Over the projection period, rising rates of osteoporosis and osteoarthritis are anticipated to fuel market expansion for bone growth stimulators. For instance, according to a study titled "Epidemiology and awareness of osteoporosis: a viewpoint from the Middle East and North Africa" that was published in the International Journal of Clinical Rheumatology in 2018, osteoporosis prevalence in Turkey was 10.7% in men and 15.1% in women in 2018. Throughout the forecast period, an expanding geriatric population is also anticipated to aid in market expansion. For instance, the National Center for Biotechnology Information projects that by 2050, Egypt will have 130 million people, more than 30% of whom would be over the age of 50. According to the Centers for Disease Control and Prevention, the percentage of the world's population 65 years of age or older is expected to increase from 10% in 2022 to 16% in 2050. From 4.1% in 1900 to 16% in 2019 and more than 17 times that amount in 2022, the percentage of Americans aged 65 and older nearly quadrupled since 1900.
According to Coherent Market Insights, the global market for Bone Growth Stimulators is anticipated to reach US$ 1,678.0 million in 2022 and rise at a 5.6% CAGR over the following five years (2022-2030).
Prominent Players in the Bone Growth Stimulator Industry:
1. DJO LLC
The company was established in 1978 and its main office is in Lewisville, Texas. DJO, LLC sells orthopaedic equipment. A wide variety of surgical reconstructive implant devices are developed, manufactured, and distributed by the company in addition to goods for regeneration, rehabilitation, pain management, and physical therapy.
2. Orthofix International N.V.
The company was established in 1980 and is situated in Texas, United States. Orthofix International N.V. creates, develops, produces, sells, and distributes medical devices primarily utilised for orthopaedic applications by musculoskeletal medical experts. On January 4, 2023, Orthofix and SeaSpine announced that their merger of equals had been completed, creating a major global spine and orthopaedics company.
3. Zimmer Biomet Holdings Inc.
The firm was founded in 1927 and is situated in Warsaw, Indiana, United States. The business creates, develops, produces, and sells medical devices as well as orthopaedic, dental, and spinal reconstructive implants, bone cement, and other surgical supplies. The business declared its desire to purchase Embody, Inc. for $155 million in January 2023. In September 2021, Zimmer Biomet announced significant additions to the "NewCo" leadership team; the transaction to create a new independent, publicly traded company is on schedule.
4. Elizur
The business was established in 1993 and is based in Greensburg, Pennsylvania. The business offers orthopaedic services and goods, including deep vein thrombosis, foot orthotics, pain management tools, prosthetics, at-home rehab tools, and musculoskeletal treatments.
5. Bioventus LLC.
The firm was founded in 2011 and has its headquarters North Carolina, United States. It also provides portable diagnostic systems, osteoarthritis pain relief, bone fracture healing, and ultrasound equipment for bone healing and musculoskeletal ultrasonography. The company develops and markets orthopaedic therapies and diagnostic tools. Bioventus announced in October 2022 that it would exhibit its whole orthobiologics and ultrasonic product line at NASS in Chicago.
6. Precyse Solutions LLC.
The company was founded in 1999 and has its main office in Wayne, Pennsylvania, United States. The business offers departmental outsourcing, medical transcription, clinical coding, oncology data management, HIM consulting, and services for interim management and health information management.
7. Ossatec Benelux BV
The company was established in 1998 and has its headquarters in Netherlands, Belgium. The business develops a variety of bone-related medicines, including those for the treatment of osteoporosis, arthritis, and periodontal disease, as well as bone-related medical equipment and offers R&D services.
8. IGEA S.p.A.
The business was founded in 1980 and has its headquarters in MODENA, Italy. IGEA S.p.A. is a biomedical company that specialises in orthopaedic therapies, oncological therapies, and gene therapies. Medical, surgical, ophthalmic, and veterinary instruments and equipment are among the products the company makes. In JUNE 2022, IGEA Pharma inked a preliminary agreement with LMH, an industrial holding firm, for a Euro 6,000,000 commitment to fund the completion of its Swiss CBD Extraction Facility.
Definition: By administering electrical or ultrasonic current to the fracture/fusion site, bone growth stimulation is used to stimulate bone healing in fractures or fusions that are difficult to heal.
