Bone growth stimulators are used for re-growing bones or fixing bone injuries in cases where the fractured bone’s self-healing process gets delayed. These stimulators enhance the healing process without any feeling of discomfort to the patient. An internal bone growth stimulator is fitted in for about six to 12 months, while an external bone growth stimulator is suggested to be worn for two to nine hours on a regular basis for about three to nine months. According to the research report, the global bone growth stimulators market is expected to expand at a CAGR of 9.5% between 2015 and 2025 to reach a market valuation of US$2,502.0 mn by 2025.
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Non-invasive Bone Growth Stimulators to Lead Overall Market
The global bone growth stimulators market has been segmented on the basis of product, application, end user, and region. The products available in this market are non-invasive electrical bone growth stimulators, invasive electrical bone growth stimulators, and ultrasound bone growth stimulators. Currently, the non-invasive bone growth stimulators product segment holds the leading position in the overall market and is anticipated to continue its dominance in the coming few years. This segment is further divided into pulsed ultrasound magnetic field devices, combined magnetic field devices, and capacitive coupling devices.
Home Care and Orthopedic Clinics Segments Show Significant Growth
The end users of bone stimulators are hospitals, ambulatory surgical centers, home care, and orthopedic clinics. In the recent past, hospitals were seen to be the biggest users of bone growth stimulators. However, in the near future, this end user segment is expected to show an average growth rate. On the other hand, the home care and orthopedic clinics segments are poised to witness a significant growth rate in the coming years.
The applications of bone growth stimulators are seen in areas such as spinal fusion, osteogenesis, and trauma injury and fractures. The trauma injury and fractures segment is anticipated to surge at a significant growth rate in the near future as against other segments.
North America to be Biggest Consumer of Bone Growth Stimulators
Geographically, this market is segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan, the Middle East and Africa, and Japan. The high rate of consumer awareness about chronic pain due to bone injury or fracture in North America is expected to keep the region at the forefront of the global bone growth stimulators market.
The second significant region in the overall market is Western Europe. This regional market is expected to grow due to the supportive healthcare systems and subsidies from governments. Furthermore, increasing awareness of bone growth stimulators amongst patients due to the considerable penetration of the Internet is also expected to help this market to progress in the forecast period.
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Researchers predict that Europe and the Americas will together account for a share of 77.8% in the overall market by the end of the forecast period. Meanwhile, the Middle East and Africa will also receive a huge boost as mortality rates drop, health care expenditures increase, and life expectancy improves.
Some of the important players dictating the competitive landscape of the global are Ossatec Benelux BV, DJO LLC, Orthofix International N.V., Elizur, Verve Consulting Inc., Bioventus LLC., IGEA S.p.A, and Zimmer Biomet Holdings Inc.