Bone Growth Stimulators Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : May 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Bone Growth Stimulators market size is expected to be worth around US$ 11.4 billion by 2030, according to a new report by Vision Research Reports.

The global Bone Growth Stimulators market size was valued at US$ 11.0  billion in 2020 and is anticipated to grow at a CAGR of X% during forecast period 2021 to 2030.

Growth Factors

 Escalating demand for noninvasive and minimally invasive treatments is a major factor estimated to boost market growth during the forecast period. Some advantages offered by minimally invasive surgeries are smaller incisions, low risk of infections, speedy recovery, shorter stay at the hospital, reduced scarring, and minimal blood loss during surgery. Thus, there is high adoption of Bone Morphogenetic Proteins (BMP) and Platelet-rich Plasma (PRP) for minimally invasive spinal and orthopedic surgeries, which is expected to boost the market growth.

The rising number of trauma and accident cases is another major factor projected to support the growth of the bone growth stimulator market. According to WHO, around 20 to 50 million people are injured every year due to road accidents. Road accidents and trauma are likely to result in severe spinal injuries as well as delayed union or nonunion of bone fractures, which is projected to drive demand for bone growth stimulators.

Report Highlights

the external devices segment accounted for the largest share of the market owing to an increase in demand for noninvasive surgical treatments for bone healing. In addition, these devices are usually lightweight, battery-powered, portable, and easy to handle, as a result, they are being increasingly adopted by patients.

In addition, the availability of advanced products, such as CMF OL1000 Bone Growth Stimulators and CMF SpinaLogic Bone Growth Stimulators, is expected to boost market development. Moreover, external stimulator devices are less expensive as compared to invasive internal devices, which is projected to increase their adoption in developing countries such as South Africa, India, and China.

The BMP and PRP segment is expected to exhibit lucrative growth over the forecast period owing to the rising incidence of arthritis, spinal injuries, and trauma & accident cases. According to the CDC, annually, around 54.4 million adults in the U.S. had some form of rheumatoid arthritis, arthritis, lupus, gout, or fibromyalgia from 2013 to 2015. In addition, PRP has high safety, lower adverse effects, and no risk of an allergic reaction, and these factors are expected to boost the growth of the segment.

There are several leading vendors, including Medtronic; Stryker; DePuy Synthes Companies; Arthrex, Inc.; Bioventus LLC; and TERUMO BCT, INC. that provide advanced devices for treatment of spinal fusion, delayed fracture union, nonunion bone fractures, etc.

The spinal fusion surgeries segment dominated the market in terms of revenue in 2020. Increased incidence of spinal cord injuries such as fractures, spinal stenosis, and herniated disc injuries has led to increased demand for spinal fusion surgeries across the globe. According to WHO, worldwide, around 250,000 to 500,000 people suffer from spinal cord injuries annually, mainly because of road accidents, falls, and violence.

Moreover, increasing incidence of age-related spinal problems and fractures are driving the market. Aging leads to lowering of bone density and weakening of bones due to excessive loss of bone mass, and this is likely to result in fractures & spinal problems. According to the U.S. Census Bureau, around 617.1 million people were aged 65 years and older in 2015, and this number is expected to reach about 1,000.0 million by 2030. A surge in the geriatric population prone to osteoarthritis conditions is primarily driving demand for these products globally.

The delayed union and nonunion bone fracture segment is expected to grow at a significant rate during the study period. There is a high prevalence of osteoporosis that causes pain and debilitating fractures, which is expected to propel market growth. According to the International Osteoporosis Foundation, osteoporosis causes about 8.9 million fractures annually. In addition, around 1.6 million hip fractures take place globally each year, and this number is projected to reach between 4.5 and 6.3 million by 2050.

