Kansas City, MO, March 06, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Bone Growth Stimulators Market By Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins, And Platelet-Rich Plasma), By Application (Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries, And Others), By Distribution Channel (Hospitals & Clinics, Home Care, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Bone Growth Stimulators Market size & share in terms of revenue was valued at USD 1.42 billion in 2022 and it is expected to surpass around USD 1.96 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.6% during the forecast period 2023 to 2030.”
What are Bone Growth Stimulators? How big is the Bone Growth Stimulators Industry?
Bone Growth Stimulators Report Coverage & Overview:
These stimulators are either surgically or externally implanted into the area of the affected bone at the time of some implantation therapies which include Implantable Cardioverter-Defibrillator (ICD) and Cardiac Resynchronization Therapy (CRT). Bone fractures can also be healed by passing ultrasound and electrical waves, and hence this non-invasive bone healing treatment method is widely applied as a substitute for bone grafts. There has been ample clinical and animal research evidence to champion the widescale use of bone growth stimulators. They are usually used by the geriatric population across the globe due to the growing prevalence of arthritis and osteoporosis in them.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
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- Zion Market Research research methodology
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Global Bone Growth Stimulators Market: Growth Dynamics
The global bone growth stimulator market is expected to surge exponentially due to an increase in age-related disorders among people across the globe. There has been significant growth in the number of cases of arthritis, osteoporosis, degenerative bone diseases, osteoarthritis, and rheumatoid arthritis among the elderly population around the world. Thus, a rise in the geriatric population and the increase in the prevalence of these issues in them drive the growth of the market.
Besides, growing cases of fractures, ankle injuries, and various other sports injuries have resulted in the increased adoption of bone growth stimulation devices and products, driving the growth of the market. These stimulators have extensive applications in dental, maxillofacial, spinal fusion, and others, apart from joint and fracture repair. Furthermore, there has been an exponential surge in the adoption of minimally invasive and non-invasive surgical procedures because of faster recovery, painless treatment, shorter hospitalization, minimal tissue scarring, fewer chances of infections, and economical procedures. These factors create ample opportunities for the growth of the market. However, the lack of proper medical reimbursement policies for bone stimulation and a strict approval process might restrict the growth of the market to an extent.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 1.42 billion |
| Projected Market Size in 2030 | USD 1.96 billion |
| CAGR Growth Rate | 5.6% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Orthofix Medical, Inc., Zimmer Biomet, DJO Finance, LLC, Stryker, Bioventus LLC, Medtronic plc, Arthrex, Inc., DePuy Synthes, Isto Biologics, Ember Therapeutics, Inc., Terumo Corporation, Altis Biologics (Pty) Ltd., Ossatec Benelux Ltd., Regen Lab SA, Elizur Corporation, ITO Co., Ltd., and BTT Health GmbH |
| Key Segment | By Product, By Application, By Distribution Channel, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Bone Growth Stimulators Market: Segmentation Analysis
The global bone growth stimulator market is segmented based on product, application, distribution channel, and region.
Based on product, the market is segmented based on bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma. The bone growth stimulation devices segment held the largest market share in 2022 and is further expected to grow rapidly at a significant CAGR during the forecast period. The major reason for the growth of this segment is an increase in the cases of spinal deformities among people, growth in the geriatric population in various countries across the globe, and persistent improvements and technological advancements in bone growth stimulation devices. However, on the other hand, the platelet-rich plasma segment is expected to cite a notable growth rate during the forecast period. The growth of this segment is due to an increase in demand for plasma therapy in numerous orthopedic therapeutic applications.
Based on application, the market is segmented based on spinal fusion surgeries, delayed union & non-union bone fractures, oral & maxillofacial surgeries, and others. The spinal fusion segment held the largest market share in 2022 and is expected to occupy a dominant status and simultaneously grow at a remarkable CAGR during the forecast period. The major reason for the growth of this segment is the increase in the adoption of minimally invasive spinal surgeries, the rise in the cases of degenerative spinal conditions among people, growing incidences of obesity, and the surge in the popularity of spinal fusion surgery procedures in various countries around the world.
Based on region, the North American region held the largest market share in 2022 and is further predicted to grow notably at a dominant CAGR during the forecast period. The major reason for the growth of the market in this region is the immense presence of technologically advanced bone growth stimulators, the massive presence of medical device companies, the availability of advanced healthcare infrastructures, and the rise in geriatric population in the region further drives the growth of the market during the forecast period.
