Bone Growth Stimulator Market Worth $1.41 billion | Growing Patient Preference for Noninvasive and Minimally Invasive Surgical Treatments

PUNE, India, 2020-May-22 — /EPR Network/ —

[153 Pages Report] The Global Bone Growth Stimulator Market is estimated to reach USD 1.41 billion, at a CAGR of 5.4% during the forecast period.

Procedural benefits offered by bone stimulation devices in bone fracture treatment

Bone growth stimulation devices offer a cost-effective and safer alternative mode to treat orthopedic diseases as compared to traditional surgical therapies for nonunion bone fractures. These devices have been reported to shorten the patient’s hospital stay as well as lessen the risks of complications and infections. This is expected to aid the adoption of bone growth stimulation products among key end users. This is also augmented by clinical evidence that validates the clinical efficacy of bone growth stimulation products in the effective and rapid bone regeneration as compared to traditional methodologies.

As of 2015, the average treatment cost saving for diabetes patients in the U.S. being treated with electrical bone growth stimulation (EBGS) devices was reported to be ~USD 4,800 and USD 3,000 as compared to non-stimulation based treatment and low-intensity pulsed Ultrasound stimulation (LIPUS) treatment, respectively (Source: Journal of Diabetes & Metabolism, 2013).

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Industry Segmentation in Depth:

On the basis of product, the global bone growth stimulator market is segmented into bone growth stimulation devices, bone morphogenetic protein (BMPs), and platelet-rich plasma (PRP). The bone growth stimulation devices segment is expected to account for the largest market share in 2016. This can primarily be attributed to the growing aging population globally, rising preference for non-surgical treatment procedures, and growing prevalence of nonunion fractures.

On the basis of application, the global bone growth stimulators market is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, dental and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment is expected to grow at the highest CAGR during 2017 to 2022, owing to the growing geriatric population, rising number of spine procedures (and rate of spinal fusion failure), established safety and efficacy of stimulators in fusion surgery, and increasing use of bone growth stimulation products.

Major Market Developments:

• In 2017, Orthofix International N.V. received CE and FDA approval for its next-generation bone growth stimulators, namely, Cervical-Stim and Spinal- Stim. These devices are used to stimulate and enhance natural healing process of the body post spinal fusion operation.
• In 2016, Bioventus LLC, launched its Ultrasound Bone Healing System, EXOGEN in Saudi Arabia. The product is used in the treatment of delayed unions, non-unions, and joint fusion

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On the basis of region, this bone growth stimulators market is classified into North America, Europe, Asia-Pacific, and the Rest of the World. The global bone growth stimulators market was dominated by North America mainly due to the growing elderly population, increasing incidence of arthritis and sports injuries, adoption of novel treatment options, and rising demand for minimally invasive spinal surgeries.

Orthofix International N.V. (U.S.), DJO Finance LLC (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Bioventus LLC (U.S.), Medtronic plc (Ireland), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), and Harvest Technologies Corporation (U.S.) are some of the key players in the bone growth stimulators market.