The Global Bone
growth stimulator market will grow at a CAGR of 5.8% during the forecast period to
reach USD 1,397.6 million by 2022, according to the latest publication from
Meticulous Research®.
The bone growth stimulator market driven
by growing geriatric population with the prevalence of orthopedic issues and
rising preference for stimulation treatments. Moreover, emerging economies such
as Latin America, Asia, and Africa provides significant opportunities in this
market. However, complications associated with the use of bone morphogenetic
proteins (BMP) and unfavorable reimbursement scenario related to bone growth
stimulators hinders the growth of the market to some extent.
The global
bone growth stimulator market is mainly segmented by product, (bone growth
stimulation devices, bone morphogenetic proteins, and platelet rich plasma), by
application, (spinal fusion surgeries, delayed union & non-union fractures,
oral and maxillofacial surgeries, and others), by end user (hospitals &
clinics, academic and research institutes, contract research organizations, and
home care), and geography.
Based on product type, bone growth
stimulation devices held the largest share of the market in 2016 and expected
to continue its dominance in the global bone growth stimulator market during
the forecast period, owing to rising adoption of external & implanted
stimulators for the accurate treatment therapy with increasing incidence &
prevalence of orthopedic problems with aging population, growing need for cost
effective & easy accessible medical devices, rising number of road
accidents & trauma, reducing complications associated with bone surgeries,
and increasing secondary diseased conditions such as obesity & diabetes.
On the basis of application, spinal
fusion surgeries held the largest share in the global bone growth stimulator
market in 2016. This was mainly attributed to rising number of spine procedures
with increasing risk of orthopedic problems, increasing bone related injuries
by growing number of road accidents, trauma and sport activities, growing pain
from degenerative disc disorder with instability, and rising adoption of bone
growth stimulation products due to decreasing normal bone healing process with
increase in the age.
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Based on end user, hospitals &
clinics commanded the largest share in 2016 due to continuous increase in the
number of spinal fusion and orthopedic surgeries performed in the hospital
settings, and related increase in the demand for bone growth stimulators from
these healthcare organizations to enhance the bone healing process of their
patients.
The key players in the global bone
growth stimulator market are Orthofix International N.V. (U.S.), DJO Global,
Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Medtronic, plc (Ireland),
Johnson & Johnson (U.S.), Stryker Corporation (U.S.), Bioventus Inc.
(U.S.), Arthrex, Inc. (U.S.), ISTO Biologics (U.S.), Ossatec Benelux Ltd.
(Netherland), Regen Lab SA (Switzerland), ITO CO., Ltd. (Japan), Altis
Biologics (Pty) Ltd (South Africa), and Harvest Technologies Corporation
(U.S.).
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