[153 Pages Report] The global bone growth stimulator market is estimated to reach USD 1.41 billion by 2022 from 1.03 billion at a CAGR of 5.4% during the forecast period. The growing patient preference for non-invasive and minimally invasive surgical treatments, increasing target patient population, and procedural benefits offered by bone stimulation devices in bone fracture treatments are some key factors propelling the growth of this market. However, limited medical reimbursement for bone stimulation products and high treatment costs associated with BMP and PRP products may hinder the growth of this market during the forecast period.

Market Dynamics

Drivers

Growing patient preference for noninvasive and minimally invasive surgical treatments

Increasing target patient population

Procedural benefits offered by bone stimulation devices in bone fracture treatment

Restraints

Limited medical reimbursement for bone stimulation products

High treatment costs associated with BMP and PRP products

Opportunity

Emerging markets

Challenges

Lawsuits filed against major market players affecting the brand value

Side effects associated with BMP-based orthopedic treatment

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). Similarly, a research study was undertaken among adult patients diagnosed with a nonunion bone fracture between July 2006 and September 2009 in the U.S. This research study estimates the per patient healthcare expenditure for nonunion fractures treatment with EBGS devices to be USD 21,632 as compared to USD 23,843 and USD 23,964 for non-stimulation based treatment and LIPUS treatment, respectively (Source: Orthopedic Research and Reviews, 2013). Significant cost advantages offered by these devices is expected to further drive their market demand in the coming years.

The following are the major objectives of the study

To define, describe, and forecast the global bone growth stimulator market on the basis of product, application, and end user

To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market

To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

To provide market size for various segments of the bone growth stimulator market with respect to four main geographies, namely, North America (U.S. and Canada), Europe (Germany, France, the U.K., and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), and Rest of the World

To strategically profile the key players and comprehensively analyze their market shares and core competencies2 in the global bone growth stimulator industry

To track and analyze competitive developments such as product launches, agreements, partnerships, mergers & acquisitions, and research and development activities in the global bone growth stimulator market

During this research study, major players operating in the bone growth stimulator market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

To know about the assumptions considered for the study, download the pdf brochure

Orthofix International N.V. (U.S.), Medtronic plc (Ireland), and Zimmer Biomet Holdings, Inc. (U.S.) are some of the key players in the bone growth stimulators market. Over the past three years, these players have adopted product launches & enhancements, strategic acquisitions, and market expansions as their core business strategies to ensure dominance in this market. DJO Finance LLC (U.S.), Bioventus LLC (U.S.), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), Isto Biologics (U.S.), and Harvest Technologies Corporation (U.S.) were few other key players operating in the market.

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

In 2015, Zimmer Holdings merged with Biomet, Inc., a U.S.-based company engaged in the development of musculoskeletal medical products. This merger helped both companies to expand their footprints in the global musculoskeletal devices market and strengthen its position in the bone stimulators market.

Target Audience

Bone growth stimulation products manufacturing companies

Healthcare institutions (hospitals and outpatient clinics)

Distributors and suppliers

Research laboratories and academic institutions

Government and regulatory authorities

Non-government and other associations/organizations

Market research and consulting firms

Contract research organizations (CROS) and contract manufacturing organizations (CMOS)

Scope of the report

This research report categorizes the bone growth stimulator market into the following segments:

Bone Growth Stimulator Market, by Product

Bone Growth Stimulation Devices

External Bone Growth Stimulators

Combined Magnetic Field (CMF) Devices

Capacitive Coupling (CC) Devices

Pulsed Electromagnetic Field (PEMF) Devices

Implanted Bone Growth Stimulators

Ultrasonic Bone Growth Stimulators

Bone Morphogenetic Proteins (BMP)

Platelet-rich Plasma (PRP)

Bone Growth Stimulator Market, by End User

Hospitals and Clinics

Home Care

Academic & Research Institutes and CROs

Bone Growth Stimulators Market, by Application

Spinal Fusion Surgeries

Delayed Union & Nonunion Bone Fractures

Oral and Maxillofacial Surgeries

Other Applications

Bone Growth Stimulator Market, by Region

North America U.S. Canada

Europe Germany France U.K. RoE

Asia-Pacific Japan China India RoAPAC

Rest of the World

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. The following customization options are available for the bone growth stimulator market report:

Product Analysis

Product Matrix, which gives a detailed comparison of the product portfolios of the top five companies

Company Information

Detailed analysis and profiling of additional market players (Up to 5)

Growing patient preference for noninvasive and minimally invasive surgical treatments and increasing target patient population are the key factors driving the growth of the global bone growth stimulator market. Furthermore, procedural benefits offered by bone stimulation devices are also fueling the market growth.

Bone growth stimulators include the medical devices (external and internal bone growth stimulators) and biologics (PRP and BMP); that are used during or post or after orthopedic treatments related to bone regeneration (including spine fusion surgery, bone fractures, and bone grafts, among others) in order to enhance the bone healing process.

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.

On the basis of end user, the global bone growth stimulators market is segmented into hospitals & clinics, home care, and academic & research institutes and CROs. In 2016, the hospitals & clinics segment accounted for the largest of the market. The advantages of bone growth stimulation products over their counterparts are the key factor driving their adoption in this end-user segment.

The market is dominated by North America, followed by Europe, Asia, and the Rest of the World. North America is expected to dominate the market in 2016. Asia is expected to grow at a highest CAGR during the forecast period. Factors such as large population base, improving healthcare infrastructure and the rising prevalence of obesity and spinal disorders are key factors driving market growth in the Asia-Pacific region.

Hospitals and Clinics Form the Fastest Growing End User Segment.

Hospitals

This segment includes both government and private hospitals that provide treatment or conduct surgeries related to spine, oral and maxillofacial, nonunion/delayed union fractures and dental practices. An increasing patient population, rising procedural volumes of spinal fusion surgeries, growing prevalence of spinal disorders, and growing awareness on bone growth stimulation products are aiding the growth of this segment.

Home care

Home care end users segment include patients who use external bone growth stimulators based on a physician�s prescription. Physicians recommend these stimulators to patients who have undergone spinal fusion surgery or are suffering from bone fractures that have failed to heal in the normal period of time (delayed or nonunion fracture). This segment is expected to witness growth due to rising physician preference for bone growth stimulators over their counterparts, cost-effectiveness of external stimulators in the case of nonunion fractures, government recommendations for the use of external stimulators, and the availability of reimbursement and insurance coverage.

Academic & Research Institutes and CROs

This end-user segment mainly uses bone growth stimulation products for research purposes. Growing research activity related to bone growth stimulation products to expand their applications and establish their clinical efficacy is the key factor driving the growth of this end-user segment.

Critical questions the report answers:

What are the key growth strategies adopted by major global players to strengthen their market position across emerging and established regions?

Greater clinical applications of PRP kits for early orthopedic recovery is an emerging market trend. What revenue impact will it have in the coming years on the overall bone growth stimulator industry?

Emerging countries have immense opportunities for the growth of bone growth stimulators, will this scenario continue?

Limited availability of medical reimbursements for bone growth stimulation products and High treatment costs associated with BMP and PRP products are expected to restrain the growth of the bone growth stimulators market in the coming years.

Orthofix International N.V. (U.S.), Medtronic plc (Ireland), Zimmer Biomet Holdings, Inc. (U.S.), DJO Finance LLC (U.S.), Bioventus LLC (U.S.), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), Isto Biologics (U.S.), and Harvest Technologies Corporation (U.S.) are some of the players operating the Bone Growth Stimulators Market .

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