Bone Growth Stimulators Market size to exceed $1.3bn by 2028

Bone Growth Stimulators Market size is set to exceed USD 1.3 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Technological advancement is set to propel the market growth during the forecast period. These advancements in electrical bone growth stimulators, bone morphogenetic proteins, and ultrasonic bone growth stimulators among others have increased the surgical procedures outcome and success rate. Market players are focusing on research and development activities for developing innovative technologies.
 

For instance, Orthofix has developed CervicalStim, a bone growth stimulation device intended for spinal fusion in patients at high risk for non-fusion. This device stimulates a low-level electrical field at the fusion site that induces bone healing at a molecular, cellular, and tissue level. Thus, the commercialization of such innovative therapies by the U.S. FDA will accelerate business growth over the coming years.
 

Surging patient preference for non-invasive and minimally invasive surgical treatment are anticipated to boost the market expansion

Surging patient preference for non-invasive and minimally invasive surgical treatment is set to propel bone growth stimulators market statistics during the forecast period. Ongoing advancements in bone growth stimulation devices and bone morphogenetic proteins have favored the evolution of orthopedic procedures that are associated with a non-invasive or minimally invasive nature in the treatment of related ailments. Effective post-surgical care, minimum surgical complications, quick recovery, and shorter stay in the healthcare settings are the variables augmenting the demand for minimally invasive surgical treatments, thereby driving the industry size worldwide.
 

Non-invasive surgical treatments are less complicated and highly affordable. This is owing to minimal to no pain or discomfort, less downtime, no incisions, stitches, or scars, etc. Factors such as the increasing number of surgical interventions for bone & joint diseases, growing awareness related to the availability of non-invasive & minimally invasive treatment alternatives, and the growing adoption of bone growth stimulators in these procedures are augmenting the market revenue. Furthermore, the increasing preference for non-invasive and minimally invasive techniques among the rapidly surging elderly geriatric population worldwide is anticipated to expand the business revenue.
 

Steadily rising rates of spinal fusion surgeries are set to spur the business expansion

Based on type, bone growth stimulators market is segmented as bone growth stimulation devices, bone morphogenetic proteins, and platelet-rich plasma therapy. The bone morphogenetic proteins (BMP) segment surpassed USD 322 million in 2021. This substantial growth is owing to multiple advantages offered using bone morphogenetic proteins such as extensive osteoinductive properties, providing a scaffold for the regeneration of bones, assisting in the regulation of bone repair, etc. Rising geriatric population susceptibility to bone and joint diseases that include degeneration of spinal vertebrae is a key factor contributing toward segmental revenue.
 

Research studies have shown that BMP is a broadly preferred treatment to ease the fusion at a rate higher than that of conventional bone graft surgery. Further, the extensive research undertaken by key business players for investigating the therapeutic potential of bone morphogenetic proteins in spinal injuries is projected to drive business landscape.
 

Browse key industry insights spread across 120 pages with 274 market data tables & 14 figures & charts from the report, “Bone Growth Stimulators Market Statistics By Type (Bone Growth Stimulation Devices {Electrical 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) Therapy), By Application (Spinal Fusion Surgeries, Delayed Union & Non-union Bone Fractures, Oral And Maxillofacial Surgeries), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/bone-growth-stimulators-market
 

Growing adoption of bone growth stimulators in delayed union & nonunion bone fractures treatment across the globe is anticipated to spur the market statistics

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 delayed union & nonunion bone fractures segment is anticipated to grow at 6.9% CAGR from 2022 to 2028. A rise in the number of road injuries is one of the factors causing bone fractures is expected to have a significant impact, boosting the segmental revenue in the near future.
 

As per the World Health Organization data published in 2021, around 1.3 million people die as a result of road traffic accidents each year globally. Further, between 20 - 50 million people suffer non-fatal injuries, with many suffering a disability as a result of their injury. These statistics are set to propel the adoption of bone growth stimulators, thereby augmenting the business outlook.
 

Additionally, some of the significant variables propelling segmental revenue are growing accessibility to novel technologies that promote the quality of bone growth stimulation devices for widespread application in the treatment of delayed union & non-union bone fractures. As a result, a number of individuals suffering from bone fractures and the availability of relatively affordable & high-quality bone growth stimulators in related treatment procedures are projected to boost the business scenario positively in the coming years. 
 

Accessibility to advanced surgical equipment and skilled surgeons will drive the industry landscape

Based on end-use, the bone growth stimulators market is segmented as hospitals, ambulatory surgical centers, and others. The ambulatory surgical centers segment is set to reach more than USD 369 million by 2028. The soaring use of novel bone growth stimulation therapies in spinal fusion surgeries and delayed union & nonunion bone fractures among ambulatory surgical centers facilities delivering rapid and reliable outcomes is projected to increase the patient preference for these healthcare facilities. The easy accessibility to a broad spectrum of surgical treatment for bone & joint disorders with proven accuracy will upsurge patient preference for ambulatory surgical centers.
 

Rising admissions of orthopedic disorders and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other factors that are increasing the growth of the segment positively. Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the market revenue. As a result, accessibility to an effective treatment coupled with the rising prevalence of orthopedic diseases and associated conditions will augment surgical procedures rate at ambulatory surgical centers, thereby propelling the segment demand.
 

Growing incidence of bone & joint diseases and the rising hospital admissions in Germany is projected to fuel the business growth

Germany bone growth stimulators market is projected to reach over USD 69 million by 2028. This high market share is owing to the high prevalence of joint diseases, the surging geriatric population, etc. As per the Institute of Orthopedic Research and Biomechanics, approximately 800,000 patients are clinically treated because of bone injuries each year in Germany. According to the American Association of Retired Persons, the population aged 65 and above is projected to grow by 41% to 24 million by 2050 in Germany. This significant disease incidence along with the rapidly growing elderly population is set to propel the adoption of bone growth stimulators, thereby stimulating regional market expansion.
 

Additionally, some of the prominent variables propelling the bone growth stimulation treatment demand in Germany are the surging availability of innovative technologies that improve the quality of orthopedic treatment procedures along with the presence of board-certified surgeons. Healthcare facilities featuring advanced bone growth stimulation devices have a competitive edge in attracting higher patient volume, thereby driving the industry revenue.
 

Players are emphasizing on strategic initiatives and innovative product launch to expand business operations

Some of the major market players operating in the bone growth stimulators industry are Zimmer biomet, Orthofix, Medtronic and DJO Global among others. These players are engaged in strategic collaborations, partnerships, and agreements to gain competitive advantage over their competitors. For instance, in February 2020, Orthofix received the FDA clearance for its STIM onTrack mobile app version 2.1 for use with the firm’s bone growth stimulators comprising PhysioStim, CervicalStim, and SpinalStim. This approval enhanced the company's overall market status in bone growth stimulation devices and extended reach to a large pool of patients.