Global Bone Growth Stimulators Market Report and Forecast 2024-2032

Global Bone Growth Stimulators Market Outlook

The global bone growth stimulator market value was USD 1.79 billion in 2023, driven by the increasing prevalence of orthopedic conditions across the globe. The global market share is anticipated to grow at a CAGR of 5.4% during the forecast period of 2024-2032 to achieve a value of USD 2.88 billion by 2032.

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Growing Cases of Arthritis, Osteoporosis, and Accidental Injuries to Bolster the Growth of Bone Growth Stimulators Industry

A bone growth stimulator is medical equipment that is used predominantly to treat fractures that do not show any progressive signs of healing. As bone-related injuries are common during sports, athletes use bone healing devices, such as bone simulators, for effective and fast treatment. Moreover, poor lifestyles and unhealthy eating choices among the global population are weakening the bones. This is increasing the risk for bone-related issues such as fractures, hence aiding the market growth. Additionally, rising cases of clinical conditions such as arthritis and osteoporosis owing to the surging geriatric population, especially in developed countries, are boosting the market growth. The vulnerability to fractures increases with age; thus, the growing geriatric population is also contributing to the growth of global bone growth stimulators industry.

Bone Growth Stimulators: Market Segmentation

A bone growth stimulator is an electrical device that is used to induce the growth of new bone after spinal fusion surgery. The body’s natural healing process produces electrical currents, and the stimulator augments these currents to treat various bone-related adversaries.

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Based on product, the market is segmented into:

• Bone Growth Stimulation Devices
  • External BGS
  • Implanted BGS
  • Ultrasonic BGS
• Bone Morphogenetic Proteins (BMP)
• Platelet-Rich Plasma

The major applications of bone growth stimulators are:

• Spinal Fusion Surgeries
• Delayed Union and Non-union Bone Fractures
• Oral and Maxillofacial Surgeries
• Others

On the basis of end uses, the market is divided into:

• Hospitals
• Ambulatory Surgical Centres
• Speciality Clinics
• Others

The EMR report looks into the regional markets of bone growth stimulators like North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Technological Advancement Propelling the Growth of Bone Growth Stimulators Industry

In many cases, the process of bone healing requires intervention by medical professionals. The products recommended by medical professionals for these conditions include bone growth stimulators. Bone growth stimulators work by encouraging several receptors in the patient’s body to enhance the healing response, hence propelling the market growth. It is a faster way of healing, due to which it is preferred instead of medications. Technological advancement and development in the healthcare sector and the rise in government expenditure on healthcare are some of the major factors driving the bone growth stimulators industry. The surge of the geriatric population in Europe and North America is catalysing the rising prevalence of the bone disorder, spinal injuries, and fractures, which is propelling the market growth. Moreover, favourable features of bone growth stimulators, such as their ease of handling, portability, and light weight, are increasing its demand, consequently invigorating the market growth. In addition, the increasing research and development (R&D) activities in the market are expected to further fuel the expansion of the bone growth stimulators industry in the forecast period.

Key Industries Players in the Global Bone Growth Stimulators Market

The report presents a detailed analysis of the following key players in the global bone growth stimulators market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Medtronic
• Bioventus LLC
• Orthofix Medical Inc.
• Zimmer Biomet Holdings Inc.
• DJO, LLC
• Stryker Corporation
• Others

The comprehensive report looks into macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report