Global Bone Growth Stimulator Market is Estimated to Witness High Growth Owing to Aging Population and Rising Sports Injuries
The Global Bone Growth Stimulator Market is estimated to be valued at USD 1.20 Bn in 2024, exhibiting a CAGR of 5.2% over the forecast period (2024-2031). The aging population is increasing globally, leading to a rise in musculoskeletal conditions which is expected to boost the demand for bone growth stimulators.
Market Dynamics:
Demographic shifts around the world have created a significant aging population prone to fractures and injuries. According to the World Health Organization, over 1.5 billion people globally will be aged over 60 years by 2050. The market is also expected to witness growth due to the rising number of sports-related injuries among the younger population. Bone growth stimulators aid in faster recovery from fractures and promote bone healing. Devices such as capacitive coupling stimulators and pulsed electromagnetic field stimulators provide non-invasive treatment options for bone repair. Furthermore, increasing healthcare expenditure and awareness among people regarding treatment alternatives for bone regeneration will significantly contribute to revenue growth over the forecast period.
Aging Population and Increasing Osteoporosis Cases are Driving the Demand for Bone Growth Stimulators
The global bone growth stimulator market is being driven by the rapidly aging population and the growing prevalence of osteoporosis worldwide. Osteoporosis is a disease characterized by reduced bone density and strength, leading to an increased risk of fractures. As people get older, their bones gradually lose density, making them more prone to fractures from minor falls or injuries. Bone growth stimulators help speed up the healing of fractures and promote new bone formation, making them highly valuable for osteoporosis patients. The rising geriatric population susceptible to age-related bone diseases is a key factor boosting demand.
Advancements in Bone Growth Stimulator Technologies are Enhancing their Efficacy and Expanding their applications
Continuous technological advancements are being made to bone growth stimulators, which is another factor fueling their uptake. Earlier devices used simple pulsed electromagnetic field (PEMF) or capacitive coupling (CC) technology but newer ones employ advanced pulsed ultrasound (PUS) which has been proven to be safer and more effective. Implantable bone growth stimulators with programmable chips are also being developed which can deliver personalized stimulations. Emerging technologies like low-intensity pulsed ultrasound (LIPUS) have expanded their usage beyond spinal fusions to treat challenging fractures and non-union bone breaks. Their applications are growing from orthopedic trauma to dental and craniofacial surgeries. Improved efficacy, customized therapy options, and new areas of usage are augmenting the market growth.
High Device Costs Limit Adoption Rates in Price-sensitive Markets
One major challenge restricting the bone growth stimulator market's potential is their high device costs. Bone growth stimulation therapy requires the purchase of an external device that needs to be used for several hours daily over months. This makes the overall treatment expensive. Though partially reimbursed by insurance in developed nations, the out-of-pocket costs remain unaffordable for many. The costs are a far more significant barrier in developing regions and price-sensitive markets where Bone growth stimulation, bone growth stimulation devices are often not covered by insurance. Their high price tags compared to conventional treatment methods discourage uptake rates, particularly in emerging countries. This cost restraint needs to be addressed to penetrate untapped volumes globally.
Lack of Clinical Evidence and Reimbursement Hurdles Limit Widespread Usage
Despite positive research findings, bone growth stimulators have some limitations when it comes to universal clinical acceptance and insurance coverage. There is still a lack of high-level evidence from randomized controlled trials, establishing the efficacy of all available technologies, applications, and treatment regimes. Insurance providers may deny coverage for unproven usages due to this absence of definitive clinical data. Reimbursement policies also vary considerably between countries and private players. In some regions, they may only be authorized for spine fusions and not for other fracture types. Such coverage restrictions curtail their penetration. Overcoming knowledge gaps through further data and obtaining favorable reimbursement policies can help realize the market's revenue potential.
Emerging Markets Present Lucrative Growth Prospects
The bone growth stimulator industry sees immense opportunities in developing economies with their booming healthcare sectors and increasing orthopedic caseloads. Rapid urbanization, changing lifestyles leading to more traumatic injuries, rising life expectancy, and growing orthopedic infrastructure in Asia Pacific and Latin America provide lucrative avenues. But their underpenetrated status means these regions currently account for a low share of global BGS revenues. Aggressive marketing campaigns highlighting the cost-effectiveness of stimulators compared to prolonged hospitalization and delayed recovery can boost adoption. Partnerships with local distributors well-versed with the infrastructure and regulations also help companies tap emerging territories effectively.
Combination with Biologics to Drive the Next Wave of Innovation
The convergence of bone growth stimulation and biologics presents excellent prospective opportunities. Emerging trends involve combining electromagnetic/ultrasound technologies with bone morphogenetic proteins (BMPs), platelet-rich plasma (PRP), stem cells, and bone grafts to develop synergistic dual therapies. This hybridization is proving more effective for complex fractures, non-unions, and high-risk patients. It maximizes new bone formation by supporting cellular activities at injury sites. Many new products integrating stimulators with biologics are in pipeline. Their upcoming commercialization will likely spur fresh demand.
Link - https://www.coherentmarketinsights.com/market-insight/bone-growth-stimulator-market-225
Key Developments:
- In June 2024, Johnson & Johnson MedTech, a division of the global healthcare leader, Johnson & Johnson, announced that DePuy Synthes received U.S. FDA clearance for the VELYS Robotic-Assisted Solution, designed for Unicompartmental Knee Arthroplasty (UKA) procedures, including medial and lateral applications. This advanced technology enables surgeons to achieve precise implant placement without requiring a CT scan.
- In April 2024, Xstim, an innovative developer and manufacturer of advanced bone growth stimulation systems, announced that its non-invasive, wearable spine fusion stimulator received premarket approval from the U.S. FDA. This device supports bone healing following spinal fusion surgery by emitting low-energy signals.
- In February 2024, Orthofix Medical Inc., a medical device company, appointed Mr. Jason Shallenberger as President of Bone Growth Therapies, following significant double-digit growth under his leadership in 2023. Additionally, the company reorganized its Spine and Bone Growth Therapies units to operate under separate Presidents, aligning its structure with its strategic business goals.
- In August 2022, Theragen, a medical device company, announced securing a U.S. patent for its ActaStim-S Spine Fusion Bone Growth Stimulator system. This cutting-edge device combines established therapeutic stimulation techniques with a modern design and a digital health platform, enhancing post-operative healing, patient compliance, and communication with healthcare providers.
Key Player:
Orthofix Medical Inc., Medtronic, Zimmer Biomet, Bioventus Inc., DJO Global, Stryker Corporation, Arthrex Inc., Smith & Nephew, DePuy Synthes, Amedica Corporation, X-spine Systems, BTT Health GmbH, IGEA, Isto Biologics, and Ossatec Benelux
