Bone Growth Stimulator Market - Industry-Specific Opportunities and Trends Affecting the Growth

MarketsandMarkets™ Research Report's View on Revenue Impact?

The global bone growth stimulator market size is projected to reach USD 1.5 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 5.8% during the forecast period

Factors Responsible for Growth and In-Depth Analysis?

Growing patient preference for non-invasive and minimally invasive surgical treatments;

The demand for minimally invasive procedures has witnessed a significant increase owing to the advantages offered by these procedures over traditional treatment procedures. The key advantages of minimally invasive procedures include fewer operative complications, shorter hospitalization, less pain, smaller and more cosmetic incisions, lower risk of infection, reduced postoperative care, and quicker recovery. Minimally invasive procedures make use of advanced technologies to diagnose and treat various diseases, including cancer. These procedures are used as an effective approach for removing cancer tumors and lymph nodes without scarring.

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Leading Key Players and Analysis:

The prominent players operating in the global market include Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US), Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India) among others.

Geographical Analysis in Detailed?

North America accounted for the largest share of the bone growth stimulators market. The large share of North America can be attributed to the highly developed healthcare infrastructure and reimbursement system in the region and growing physician and patient awareness about the newly introduced treatment procedures and technologies in the market. The rising incidence of spinal disorders, increasing geriatric population, growing population exposure to key risk factors (such as obesity, smoking, and diabetes), and rising patient preference for minimally invasive orthopedic therapies are further driving the growth of the North American bone growth stimulators market.

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Industry Segmentation:

The spinal fusion surgeries segment to witness the highest growth rate in the bone growth stimulator market, by application in 2021

Spinal fusion surgeries are conducted to connect two or more vertebrae permanently and eliminate motion between them. Bone growth stimulation products are used during or post surgeries to stimulate the natural bone growth process. The growth of this segment can be attributed to the growing geriatric population, the rising number of spine procedures, the established safety and efficacy of stimulators in fusion surgery, and the increasing use of bone growth stimulation products.

The Hospitals segment accounted for the largest share of the bone growth stimulator, by end user, in 2021

Bone growth stimulation products are used in hospitals for various applications, including spine surgeries, oral and maxillofacial surgeries, dental practices, and bone fractures. Hospitals & ASCs accounted for the largest share of the bone growth stimulators market in 2021. The advantages of bone growth stimulation products over their counterparts, the rising patient population, growing procedural volumes of spinal fusion surgeries, growing prevalence of spinal disorders, and growing awareness on bone growth stimulation products are the key factors driving the growth of the bone growth stimulators market for hospitals & ASCs.

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