stimulator Market size is estimated to cross USD 5 Billion by the end of 2033, growing at a CAGR of 7% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of bone growth stimulator was USD 2 Billion. The growth of the market is primarily ascribed to the growing incidences of bone fractures throughout the world.  Incidents such as falls, auto accidents, or sports injuries frequently result in fractures. However, certain health issues and repeated motions such as jumping, or exercising might also increase the likelihood of getting a specific type of fracture. For instance, it was observed in a study, worldwide, approximately 180 million (94% UI 161-197) new bone fractures were reported in 2019 (a boost of 34 % since 1990).

A bone growth stimulator is an electrical stimulation treatment used to enhance bone healing in complicated fractures. It is an alternative therapy that is mostly suggested by surgeons to speed up the healing process of fractures. The bone growth stimulator is also known as an osteogenesis stimulator device and delivers a pain-free ultrasound. The notably increasing cases of road accidents and trauma that lead to severe bone fractures are boosting the growth of the global bone growth stimulator market over the forecast period. Road accidents can cause many physical, emotional, and financial predicaments for the people affected. They are often caused owing to reasons such as not following traffic rules, driving in an inebriated state, and even poor road conditions cause many accidents every year. According to World Health Organization (WHO) data, globally, around 1.3 million people die in road accidents each year.


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Bone Growth Stimulator Sector: Growth Drivers and Challenges

Growth Drivers

  • Globally Increasing Prevalence of Musculoskeletal Disorders, the function of the neuromuscular system, which consists of healthy muscles, bones, joints, and enclosing connective tissues, is referred to as musculoskeletal health. More than 150 different diseases and conditions influence the musculoskeletal system. Musculoskeletal disorders frequently coexist with other noncommunicable diseases and heighten the chance of developing other noncommunicable diseases, such as cardiovascular disease. Therefore, a boost in musculoskeletal disorders is a major factor that is driving the growth of the bone growth stimulator market. According to the data released by the World Health Organization (WHO), musculoskeletal conditions affect approximately 1.71 billion people worldwide, and they are the main cause of disability.
  • Worldwide Spike in Diabetes a lifestyle disorder, often affects the musculoskeletal integrity of the body, increasing the risks of diseases such as osteoarthritis as well. It also has an impact on how the body derives energy from food. Diabetes affects insulin production in the body, which leads to an increase in blood sugar. Diabetes causes the body to either produce insufficient insulin or utilize it improperly. When cells cease reacting to insulin or there is insufficient insulin, high levels of blood sugar remain in the body and can be harmful. For instance, diabetes affects nearly 422 million people worldwide, and it is directly responsible for 1.5 million annual mortalities.
  • Growing Prevalence of Obesity is a medical condition that raises the chance of several illnesses and conditions, including cardiovascular diseases and diabetes. A person is said to be suffering from obesity when the amount of fat in their body increases beyond a certain level. Obesity often develops from a combination of dietary and physiological variables, along with poor lifestyle choices. One of the number one causes of mortality globally; obesity can cause a lot of ill effects on the body. For instance, obesity affects more than one billion people worldwide, including 650 million adults, 340 million adolescents, and 39 million children.
  • Mounting Ratio of Arthritis With over 100 different types, arthritis is a medical term describing soreness, stiffness, and joint inflammation. It can impact a person of any gender or race, and older people are at a higher risk of developing arthritis. It has an impact on connective and surrounding tissues. The disease can severely hamper activity levels and range of motion in joints.  For instance, globally, more than 360 million individuals are suffering from arthritis.
  • Worldwide Growing Healthcare Expenditure Health and welfare are being given top priority worldwide as everyone realizes the importance of well-being post-pandemic. By the World Bank, worldwide health expenditure increased by 9.83% in 2019.