The global Bone Growth Stimulators market is segmented as follows:
By Product
- Bone Growth Stimulation Devices
- Bone Morphogenetic Proteins
- Platelet-Rich Plasma
By Application
- Spinal Fusion Surgeries
- Delayed Union & Nonunion Bone Fractures
- Oral & Maxillofacial Surgeries
- Others
By Distribution Channel
- Hospitals & Clinics
- Home Care
- Others
Browse the full “Bone Growth Stimulators Market By Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins, And Platelet-Rich Plasma), By Application (Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries, And Others), By Distribution Channel (Hospitals & Clinics, Home Care, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/bone-growth-stimulators-market
Competitive Landscape
Some of the main competitors dominating the global Bone Growth Stimulators market include -
- Orthofix Medical Inc.
- Zimmer Biomet
- DJO Finance LLC
- Stryker
- Bioventus LLC
- Medtronic plc
- Arthrex Inc.
- DePuy Synthes
- Isto Biologics
- Ember Therapeutics Inc.
- Terumo Corporation
- Altis Biologics (Pty) Ltd.
- Ossatec Benelux Ltd.
- Regen Lab SA
- Elizur Corporation
- ITO Co. Ltd.
- BTT Health GmbH
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Bone Growth Stimulators market is likely to expand at a CAGR of around 5.6% during the forecast period (2023-2030).
- In terms of revenue, the Bone Growth Stimulators market size was valued at around US$ 1.42 billion in 2022 and is projected to reach US$ 1.96 billion by 2030.
- Bone growth stimulators are increasingly used to ameliorate the bone’s healing process and enhance bone tissue growth and development in patients who have undergone bone fusion surgeries. It is a form of treatment that is used to treat failure or delayed union or non-union fractures, spinal fusion, or ankle fusion.
- Based on product, the bone growth stimulation devices segment held the dominating market share in 2022.
- Based on application, the spinal fusion surgeries segment held the largest market share in 2022.
- Based on region, the North American region held the dominating market share in 2022.
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Key questions answered in this report:
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product, By Application, By Distribution Channel, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The market for bone growth stimulators in North America accounts for the largest share on a global scale. Because of the highly established healthcare infrastructure and comprehensive medical reimbursement system in both the United States and Canada, North America holds a substantial portion of the global market.
In addition to this, rising levels of awareness among patients and doctors in the United States and Canada regarding innovative treatment strategies and technology are also contributing to the expansion of the regional market. In addition, the expanding occurrences of spinal illnesses, the growing population of elderly people, and the greater population health risks due to smoking, obesity, and diabetes are all factors that are boosting the expansion of the market. In addition, an increasing number of patients are choosing non-invasive orthopedic therapies, which is supporting the expansion of the market for bone growth stimulators in North America.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
In April 2021, Orthofix signed an exclusive licensing deal with IGEA to sell the company's breakthrough soft tissue, cartilage, and bone stimulation solutions in the United States and Canada.
In November 2020, Wright Medical was purchased by Stryker for USD 5.4 billion. Stryker's position in the orthopedics device industry was reinforced as a result of the purchase.
In June 2020, DePuy Synthes and the AO Foundation extended their cooperation to promote patient care and outcomes via innovation and AO's independent worldwide education programs.
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/bone-growth-stimulators-market
FREQUENTLY ASKED QUESTIONS
- What are bone growth stimulators?
- Which key factors will influence bone growth stimulators market growth over 2023-2030?
- What will be the value of the bone growth stimulators market during 2023-2030?
- What will be the CAGR value of the global bone growth stimulators market during 2023-2030?
- Which region will contribute notably towards the bone growth stimulators market value?
- Which are the major players leveraging the bone growth stimulators market growth?
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FREQUENTLY ASKED QUESTIONS
- What are bone growth stimulators?
- Which key factors will influence bone growth stimulators market growth over 2023-2030?
- What will be the value of the bone growth stimulators market during 2023-2030?
- What will be the CAGR value of the global bone growth stimulators market during 2023-2030?
- Which region will contribute notably towards the bone growth stimulators market value?
- Which are the major players leveraging the bone growth stimulators market growth?
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