Bone Growth Stimulator Market Is Expected To Reach USD 3,208 Million by 2032, At CAGR 7.2%

Advertisement

According to Market.us, Technological advancements in bone growth stimulators and a rising adoption rate by patients and prescribers are driving the growth of the market. The increased adoption of bone growth stimulators is attributed to their enhanced efficacy and safety, making them a preferred choice among healthcare providers and patients.

New York, April 25, 2023 (GLOBE NEWSWIRE) — The global bone growth stimulators market size is expected to be worth around USD 3,208 million by 2032 from USD 1,629 million in 2022, growing at a CAGR of 7.2% during the forecast period from 2023 to 2032. Bone growth stimulation is an alternate treatment that has developed approval over the previous few years, especially for bone therapy. Bone stimulators are frequently used for fractures that fail to heal individually. The cases related to bone fractures and sports injuries are rising increasingly, expanding the requirement for bone growth stimulators worldwide.

Bone Growth Stimulator Market 1

Advertisement

Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View a PDF sample report @ https://market.us/report/bone-growth-stimulators-market/request-sample/

Key Takeaway:

  • By Product, the bone growth stimulation devices segment generated a revenue share of 54% in 2022.
  • By Indication, the spinal fusion surgeries segment registers the highest market revenue share from 2023 to 2032.
  • By End-user, the hospitals & Clinics segment has dominated the market, and it is growing at a CAGR of 38% from 2023 to 2032.
  • In 2022, North America dominated the market with the highest revenue share of 40%.
  • Europe held the fastest revenue share of 23.4% in 2022.
  • Asia-Pacific will grow at a lucrative CAGR from 2023-2032.

Bone growth stimulators have positively impacted orthopedic surgeries. In addition, increase in patient consciousness, including bone growth stimulators, technical profits by bone growth stimulation strategies in bone fracture treatment, and a rise in technological developments in bone growth stimulators.

Factors Affecting the Growth of the Bone Growth Stimulator Market

There are several factors that can affect the growth of the bone growth stimulator market. Some of these factors include:

  • Increasing prevalence of diseases: The rising prevalence of osteoarthritis and degenerative bone disease is contributing to the growth of the market.
  • Growth in Geriatric Population: Increase in the geriatric population, rise in incidences of accidents and fractures, and rise in the inclination of patients towards minimally invasive surgical treatments are the major factors that drive the market.
  • Increase in Technological Advancements: Increases in technological advancements in bone growth stimulators and an increase in the adoption rate by patients and prescribers contribute toward the growth of the market.
  • Growing prevalence of Bone Disease: The increasing prevalence of bone disease across the globe is one of the major factors supporting the use of stimulators, thus augmenting the market growth.

Top Trends in Global Bone Growth Stimulator Market

Growing inclination and acceptance of non-invasive bone growth stimulators are the newest trend witnessed over a few years. Non-invasive stimulators use ultrasonic signals, electrical fields, and magnetic to encourage osteogenesis in conjugation with spinal fusion. The device is useful for the location of a fracture for a period of time during the entire treatment process.

To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/bone-growth-stimulators-market/#inquiry

Market Growth

The increase in the geriatric population and the rise in fractures and accidents drive market growth. Additionally, an upsurge in patient awareness about bone growth stimulators and technical aids provided by bone growth stimulation devices in bone fracture treatments propels the market growth. The rising incidence of bone disease around the globe is one of the significant factors supporting the use of bone growth stimulators. In addition, the increasing number of bone fracture cases and the effectiveness of external bone growth stimulators in healing fractures fuel the market growth.

Regional Analysis

The bone growth stimulator market was dominated by North America, which acquired the most significant revenue share of 40%. The main factors assisting regional prevalence are the rising healthcare expenditures and increasing occurrence and occurrences of associated bone disorders that require the administration of bone growth stimulators. Moreover, robust procedural volumes affecting orthopedic conditions will considerably contribute to this region’s high shares.

Europe is anticipated to have a considerable market size during the forecast period. Strong and emerging companies are projected to contribute to the authority of the region combined with strong technical volumes in the region.

Asia-Pacific is expected to witness lucrative growth throughout the forecast period. Owing to the increasing occurrence of bone disease in the region. Strong potential patients coupled with under-penetration of the market is anticipated to offer lucrative growth opportunities for the bone stimulators companies to enlarge in the region and thus augment regional growth.

To know about the regional trends and drivers that will have an impact on the market – Request a sample report!

Scope of the Report

Report Attribute Details
Market Value (2022) USD 1,629 Million
Market Size (2032) USD 3,208 Million
CAGR (from 2022 to 2032) 7.2%
North America Revenue Share 40%
Europe Revenue Share 23.4%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The increasing dominance of bone disease drives product demand. Moreover, the rising diagnosis of conditions and fast development of technologically advanced products for effective treatment will further support market expansion. Also, the rising number of oral and maxillofacial surgeries worldwide will drive market growth. Rising efforts from various manufacturers to develop new and innovative technologically advanced products will significantly support industry growth. In addition, minimally invasive processes are increasingly preferred due to their benefits, such as reduced postoperative hospital stay, reduced surgical trauma, painless treatment, and greater affordability.

