The Global Bone Growth Stimulator Market in terms of revenue was estimated to be worth $1.4 billion in 2022 and is poised to reach $1.8 billion by 2027, growing at a CAGR of 5.9% from 2022 to 2027.
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Market Dynamics
Market Drivers
· Growing patient preference for noninvasive and minimally invasive surgical treatments
· Increasing target patient population
· Rising number of sports and accident-related orthopedic injuries
· Rising geriatric population
Market Restraints
· Limited medical reimbursement for bone stimulation products
· High treatment costs associated with BMP and PRP products
· Limited clinical evidence to support therapeutic efficacy of bone growth stimulators
Market Opportunities
· Emerging markets
· Increasing use of PRP in other applications
· Rising number of hospitals and surgical centers
Market Challenges
· Lack of access to diagnostics
· Side effects associated with BMP-based orthopedic treatment
Key Market Players:
Orthofix, Enovis, ZimVie, Bioventus, Medtronic, Stryker, DePuy Synthes, Arthrex, Isto Biologics, Ember Therapeutics, Ossatec BeNeLux BV, Altis Biologics (Pty)Ltd., RegenLab USA, ITO Co., Ltd. (Japan), ēlizur, BTT Health GmbH, Stimulate Health Inc., VQ OrthoCare, and Kinex Medical Company, LLC
North America to hold a significant share of the bone growth stimulators market during the forecast period
The bone growth stimulators market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the bone growth stimulators market in 2021. This can be attributed to the rising incidence of spinal disorders, increasing geriatric population, and growing patient preference for minimally invasive orthopedic therapies in the region.
By Material Type
- Bone Growth Stimulation Devices
- Bone Morphogenetic Proteins
- Platelet-Rich Plasma
By Application
- Spinal Fusion Surgeries
- Delayed Union & Nonunion Bone Fractures
- Oral & Maxillofacial Surgeries
- Other Applications
By End User
- Hospitals and Ambulatory Surgical Centers
- Home Care Settings
- Academic and Research Institutes
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Recent Developments
In 2022, Orthofix Medical Inc. (US) received FDA premarket approval for the AccelStim Bone Growth Stimulation Device.
In 2021, The company announced the competition of its spinoff of ZimVie. The spinoff marks a major milestone in the active portfolio management of Zimmer Biomet.
