The bone growth stimulators market size is projected to be valued at USD 2.1 billion in 2023 and is expected to rise to USD 5.4 billion by 2033. The sales of bone growth stimulators are expected to grow at a significant CAGR of 10.1% during the forecast period.
Various factors propelling the demand for bone growth stimulators are:
The market for bone growth stimulators is primarily driven by elements like the rising prevalence of bone and joint problems, the increased demand for minimally invasive and non-invasive surgeries globally, and the rising geriatric population.
The best feature of a bone growth stimulator is that it speeds up the entire process of bone healing, resulting in a faster recovery, shorter hospitalization, increased cost-effectiveness, and lesser infections.
Osteoarthritis is regarded as one of the most common articular diseases among people over the age of 65.
One of the key variables thought to be most likely to increase demand for the market under study is the rising prevalence of trauma and accident cases globally.
The investments in healthcare infrastructure have given the market leaders in bone growth stimulators an opportunity to create their mark by introducing products that stand out and take over the majority of revenue share.
According to the Centers for Disease Control and Prevention, an estimated 34.6 million adults will have arthritis-related activity limitations by 2040. This has resulted in a growing preference for active and healthy lifestyles, creating a demand for faster injury-healing processes.
Additionally, ongoing product developments and advancements are expected to drive demand for bone growth stimulators in the coming years.
| Attributes | Details |
|---|---|
| Bone Growth Stimulators Market CAGR | 10.1% |
| Bone Growth Stimulators Market Valuation (2023) | USD 2.1 billion |
| Bone Growth Stimulators Market Valuation (2033) | USD 5.4 billion |
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 9.54% |
| H1,2022 Projected (P) | 9.94% |
| H1,2022 Outlook (O) | 9.74% |
| BPS Change: H1,2022 (O) - H1,2022 (P) | (-) 20 ↓ |
| BPS Change: H1,2022 (O) - H1,2021 (A) | (+) 50 ↑ |
According to FMI analysis, the market growth rate comparison analysis for the H1-2022 outlook and H1-2022 projected period showed a declining aspect of the market with the change in BPS of nearly 20 BPS.
The adoption rate of bone growth stimulator devices has decreased as a result of their high cost and physicians' lack of confidence in device efficacy. This is a key cause of the decline in the BPS value. Different units of stimulation strength, varied stimulation protocols, and inadequate device specification reporting are further contributing causes to the BPS decline.
However, the bone growth stimulators market is expected to show incremental growth in H1- 2022 when compared to H1-2021 as shown by the spike in BPS value by 20 Basis Point Share (BPS). Recent developments in the market including the innovation of products like the AccelStim bone growth stimulator which emits high-frequency sound wave (ultrasound signal) promoting bone growth and assisting in the healing of damaged bones proposes positive growth in the near future.
Market to witness an absolute dollar growth of USD 3.4 billion between comparison period
Demand is projected to increase at a healthy 10.1% CAGR between 2023 to 2033, in comparison with the 9.3% CAGR registered between 2013 to 2031, finds Future Market Insights (FMI).
Increasing preference for non-invasive and minimally invasive surgical procedures is expected to boost the market in the forthcoming years. The rising incidence of osteoporosis among the geriatric population, along with surging rates of sports-related orthopedic injuries are underpinning the demand in the market.
Osteoarthritis (OA) is one of the most common forms of arthritis. As per the statistics availed by the Centers for Disease Control and Prevention (CDC), over 32.5 million USA adults are affected by osteoarthritis each year.
The growing incidence of such disorders is compelling manufacturers to launch advanced bone growth stimulators in the market. These devices stimulate the natural healing of bones by sending low-level pulses of electromagnetic energy to the fusion or injured site.
These products are beneficial for post-multi-level fusion procedures, and for patients who have comorbidities such as diabetes and substance addiction.
Further, there has been an uptick in research and development efforts regarding novel treatment options and techniques by bone growth stimulator market players. Favorable government policies and increasing investments by commercial organizations will continue augmenting the growth of the market over the forecast period.
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Surging demand for minimally invasive procedures due to their benefits over traditional procedures is expected to push sales in the market. Key advantages of such procedures include fewer complications in operations, shorter hospitalization, reduced pain, lower risk of infections, and faster recovery.
