Bone Growth Stimulator Market worth $1.8 billion by 2027 – Exclusive Report by MarketsandMarkets™
Bone Growth Stimulator Market is projected to grow from USD 1.4 billion in 2022 to USD 1.8 billion by 2027, at a CAGR of 5.9% from 2022 to 2027, according to a new report by MarketsandMarkets™. The growth of the global bone growth stimulators market can be attributed to factors such as increasing research activities for the development of novel bone growth stimulators devices, growing demand for bone growth stimulators in spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries applications; the rising number of bone-related diseases.
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The External bone growth stimulators segment accounted for the largest share of the bone growth stimulation devices market, by product type, in 2021
By product type, the global External bone growth stimulators market is segmented into capacitive coupling (CC) devices, pulsed electromagnetic field (PEMF) devices, and combined magnetic field (CMF) devices. In 2021, the Pulsed electromagnetic field (PEMF) segment dominated the global External bone growth stimulators market. The advantages of Pulsed electromagnetic field (PEMF) is the increasing demand for noninvasive electrical bone stimulation the major driving factors for this market.
Spinal Fusion Surgeries segment is anticipated to hold major share of the global bone growth stimulators market in 2021
Based on application, the global bone growth stimulators market is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment accounted for the largest share of the bone growth stimulators market in 2021. This segments large share can be attributed to the increasing number of spine procedures.
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North America to hold a significant share of the bone growth stimulators market during the forecast period
The bone growth stimulators market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the bone growth stimulators market in 2021. This can be attributed to the rising incidence of spinal disorders, increasing geriatric population, and growing patient preference for minimally invasive orthopedic therapies in the region.
The major players operating in the bone growth stimulators market are Orthofix Medical Inc. (US), Enovis (DJO Finance, LLC) (US), ZimVie (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health (Canada), VQ OrthoCare (US), and Kinex Medical Company, LLC (US).
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