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Bone Growth Stimulator Market to reach over USD 1.81 billion by the year 2030

Bone Growth Stimulator Market Info

Bone Growth Stimulator Market Info

Bone Growth Stimulator Market seg

Bone Growth Stimulator Market seg

Global Bone growth stimulator market is estimated to reach over USD 1.81 billion by 2030, exhibiting a CAGR of 6.43% during the forecast period.

Major Players in the Bone Growth Stimulator Market: Arthrex, Inc., Depuy Synthes, Medtronic plc, Stryker, Terumo Corporation, Zimvie Inc. (Subsidiary of Zimmer Biomet)”
— Insightace Analytic

NEW JERSEY, NJ, USA, November 14, 2022 /EINPresswire.com/ -- InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled "Global Bone Growth Stimulator Market (By Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins And Platelet-Rich Plasma), Applications (Spinal Fusion Surgeries, Delayed Union & Non-Union Bone Fractures, And Oral And Maxillofacial Surgeries) And End-Use (Hospital & Ascs Home Care Settings, Academic & Research Institutions))- Market Outlook And Industry Analysis 2030"

The global bone growth stimulator market is estimated to reach over USD 1.81 billion by 2030, exhibiting a CAGR of 6.43% during the forecast period.

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A bone growth stimulator is a therapy that works on the potential generated by bones to help the body's natural healing process. It can be utilized as an alternative to bone surgeries to provide easy access and minimal complications during surgeries while reducing patient noncompliance. The growing number of bone fracture cases and the effectiveness of external bone growth stimulators in healing fractures are driving up demand for the products. Increased obesity, smoking, and diabetes, among other factors, are projected to promote the industry's growth during the forecast period. Furthermore, increased partnerships among competitors are expected to boost the market throughout the forecast period. The key market drivers supporting industry growth throughout the projected period include an increasing geriatric population, the incidence of orthopedic disorders, and a rising inclination for stimulation treatments. However, complications associated with using bone morphogenetic proteins (BMP) and an unfavorable reimbursement scenario related to bone growth stimulators impede market growth to some extent. Increasing trauma and accident cases worldwide will likely boost market demand. The growing incidence and impact of orthopedic illnesses have led to a rise in patients getting minimally invasive operations worldwide. As a result, bone growth stimulators are very popular.

Prominent Players in the Bone Growth Stimulator Market:
Altis Biologics (Pty) Ltd.
Arthrex, Inc.
Bioventus LLC
BTT Health GmbH
Depuy Synthes
Elizur Corporation
Ember Therapeutics, Inc.
Enovis Corporation (Formerly Colfax)
Isto Biologics
ITO Co., Ltd.
Kinex Medical Company, LLC
Medtronic plc
Orthofix Medical Inc.
Ossatec Benelux Ltd.
Regen Lab Sa
Stimulate Health
Stryker
Terumo Corporation
VQ Orthocare
Zimvie Inc. (Subsidiary of Zimmer Biomet)
Others

Market Dynamics:
Drivers-
The rising elderly population and increased fractures and accidents are driving market expansion. Furthermore, increasing regulatory approvals are expected to have helped market expansion during the abovementioned period. Another factor driving the market growth is the increasing demand for minimally invasive and non-invasive surgical treatments. Obesity, smoking, and diabetes, among other factors, will likely cause industry expansion during the forecast period. Furthermore, increased player partnerships are expected to boost the market throughout the projection period.

Challenges:
Limited medical reimbursement for bone stimulation products and high costs associated with BMP and PRP products may stymie market expansion over the projected period, while adverse effects connected with BMP-based orthopedic treatment pose further challenges. Another impediment to the industry is the increasing number of product recalls worldwide due to new product launches. However, difficulties connected with using bone morphogenetic proteins (BMP) and an unfavorable reimbursement scenario for bone growth stimulators limit the market's expansion.

Regional Trends:
The North American bone growth stimulator market is expected to hold a substantial market share during the forecast period. The region's dominance can be linked to the region's highly established healthcare infrastructure and reimbursement system. Other essential aspects boosting North America's bone growth stimulator market are the increasing prevalence of spinal problems, an aging population, and a greater risk of exposure. Besides, Asia Pacific had a substantial share in the bone growth stimulator market. Different regional established players can be linked to the region's development. Bioventus and Orthofix are projected to play a significant role in generating considerable dividends for the company. Furthermore, acquisitions among regional players are expected to drive the market throughout the projection period.
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Recent Developments:
• In February 2020, Orthofix Medical Inc. gained US FDA approval for its STIM on Track, mobile app version 2.1 to enhance treatment with its bone growth stimulators CervicalStim, SpinalStim, and PhysioStim.
• In January 2020, Medtronic bought Stimgenics to broaden its offering in Differential Target Multiplexed Spinal Cord Stimulation Therapy.

Segmentation of Bone Growth Stimulator Market-
By Product-
• Bone Growth Stimulation Devices
• Bone Morphogenetic Proteins
• Platelet-rich Plasma
By Application
• Spinal Fusion Surgeries
• Delayed Union & Non-Union Bone Fractures
• Oral & Maxillofacial Surgeries
• Other Application
By End-Use
• Hospital & ASCs
• Home Care Settings
• Academic & Research Instituties
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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Priyanka Tilekar
Insightace Analytic Pvt. Ltd.
+1 551-226-6109
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