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The Bone Growth Stimulator Market Size is valued at 1161.47 Million in 2023 and is predicted to reach 1967.46 Million by the year 2031 at a 7.04 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
Bone growth stimulators are medical devices that help patients recover faster from ailments such as spinal fixation and orthopedic fixing. Bone growth stimulators treat fresh fractures, fractures that heal slowly or not at all, and fractures with a high risk. During the projected period, the worldwide bone growth stimulators market is expected to be propelled by an increase in demand for bone growth stimulators in emerging economies. Other factors driving global market expansion include an increase in the number of accidents and spinal injuries, an increase in the incidence of orthopedic diseases, and an increase in the number of people prone to orthopedic disorders. Companies in the bone growth stimulators market focus on technical developments to create better goods that drive the industry.
Furthermore, the increasing prevalence of bone illnesses is anticipated to propel the market during the forecast period. Rising rates of osteoporosis are expected to be the primary cause of fractures worldwide, benefiting the sector during the projection period. Limited medical reimbursement for bone stimulation products and the high cost of treatment associated with BMP and PRP products may stymie market expansion over the projected period, while adverse effects connected with BMP-based orthopedic treatment pose further challenges.
The bone growth stimulator market is segmented on the product, applications and end-use. Based on product, the market is divided into bone growth stimulation devices, bone morphogenetic proteins and platelet-rich plasma. Based on applications, the bone growth stimulator market is divided into spinal fusion surgeries, delayed union & non-union bone fractures, and oral and maxillofacial surgeries. Based on end-use, the bone growth stimulator market is segmented into hospital & ASCs home care settings, academic & research institutions.
The bone growth stimulation devices segment is estimated to hold a significant market share. The segment's growth can be due to the growing number of patients undergoing spinal fusion operations worldwide. Furthermore, the rising prevalence of age-related spinal disorders and fractures propels the market. Aging causes bone density to decrease and bones to weaken owing to excessive bone mass loss, which can lead to fractures and spinal issues. Furthermore, the high cost of the treatment and the rising volume of procedures are significant drivers supporting segmental expansion during the forecast period.
Spinal fusion surgeries grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. This considerable market share is primarily due to increasing patient knowledge of the procedural aid provided by bone growth stimulation devices and technological developments. The bone growth stimulation devices have various applications, including spinal fusion procedures, non-union bone fractures, and maxillofacial surgeries. Rapid technological improvements in these devices are positively encouraging product uptake. These developments in external and ultrasonic bone growth stimulators for expediting the repair of specified bone and various other breakthroughs have increased the procedure's outcome and success rate.
The North American bone growth stimulator market is expected to register the highest market share in revenue soon. Because of the increased occurrence of orthopedic and spinal disorders such as bone fractures and spinal injury, better therapeutic techniques and enhanced treatment processes have positively impacted the American market's expansion. Furthermore, the growing patient population for orthopedic fixation treatments, high awareness among the American public, and high spending income are some of the numerous reasons driving the market in this region's growth. In addition, Asia Pacific is projected to grow rapidly in the global Bone growth stimulator market. The regional market's growth can be ascribed to the vast population base and the increasing prevalence of bone and joint diseases. The presence of growing countries such as India, China, and Japan, among others, is a vital driver boosting the bone growth stimulant market.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 1161.47 Million |
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Revenue Forecast In 2031 |
USD 1967.46 Million |
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Growth Rate CAGR |
CAGR of 7.04 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Product, Application, End-Use |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Orthofix US LLC, Stryker, Medical Device Business Services, Inc., Bioventus, Medtronic, DJO, LLC, Zimmer Biomet, Arthrex, Inc., Terumo Corporation, and Ossatec Benelux BV. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Bone Growth Stimulator Market Snapshot
Chapter 4. Global Bone Growth Stimulator Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2023 to 2031 for the following by Product Type:
5.2.1. Bone Growth Stimulation Devices
5.2.2. Bone Morphogenetic Proteins
5.2.3. Platelet-rich Plasma
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
6.2.1. Spinal Fusion Surgeries
6.2.2. Delayed Union & Non-Union Bone Fractures
6.2.3. Oral & Maxillofacial Surgeries
6.2.4. Other Application
Chapter 7. Market Segmentation 3: by End use Estimates & Trend Analysis
7.1. by End use & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End use:
7.2.1. Hospital & ASCs
7.2.2. Home Care Settings
7.2.3. Academic & Research Institutes
Chapter 8. Bone Growth Stimulator Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Bone Growth Stimulator Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031
8.1.2. North America Bone Growth Stimulator Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
8.1.3. North America Bone Growth Stimulator Market revenue (US$ Million) by End use, 2024-2031
8.1.4. North America Bone Growth Stimulator Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.2. Europe
8.2.1. Europe Bone Growth Stimulator Market revenue (US$ Million) by Product Type, 2024-2031
8.2.2. Europe Bone Growth Stimulator Market revenue (US$ Million) by Application, 2024-2031
8.2.3. Europe Bone Growth Stimulator Market revenue (US$ Million) by End use, 2024-2031
8.2.4. Europe Bone Growth Stimulator Market revenue (US$ Million) by country, 2024-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Bone Growth Stimulator Market revenue (US$ Million) by Product Type, 2024-2031
8.3.2. Asia Pacific Bone Growth Stimulator Market revenue (US$ Million) by Application, 2024-2031
8.3.3. Asia-Pacific Bone Growth Stimulator Market revenue (US$ Million) by End use, 2024-2031
8.3.4. Asia Pacific Bone Growth Stimulator Market revenue (US$ Million) by country, 2024-2031
8.4. Latin America
8.4.1. Latin America Bone Growth Stimulator Market revenue (US$ Million) by Product Type, 2024-2031
8.4.2. Latin America Bone Growth Stimulator Market revenue (US$ Million) by Application, 2024-2031
8.4.3. Latin America Bone Growth Stimulator Market revenue (US$ Million) by End use, 2024-2031
8.4.4. Latin America Bone Growth Stimulator Market revenue (US$ Million) by country, 2024-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Bone Growth Stimulator Market revenue (US$ Million) by Product Type, 2024-2031
8.5.2. Middle East & Africa Bone Growth Stimulator Market revenue (US$ Million) by Application, 2024-2031
8.5.3. Middle East & Africa Bone Growth Stimulator Market revenue (US$ Million) by End use, 2024-2031
8.5.4. Middle East & Africa Bone Growth Stimulator Market revenue (US$ Million) by country, 2024-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Orthofix US LLC
9.2.2. Stryker
9.2.3. Medical Device Business Services, Inc.
9.2.4. Bioventus
9.2.5. Medtronic
9.2.6. DJO, LLC
9.2.7. Zimmer Biomet
9.2.8. Arthrex, Inc.
9.2.9. Terumo Corporation
9.2.10. Ossatec Benelux BV
9.2.11. Other Prominent Players
By Product-
By Application
By End-Use
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
