Overview and Scope
The bone growth stimulator is an electrical osteogenesis stimulator used to boost the natural fusion of bone after a fracture. The purpose of BGS is to send more energy to the healing bone surface through either pulsed electromagnetic or ultrasound. The electromagnetic field allows attracting the two oppositely charged ends of the bones to each other by stimulating new bone growth and fusion, which leads to healing. The bone growth stimulator is used to boost bone healing for difficult to heal fractures or fusions through applying ultrasonic or electrical current to the fracture/fusion site.
Sizing and Forecast
The bone growth stimulator market size has grown rapidly in recent years. It will grow from <b>$1.53 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. </b> The growth in the historic period can be attributed to aging population and orthopedic conditions, increasing awareness of non-invasive treatments, expansion of healthcare access, favorable reimbursement policies, increased demand for minimally invasive solutions , and increased orthopedic surgery prevalence.
The bone growth stimulator market size is expected to see strong growth in the next few years. It will grow to <b>$2.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. </b> The growth in the forecast period can be attributed to enhanced public awareness, regenerative medicine adoption, healthcare infrastructure investments, expanding applications and indications, and supportive healthcare policies. Major trends in the forecast period include regenerative medicine, the use of 3d printing technology, incorporating wireless and iot technologies for remote patient monitoring, patient-centric care, and increasing utilization of telemedicine.
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Segmentation & Regional Insights
The bone growth stimulator market covered in this report is segmented –
1) By Type: Bone Growth Stimulation Devices, Bone Morphogenetic Proteins (BMP), Platelet-Rich Plasma (PRP) Therapy
2) By Type Of Use: Implantable Device, External Device
3) By Application: Fractures, Spinal Fusion, Osteogenesis, Arthrodesis Treatment, Spondylolithesis
4) By End User: Hospitals & ASCs, Speciality Clinics, Home Care
<b>North America</b> was the largest region in the bone growth stimulator market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the bone growth stimulator market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising number of bone fractures is expected to significantly drive the growth of the bone growth stimulators market. A person’s bones typically weaken with age, dietary habitat, and other chronic disorders. The overuse or repetitive motions can tire muscles and put more pressure on the bones, leading to bone fracture. For instance, Amgen, a US-based biotechnology company, presented numbers in May 2022 stating that osteoporosis causes around 1.5 million fractures annually in the United States, resulting in $19 billion in associated expenses. In addition, it is predicted that from 2018 to 2040, there would be a 68% increase in the number of osteoporotic fractures every year, from 1.9 million to 3.2 million. Therefore, the rise in the number of bone fractures is expected to drive the growth of the bone growth stimulator market.
Key Industry Players
Major companies operating in the bone growth stimulator market include <b> Arthrex Inc., DJO Global Inc., Stryker Corporation, Bioventus LLC, Zimmer Biomet Holdings Inc., 3M Company, Ambu A/S, Becton Dickinson and Company, Cognionics Inc., ConMed Corporation, The Cooper Companies Inc., DyMedix Corporation, Koninklijke Philips N.V., Medtronic plc, Natus Medical Incorporated, Terumo Corporation, Orthofix Medical Inc., Ossatec Benelux BV, BTT Health GmbH, Stimulate Health Inc., ZimVie Inc., Enovis Inc., DePuy Synthes Inc., Smith & Nephew plc, BioTek Instruments Inc., BioMimetic Therapeutics Inc., Cerament, Cook Medical LLC, Curasan AG, Exactech Inc., Globus Medical Inc., Integra LifeSciences Corporation, Medartis AG, NuVasive Inc., OrthoPediatrics Corp., RTI Surgical Holdings Inc., Wright Medical Group N.V. </b>
The bone growth stimulator market report table of contents includes:
1. Executive Summary
2. Bone Growth Stimulator Market Characteristics
3. Bone Growth Stimulator Market Trends And Strategies
4. Bone Growth Stimulator Market – Macro Economic Scenario
5. Global Bone Growth Stimulator Market Size and Growth
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26. South America Bone Growth Stimulator Market
27. Brazil Bone Growth Stimulator Market
28. Middle East Bone Growth Stimulator Market
29. Africa Bone Growth Stimulator Market
30. Bone Growth Stimulator Market Competitive Landscape And Company Profiles
Top Major Players:
- Arthrex Inc.
- DJO Global Inc
- Stryker Corporation
- Bioventus LLC
- Zimmer Biomet Holdings Inc
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