Global Bone Growth Stimulators Market By Product (Bone Growth Stimulation Devices, Bone Morphogenetic Proteins and Platelet-Rich Plasma) By Application (Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries and Others) By Distribution Channel (Hospitals & Clinics, Home Care and Others) By Region, Industry Analysis and Forecast, 2020 - 2026
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The Global Bone Growth Stimulators Market size is expected to reach $1.7 billion by 2026, rising at a market growth of 7.1% CAGR during the forecast period. Bone growth stimulator devices are medical devices that accelerate the fracture healing cycle in cases of delay or failure. They improve the normal speed of healing by giving patients electrical shocks. Some of the available bone growth stimulators in the market include bone stimulation tools, bone morphogenetic proteins, and platelet-rich plasma. There are three types of bone stimulation devices, including pulsed electromagnetic field devices, capacitive coupling devices, and combined magnetic field devices.
Global Bone Growth Stimulators Market Size
Increasing cases of chronic conditions such as arthritis and osteoporosis would drive market growth. The susceptibility to fractures rises with age, which means that the increasing geriatric population will also contribute to the growth of the global demand for bone growth stimulators. Demographic factors such as increasing average age and global average life expectancy would also have an effect on the overall growth of the market. Diabetes mellitus hinders the body's normal healing cycle. Growing cases of diabetes along with other medical conditions such as vascular disease, kidney disorders, and obesity would fuel the demand over the forecast timeframe.
With the globally rising infection of Covid-19, the apprehension of the lack of essential life-saving equipment and other vital medical supplies to prevent the spread of this pandemic is also expanding and providing optimum care for the infected. In addition, before pharmacological treatment is established, ventilators serve as a vital treatment preference for COVID-19 patients who may need critical care. In addition, there is an immediate need for rapid acceleration in the manufacturing cycle for a wide range of test kits (antibody tests, self-administration, and others).
Bone Growth Stimulators Market Share
Based on Product, the market is segmented into Bone Growth Stimulation Devices, Bone Morphogenetic Proteins and Platelet-Rich Plasma. Based on Application, the market is segmented into Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries and Others. Based on Distribution Channel, the market is segmented into Hospitals & Clinics, Home Care and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Bone Growth Stimulators Market to reach a market size of $1.7 billion by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson and Johnson, Medtronic PLC, Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew PLC, Terumo Corporation (Terumo BCT, Inc.), Colfax Corporation (DJO Global, Inc.), Orthofix Medical, Inc., Arthrex, Inc., Bioventus LLC.
Recent Strategies Deployed in Bone Growth Stimulators Market
- Sep-2019: Bioventus LLC signed an agreement with UnitedHealthcare Employer & Individual commercial plans. Following the agreement, UnitedHealthcare (UHC) commercial plan members would have access to DUROLANE and GELSYN-3 treatments for osteoarthritis (OA) knee pain. Both these treatments are used for osteoarthritis of knee patients who don’t respond to conservative pain treatments such as acetaminophen.
- May-2019: Medtronic signed an agreement to acquire Titan Spine, a titanium spine interbody implant and surface technology company. The acquisition aims to strengthen company's position as a leading innovator in procedural solutions for spine surgery.
- Mar-2019: Arthrex extended its distribution agreement with CollPlant, a regenerative medicine company. The companies aimed to distribute VergenixSTR in Europe, the Middle East, India, and certain African countries. VergenixSTR is an injectable gel comprised of cross-linked bioengineered recombinant human type I collagen, rhCollagen, combined with autologous platelet-rich plasma (PRP). The gel accelerates healing in the treatment of tendinopathy, including tennis elbow, rotator cuff, patellar tendon, Achilles tendon, and hand tendons.
- Sep-2018: Johnson & Johnson completed the acquisition of Emerging Implant Technologies, a spinal fusion implant developer. The acquisition broadened its subsidiary DePuy Synthes‘ interbody implant portfolio, and EIT’s technology complemented its existing spinal interbody implant segment.
- Apr-2018: DePuy Synthes, part of the Johnson & Johnson Medical Devices Companies, announced the U.S. launch of the PROTI 360° Integrated Titanium Family of interbody devices. These devices advances care for patients who have degenerative disc disease in the neck and back.
- Apr-2018: Medtronic got U.S. Food and Drug administration (FDA) approval for its Infuse Bone Graft in new spine surgery indications. Infuse Bone Graft is used with additional spine implants made of polyetheretherketone (PEEK) in blique lateral interbody fusion (OLIF 25 and OLIF 51) and anterior lumbar interbody fusion (ALIF) procedures at a single level infuse. Bone Graft is used with certain Medtronic interbody fusion devices to treat lumbar degenerative disc disease.
- Mar-2018: Orthofix International received the U.S. Food and Drug Administration (FDA) and European CE Mark approvals for its next-generation PhysioStim bone growth stimulators. The PhysioStim devices offer a non-surgical treatment option for patients who have a nonunion fracture to an extremity that has shown no visible signs of healing.
Scope of the Bone Growth Stimulators Market Analysis
- Bone Growth Stimulation Devices
- Bone Morphogenetic Proteins and
- Platelet-Rich Plasma
- Spinal Fusion Surgeries
- Delayed Union & Nonunion Bone Fractures
- Oral & Maxillofacial Surgeries and
By Distribution Channel
- Hospitals & Clinics
- Home Care and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Johnson and Johnson
- Medtronic PLC
- Zimmer Biomet Holdings, Inc.
- Stryker Corporation
- Smith & Nephew PLC
- Terumo Corporation (Terumo BCT, Inc.)
- Colfax Corporation (DJO Global, Inc.)
- Orthofix Medical, Inc.
- Arthrex, Inc.
- Bioventus LLC
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Bone Growth Stimulators Market Related Reports:
How valuable the bone growth stimulators market be in the future?
According to a new report published by KBV Research, The global bone growth stimulators market size is expected to reach $1.7 billion by 2026.
What factors are anticipated to drive bone growth stimulators market trends?
The major factors that are anticipated to drive the bone growth stimulators industry include prevalence of Orthopedic Disease Worldwide, Increase in Use of Portable, Battery-powered CMF Bone Growth Stimulators and Adoption of External Bone Growth Stimulators.
Who are the major top companies in the competitive landscape?
Johnson and Johnson, Medtronic PLC, Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew PLC, Terumo Corporation (Terumo BCT, Inc.), Colfax Corporation (DJO Global, Inc.), Orthofix Medical, Inc., Arthrex, Inc., Bioventus LLC.
At what CAGR is the bone growth stimulators market estimate to grow in the forecast period?
The expected CAGR of bone growth stimulators market is 7.1% from 2020 to 2026.