Taking cues, manufacturers are launching innovative platelet-rich plasma (PRP) and bone morphogenetic proteins (BMP) products to aid bone formation during various fractural and spiral operations. These products help in faster healing and recovery, which is expected to boost sales in the market.
Rising incidence of trauma injuries and accident-related fractures are propelling the rates of spinal and orthopedic procedures, thereby spurring demand for bone growth stimulators for humerus fractures.
Further, capacitive coupling bone growth stimulator devices are widely being adopted with implanted biomedical systems for customized electrical stimulation. This has resulted in the popularity of electromagnetic simulation, which uses direct current coupling, capacitive coupling, and inductive coupling.
As per FMI, the growing preference for these surgeries in emerging economies such as India, China, and Brazil is expected to augment the growth in the bone growth stimulators market. Factors such as increasing expenditure on healthcare, government investments in the expansion of the healthcare sector, and growing awareness among patients and healthcare providers regarding minimally invasive surgeries are expected to boost the market in the forthcoming years.
The bone growth stimulators market in several Asia-Pacific countries is expected to grow rapidly during the forecast period, owing to an aging population, rapid economic growth in emerging Asia-Pacific (APAC) countries, and an increase in the volume of spine procedures.
In China, the increasing prevalence of cervical (neck) and lumbar (lower back) spine surgeries highlights the significance of advanced combined magnetic field (CMF) devices for bone growth stimulation therapy.
In China, healthcare professionals are recommending these devices to be worn after lumbar and cervical surgeries to help with pain relief. These devices are also used to improve spine bone fusion following fusion procedures and as a treatment for failed fusion surgeries.
| Attribute | Details |
|---|---|
| China Market Size (USD million/billion) by End of Forecast Period (2033) | USD 229.8 million |
| China Market Absolute Dollar Growth (USD million/billion) | USD 148.1 million |
| CAGR % 2017 to 2022 | 10.3% |
| CAGR % 2023 to End of Forecast (2033) | 10.8% |
At a CAGR of 11.4%, India is expected to be the fastest-growing market in the APAC region. Improvements in the country's healthcare landscape will drive growth.
Access to healthcare is a significant barrier for Indian patients, particularly those with lower incomes. The government has taken a number of steps to improve the healthcare system, including ensuring that more than 95% of the population is covered in some way.
Furthermore, government reimbursement policies favor domestically produced devices by providing high reimbursement rates.
| Attribute | Details |
|---|---|
| India Market Size (USD million/billion) by End of Forecast Period (2033) | USD 82.3 million |
| India Market Absolute Dollar Growth (USD million/billion) | USD 54.4 million |
| CAGR % 2017 to 2022 | 10.3% |
| CAGR % 2023 to End of Forecast (2033) | 11.4% |
By 2033, it is expected that the USA market for bone growth stimulators will exceed USD 2.2 billion. The high adoption of modern bone growth stimulator devices, the rise in bone illnesses, the presence of significant manufacturers in the nation, and other reasons are primarily responsible for this majority market share. The high prevalence of joint conditions like osteoporosis, arthritis, and rheumatoid arthritis among others in the United States is expected to favor market expansion.
| Attribute | Details |
|---|---|
| USA Market Size (USD million/billion) by End of Forecast Period (2033) | USD 2.2 billion |
| USA market Absolute Dollar Growth (USD million/billion) | USD 1.4 billion |
| CAGR % 2017 to 2022 | 9.9% |
| CAGR % 2023 to End of Forecast (2033) | 10.7% |
With a growing demand for minimally invasive procedures and an increase in medical tourism, the United Kingdom is predicted to dominate the European bone growth stimulators market in the years to come. In 2022, sales are anticipated to hold a 20.4% share of the global market.
Medical tourism has increased somewhat as a result of the country's availability of top-notch healthcare facilities. The anticipated continuation of this trend will increase demand for bone growth stimulators in the years to come.
