Bone Growth Stimulators Market Size By Product (Bone Growth Stimulation Devices {External Bone Growth Stimulators [Combined Magnetic Field Devices, Capacitive Coupling Devices, Pulsed Electromagnetic Field Devices], Implanted Bone Growth Stimulators, Ultrasonic Bone Growth Stimulators}, Bone Morphogenetic Proteins, Platelet-Rich Plasma), By End-use (Hospitals, Ambulatory Surgical Centers), By Application (Spinal Fusion Surgeries, Delayed Union & Non-union Bone Fractures, Oral And Maxillofacial Surgeries), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jul 2019  |  Report ID: GMI1904  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 200   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Bone Growth Stimulators Market size was valued at USD 861.1 million in 2018 and is expected to witness more than 5% CAGR from 2019 to 2025.
 

U.S. external bone growth stimulators market, 2018 & 2025 (USD Million & Thousand Units)

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Increasing accidental injuries and trauma is resulting in higher number of fractures, that will augment the bone growth stimulators market during the forecast period. For instance, according to the WHO, every year approximately 1.35 million fatalities occur due to a road traffic crash. Also, around 20 to 50 million more people suffer non-fatal injuries out of which many incur a disability. Such factors will boost the demand for the market in the future.
 

Rising cases of clinical conditions such as arthritis and osteoporosis will drive the market growth. The vulnerability to fractures increases with age, thus the growing geriatric population will also contribute for the growth of global bone growth stimulators market. Demographic trends such as increasing average age and global average life expectancy will also impact on the overall growth of the market. Diabetes mellitus hampers the natural healing process of body. Growing cases of diabetes along with other medical conditions such as vascular disease, renal disorders and obesity will boost the market over the forecast timeframe.
 

However, various number of product recalls will hamper the market growth. Additionally, issues related to reimbursement for bone growth stimulators will restrict the market growth. For instance, stress fractures, immediate post-operative treatments, failed arthrodesis and treatment of fresh fractures are not covered during stimulation therapy.
 

Bone Growth Stimulators Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 861.1 Million (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 5% 2025 Value Projection: 1.2 Billion (USD)
Pages: 200 Tables, Charts & Figures: 362
Geographies covered (16): U.S., Canada, Germany, France, UK, Spain, Italy, China, India, Japan, Australia, Singapore, Brazil, Mexico, South Africa, Saudi Arabia
Segments covered: Product, End-use, Application and Region
Companies covered (9): Medtronic, Stryker, DePuy Synthes Companies, Arthrex, Inc., TERUMO, Orthofix International N.V, Zimmer Biomet Holdings Inc., Bioventus LLC, Synergy Orthopedics
Growth Drivers:
  • Growing cases of bone-related disorders
  • Increasing number of accidents and trauma
  • Rising geriatric population
Pitfalls & Challenges:
  • Product recalls
  • Issues with reimbursement policies

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Bone Growth Stimulators Market, By Application

Germany bone growth stimulators market share, by application, 2018
Germany bone growth stimulators market share, by application, 2018

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The use of bone growth stimulators for treatment of delayed union and non-union bone fractures is expected to dominate across the forecast period with a share of 45.5% in 2018. Bone growth stimulators will witness significant growth as it offers number of advantages over conventional therapies. These devices considerably minimize the hospital stay for non-union fractures, significantly improving overall healing and requiring no invasive treatments. Minimal risk of infection associated with the therapy will further propel the demand. Various technological advancements will boost the adoption of bone growth stimulators, thus leading to high market growth in the future.
 

Usage of bone growth stimulators for spinal fusion surgeries is expected to show significant growth of 6.0% from 2019 to 2025. The growth of spinal fusion surgeries segment is attributed to increasing cases of spinal injuries including herniated disc injuries, fractures and spinal stenosis. These factors will augment the segmental growth of spinal fusion surgeries in the foreseeable future. For instance, around 250,000 - 500,000 people end up suffering from spinal cord injuries annually due to violence, road accidents and falls.
 

