A bone growth stimulator is a technology recommended by many orthopedists as a way to help promote faster bone healing. Stimulators provide pain-free electrical or ultrasound stimulation that promotes bone growth.
The rise in prevalence of orthopedic disease worldwide is anticipated to boost the growth of the bone growth stimulators market during the forecast period. According to the World Health Organization, degenerative joint disease disorders such as osteoarthritis are expected to affect nearly 130 million individuals across the globe by 2050. Therefore, the increasing prevalence and rising burden of orthopedic diseases have led to an increase in the patient pool undergoing minimal invasive surgeries globally, resulting in high demand for bone growth stimulators. This key fact propelling the growth of the global bone growth stimulators market in the forthcoming years.
Furthermore, other factors such as rise in old age population, increase in incidences of fracture and accidents, the surge in cases of obesity, rise in platelet-rich plasma and bone morphogenetic proteins, and availability of cost-effective bone growth stimulation devices are majorly contributing to the expansion of global bone growth stimulators market. Moreover, growing awareness regarding bone growth stimulators, rise in technological advancements in bone growth stimulators, and increase in adoption rate for bone growth stimulators by both patients and prescribers are further support to the market’s development to a great extent.
On the other hand, stringent approval processes and limited medical reimbursement policies for bone stimulation products are projected to hamper the growth of the market in the forecast period.
Covid-19 Impact on Bone Growth Stimulators Market:
In addition, the current Bone Growth Stimulators Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Bone Growth Stimulators Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Bone Growth Stimulators Market Segment Overview
Based on product, the Devices segment accounted for the largest market share in 2018. The increasing prevalence of spinal injuries, rising demand for external devices for treatment, and technological advancements in the pulsed electromagnetic field and combined magnetic field devices are expected to propel the growth of the devices segment during the forecast period. In terms of application, the spinal fusion surgeries segment accounted for a major market share in 2018. The growth of the segment can be attributed to the shift from invasive to minimally invasive spinal surgeries, expansion of product portfolio by prominent bone stimulator manufacturers, and increase in demand for bone growth therapies for spinal fusion.
Bone Growth Stimulators Market, By Product
- Devices
- External Devices
- Pulsed Electromagnetic Field Devices
- Combined Magnetic Field Devices
- Capacitive Coupling Devices
- Ultrasound Devices
- Implantable Devices
- Bone Morphogenetic Protein
- Platelet-rich Plasma (PRP)
· Spinal Fusion Surgeries
· Delayed Union & Nonunion Bone Fractures
· Oral & Maxillofacial Surgeries
· Others
Bone Growth Stimulators Market, By End User
· Hospitals & Clinics
· Academic & Research Institutes and CROs
· Home Care
Bone Growth Stimulators Regional Overview
Region-wise, North America commanded a major share of the global bone growth stimulators market. This can be mainly attributed to the huge demand for external bone growth stimulators for fracture and spinal fusion, the presence of key orthopedic device manufacturers in the U.S., and increasing awareness about external devices based on PEMF technology. Similarly, the Asia Pacific is expected to register the fastest growth during the forecast period. India and China are estimated to be lucrative markets for bone growth stimulators in the coming years, owing to the growing health care sector, increasing demand for bone growth stimulators devices, and high incidence of orthopedic disorders.
Bone Growth Stimulators Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Bone Growth Stimulators Market Competitor overview
Some key developments and strategies adopted by manufacturers in Bone Growth Stimulators are highlighted below.
· In July 2021, Orthofix Medical Inc., a global medical device company with a spine and orthopedics focus, announced the publication of retrospective data evaluating fusion rates in patients receiving three- and four-level lumbar arthrodesis surgery who were treated adjunctively with the SpinalStim™ bone growth therapy device.
Bone Growth Stimulators Market, Key Players
· Zimmer Biomet
· DJO Global
· Medtronic plc
· Terumo Corporation
· Bioventus, Inc.
· Orthofix Medical Inc.