Market Restraints

Poor medication adherence among patients owing to high burdens restricts the market growth. In addition, limited medical reimbursement for bone growth stimulation products and high costs related to treatment hamper the market growth. While bone growth stimulators have been to be effective in some clinical studies, the evidence supporting their use is limited.

Market Opportunities

Platelet-rich plasma is also effective in treating cardiac muscle injuries and nerve injuries. For example, therapy is usually preferred during hair transplantation and plastic surgeries. The clinical applications of Platelet-rich plasma are anticipated to increase across main healthcare markets in the upcoming years. Thus, it is projected to offer lucrative growth opportunities to players offering Platelet-rich plasma products. Furthermore, platelet-rich plasma is increasingly used in numerous therapeutic areas as the first–line therapy for various orthopedic disorders, such as arthritis, chronic tendinitis, and musculoskeletal injuries. This can be primarily recognized for the practical tissue growth abilities and the advantages platelet-rich plasma therapy offers.

Immediate Delivery Available | Buy This Premium Research Report@https://market.us/purchase-report/?report_id=100183

Report Segmentation of the Bone Growth Stimulator Market

Product Insight

The bone growth stimulation devices segment dominated the bone growth stimulator market, which also held the greatest revenue share of 54%. The key factor that boosts the market growth is an increase in demand for bone growth stimulation devices, an increase in the geriatric population, a rise in the incidence of spinal deformities, and development in bone growth stimulation devices. Due to the rising focus of research to develop new non-invasive stimulating devices, there has been an increased requirement for products.

Indication Insight

The spinal fusion segment accounted for the highest market revenue share in 2022. Due to the increase in incidences of spinal cord disorders, rate of minimally invasive spinal surgeries, increase in technological advancements and degenerative spinal conditions, and rise in patient inclination concerning spinal fusion surgery processes worldwide.

End-User Insight

As the number of patients visit hospitals and clinics, the hospital and clinics category has dominated the bone growth stimulator market and held the greatest market share in 2022. The vast number of global hospitals, including in developed and emerging markets, is a major reason. In addition, government hospitals’ indispensability in subsidized care in several markets, particularly developing ones, is the cause of segments and dominance.

If you want to get a better understanding of the report, you can access a PDF sample, which includes the complete table of contents, list of exhibits, selected illustrations, and example pages @ https://market.us/report/bone-growth-stimulators-market/request-sample/

Market Segmentation

By Product Type

  • Bone Growth Stimulation Devices
  • Electrical Bone Growth Stimulators
  • Combined magnetic Field Devices
  • Capacitive Coupling Devices
  • Pulsed Electromagnetic Field Devices
  • Implanted Bone Growth Stimulators
  • Ultrasound Bone Growth Stimulators
  • Bone Morphogenetic Proteins
  • Platelet-Derived Growth Factor

By Indication

  • Spinal Fusion Surgeries
  • Delayed Union& Non-Union Bone Fractures
  • Oral and Maxillofacial Surgeries
  • Trauma Injury and Fractures
  • Ontogenesis
  • Other Indications

By End-User

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Home Care
  • Orthopedics Clinics

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

The market key players are entering into various development strategies such as acquisitions & mergers, collaborations, and partnerships to enhance their business and remain competitive in the market. Furthermore, businesses in the bone growth stimulator market are developing a new portfolio. The competitive landscape of the market has also been examined in this report. Some of the major players include

  • Medtronic plc
  • Zimmer Biomet
  • DePuy Synthes
  • Orthofix Holdings, Inc.
  • Bioventus LLC.
  • Arthrex, Inc.
  • Terumo Corporation
  • Stryker Corporation
  • Ossatech Benelux B.V.
  • BTT Health GmbH
  • Orthofix Medical, Inc.
  • Other Key Players

Recent Development of the Bone Growth Stimulator Market

  • In November 2022, DJO, LLC proclaimed the achievement of the bone growth stimulation device industry from OrthoLogic Corporation.
  • In March 2021, Bioventus LLC Pronounced the acquisition of Bioness, Inc. This achievement would allow Bioventus LLC to enlarge its bone growth therapy product selection.
  • In April 2021, Orthofix Holdings, Inc. entered an exclusive license contract to commercialize the inventive portfolio of IGEA’s cartilage, bone, and soft tissue stimulation products in North America and Canada.

Browse More Related Reports:

  • Bone Replacement Market size was valued at USD 3.02 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2032.
  • Bone Morphogenetic Protein 2 Market size is expected to be around USD 3,944.59 million by 2031 from USD 614.10 million in 2021, growing at a CAGR of 4.40%
  • Bone Graft Market were valued at USD 3,500 million in 2021. They are expected to grow at a 5.8% compound annual growth rate (CAGR).
  • Bone Conduction Headphones Market is projected to be USD 2,607.4 Mn in 2023 to reach USD 2,607.4 Mn by 2032 at a CAGR of 22.3%

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us on LinkedIn | Facebook | Twitter

Our Blog: 

CONTACT: Global Business Development Team – Market.us Market.us (Powered By Prudour Pvt. Ltd.) Email: [email protected] Address: 420 Lexington Avenue, Suite 300, New York City, NY 10170, United States Tel: +1 718 618 4351 Website: https://market.us

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.