Market Overview
Bone growth stimulation device is used to help in bone healing process in severe fractures. These stimulators re used to enhance the bone healing process without the sensation of electrical shocks. The devices stimulate the natural healing process of bone by sending low level pulses of electromagnetic energy to the injury or fusion site.
Statistics:
The global bone growth stimulators market is estimated to account for US$ 2,975.5 Mn in terms of value and 1,165,560 Units in terms of volume by the end of 2027.
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Market Drivers
Growing cases of osteoarthritis and osteoporosis is expected to drive growth of the global bone growth stimulator market during the forecast period. According to the study ‘Epidemiology and awareness of osteoporosis: a viewpoint from the Middle East and North Africa’ published in the International Journal of Clinical Rheumatology, in 2018, the prevalence of osteoporosis was 15.1% among women and 10.7% among men in Turkey. Moreover, high incidence of the osteoporosis and osteopenia was detected among patients admitted to the geriatric department.
Furthermore, increasing geriatric population is also expected to contribute to growth of the market. For instance, according to the same source, by 2050, the population of Egypt is expected to reach 130 million, of which over 30% will be aged 50 years and over.
In 2018, North America accounted for the largest share of 42.3% in the global bone growth stimulators market, followed by Europe.
Restraints
Availability of alternative therapies such as physiotherapy, Ayurveda treatment, and chiropractic are expected to hamper the global bone growth stimulator market growth over the forecast period. Furthermore, scientific data for the effectiveness of bone growth stimulator is low and long-term use could lead to adverse effects such as numbness, tingling, increased pain, migraines, headache, and nausea, which is expected to restrain growth of the global bone growth stimulator market in the near future.
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Opportunities
Generally, bone growth stimulator cost around US$ 6,000 and hence, reduction in cost of the devices presents major business opportunities. Moreover, increasing awareness regarding the use and benefits of bone growth stimulators and new technologically advance product launch is also expected to aid in market growth. For instance, in November 2019, Advanced Biomedical Technologies Inc., a manufacturer of novel orthopedic internal fixation devices, announced the official launch of its sales campaign.
Noninvasive Electrical Bone Growth Stimulators segment in the global bone growth stimulators market was valued at US$ 660.1 Mn in 2018 and is expected to reach US$ 1,528.3 Mn by 2027 at a CAGR of 9.8%% during the forecast period.
Market Trends
There are several insurance cover policies that offer reimbursement for electrical and ultrasound bone growth stimulators for non-union or delayed union fractures. Some of these include, Regence, United Healthcare, Humana, Aetna, and Blue Cross.
Increasing R&D bone growth stimulation is expected to boost growth of the market. For instance, in August 208, in the study ‘Osteogenic Effect of ZnO-Mesoporous Glasses Loaded with Osteostatin’, researchers from Instituto de Investigación Hospital, assessed the biological consequences of the concurrent inclusion of ZnO and osteostatin impregnation in mesoporous bioactive glasses – a family of bioceramics that are clinically used as scaffolds for bone regeneration.
Global Bone Growth Stimulators Market: Competitive Landscape
Major players operating in the global bone growth stimulators market include, DJO LLC, Orthofix International N.V., Zimmer Biomet Holdings Inc., Elizur, Bioventus LLC., Precyse Solutions LLC., Ossatec Benelux BV, Verve Consulting Inc., and IGEA S.p.A.
Key players in the market are focused on product launch and approval to expand their product portfolio. For instance, in November 2019, 4WEB Medical, an orthopedic device company, announced the initial launch and completion of the first procedures with the Cervical Spine Truss System-Stand Alone (CSTS-SA). The 3D printed truss design of the implants stimulate bone growth.
Key players in the market are also focused on adopting collaboration and partnership strategies to enhance their market share. For instance, in December 2019, Bone Bank Allografts (BBA), a provider of regenerative medicine technologies, announced partnership with Yankee Alliance, a group purchasing organization (GPO). The agreement covers BBA’s comprehensive portfolio of orthobiologics that include surgical allograft options from traditional bone and soft tissues to specialty custom products for transplant.
𝐂𝐡𝐫𝐢𝐬𝐭𝐦𝐚𝐬 𝐒𝐚𝐥𝐞 𝐈𝐬 𝐋𝐢𝐯𝐞!
𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐨 𝐀𝐯𝐚𝐢𝐥 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐅𝐫𝐨𝐦 𝟐𝟓-𝟑𝟎% 𝐭𝐢𝐥𝐥 𝟑𝟏-𝐃𝐞𝐜-𝟐𝟎𝟐𝟏
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Bone Growth Stimulator Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Bone Growth Stimulator Industry Impact
Chapter 2 Global Bone Growth Stimulator Competition by Types, Applications, and Top Regions and Countries
2.1 Global Bone Growth Stimulator (Volume and Value) by Type
2.3 Global Bone Growth Stimulator (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Bone Growth Stimulator Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Bone Growth Stimulator Market Analysis
Chapter 6 East Asia Bone Growth Stimulator Market Analysis
Chapter 7 Europe Bone Growth Stimulator Market Analysis
Chapter 8 South Asia Bone Growth Stimulator Market Analysis
Chapter 9 Southeast Asia Bone Growth Stimulator Market Analysis
Chapter 10 Middle East Bone Growth Stimulator Market Analysis
Chapter 11 Africa Bone Growth Stimulator Market Analysis
Chapter 12 Oceania Bone Growth Stimulator Market Analysis
Chapter 13 South America Bone Growth Stimulator Market Analysis
Chapter 14 Company Profiles and Key Figures in Bone Growth Stimulator Business
Chapter 15 Global Bone Growth Stimulator Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology
Continued….
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