Bone Growth Stimulator Market: Shares, Strategies and Forecasts, Analysis and Overview upto 2025
Bone growth stimulation, or BGS, is a type of therapy which is often used to aid in the healing process after a fracture or spinal fusion surgery. BGS or bone growth stimulation can help in promoting quicker healing in fractures which make take longer duration to heal by the natural healing process. Bone growth stimulator also known as osteogenesis stimulators devices provide pain-free ultrasound or electrical stimulation and is generally recommended by orthopedists to help in faster bone healing. Human bones have an innate ability to heal on their own if there is any spinal fusion process, surgery, and injury. Bone growth stimulators devices work by releasing either a low-level pulsed ultrasonic energy or pulsed electromagnetic field. The energy field fuels bone growth process by helping repair the damaged body tissues and increase the cell formation and maturity process, leading to improved bone density.
The major factor contributing to the growth of the bone growth stimulator market is the rising inclination of patients towards minimally invasive and non-invasive surgical treatments and growing population of obese and diabetic population. Elderly population is particularly vulnerable to bone related injuries and fractures. Globally the number of elderly population- people aged 60 years or over has grown significantly in most of the countries in the recent years and that this growth is anticipated to accelerate in the coming years. According to United Nations 2015 report, globally the number of people aged 60 years or more were 901 million in 2015 from 607 million observed in 2000. The elderly population is slated to increase by 56% to 1.4 billion by 2030 and is projected increase twofold from its size in 2015, reaching nearly 2.1 billion by 2050. Thus the growing aging population is anticipated to propel the growth of the market during the forecast period. Additionally, the cost benefits offered by the bone stimulation devices for bone fracture treatments are some of the key factors driving the growth of bone growth stimulator market. On the contrary, side effects associated with orthopedic treatment and legal litigations against market players are some of the restraining factors that could affect the growth of the bone growth stimulator market during the forecast period.
The global bone growth stimulator market is segmented based on product type, by application, by end user type and by geography. In terms of product type, bone growth stimulator market is categorized into external and implantable devices. In terms of application, the market is classified into delayed nonunion and union bone fractures, spinal fusion surgeries, maxillofacial and dental surgeries. Based on end-user type, the bone growth stimulators market is classified into specialty clinics, homecare settings, and hospitals.
Geographically global bone growth stimulators market is segmented into North America, Europe, Asia Pacific, Latin America & Middle East and Africa. North America accounted for the largest share of the market due to improved reimbursement policies and upsurge in the investments in healthcare-service sector. The region is projected to maintain its lead in terms of overall market share primarily due to the growing awareness levels among the population regarding chronic injuries and bone fractures, and the growing investments by major manufacturers in research and development of technologically advanced devices. Asia Pacific is expected to witness the fastest growth rate due to increasing elderly population in the region. The high percentage of elderly population in developing countries such as China and Japan are increasing the incidences of bone fractures & spinal fusion surgical procedures in the Asia Pacific region
To maintain a significant position in the market the key players in the global bone growth stimulators market are operating strategies such as mergers and acquisitions, cost effective and efficient products, collaborative partnerships etc. The major players reported in the market include Orthofix International N.V, Zimmer Biomet Holdings Inc., Bioventus LLC., Synergy Orthopedics, ITO Physiotherapy & Rehabilitation, DePuy Synthes Spine, Inc., DJO Global, Inc Ossatec Benelux Ltd., and Orchid Medical.
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