Challenges

  • Inadequate Medical Settlement Associated with Bone Stimulation Products – People who do not have insurance coverage or who face insufficient medical settlements when claiming their insurance may be unable to afford proper orthopedic care, thus limiting the growth of the market.
  • Stringent Approval Process of Government - When a medical product is approved by any government organization, it implies that it has been analyzed and found suitable for public use, and that the positives of the product outweigh any known negatives or dangers. This process can take a long time. Hence the long duration for approval and medical trials can pose to be a challenge for the global bone stimulator market.
  • Availability of Alternative Products

Bone Growth Stimulator Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

7%

Base Year Market Size (2022)

 USD 2 Billion

Forecast Year Market Size (2033)

USD 5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Bone Growth Stimulator Segmentation

Application (Delayed Union & Non-union Bone Fractures, Spinal Fusion Surgeries, Oral & Maxillofacial Surgeries)

The global bone growth stimulator market is segmented and analyzed for demand and supply by application into delayed union & non-union bone fractures, spinal fusion surgeries, and oral & maxillofacial surgeries. Amongst these segments, the spinal fusion surgeries segment is projected to garner the largest market share over the forecast period. It is backed by the staggering count of patient pools undergoing spinal fusion surgeries throughout the world.Spinal fusion is a surgical procedure to link disconnected spinal bones back together again. A substance similar to bone is inserted between the bones during the process. The bones may then be held together using plates, orthopedic braces, screws, or rods made of inert materials. Eventually, the bones fuse and become one bone to recover. For instance, every year approximately 1.70 million instrumented spinal fusion surgeries are performed in the United States.

End-user (Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Home Care)

The global bone growth stimulator market is also segmented and analyzed for demand and supply by end users into ambulatory surgical centers, hospitals, orthopedic clinics, home care, and others. Out of these segments, the hospital’s segment is projected to secure the highest share of the market by the end of 2033. This can be attributed to the fact that hospitals are better-equipped and have the right diagnostic and therapeutic devices available for the treatment of bone injuries and disorders. They also may or may not host a separate department or specialists for orthopedic cases. It was found that there were about 6,100 hospitals in the U.S. in 2022.

Our in-depth analysis of the bone growth stimulator market includes the following segments:

           By Application

  • Delayed Union & Non-Union Bone Fractures
  • Spinal Fusion Surgeries
  • Oral & Maxillofacial Surgeries

            By Product

  • Bone Growth Stimulation Devices
  • Bone Morphogenetic Proteins (BMP)
  • Platelet Rich Plasma

            By End User

  • Ambulatory Surgical Centers
  • Hospitals
  • Orthopedic Clinics
  • Home Care
  • Others

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Bone Growth Stimulator Industry - Regional Synopsis

North American Market Forecast

The North American bone growth stimulator market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the increasing stances of road accidents, the growing prevalence of several bone disorders, coupled with the surge in the demand for osteoarthritis treatment, a massive surge in orthopedic procedures performed each year, and escalating healthcare expenditure in the region. Additionally, the growing number of older people in the population is giving rise to more cases of various chronic diseases in the region. For instance, nearly 31 million individuals have osteoarthritis in the United States.

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Companies Dominating the Bone Growth Stimulator Market

top-features-companies
    • ·DJO, LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Arthrex, Inc.
    • Bioventus LLC
    • Medtronic plc
    • Regen Lab SA
    • Elizur Corporation
    • Ember Therapeutics
    • IGEA S.p.A
    • Ossatec Benelux BV
    • Smith & Nephew PLC

In the News

  • Bioventus LLC acquired Misonix, Inc., which provides minimally invasive therapeutic ultrasound technologies and regenerative medicine.

  • Arthrex, Inc. has launched the industry's first FDA-cleared SwiveLoc ACL Repair Kit for the repairing of anterior cruciate ligament (ACL) tears.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4601
  • Published Date: Feb 27, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Globally increasing prevalence of musculoskeletal disorders, worldwide spike in diabetes, and growing prevalence of obesity are some major factors driving the growth of the market.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2033.

Inadequate medical settlement associated with bone stimulation products, and stringent approval process of government are estimated to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are DJO, LLC, Arthrex, Inc., Bioventus LLC, Medtronic plc, Regen Lab SA, elizur Corporation, Ember Therapeutics, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product, application, end-user, and by region.

The spinal fusion surgeries segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Bone Growth Stimulator Market Report Scope
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