Bone Growth Stimulators Market, By Product

Bone growth stimulation devices contributed for the largest share of 50.4% in 2018 due to increase in demand for effective and efficient treatment by patients all over the globe. Bone growth stimulation devices market is further segmented into external bone growth stimulators, implanted bone growth stimulators and ultrasonic bone growth stimulators. External bone growth stimulator device contributed for the largest share in the global bone growth stimulation devices market due to its portability, ease of use and low price.
 

The bone morphogenetic proteins segment is expected to show substantial growth over the forecast period due to growing cases of spinal injuries, arthritis and accidents. According to the CDC, more than 20% adults in the U.S. have some form of arthritis, lupus, rheumatoid arthritis, fibromyalgia or gout. Abovementioned factors will augment the segmental growth.
 

Bone Growth Stimulators Market, By End-use

Bone growth stimulators witnessed highest demand from hospitals resulting in major market share in 2018. The hospitals segment accounted for USD 406.6 million revenue in the year 2018. A substantial proportion of orthopedic procedures happen in hospital settings with the budget of hospitals being higher than other healthcare settings, thus, hospitals have the highest share in global bone growth stimulator market. During the forecast period, the hospitals end-use market segment will continue to remain the largest market, due to increasing number of patient footfall in hospital settings coupled with higher number of medical professionals employed by hospitals.
 

Ambulatory surgical centers held significant industry share in 2018 and is forecasted to expand at a healthy CAGR of 7.0% over the forecast period. Ambulatory surgical centers are the most preferred setting in developed as well as developing countries. Others segment includes private clinics and other similar establishments run by single or a group of doctors. This segment has lowest market share as budget is lower as compared to hospitals and ambulatory surgical centers.
 

Bone Growth Stimulators Market, By Region

Europe bone growth stimulators market share, by country, 2025 (USD Million)
Europe bone growth stimulators market share, by country, 2025 (USD Million)

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The U.S. bone growth stimulators market size is forecasted to reach USD 388.8 million by 2025. The country dominated the global bone growth stimulator market in 2018 due to rising prevalence of osteoporosis in the country, huge number of skilled professionals, high adoption rate of advanced technology, presence of highly developed healthcare infrastructure and the presence of dominant market players. Also, the high healthcare expenditure in the US will boost the market growth.
 

India is expected to show lucrative growth of 9.2% in the bone growth stimulator market over the forecast period owing to rising geriatric population, high rate of road accidents, rising disposable incomes, and increasing developments in healthcare technologies. The above-mentioned factors will boost the demand for bone growth stimulators. Also, large number of patients suffering from arthritis will impact the market growth in India.
 

Competitive Market Share

Few of the notable industry players operating in global bone growth stimulators market share Medtronic, Stryker, DePuy Synthes Companies, Arthrex, Inc., Bioventus LLC, TERUMO, Orthofix International N.V, Zimmer Biomet Holdings Inc., Bioventus LLC, Synergy Orthopedics. These industry players implemented various strategies such as new product launch, technological innovations, collaborations, accreditations, mergers and acquisitions etc. in order to capture high revenue share in market.
 

Recent industry developments:

  • In January 2018, Bioventus successfully launched EXOGEN ultrasound bone healing system that is effective in low intensity pulsed ultrasound. The company strategy was to expand business and product portfolio that may boost the growth of the company.
  • In November 2016, Medtronic announced the launch of Medtronic Orthopedic Solution. The company strategy was to establish and expand business in orthopedic segment that will aid in growth of the company. 
     

Industry Background

The process of bone healing occurs naturally. There is a constant replacement of old bone with new bone. The body has the capability to heal the damage in case of a bone injury. However, in some cases the process of bone healing requires intervention by medical professionals. The reason can be a delayed union or a non-union of bone. The products recommended by medical professionals for these conditions include bone growth stimulators. Bone growth stimulators work by encouraging several receptors in the patient’s body to enhance the healing response, hence propelling the market growth.
 


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