Bone Growth Stimulators Market Size

Bone Growth Stimulators Market Size

Bone Growth Stimulators Market size exceeded USD 875 million in 2021 and is estimated to register over 6.8% CAGR between 2022 and 2028. The increasing awareness regarding the availability of innovative bone growth stimulation treatment procedures among patient with bone and joint disorders is contributing to the overall market revenue.

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In high-income nations, orthopedic diseases have long been the leading cause of death and disability. As American Bone Health (ABH) recognizes these disease conditions to be of primary importance, various government and non-government bodies are coming forth with awareness programs.

For instance, the International Osteoporosis Foundation (IOF) is actively operating to improve the awareness related to effective diagnosis and treatment of osteoporosis and related musculoskeletal diseases. Thus, supportive initiatives for driving awareness regarding these disease conditions are further expected to render significant impact, driving the bone growth stimulators industry growth.

Bone growth stimulators are intended to enhance the growth of bone tissue or fracture healing process in the condition of delay or failure. These devices are either external or surgically implanted into the area of the affected bone. It is a form of treatment that is used to boost the healing of nonunion fractures that refers to a bone fracture. These products comprise bone growth stimulation devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). It provides medical professionals with a powerful tool in spinal fusion surgeries and other related procedures.

However, the high treatment cost associated with the bone morphogenetic proteins (BMP) is amongst the major factors hampering the bone growth stimulators market growth. The high cost of these treatment options hinders their adoption rate, especially in emerging markets.

For instance, as per the article published by the Journal of Neurosurgery, in 2019, the direct cost of bone morphogenetic proteins was USD 10,444. In low-middle income countries, such a high treatment cost of bone morphogenetic protein prohibits most of the practitioners from opting for the treatment. In the short run, this cost will be a major factor restricting bone growth stimulators industry expansion. However, in the long run, it will not have a very significant impact as the manufacturers innovate to make their products increasingly affordable.
 

The COVID-19 outbreak arose as an unparalleled health concern affecting the global industrial sectors, including the healthcare services and medical practices. The COVID-19 pandemic drastically promoted the disease burden and bundled the healthcare systems with a high influx of coronavirus infected patients, thereby hampering other medical services.
 

The modified standard operating protocols revised by the regulatory authorities, integrating social distancing norms have hampered the daily operations of many healthcare services, including bone growth stimulation treatment procedures. These developments led to suspension or postponing of the routine care by the majority of the healthcare facilities and only catering to the emergency requirements. For instance, certain orthopedic societies published recommendations regarding postponing elective orthopedic procedures, further negatively impacting the market revenue in early 2020.
 

Although, the COVID-19 pandemic fuelled the need for these products in home care settings. Technological developments and the incorporation of telemedicine in these treatments has increased treatment compliance and promoted the acceptance of bone growth stimulators positively. Also, among COVID-19 infected patients, joint diseases comprising rheumatoid arthritis were related to increased risk of infection and hospitalization owing to the iatrogenic effect of immunosuppressive agents comprising corticosteroids.
 

Thus, the postponed & delayed appointments along with the hampered practice of bone growth stimulation negatively impacted the industry demand in the initial phase of 2020; however, effective implementation of strategies to minimize associated risks of procedures among COVID-19 patients and surged demand for bone growth stimulators.