Bone Growth Stimulator Market Demand Report | Size, Share & Growth Drivers 2030

Coverage: Bone Growth Stimulator Market covers analysis By Product [Devices (External Bone Devices, Ultrasonic Bone Growth Stimulators, Implantable Bone Growth Stimulators], Bone Morphogenetic Proteins, andPlatelet-Rich Plasma), Application (Spinal Fusion Surgeries, Delayed Union & Non-union Bone Fractures, Oral and Maxillofacial Surgeries, and Others), End User (Hospitals & Specialized Clinics, Ambulatory Surgery Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)

Publication Month : Mar 2024

  • Report Code : TIPHE100001118
  • Category : Medical Device
  • Status : Upcoming
  • No. of Pages : 150
Inquire Before Buy

PRICING

$5190

$4671

[Research Report] The Bone Growth Stimulator market size is projected to grow from US$ 1562.48 million in 2022 to US$ 2445.64 million by 2030; it is estimated to record a CAGR of 5.77% during 2022–2030.

Market Insights and Analyst View:

A bone stimulator is a device that generates an electric current that enhances bone growth. It uses pulsed electromagnetic or ultrasonic waves. It is important to use a bone stimulator every day for effective treatment. ‌Bone stimulators have two types: external and surgically implanted into the affected bone area. External bone growth stimulators are portable devices that one can wear on the outside of the body (even over a cast or brace) using straps to secure them in place. External stimulators can also be placed about anywhere on the body or over the site of a bone fracture. Internal bone growth stimulators are surgically implanted. Orthopedic doctors often prescribe bone growth stimulation following a spinal fusion surgery (lumbar or cervical).  

Factors that positively affect the Bone Growth Stimulator Market are the growing burden of bone and joint disorders across the globe, which boosts the need for Bone Growth Stimulator. Also, the rising demand for non-invasive or minimally invasive surgeries and the increasing aging population are driving investment in the Bone Growth Stimulator market.      

Growth Drivers:

The geriatric population has been rising significantly worldwide. The rise in geriatric population in developed countries such as the US, the UK, Canada, and Japan, and developing countries such as China, India, and South Korea is driven by the modernization of healthcare facilities and improvements in healthcare services, which has boosted the life expectancy in these countries. An increase in life expectancy is leading to a rising geriatric population globally. According to the data presented by the World Health Organization (WHO) in February 2018, the geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. In addition, according to the US Census Bureau, the number of people in the US aged 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060; their population share would increase from ~15% to ~24% during this period. According to the United Nations World Population Ageing 2017 report, in 2017, Europe had the highest percentage of people over the age of 60 (25%). Other regions of the world are also experiencing accelerated aging. By 2050, all regions except Africa will have approximately a quarter or more of their populations aged 60 and over. The geriatric population in the world is anticipated to reach US$ 1.4 billion, US$ 2.1 billion, and above USD 3.1 billion by 2030, 2050, and 2100, respectively. Moreover, underdeveloped and developing countries would account for ~80% of this growth.

The incidence rate of osteoporosis among the elderly population is high, and age is one of the important reasons for the occurrence of a spinal fracture. With growing age, bones become thinner and stronger. In osteoporosis disease, bones become weaker and are more likely to break. As the population ages, the demand for total knee osteoarthritis (TKA) is projected to increase among people in their eighties.

Therefore, due to the increasing geriatric population and the surging incidence of osteoporosis, the bone growth stimulator market is anticipated to witness significant growth.  

Strategic Insights

Report Segmentation and Scope:

The “Bone Growth Stimulator Market” is segmented on the basis of device, application, end user, and geography. Based on product, the Bone Growth Stimulator market is segmented into devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). The device segment is segmented as external bone devices, ultrasonic bone growth stimulators, and implantable bone growth stimulators. The external bone devices segment is segmented as capacitive coupling (CC) devices hair sprays, combined magnetic field devices (CMF), pulsed electromagnetic field devices (PEMF), and ultrasound devices. In terms of application, the Bone Growth Stimulator market is segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and others. Based on the end user, the Bone Growth Stimulator market market is categorized into hospitals & clinics, ambulatory surgery centers, and others. The Bone Growth Stimulator market, based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Report Segmentation and Scope:

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Segmental Analysis:

The Bone Growth Stimulator market based on product is segmented into devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). The devices segment is divided into external bone devices, ultrasonic bone growth stimulators, and implantable bone growth stimulators.

The external bone devices segment is segmented as capacitive coupling (CC) devices hair sprays, combined magnetic field devices (CMF), pulsed electromagnetic field devices (PEMF), and ultrasound devices.

The devices segment held the largest share of the market in 2022 and is estimated to register the highest CAGR in the market during 2022-2030. With the increasing approvals of new designs of devices and technologically advanced devices, the ease of use and healing of bone surfaces is growing. Thus, the adoption of devices is increasing. For instance, In August 2022, Theragen received a U.S. Patent acknowledging its innovative approach to the development of the ActaStim-S Spine Fusion Bone Growth Stimulator system. ActaStim-S blends clinically demonstrated therapeutic stimulation with a data-rich digital health platform and modern design. The system promotes healing and encourages patient engagement, compliance, and informed dialogue with healthcare providers during the lengthy and critical post-operative fusion process. With new device launches, the device segment is expected to hold a significant share of the bone growth stimulator market.

Based on application, the Bone Growth Stimulator Market is segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and others. The spinal fusion surgeries segment held the largest market share in 2022 and is anticipated to grow at the fastest rate from 2022 to 2030.

