The global bone growth stimulator market size is expected to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc. Escalating demand for noninvasive and minimally invasive treatments is a major factor estimated to boost market growth during the forecast period. Some advantages offered by minimally invasive surgeries are smaller incisions, low risk of infections, speedy recovery, shorter stay at the hospital, reduced scarring, and minimal blood loss during surgery. Thus, there is high adoption of Bone Morphogenetic Proteins (BMP) and Platelet-rich Plasma (PRP) for minimally invasive spinal and orthopedic surgeries, which is expected to boost market growth.
Rising number of trauma and accident cases is another major factor projected to support growth of the bone growth stimulator market. According to WHO, around 20 to 50 million people are injured every year due to road accidents. Road accidents and trauma are likely to result in severe spinal injuries as well as delayed union or nonunion of bone fractures, which is projected to drive demand for bone growth stimulators.
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Further Key Findings From the Report Suggest:
Bone growth stimulation devices segment was the largest revenue grossing segment of the market in 2016 owing to high demand for noninvasive treatments by patients as well as product advancements
PRP segment is estimated to grow at the highest CAGR during the forecast period owing to its growing popularity for bone and soft tissue healing, as well as its favorable safety profile and potential promising outcome for development of regenerative treatments
In the application segment, the spinal fusion surgeries segment accounted for the largest share in 2016 and is projected to maintain its dominance during the forecast period owing to escalating number of spinal injuries, fractures, and spinal stenosis
The hospitals segment accounted for the largest share in the overall market and is expected to maintain its dominance during the study period due to escalating number of admissions of patients suffering from traumatic injuries, road accidents, spinal injuries, and bone fractures
North America dominated the overall market in 2016 mainly due to the existence of several leading medical device companies in this region and highly developed healthcare infrastructure
The Asia Pacific bone growth stimulator market is projected to grow at the highest rate during the forecast period. Rising number road accidents and developing healthcare infrastructure in Asian countries, including China, India, and Indonesia, are major factors contributing to growth in this region
Some of the major players are Orthofix Holdings, Inc.; Medtronic; Zimmer Biomet; DJO Global, Inc; Bioventus; Stryker; DePuy Synthes Companies; Arthrex, Inc.; Isto Biologics; and Terumo BCT, Inc.