Additionally, patients are actively favoring magnetic and ultrasound bone growth stimulators. To meet the expanding demand, local manufacturers have introduced efficient and cutting-edge solutions.
| Attribute | Details |
|---|---|
| United Kingdom Market Size (USD million/billion) by End of Forecast Period (2033) | USD 173.8 million |
| United Kingdom Market Absolute Dollar Growth (USD million/billion) | USD 101.2 million |
| CAGR % 2017 to 2022 | 8.7% |
| CAGR % 2023 to End of Forecast (2033) | 9.1% |
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The prevalence of bone and joint disorders is expected to drive industry growth in the coming years. The rapidly growing elderly population suffering from this disease condition has increased demand for trauma & maxillofacial surgeries, positively influencing the bone growth stimulators market growth. Joint disorders, including osteoarthritis, are among the most common diseases among people aged 65 and older.
Rapid technological advancements in these devices are positively stimulating product adoption. These advancements in external and ultrasonic bone growth stimulators for accelerating the healing of indicated bone, as well as several other breakthroughs, have increased the procedure's outcome and success rate.
| Top Application | Trauma Injury and Fractures |
|---|---|
| CAGR % 2017 to 2022 | 9.7% |
| CAGR % 2023 to End of Forecast (2033) | 10.4% |
By 2028, the hospital segment is expected to be worth more than USD 743 million. This high market share is largely due to the growing patient preference for quality care at an affordable price. The availability of a wide range of orthopedic treatments incorporating advanced bone growth stimulators to cater to the patient population is also helping to drive market growth.
Hospitals are also emphasizing the delivery of various comprehensive programs with personalized and professional support in the management of target diseases. Similarly, the increasing adoption and release of user-friendly and cost-effective bone growth stimulators for use in hospitals are important factors driving product demand.
| Top End Use | Hospitals |
|---|---|
| CAGR % 2017 to 2022 | 9.2% |
| CAGR % 2023 to End of Forecast (2033) | 10.0% |
The market for bone growth stimulators is highly consolidated and dominated by global players. With the increasing prevalence of orthopedic diseases and technological advancements, a small number of small to mid-sized companies are entering the market. Medtronic plc, Johnson and Johnson (Depuy Synthes), Bioventus LLC, Orthofix International N.V., Zimmer Biomet, and Stryker Corporation are among the market's key players. Furthermore, as product availability increases, global players' expansion strategies are proving beneficial to the emerging market.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Application, Product Type, End Use, Region |
| Key Companies Profiled | Zimmer Biomet Holdings Inc; Bioventus LLC.; DJO Global, Orthofix Holdings, Inc.; Ossatec Benelux Ltd.; IGEA; Ito Co., Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The rising prevalence of bone and joint problems increases the demand of the market.
Ossatec Benelux Ltd., IGEA, and Ito Co., Ltd. are the key market players.
An increase in the volume of spine procedures drives the Asia Pacific market.
This market is valued at USD 2.1 billion in 2023.
The United States market is projected to expand at 10.7% CAGR from 2023 to 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2023 to 2033 and Forecast, 2023 to 2033 5. Global Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Product Type 5.1. Noninvasive Electrical 5.1.1. Capacitive Coupling Devices 5.1.2. Pulsed Electromagnetic Field Devices 5.1.3. Combined Magnetic Field Devices 5.2. Invasive Electrical 5.3. Ultrasound 6. Global Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Application 6.1. Trauma Injury and Fractures 6.2. Spinal Fusion 6.3. Osteogenesis 7. Global Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By End Use 7.1. Hospitals 7.2. Ambulatory Surgical Centers 7.3. Orthopedic Clinics 7.4. Home Care 8. Global Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. Asia Pacific excluding Japan (APEJ) 8.6. Japan 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Country 13. APEJ Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Country 14. Japan Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2023 to 2033 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Zimmer Biomet Holdings Inc 18.2. Bioventus LLC. 18.3. DJO Global, Orthofix Holdings, Inc. 18.4. Ossatec Benelux Ltd. 18.5. IGEA 18.6. Ito Co., Ltd. 18.7. Isto Biologics 18.8. Medtronic PLC 18.9. Elizur Corporation 18.10. Kinex Medical Company, LLC 19. Assumptions & Acronyms Used 20. Research Methodology
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Bone Growth Stimulators Market