· IGEA
· Ossatec Benelux BV
· BTT Health GmbH
· Stimulate Health
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Bone Growth Stimulators Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product
- 5.2.1. Devices
- 5.2.1.1. External Devices
- 5.2.2. Pulsed Electromagnetic Field Devices
- 5.2.3. Combined Magnetic Field Devices
- 5.2.4. Capacitive Coupling Devices
- 5.2.5. Ultrasound Devices
- 5.2.5.1. Implantable Devices
- 5.2.6. Bone Morphogenetic Protein
- 5.2.7. Platelet-rich Plasma (PRP)
- 5.2.1. Devices
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Spinal Fusion Surgeries
- 5.3.2. Delayed Union & Nonunion Bone Fractures
- 5.3.3. Oral & Maxillofacial Surgeries
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By End User
- 5.4.1. Hospitals & Clinics
- 5.4.2. Academic & Research Institutes and CROs
- 5.4.3. Home Care
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Bone Growth Stimulators Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product
- 6.2.1. Devices
- 6.2.1.1. External Devices
- 6.2.2. Pulsed Electromagnetic Field Devices
- 6.2.3. Combined Magnetic Field Devices
- 6.2.4. Capacitive Coupling Devices
- 6.2.5. Ultrasound Devices
- 6.2.5.1. Implantable Devices
- 6.2.6. Bone Morphogenetic Protein
- 6.2.7. Platelet-rich Plasma (PRP)
- 6.2.1. Devices
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Spinal Fusion Surgeries
- 6.3.2. Delayed Union & Nonunion Bone Fractures
- 6.3.3. Oral & Maxillofacial Surgeries
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By End User
- 6.4.1. Hospitals & Clinics
- 6.4.2. Academic & Research Institutes and CROs
- 6.4.3. Home Care
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Bone Growth Stimulators Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product
- 7.2.1. Devices
- 7.2.1.1. External Devices
- 7.2.2. Pulsed Electromagnetic Field Devices
- 7.2.3. Combined Magnetic Field Devices
- 7.2.4. Capacitive Coupling Devices
- 7.2.5. Ultrasound Devices
- 7.2.5.1. Implantable Devices
- 7.2.6. Bone Morphogenetic Protein
- 7.2.7. Platelet-rich Plasma (PRP)
- 7.2.1. Devices
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Spinal Fusion Surgeries
- 7.3.2. Delayed Union & Nonunion Bone Fractures
- 7.3.3. Oral & Maxillofacial Surgeries
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By End User
- 7.4.1. Hospitals & Clinics
- 7.4.2. Academic & Research Institutes and CROs
- 7.4.3. Home Care
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Bone Growth Stimulators Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product
- 8.2.1. Devices
- 8.2.1.1. External Devices
- 8.2.2. Pulsed Electromagnetic Field Devices
- 8.2.3. Combined Magnetic Field Devices
- 8.2.4. Capacitive Coupling Devices
- 8.2.5. Ultrasound Devices
- 8.2.5.1. Implantable Devices
- 8.2.6. Bone Morphogenetic Protein
- 8.2.7. Platelet-rich Plasma (PRP)
- 8.2.1. Devices
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Spinal Fusion Surgeries
- 8.3.2. Delayed Union & Nonunion Bone Fractures
- 8.3.3. Oral & Maxillofacial Surgeries
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By End User
- 8.4.1. Hospitals & Clinics
- 8.4.2. Academic & Research Institutes and CROs
- 8.4.3. Home Care
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Bone Growth Stimulators Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product
- 9.2.1. Devices
- 9.2.1.1. External Devices
- 9.2.2. Pulsed Electromagnetic Field Devices
- 9.2.3. Combined Magnetic Field Devices
- 9.2.4. Capacitive Coupling Devices
- 9.2.5. Ultrasound Devices
- 9.2.5.1. Implantable Devices
- 9.2.6. Bone Morphogenetic Protein
- 9.2.7. Platelet-rich Plasma (PRP)
- 9.2.1. Devices
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Spinal Fusion Surgeries
- 9.3.2. Delayed Union & Nonunion Bone Fractures
- 9.3.3. Oral & Maxillofacial Surgeries
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By End User
- 9.4.1. Hospitals & Clinics
- 9.4.2. Academic & Research Institutes and CROs
- 9.4.3. Home Care
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Zimmer Biomet
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. DJO Global
- 10.6. Medtronic plc
- 10.7. Terumo Corporation
- 10.8. Bioventus, Inc.
- 10.9. Orthofix Medical Inc.
- 10.10. IGEA
- 10.11. Ossatec Benelux BV
- 10.12. BTT Health GmbH
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
