Spine Bone Stimulators Market To See Record Break Revenue $724 Million By 2022 | Medtronic plc, Orchid Medical, Inc.

The emergence of non-invasive bone stimulators, like pulse electromagnetic field (PEMF) stimulators, has increased the demand of spine bone stimulators. These devices are most commonly used as they result in low complication rates.

The global Spine Bone Stimulators market was valued at $562 million in 2015, and is expected to reach $724 million by 2022, supported by a CAGR of 3.6% during the forecast period 2014-2022.

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COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

Spine bone stimulators and spinal instrumentation (plates, rods, and screws) and bone grafts are used during a spinal fusion surgery to enhance the bone's healing process. These stimulators send low-level electrical signals to the fusion site, in turn activating the body's natural bone healing process, which gets impaired in at-risk patients, preventing delayed unions or non-union of the spine fractures.

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Increase in geriatric population and rise in incidence of osteoporosis and arthritis boost the market growth. However, advent of bone growth-stimulating drugs, fixation instrumentation during fusion and non-union fractures, and high initial cost of these devices are expected to impede the market growth. Non-invasive spine bone stimulators were the highest revenue-generating segment, accounting for more than two-thirds of the spine bone stimulators market.

North America accounted for the major share of revenue in 2015, and is expected to maintain its dominance throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, registering a CAGR of 4.5%. Improvement in healthcare infrastructure and increase in expenditure in emerging markets (such as India and China) to overcome the unmet medical needs in these countries have supplemented the market growth.

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The major companies profiled Are:

Aetna, Inc., Bioventus LLC, DJO Global, Inc., elizur Corporation, IGEA S.p.A., Medtronic plc, Orchid Medical, Inc., Orthofix International N.V., Ossatec Benelux B.V., Smith & Nephew plc, Verve Consulting Inc., and Zimmer Biomet Holdings, Inc.

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