Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Bone Growth Stimulators market.
Trusted Business Insights presents an updated and Latest Study on Bone Growth Stimulators Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Bone Growth Stimulators market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Bone Growth Stimulator Market Size, Share and Industry Analysis By Product Type (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), Platelet-Derived Growth Factor (PDGF)), By Application (Spinal Fusion, Maxillofacial & Dental, Nonunion and Union Bone Fractures), By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Home Care), and Regional Forecast 2020-2029 (Includes COVID-19 Business Impact)
The global bone growth stimulators market size was USD 1,837.2 million in 2018 and is projected to reach USD 2,624.8 million by 2026, exhibiting a CAGR of 4.6% in the forecast period.
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The cases of bone fractures and sports injuries are increasing gradually, augmenting the demand for bone growth stimulators across the globe. The bone growth stimulation devices and products have positively impacted orthopedic surgeries. The market potential of bone growth stimulators has initiated various clinical studies on bone morphogenetic proteins. Bone growth stimulators have wide application in spinal fusion, dental, maxillofacial, fracture repair, and many others.
The rising prevalence of osteoarthritis and degenerative bone diseases are also contributing to the market. Also, rapid adoption and demand for bone morphogenetic proteins and platelet-derived growth factors owing to improved healing results are also expected to boost the bone growth stimulators market growth.
“”Technological advancements in bone growth stimulation devices to fuel the global market””
As bone healing is a complex process, bone growth stimulation devices are used to promote bone healing in complex bone fractures by applying electronic or ultrasonic current to the fractured site. The introduction of bone stimulation devices has proved to be useful on the geriatric population with osteoporosis & osteoarthritis and also in the treatment of bone injuries due to sports. Thus, its effective treatment and advanced technological developments have led to the high demand for bone stimulation devices and are anticipated to grow at a higher CAGR during the forecast period.
Bone growth stimulation devices are consisting of electrical devices, implantable devices, and ultrasound devices. The segment is estimated to hold a share of 52.0% in the global market. Platelet-Derived Growth Factor (PDGF) segment is estimated to grow remarkably, owing to the increased research and pipeline candidates for application in bone stimulation.
Based on application, the bone growth stimulators market segments include spinal fusion, maxillofacial & dental, nonunion and union bone fractures, and others. The spinal fusion segment accounted for maximum market share in 2018, owing to the increased clinical evidence for the use of bone stimulation devices for spinal fusion and rise in a number of spinal fusion surgeries across the globe. Nonunion and union bone fractures segment witnesses the highest bone growth stimulation market growth due to the increased cases of sports injuries and rising trends for home care stimulation devices. Based on end-users, the market segments include hospitals, ambulatory surgical centers, specialty clinics, home care, and others.
“”New Product Approvals to drive the Bone Growth Stimulators Market in North America and Europe””
North America generated a maximum bone growth stimulation market revenue of US$ 760.2 Mn in 2018 and is estimated to dominate the market throughout the forecast duration. Improving health reimbursement for stimulation devices, clinical research to extend the application of the devices, and the strategic presence of major manufacturers in the U.S. are the factors responsible for the growth in North America during 2018-2026. In terms of revenues, Europe”s bone growth stimulators market growth is projected to be the second dominant region.
Furthermore, the FDA and CE approval for CervicalStim and SpinalStim bone stimulation devices is expected to fuel the growth of bone growth stimulators market in North America and Europe. Asia Pacific bone growth stimulation market is expected to register the highest CAGR during the forecast period, which is attributable to the increasing demand for orthopedic products and rising number of standalone orthopedic clinics. Latin America and Middle East & Africa markets are expected to register a rapid growth owing to adoption of bone growth stimulators and growing competitive landscape in Latin America. Increasing awareness regarding bone growth stimulators is expected to register a significant market growth in Middle East & Africa.
