(PharmaNewsWire.Com, July 10, 2021 ) The growing patient preference for non-invasive and minimally invasive surgical treatments, increasing target patient population, and procedural benefits offered by bone stimulation devices in bone fracture treatments are some key factors propelling the growth of this market. However, limited medical reimbursement for bone stimulation products and high treatment costs associated with BMP and PRP products may hinder the growth of this market during the forecast period.
Expected Revenue Surge: The Global Bone Growth Stimulators Market is estimated to reach USD 1.41 billion, at a CAGR of 5.4% during the forecast period.
Procedural benefits offered by bone stimulation devices in bone fracture treatment
Bone growth stimulation devices offer a cost-effective and safer alternative mode to treat orthopedic diseases as compared to traditional surgical therapies for nonunion bone fractures. These devices have been reported to shorten the patient’s hospital stay as well as lessen the risks of complications and infections.
As of 2015, the average treatment cost saving for diabetes patients in the U.S. being treated with electrical bone growth stimulation (EBGS) devices was reported to be ~USD 4,800 and USD 3,000 as compared to non-stimulation based treatment and low-intensity pulsed Ultrasound stimulation (LIPUS) treatment, respectively (Source: Journal of Diabetes & Metabolism, 2013). Similarly, a research study was undertaken among adult patients diagnosed with a nonunion bone fracture between July 2006 and September 2009 in the U.S.
The global bone growth stimulators market is segmented into spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries, and other applications. The spinal fusion surgeries segment accounted for the largest share of the market in 2016. The large share of this segment is attributed to the growing geriatric population, rising number of spine procedures (and rate of spinal fusion failure), established safety and efficacy of stimulators in fusion surgery, and increasing use of bone growth stimulation products.
Hospitals and Clinics Form the Fastest Growing End User Segment;
Hospitals;
This segment includes both government and private hospitals that provide treatment or conduct surgeries related to spine, oral and maxillofacial, nonunion/delayed union fractures and dental practices. An increasing patient population, rising procedural volumes of spinal fusion surgeries, growing prevalence of spinal disorders, and growing awareness on bone growth stimulation products are aiding the growth of this segment.
Geographically; Classified into North America, Europe, Asia-Pacific, and the Rest of the World. The global bone growth stimulators market was dominated by North America mainly due to the growing elderly population, increasing incidence of arthritis and sports injuries, adoption of novel treatment options, and rising demand for minimally invasive spinal surgeries.
However, the Asia-Pacific Bone Growth Stimulator Market is expected to grow at the highest CAGR. This is primarily due to the presence of a large patient population for target diseases (coupled with rapidly growing geriatric population, especially in Japan and China), rising awareness among healthcare professionals related to novel and upcoming treatment options, and ongoing government initiatives to modernize & expand healthcare infrastructure.
Orthofix International N.V. (U.S.), DJO Finance LLC (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Bioventus LLC (U.S.), Medtronic plc (Ireland), Stryker Corporation (U.S.), DePuy Synthes (U.S.), Arthrex, Inc. (U.S.), and Harvest Technologies Corporation (U.S.) are some of the key players in the bone growth stimulators market.
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