Bone Growth Stimulator Market Will Reach at USD 1.88 billion by 2029

DBMR team of skilled analysts, statisticians, research experts, enthusiastic forecasters, and economists work painstakingly to structure such a great market report for the businesses seeking a potential growth. This team is focused on understanding client's businesses and its needs so that the finest market research report is delivered to the client. With the use of up to date and proven tools and techniques, complex market insights are organized in simpler version in the first class Bone Growth Stimulator business report for the better understanding of end user. Bone Growth Stimulator market research report encompasses a comprehensive study of the product specifications, revenue, cost, price, gross capacity and production.
Data Bridge Market Research analyses that the bone growth stimulator market which was USD 1.2 billion in 2021, is expected to reach USD 1.88 billion by 2029, at a CAGR of 5.8% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

A bone growth factor is a growth factor that promotes the growth of bone tissue. Following a fracture or spinal fusion surgery, the therapy recommended by the surgeons is known as a bone growth stimulator, which aids in the faster healing of fractures. They are also known as osteogenesis stimulators and deliver painless ultrasound. They are extremely beneficial in cervical and lumbar spine surgery.
Drivers
Rising incidence of trauma and accident cases
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. Furthermore, according to World Population Prospects: The 2019 Revision Data, 1 in 11 people in 2019 were over the age of 65. This figure is expected to rise to one in every six people by 2050.

Furthermore, an increasing incidence of trauma and accident cases worldwide is considered as one of the major factors likely to boost the demand for the market. According to the National Safety Council, in 2018, around 4.5 million people were severely injured due to accidents. Thus, the above-mentioned factors, the bone growth stimulator market is expected to witness significant growth over the forecast period globally.

Rising number of bone fracture cases
The growing number of bone fracture cases and the effectiveness of external bone growth stimulators in healing fractures are driving up demand of the products. According to a study published in the Archives of Osteoporosis, 2020, fragility fractures in the five largest European Union countries plus Sweden (EU6) accounted for 2.7 million in 2017 and are expected to reach 3.3 million by 2030, a 23% increase from 2017. Furthermore, according to a study published in the Orthopaedic Trauma Association International in 2020, 14% of the Australian population has osteoporosis, and 60,000 hip fractures are expected to occur in Australia by 2050. This reflects the growing global burden of fracture. Therefore, there is a growing demand for external bone growth stimulators, which will contribute to the growth of the market during the forecast period.

Opportunities

Rise in prevalence of orthopedic diseases
According to the Arthritis Foundation, degenerative joint disease disorders such as osteoarthritis will affect nearly 130 million people worldwide by 2050. The rise in the prevalence and burden of orthopaedic diseases has resulted in an increase in the patient pool undergoing minimally invasive surgeries worldwide. As a result, bone growth stimulators are in high demand. The high prevalence of bone marrow transplants and bone cancers adds to the demand for bone stimulators.

Recent developments

In February 2020, Orthofix Medical Inc. received US FDA approval for its STIM on Track, mobile app version 2.1 to advance treatment with its bone growth stimulators CervicalStim, SpinalStim, and PhysioStim.
In January 2020, Medtronic acquired Stimgenics to expand its portfolio in Differential Target Multiplexed Spinal Cord Stimulation Therapy. Stimgenics, a privately held company that pioneered a novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation, was acquired by Medtronichas. The therapy, which is delivered via the Medtronic Intellis platform, is a novel programming option for treating chronic pain patients.

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Global Bone Growth Stimulator Market Scope
The bone growth stimulator market is segmented on the basis of product, end-user and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

Bone Growth Stimulation 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)
End- User

Hospitals
Clinics
Home Care
Academic and Research Institutes and CROS
Application

Spinal Fusion Surgeries
Delayed Union and Non-union Bone Fractures
Oral and Maxillofacial Surgeries
Bone Growth Stimulator Market Regional Analysis/Insights
The bone growth stimulator market is analysed and market size insights and trends are provided by country, product, end-user and application as referenced above.

The countries covered in the bone growth stimulator market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the bone growth stimulator market due to high prevalence of osteoporosis or vertebral fractures in this region. Companies are growing the availability of electrical bone growth stimulators that play an instrumental role post spinal fusion surgeries.

Some of the major players operating in the bone growth stimulator market are:

Zimmer Biomet (U.S.)
Bioventus (U.S.)
Synergy Orthopedics (U.S.)
Ito Co., Ltd. (Japan)
Boston Scientific Corporation (U.S.)
BTL (Canada)
Cyberonics, Inc. (U.S.)
DJO LLC (U.S.)
Medtronic (Ireland)
Nevro Corp (U.S.)
NeuroMetrix, Inc (U.S.)
Abbott (U.S.)
Uroplasty Inc (U.S.)
Cogentix Medical (U.S.)
Aleva Neurotherapeutics (Switzerland)
NeuroPace Inc (U.S.)
AxioBionics (U.S.)
Beurer GmbH (Germany)
Omron Healthcare, Inc (Japan)
RS Medical (Japan),
Stryker (U.S.)
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