North America Bone Growth Stimulators Market Share, 2018
Key Market Drivers
“”Zimmer Biomet and Orthofix Holdings, Inc. to lead the Bone Growth Stimulators Market””
Zimmer Biomet and Orthofix Holdings, Inc. account for majority of the market share, mainly due to the diversified product portfolio of Zimmer Biomet and new product approvals received by Orthofix Holdings, Inc. Orthofix Holdings, Inc. received both FDA and CE approval for CervicalStim and SpinalStim bone growth stimulators, which is estimated to strengthen the company position in the bone growth stimulators industry. Other players operating in the bone growth stimulators market are Stryker, Medtronic, Bioventus, Wright Medical Group N.V., Prospec-Tany Technogene Ltd., Elizur Corporation, Ossatec Benelux BV, and IGEA S.p.a.
List of Companies Profiled
- Zimmer Biomet
- Wright Medical Group N.V.
- Orthofix Holdings, Inc.
- Prospec-Tany Technogene Ltd.
- Elizur Corporation
- Ossatec Benelux BV
- IGEA S.p.a
- Other players
Increase in a number of sports injuries, favorable health reimbursement, and emerging clinical evidence of bone stimulation has led to an increased preference for bone stimulation devices by health care professionals. Furthermore, the emergence of bone morphogenetic proteins (BMP) have revolutionized the bone stimulation techniques and have initiated research on many pipeline candidates, which will favor the market potentials of bone growth stimulators.
The report provides qualitative and quantitative insights on the bone growth stimulators industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market segments include product type, application, end user, and geography. In terms of product type, the bone growth stimulators market is segmented into bone growth stimulation devices, bone morphogenetic proteins (BMP) and platelet-derived growth factor (PDGF).
The global market is further classified into electrical bone growth stimulators (Capacitive Coupling (CC) devices, Combined Magnetic Field devices (CMF), and Pulsed Electromagnetic Field (PEMF) devices), implantable bone growth stimulators, and ultrasound bone growth stimulators.
On the basis of application, the market is categorized into spinal fusion, maxillofacial & dental, nonunion and union bone fractures, and others. The end user for bone growth stimulators products includes hospitals, ambulatory surgical centers, specialty clinics, home care, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the report on bone growth stimulators market analysis includes industry dynamics and competitive landscape. Key insights provided in the report include the number of spinal fusion surgery for key countries, overview of health reimbursement, a regulatory scenario in key countries, new product launch, pipeline analysis, key mergers and acquisition, recent industry trends, and others.
By Product Type
- Bone Growth Stimulation Devices
- Electrical Bone Growth Stimulators
- Capacitive Coupling (CC) Devices
- Combined Magnetic Field Devices (CMF)
- Pulsed Electromagnetic Field Devices (PEMF)
- Implantable Bone Growth Stimulators
- Ultrasonic Bone Growth Stimulators
- Bone Morphogenetic Proteins (BMP)
- Platelet-Derived Growth Factor (PDGF)
- Spinal Fusion
- Maxillofacial & Dental
- Nonunion and Union Bone Fractures
By End User
- Ambulatory Surgical Centers
- Specialty Clinics
- Home Care
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Key Industry Developments
In March 2018, Orthofix Holdings, Inc. announced U.S.FDA approval for its bone growth stimulator PHYSIOSTIM. It provides non-surgical treatment for patients with complex fractures.
In September 2018, Orthofix Holdings, Inc., announced U.S.FDA approval for its bone growth stimulators CERVICALSTIM and SPINALSTIM designed to promote bone healing process in post-operative spinal fusion.
Quick Read Table of Contents of this Report @ Bone Growth Stimulator Market Size, Share and Industry Analysis By Product Type (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), Platelet-Derived Growth Factor (PDGF)), By Application (Spinal Fusion, Maxillofacial & Dental, Nonunion and Union Bone Fractures), By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Home Care), and Regional Forecast 2020-2029 (Includes COVID-19 Business Impact)
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