Bone Growth Stimulators Market Analysis

Bone Growth Stimulators Market Analysis

Based on type, the bone growth stimulators market is segmented into bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma therapy. The bone growth stimulation devices segment exceeded USD 437 million in 2021. This significant market share is primarily attributed to growing awareness in patients related to procedural assistance delivered by bone growth stimulation devices, growing technological advancements, etc.
 

The bone growth stimulation devices find wide applications in spinal fusion surgeries, non-union bone fractures, and maxillofacial surgeries among others. Surging technological advancements in these devices are stimulating the product adoption rate positively. These advancements in external & ultrasonic bone growth stimulators for accelerating the healing of indicated bone and several other breakthroughs have surged the procedure result and success rate.
 

Market players are focusing on research and development activities for developing innovative bone growth stimulation devices. For instance, Bioventus has introduced novel features in its Exogen bone healing system that enables the stimulation of the body’s natural healing process and reduces the risk of infection & complication. Thus, the above-mentioned variables are projected to significantly influence the industry landscape over the analysis period.
 

Based on application, the bone growth stimulators market is segmented as spinal fusion surgeries, delayed union & nonunion bone fractures, oral and maxillofacial surgeries, and others. The spinal fusion surgeries segment is expected to witness significant growth and reach more than USD 461 million by 2028. This dominant business share is owing to the growing adoption rate of minimally invasive spinal surgeries, rising incidences of obesity & degenerative spinal conditions, etc.
 

As per the National Spinal Cord Injury Statistical Center (NSCISC), the annual incidence of spinal cord injury (SCI) is around 54 cases per 1 million individuals in the U.S. According to the National Center for Biotechnology Information article published in 2021, between 250,000 - 500,000 patients suffer from a spinal cord injury each year worldwide. These statistics are expected to boost the segmental revenue significantly.
 

Further, the growing prevalence of such spinal conditions has led to a rise in surgical procedures, thereby augmenting the demand for minimally invasive treatment integrating the use of bone growth stimulators. The implementation of these product & services for spinal fusion surgeries offers better patient compliance as well as aids in delivering optimal outcomes. Thus, a host of capabilities possessed by bone growth stimulators is projected to augment the use of these product & services in spinal fusion surgeries, thereby driving the business scenario.
 

Based on end-use, the bone growth stimulators market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment is poised to reach more than USD 743 million by 2028. This high market share is majorly attributed to the growing patient preference of hospitals for quality care and affordability. The availability of a broad range of orthopedic treatments incorporating advanced bone growth stimulators caters to the patient population is also contributing to the market expansion.
 

Hospitals are also emphasizing delivering different comprehensive programs with personalized and professional support in target disease management. Similarly, the growing adoption and launch of user-friendly and cost-effective bone growth stimulators for use in hospitals are the significant variables propelling the product demand.
 

Ongoing enhancements in hospital facilities comprising easy accessibility to board-certified surgeons and transparency about the quality of care are augmenting the segmental growth. As a result, the above-mentioned factors are expected to fuel the bone growth stimulators market revenue during the analysis timeframe.
 

U.S. bone growth stimulators market is anticipated to reach over USD 501 million by 2028. This majority market share is mainly attributed to numerous factors including high acceptance of advanced bone growth stimulators devices, rise in the incidence of bone diseases, and the presence of key manufacturers in the country among others. The high incidence of joint ailments such as osteoporosis, arthritis, and rheumatoid arthritis among others in the U.S. is set to prove conducive for the market growth.
 

As per the Centers for Disease Control and Prevention (CDC), in 2017–2018, the age-adjusted prevalence of osteoporosis was 12.6% among people aged 50 years and above in the U.S. These statistics are anticipated to fuel the adoption rate of bone growth stimulators in the country. Additionally, the prominent market players including Medtronic, Zimmer Biomet, and DJO Global is focusing to introduce novel products to deliver optimal operability for practitioners are expected to propel the reginal market statistics.