Manufacturers are focusing on the launch of new and advanced products to cater to the unmet needs of healthcare professionals and patients. For instance, in January 2017, Orthofix International N.V. announced the approval of CervicalStim and SpinalStim, bone growth stimulators used for postoperative spinal fusion, by U.S. FDA and European Commission (CE Mark). These devices deploy a low-level pulsed electromagnetic field that activates and enhances the natural healing process of the body.

Hospitals and clinics held the largest market share owing to increasing admission of patients suffering from traumatic injuries, road accidents, spinal injuries, and fractures. Thus, this segment dominated the market in 2016 owing to high patient turnaround and frequent readmissions for surgery and other treatments.

Furthermore, increasing focus on the development of healthcare infrastructure in developing countries of Asia Pacific and African regions is expected to propel the growth of the segment. Rising disposable income and the availability of advanced medical devices for the treatment of different chronic diseases are expected to boost the usage of these products in hospitals and clinics.

The homecare segment is expected to showcase lucrative growth during the forecast period due to product advancements and rising healthcare awareness among people. These devices are lightweight & portable and can be easily handled by patients at home for management of arthritis, fractures, acute & chronic pain, and osteoporosis. Thus, the availability of advanced noninvasive products is projected to drive the adoption of these home-use products.

The other end-use segment consists of research institutes and ambulatory surgical centers. This segment is projected to witness lucrative CAGR during the forecast period owing to a substantial rise in the number of spine fusion surgeries performed in ambulatory surgical centers. In addition, research institutes are actively involved in the study of BMP and PRP to improve and increase their clinical applications, which is anticipated to propel growth.

North America dominated the bone growth stimulator market with the largest revenue share owing to the high prevalence of osteoporosis or vertebral fractures. According to the American Association of Neurological Surgeons, in the U.S., 8 million women are suffering from osteoporosis and 25% of women are estimated to be affected by Vertebral Compression Fractures (VCFs). An increase in the prevalence of osteoporosis and VCFs has led to a rise in demand for bone growth stimulators used for enhanced healing, which boosts the market growth.

Europe was the second-largest market for bone growth stimulators due to the high demand for innovative therapies for chronic diseases and the local presence of leading medical device manufacturers such as Medtronic; Orthofix Holdings, Inc.; Zimmer Biomet; Bioventus; Stryker; and Terumo BCT, Inc. In addition, highly developed healthcare infrastructure primarily in Germany, Switzerland, the UK, and France is expected to drive the regional market.

Asia Pacific region is expected to exhibit the highest CAGR during the study period due to the growing number of road accidents and trauma cases. According to World Road Statistics, around 5,00,279 road accidents occurred in 2015 in India as compared to 4,93,474 in 2014, representing a 1.4% increase in the number of injuries. Thus, a large number of road accidents in India boost the demand for these products.

Key Players

Orthofix Holdings, Inc.; Medtronic; Zimmer Biomet; DJO Global, Inc; Bioventus LLC; Stryker; DePuy Synthes; Arthrex, Inc.; Isto Biologics; and Terumo BCT, Inc.

Market Segmentation

  • Product Outlook

    • Bone growth stimulation devices

      • External 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 (PRP)

  • Application Outlook

    • Spinal fusion surgeries

    • Delayed union & nonunion bone fractures

    • Oral and maxillofacial surgeries

    • Others

  • End-use Outlook 

    • Hospitals and clinics

    • Home care

    • Others

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • The U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

      • Saudi Arabia

The Bone Growth Stimulators market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Bone Growth Stimulators market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Bone Growth Stimulators market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Bone Growth Stimulators market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Bone Growth Stimulators market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Bone Growth Stimulators capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Bone Growth Stimulators by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Bone Growth Stimulators market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Bone Growth Stimulators market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Bone Growth Stimulators market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Bone Growth Stimulators industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Bone Growth Stimulators 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 Bone Growth Stimulators market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Bone Growth Stimulators market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Bone Growth Stimulators market. These factors have benefited the growth of the global market for Bone Growth Stimulators. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Bone Growth Stimulators. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Bone Growth Stimulators are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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