Global Bone Growth Stimulators Market - 2024-2031

Market Overview

The Global Bone Growth Stimulators Market reached US$ 1.64 billion in 2023 and is expected to reach US$ 2.44 million by 2031, growing at a CAGR of 5.1% during the forecast period 2024-2031.

Bone growth stimulators improve the body's bone healing process in patients undergoing bone fusion surgery. These stimulators can be worn outside or used during implantation therapies such as cardiac resynchronization therapy(CRT), & implantable cardioverter defibrillators (ICD). It can heal bone fractures by applying electrical or ultrasound waves. This non-invasive bone healing treatment method is an alternative to bone grafts.

The growth of this market is driven by the increasing preference for minimally invasive treatments, rising cases of bone fractures and spinal injuries, increasing geriatric population and subsequent increase in the cases of orthopedic disease and injuries, and growing incidences of sports injuries.

In addition, the growing number of hospitals and surgical centers worldwide, increasing utilization of platelet and rich plasma (PRP) in other applications, and emerging economies offer opportunities for the growth of this market.

Market Dynamics: Drivers

Growing Demand for the Non-Invasive and Minimally Invasive Surgeries Treatments

The demand for the global bone growth stimulators market is driven by multiple factors. One of the key factors is that patients are increasingly opting for non-invasive and minimally invasive surgical treatments due to their benefits over traditional procedures, such as fewer complications, shorter hospitalization, reduced pain, lower risk of infections, and faster recovery.

Moreover, major players in the industry introduced innovative platforms and technologies that would propel this market growth. For instance, in May 2023, Orthofix Medical Inc., a prominent company specializing in spine and orthopedic solutions, declared that its STIM onTrack mobile app received an award for the "Best Patient Engagement Mobile App" from MedTech Breakthrough.

Also, in April 2023, Orthofix Medical, an eminent company in the spine and orthopedics sector, introduced two access retractor systems tailored for minimally invasive spine (MIS) procedures. The launch of the Lattus lateral access system and the Fathom pedicle-based retractor system upgrades the company's portfolio of access solutions.

Restraints

Factors such as product recalls, high cost of treatment and diagnosis, stringent approval process, limited medical reimbursement policies, adverse effects of BMP-based therapy, and limited awareness among people are expected to hamper the market.

Segment Analysis

The global bone growth stimulators market is segmented based on product, application, end-user, and region.

The spinal fusion surgeries segment accounted for approximately 55.8% of the global bone growth stimulators market share

The spinal fusion surgeries segment is expected to hold the largest market share over the forecast period. An electrical bone growth stimulator is a supplemental form of therapy for spinal fusion surgery. It may be used as an adjunct to spinal fusion surgery to help enhance the chances of achieving a successful bone fusion.

Furthermore, major key players in the industry introduce people awareness publications and device approvals help to drive this market growth. For instance, in December 2023, Orthofix Medical Inc. announced the publication of new data from a prospective, multicenter study investigating Pulsed Electromagnetic Field (PEMF) stimulation as an adjunct therapy to lumbar spinal fusion procedures in patients at risk for pseudarthrosis.

For the same source, the SpinalStim device is the only bone growth stimulation therapy system that is FDA-approved as both an adjunct treatment for lumbar spinal fusion and as a nonsurgical treatment for spinal pseudarthrosis.

Similarly, in April 2024, the Xstim received premarket approval from the US Food and Drug Administration (FDA) for its Xstim spine fusion stimulator. Xstim's spinal fusion device is a wearable non-invasive bone growth stimulation device that emits a low-energy signal that promotes bone healing in patients following spinal fusion surgery.

Geographical Analysis

North America accounted for approximately 42.4% of the global bone growth stimulators market share

North America region is expected to hold the largest market share over the forecast period. The growing incidence of orthopedic conditions, such as osteoporosis, osteoarthritis, and sports-related injuries, is expanding the target patient population for bone growth stimulators in this region.

Osteoarthritis is regarded as one of the most common articular diseases among people over the age of 65. According to the Centers for Disease Control and Prevention (CDC), an estimated 63 million Americans have arthritis, with that number expected to rise to 78 million by 2040.

In this region, major key player's presence and product approvals propel this market growth. For instance, in May 2022, Orthofix Medical Inc. (US) obtained FDA premarket approval for the AccelStim bone growth stimulation device.

This approval signifies that the device has met the necessary regulatory requirements and can now be marketed and sold in the United States. The AccelStim bone growth stimulation device is expected to offer advanced therapeutic options for promoting bone healing and treating fractures effectively.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the global bone growth stimulators market. The pandemic caused a sudden drop in elective surgeries, which is a significant contributor to the demand for bone growth stimulators.

Many orthopedic clinics were temporarily shut down or operated at reduced capacity, further reducing the demand for bone growth stimulators. The pandemic drastically promoted the disease burden and bundled the healthcare systems with a high influx of coronavirus-infected patients, thereby hampering other medical services, including bone growth stimulation treatments.

Market Segmentation

By Product

Implanted Bone Growth Stimulators

Ultrasonic Bone Growth Stimulators

External Bone Growth Stimulators (Combined Magnetic Field (CMF) Devices

Pulsed Electromagnetic Field (PEMF) Devices

Capacitive Coupling (CC) Devices)

Non-Invasive Bone Growth Stimulators

Invasive Bone Growth Stimulators

Others

By Application

Spinal Fusion Surgeries

Trauma Injury and Fractures

Osteogenesis

Oral and Maxillofacial Surgeries

Delayed Union & Nonunion Bone Fractures

Others

By End-Users

Orthopedic Clinics

Hospitals

Ambulatory Surgical Centers

Academic & Research Institutes

Home Care

Others

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Spain

Italy

Rest of Europe

South America

Brazil

Argentina

Rest of South America

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Middle East and Africa

Competitive Landscape

The major global players in the bone growth stimulators market include Zimmer Biomet, Orthofix Medical Inc., Enovis Corporation, ZimVie Inc., OssaTechnics, Kinex Medical Company, LLC, VQ OrthoCare, SIG Orthopaedic, Elizur, and IGEA S.p.A. among others.

Key Developments

In November 2023, Simulare Medical announced the launch of the Alveolar Bone Graft (ABG) simulator, the latest high-fidelity surgical item in its growing line of cleft surgery simulators.

In November 2022, DJO, LLC proclaimed the achievement of the bone growth stimulation device industry from OrthoLogic Corporation.

In August 2022, Theragen is pleased to announce the issuance of a U.S. Patent acknowledging its innovative approach to the development of the ActaStim-S Spine Fusion bone growth stimulator system.

Why Purchase the Report?

To visualize the global bone growth stimulators market segmentation based on product, application, end-user, and region, as well as understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development

Excel data sheet with numerous data points of global bone growth stimulators market level with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping is available in excel consisting of key products of all the major players.

The global bone growth stimulators market report would provide approximately 62 tables, 63 figures, and 182 Pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies