The global bone growth stimulators market is expected to reach at US$ 2.1 billion by 2028, registering a CAGR of 5.3% from 2021 to 2028. Bone growth stimulator devices are the medical devices that boost the fracture healing process that fail to heal. They raise the natural speed of healing by giving electric shocks to patients. A bone stimulator delivers ultrasonic or pulsed electromagnetic waves to the fracture site to stimulate healing. Some bone growth stimulators available in the market include bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma. There are three types of bone growth stimulation devices, which include pulsed electromagnetic field devices, capacitive coupling devices, and combined magnetic field devices.
Bone Growth Stimulator Market Dynamics
The demand of minimal invasive procedures has seen a significant rise over traditional treatment procedures due to its advantages which include low operative complications, less hospitalization period, less pain, smaller and more cosmetic incisions, lower infection risk, and quick recovery. Medical reimbursement is the major factor which affects the adoption and demand of specific diagnostic or therapeutic products between patients and healthcare providers in a country. Growing economies like China, India, Brazil, and Mexico are expected to offer significant growth opportunities in bone growth stimulators market. Factor includes presence of large patient population, increasing healthcare cost, government initiatives for supporting healthcare industry, and growing awareness among doctors and patients about modern treatment options for spinal fusion and bone healing which is expected to boost the demand for bone growth stimulation products in these countries. Moreover, patients from developed countries are expected to travel to these growing markets to undergo medical treatment. The increasing use of Bone Morphogenetic proteins (BMP) in spinal fusion and bone healing have associated side effects such as tissue swelling, male infertility, and implant dislodgement. During bone healing, BMPs are reported to cause antigenic reactions and stimulation of oncogenes.
North America dominates the bone growth stimulator market due to dominance of vertebral fractures in this region. Europe is the second-largest region in terms of growth in bone growth stimulator market due to high demand for innovative therapies for chronic diseases and the local presence of leading medical device manufacturers. Asia-Pacific presents productive opportunities to the key players due to increasing road accidents, patient awareness, and the rise in number of hospitals with advanced medical facilities, and R&D development.
The bone growth stimulators market is segmented into 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 categorized into spinal fusion surgeries, delayed union & non-union bone fractures, oral & maxillofacial surgeries, and others. By distribution channel, it is divided into hospitals & clinics, home care, and others. Region wise, it is analyzed over North America (the 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 Africa, Saudi Arabia, and rest of LAMEA).
The prominent players operating in the global bone growth stimulator market include Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India) among others.
Global Bone Growth Stimulator Market Segmentation
The bone growth stimulators market is segmented into product, application, distribution channel, and region.
By Distribution Channel
Rest of World (ROW)
The major key players involved in the Global Bone Growth Simulator Market are: