Bone Growth Stimulator Market Worth $1.5 billion – Global Key Players, Trends, Industry Size & Forecast

Bone Growth Stimulator Market

According to the new market research report “Bone Growth Stimulator Market by Product (Device (Implant, External), Bone Morphogenetic Protein, PRP), Application (Spinal Fusion, Delayed Union, Non-union Bone Fracture, Maxillofacial Surgery), Care Setting (Hospital, Homecare) – Global Forecasts to 2026″, published by MarketsandMarkets™, the global bone growth stimulation devices market is projected to reach USD 1.5 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 5.8% during the forecast period.

Growth Driver: Growing patient preference for non-invasive and minimally invasive surgical treatments;

The demand for minimally invasive procedures has witnessed a significant increase owing to the advantages offered by these procedures over traditional treatment procedures. The key advantages of minimally invasive procedures include fewer operative complications, shorter hospitalization, less pain, smaller and more cosmetic incisions, lower risk of infection, reduced postoperative care, and quicker recovery. Minimally invasive procedures make use of advanced technologies to diagnose and treat various diseases, including cancer. These procedures are used as an effective approach for removing cancer tumors and lymph nodes without scarring.

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Bone Growth Stimulator Market

Asia Pacific likely to emerge as the fastest-growing BGS market.

Geographically, the emerging Asian countries, such as China, India, Japan and Singapore, are offering high-growth opportunities for Bone Growth Stimulator Market players. The Asia Pacific point of care market is projected to grow at the highest CAGR of 8.7% from 2021 to 2026. Expansion of healthcare infrastructure and increase in disposable personal income, increase patient population with orthopedic disease, are factors likely to support the growth of market in the region.

The prominent players operating in the global Bone Growth Stimulator Market include Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (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 Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India) among others.

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The spinal fusion surgeries segment to witness the highest growth rate in the bone growth stimulator market.

Spinal fusion surgeries are conducted to connect two or more vertebrae permanently and eliminate motion between them. Bone growth stimulation products are used during or post surgeries to stimulate the natural bone growth process. The growth of this segment can be attributed to the growing geriatric population, the rising number of spine procedures, the established safety and efficacy of stimulators in fusion surgery, and the increasing use of bone growth stimulation products.

The Hospitals segment accounted for the largest share of the BGS Market.

The Bone growth stimulation products are used in hospitals for various applications, including spine surgeries, oral and maxillofacial surgeries, dental practices, and bone fractures. Hospitals & ASCs accounted for the largest share of the bone growth stimulators market in 2021. The advantages of bone growth stimulation products over their counterparts, the rising patient population, growing procedural volumes of spinal fusion surgeries, growing prevalence of spinal disorders, and growing awareness on bone growth stimulation products are the key factors driving the growth of the BGS Market for hospitals & ASCs.

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