DUBLIN, Ireland, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Bone Growth Stimulation Devices Market Size, Share, Growth Analysis Report By Product (External Bone Growth Stimulators, Implanted Bone Growth Stimulators, and Ultrasonic Bone Growth Stimulators), By Application (Spinal Fusion Surgeries, Delayed Union and Nonunion Bone Fractures, Oral and Maxillofacial Surgeries and Other Applications), By End User (Hospitals and Clinics, Home Care and Academic and Research Institutes and CROS), and By Region- Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Bone Growth Stimulation Devices Market size & share in terms of revenue was valued at USD 975.10 million in 2021 and it is expected to surpass around USD 1269.83 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 4.50% during the forecast period 2022 to 2028.”

What are Bone Growth Stimulation Devices? How big is the Bone Growth Stimulation Devices Industry?

Bone growth stimulator devices are medical devices that enhance fracture healing in circumstances of delay or failure. They speed up the healing process by administering electric shocks to patients. Some bone growth stimulators on the market include bone morphogenetic proteins, bone growth stimulation agents, and platelet-rich plasma. There are three types of bone growth stimulation devices: pulsed electromagnetic field devices, capacitive coupling devices, and hybrid magnetic field devices. The increasing number of individuals struggling from degenerative bone diseases and osteoarthritis is expected to fuel market expansion. Owing to the rise in demand for Bone Growth Stimulation Devices, the global Bone Growth Stimulation Devices market is estimated to grow at a CAGR of 4.50% during the forecast period.

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Market Growth Dynamics

Growing demand for non-invasive and minimally invasive surgical treatments, an increase in target patient population, an increase in the number of benefits provided by devices in bone fracture treatment, the development of biocompatible synthetic bone grafts, and an increase in orthopedic conditions and surgical cases are some of the major and critical factors that will likely augment the growth of the bone growth stimulation devices market. On the other hand, an increasing number of applicants from emerging economies, as well as technical innovation and development in the field of healthcare, will help the expansion of the bone growth stimulation devices market by generating significant potential. However, high treatment costs, combined with a lack of reimbursement policies in emerging economies, are predicted to function as market barriers to the expansion of bone growth stimulation devices over the forecasted timeframe.

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Bone Growth Stimulation Devices Market: COVID-19 Impact Analysis

The worldwide COVID-19 pandemic has had a significant impact on markets across a variety of sectors and businesses, including the healthcare industry, the oil and petroleum industry, the aerospace and defense industry, and the food and beverage industry. It is anticipated that the pandemic will have a negative impact on the market for bone growth stimulation devices in the short term as a result of a decrease in the number of elective surgeries, a ban on organized sports, the temporary shutdown of O&P clinics, limited access to clinics, hospital access restricted to non-essential care, and a slowdown in in-patient flow and referrals. Nevertheless, there are indications of a moderate recovery in the big markets of Europe and China.

Bone Growth Stimulation Devices Market: Segmentation Analysis       

The Global Bone Growth Stimulation Devices Market is segregated based on product, application, end-user, and region. Based on product, the market is divided into External Bone Growth Stimulators, Implanted Bone Growth Stimulators and Ultrasonic Bone Growth Stimulators. Among these the External Bone Growth Stimulators segment dominates the market in 2021.

Based on application, the market is divided into Spinal Fusion Surgeries, Delayed Union and Nonunion Bone Fractures, Oral and Maxillofacial Surgeries and Other Applications. Over the forecast period, the spinal fusion surgeries segment is expected to develop at the fastest rate in 2021.

Based on end-user, the market is classified into Hospitals and Clinics, Home Care and Academic and Research Institutes and CROS. The hospitals and clinics segment dominates the market in 2021.

The global Bone Growth Stimulation Devices market is segmented as follows:

By Product

By Application

By End User

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Competitive Landscape

Some of the main competitors dominating the global Bone Growth Stimulation Devices market include - 

Key Insights from Primary Research:

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Regional Analysis:

North America is expected to dominate the Global Bone Growth Stimulation Devices Market in 2021. The highly developed healthcare system and reimbursement system in North America, as well as greater physician and patient awareness of recently introduced treatment procedures and practices in the market, may be attributed to the region's high dominance. The market for North American bone growth stimulation devices is growing as a result of an aging population, an increase in the prevalence of spinal problems, increased exposure to significant risk factors (such as obesity, smoking, and diabetes), and growing patient demand for minimally invasive orthopedic therapy.

Over the forecast period, the Asia Pacific regional market is expected to grow at a significant rate in 2021. Profitable development has resulted from the area's rising prevalence of bone diseases. It is projected that the sizable pool of potential customers and the market's under saturation would offer bone stimulator companies profitable expansion opportunities, helping to foster regional growth.

By Region

Recent Developments

Report Scope

Report Attribute Details
Market Size in 2021 USD 975.10 Million
Projected Market Size in 2028 USD 1269.83 Million
CAGR Growth Rate 4.50% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Zimmer Biomet, Bioventus, Orchid Medical Inc., TERUMO BCT INC., Arteriocyte Medical Systems Inc., Arthrex Inc., Smith & Nephew, Stryker, Medtronic, Orthofix Medical Inc., Regen Lab SA, elizur Corporation, and Others
Key Segment By Product, Application, End User, and Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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