Spinal fusion is becoming increasingly common given the geriatric population, as globally, spinal fusion incidence for degenerative indications has exponentially grown. Patients who use the bone growth stimulator for spinal fusion are twice as likely to have their bones fused successfully. These devices send low-level pulses of electromagnetic energy to stimulate the natural bone healing process, which is essential for the success of the surgery. In addition to treating a failed fusion, bone growth stimulators lower the chances of revision surgery.

Bone Growth Stimulator Market by End User – 2022 and 2030

Bone Growth Stimulator Market by End User – 2022 and 2030

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Based on the end user, the Bone Growth Stimulator market is segmented into hospitals & clinics, Ambulatory Surgery Centers, and Others.

The hospitals & clinics segment held the largest Bone Growth Stimulator market share in 2022. However, the medical spas segment is anticipated to register the highest CAGR during 2022-2030. In hospitals, various Bone Growth Stimulator surgeries are performed on people suffering from bone diseases. Orthopedic hospitals include facilities such as a range of sub-specialty physicians who focus on orthopedic spine conditions and also specialize in joint orthopedics, pediatric orthopedics, sports medicine, and orthopedic oncology. The orthopedic hospitals also focus on inpatient facilities. The inpatient services provided by the hospitals focus on the admission of patients for several days after the surgical procedure. Complex orthopedic surgeries requiring special care are performed in hospitals since they require more monitoring and advanced technologies. Most orthopedic surgeries are performed in hospitals, owing to the continuous patient care and monitoring. Thus, the abovementioned factors are likely to drive the growth of the segment during the forecast period. The higher prevalence of bone diseases primarily drives the growth of the Bone Growth Stimulator market in Asia-Pacific, the growing aging population, the growing demand for minimally invasive surgeries, and developments by the market players in the Asia-Pacific region. 

The aging population of Japan largely experiences the occurrence of degenerative spinal disorders. For instance, according to Japan’s Super-Aging Society in 2019, Japan's senior population (aged 65 and over) reached 35.89 million, accounting for 28.4 % of Japan’s population. The senior population (aged 65 and above) is predicted to reach 37.16 million by 2030, accounting for 31.2 % of Japan's population. Thus, the increasing aging population elevates the demand for orthopedic procedures, which is boosting the Bone Growth Stimulator Market growth for healing.

Regional Analysis:

Based on geography, the Bone Growth Stimulator Market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. North America is likely to capture a significant share of the global market in 2022. The market growth in the region is attributed to the rising prevalence of bone diseases, technological advancement in new product development for bone growth, and increasing R&D activities. In addition, a growing number of market players are expanding their geographical footprint in North American countries. In North America, the US holds a significant share of the Bone Growth Stimulator Market. The growth of the market in the country is primarily driven by the increasing aging population in the US, the growing prevalence of arthritis, and the increasing number of sports injuries. For instance, As per the Centers for Disease Control and Prevention, around 23% of the US population has arthritis. In 2020, 1 in 4 adults in the United States had arthritis. According to the National Osteoporosis Foundation (NOF), in the United States, in 2018, approximately 10.2 million people aged 50 years and older had osteoporosis. Most of these people are women, but about 2 million are men. Just over 43 million more people, including 16 million men, have low bone mass. The incidence of vertebral compression fractures (VCFs) increases markedly with age. It is one of the most common sequels of osteoporosis, comprising almost half of all osteoporotic fractures in the US annually.       

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the global Bone Growth Stimulator Market are listed below: 

  1. In May 2023, Orthofix Medical Inc. announced that the STIM onTrack mobile app for use with the Company’s bone growth stimulators was recognized as the “Best Patient Engagement Mobile App” by Medtech Breakthrough. This independent market intelligence company recognizes the top companies, products, and technologies in the global medical and health technology market.
  2. In October 2022, Theragen received its 2nd U.S. patent in 3 months. The latest patent acknowledges ActaStim-S' contemporary design, the first spine fusion, new post-op, and bone growth stimulator in decades. Theragen's latest patent (U.S. 11,426,574) recognizes ActaStim-S' innovative design focused on providing excellent ease of use. This recognition is significant as bone stim technology relies on consistent therapeutic use to improve outcomes. ActaStim's wearability is necessary to support usage. Also, its complimentary Sync App can be advantageous in sustaining it by informing patients of their activity levels, usage, and pain entry reporting.  
  3. In August 2022, Theragen received a U.S. Patent acknowledging its innovative approach to the development of the ActaStim-S Spine Fusion Bone Growth Stimulator system. ActaStim-S blends clinically demonstrated therapeutic stimulation with a data-rich digital health platform and modern design. The system promotes healing and encourages patient engagement, compliance, and informed dialogue with healthcare providers during the lengthy and critical post-operative fusion process.  
  4. In February 2020, Orthofix Medical Inc., the U.S. Food and Drug Administration (FDA) approved the STIM onTrack mobile app version 2.1 for use with the Company’s bone growth stimulators. The STIM onTrack technology works with the Orthofix Bone Growth Therapy devices. The mobile device app is an accessory designed to help patients stick to their prescriptions and enhance their clinical outcomes.

Competitive Landscape and Key Companies:

Zimmer Biomet, Bioventus, Synergy Orthopedics, Ito Co., Ltd., Boston Scientific Corporation, BTL, Cyberonics, Inc., DJO LLC, and Medtronic are the major Bone Growth Stimulator companies. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide.      

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Zimmer Biomet
2. DJO, LLC
3. Arthrex, Inc.
4. Smith & Nephew
5. Orthofix Holdings, Inc.
6. Ossatec Benelux BV
7. elizur Corporation
8. Medsource, LLC
9. Regen Lab SA
10. Ito Co., Ltd.
11. Bioventus LLC
12. Harvest Technologies Corporation
13. DePuy Synthes
14. Stryker
15. Altis Biologics
16. Medtronic
17. Johnson & Johnson Services, Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Bone Growth Stimulator Market