Global Bone Growth Stimulator Market Is Set For Rapid Growth
Jun 08, 2019 08:40
Due to the increased awareness about the non-invasive technique of stimulating bone growth, high incidence of fracture and delay in bone healing, there would be rapid growth in global growth stimulator market.
Bone Growth Stimulator
Bone growth is an important consideration when it comes to the healing of a fracture of the bone disorder. Normally, the fracture is healing through a normal process of formation of bone cells by increased activity of osteoblasts. However, in certain cases, the bone healing process or the bone forming process becomes ineffective. This results in either the delayed bone union or the bone do not heal at all, a condition called as non-union. This condition can occur either in a fracture or any surgery such as spinal fusion surgery. Thus, the option is required that increases the speed of bone cell formation and speed-up the healing. Bone Growth Stimulators is one of the best non-invasive approaches to stimulate bone healing. Commonly used bone growth stimulators are electrical stimulators and ultrasound stimulators.
The bone growth stimulator device is battery operated system which is placed near the site of injury. The patient has to wear the device for a sufficient amount of time that ranges from few minutes to few hours. Electromagnetic or ultrasound impulses are generated by these devices, which initiates a cascade in the body. This cascade results in the release of chemicals that aids in speeding up the process of bone healing.
Global Bone Growth Stimulation Market
Global bone stimulator market in 2019 is over $ 1 billion. The growth of this market in the next 10 years would be around 5% CAGR. At present, the developed markets like Europe and North America have the largest market share. Both of these regions will continue to dominate the market over the next few years.
The bone growth stimulator market is divided into various categories. The products related to this segment includes Bone Morphogenetic Proteins (BMP), Pulsed Electromagnetic Field (PEMF), Devices Bone Growth Stimulation Devices, Combined Magnetic Field (CMF) Devices, Capacitive Coupling (CC) Devices, Ultrasonic Bone Growth Stimulators, External Bone Growth Stimulators, Platelet-rich Plasma (PRP), and Implanted Bone Growth Stimulators. The market is also divided on the basis of end users which ultimately uses these growth stimulants. These include Clinical Research Organizations, Academic institutes, research institutes, Hospitals, clinics, and home care. The bone growth stimulators are used in various types of surgeries. These include Delayed Union & Nonunion Bone Fractures, Oral and Maxillofacial Surgeries, and Spinal Fusion Surgeries.
The companies which will impact the market are Medtronic plc, DJO Finance LLC, Stryker Corporation, Orthofix Holdings, Inc, DePuy Synthes, Arthrex, Inc., Zimmer Biomet Holdings, Inc., Isto Biologics, Bioventus LLC and Harvest Technologies Corporation.
Drivers For Rapid Growth For Bone Growth Stimulator Market
The global bone growth stimulator market would see robust growth in the next 5-10 years. Various factors will drive this growth. These factors are:
Increased awareness: Further, more information about the non-invasive treatment and their benefits are circulated in the market by the manufacturing and marketing companies that will help to boost the growth of this market.
Increased number of older people: There is a progressive growth in the people of higher age, leading to various diseases. The primary diseases related to the bone would be osteoarthritis and osteoporosis. Increased occurrence of these diseases is also a driver for the growth of this particular segment.
Increased risk of fracture: As there would be more people with osteoporosis and osteoarthritis, there would be an increased incidence of fractures. Post-menopausal osteoporosis in women is the primary cause of fracture due to osteoporosis. Increased fracture cases will boost this market.
Patient Friendly devices: Due to the technological advancement in the next few years, more and more patient-friendly devices would be introduced in the market. High-tech devices such as low-intensity ultrasound stimulator and electrical bone growth stimulator are already dominating the market. The companies which come with innovative and patient-friendly options will rule the market. Research for spinal fusion surgery and other bone surgery will allow companies to come up with technologically high-end products.
Delayed bone healing: Out of the total fracture occurring in the US, approximately 10% are non-unions or delayed unions. This results in delayed healing of fractures. Further, in the older age, the activity of osteoblasts, the bone-forming cells, gets reduced leading to delayed healing. This will increase the sales of bone growth stimulator devices.
Increased non-invasive treatment: Due to the availability of a non-invasive method of bone healing, the invasive method should be opted by a smaller number of patients and would be opted if essential. The technological advancement coupled with increased dissemination of product information fuels the growth of this market.
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