Bone Growth Stimulator Market - Global Industry Leaders & Growth Strategies Adopted

 The growth of the global bone growth stimulators market can be attributed to factors such as increasing research activities for the development of novel bone growth stimulators devices, growing demand for bone growth stimulators in spinal fusion surgeries, delayed union and nonunion bone fractures, oral and maxillofacial surgeries applications; the rising number of bone-related diseases.


Currently, Bone Growth Stimulators Market size is projected to reach USD 1.8 billion by 2027, at a CAGR of 5.9% from 2022 to 2027. The growing demand for bone growth stimulators in spinal fusion surgeries, delayed union and nonunion bone fractures applications and the increasing demand for bone growth stimulator devices are the major driving factors of this market.

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Drivers:

Minimally invasive therapeutic procedures are increasingly being preferred owing to their benefits, such as painless treatment, reduced postoperative hospital stay, reduced surgical trauma, limited tissue scarring, reduced surgical risks, improved patient care, shorter postoperative recovery periods, and greater affordability. These procedures are used for a broad range of spinal disorders, such as spondylosis/spondylolisthesis, stenosis, pseudarthrosis, fractures, trauma, and bone healing.

Opportunity:

Platelet-rich plasma (PRP) is increasingly being used in various therapeutic areas as the first-line therapy for various orthopedic conditions, such as musculoskeletal injuries, arthritis, and chronic tendinitis. This can primarily be attributed to the effective tissue growth capabilities and the advantages offered by PRP (such as no or fewer immunogenic reactions or disease transfer as it is prepared from autologous blood). PRP-based therapy is noninvasive, clinically safer, and helps in faster patient recovery as compared to conventional surgical therapies.

Challenge:

Although BMPs are increasingly being used in spinal fusion and bone healing, they are associated with certain side effects. Tissue swelling, male infertility, and implant dislodgement are the major side effects associated with BMPs during spinal fusion surgery. During bone healing, BMPs are reported to cause antigenic reactions and stimulation of oncogenes. Medtronic reported several clinical complications associated with its BMP product during its use in spinal fusion surgeries for bone healing.

The prominent players operating in the bone growth stimulators market are Orthofix Medical Inc. (US), Enovis (DJO Finance, LLC) (US), ZimVie (US), Bioventus LLC (US), Medtronic plc (Ireland), Stryker (US), DePuy Synthes (US), Arthrex, Inc. (US), Isto Biologics (US Terumo Corporation (Japan), Ember Therapeutics, Inc. (US), Ossatec Benelux Ltd. (Netherlands), Altis Biologics (Pty) Ltd. (South Africa), Regen Lab SA (Switzerland), ITO Co., Ltd. (Japan), Elizur Corporation (US), BTT Health GmbH (Germany), Stimulate Health (Canada), VQ OrthoCare (US), and Kinex Medical Company, LLC (US).

Orthofix Medical Inc. (US), held the leading position in the bone growth stimulators market in 2021. The company offers an exhaustive product portfolio consisting of bone growth stimulators. The has strong geographic presence in North America, Europe and Asia. The company’s strong heritage of leadership and innovation has provided a solid foundation for the continued development of safe and cost-effective products.

ZimVie (US) held second position in the bone growth stimulators market in 2021. The company provides its robust portfolio of bone growth stimulator applications. The company focuses on inorganic strategies such as acquisitions, partnerships and collaboration to strengthen their position. Moreover, the company has strong geographic presence in across the 70 countries and a strong direct and indirect distribution network.

Envois Corporation (US) is held the third largest share of bone growth stimulators market in  2021. The company has strong product portfolio of bone growth stimulators market. The company is focusing on growth strategies like product launches and acquisitions to enhance its customer base and market penetration will further increase its market share in the near future.

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Geographical Growth Scenario:

The global bone growth stimulators market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated bone growth stimulators market. The largest share can be attributed to increasing spinal fusion surgeries, delayed union and nonunion bone fractures, and growing demand of bone growth stimulator devices.

Recent Developments

·         In 2022, Orthofix Medical Inc. (US) received FDA premarket approval for the AccelStim Bone Growth Stimulation Device.

·         In 2021, The company announced the competition of its spinoff of ZimVie. The spinoff marks a major milestone in the active portfolio management of Zimmer Biomet.

Content Source:

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https://www.prnewswire.com/news-releases/bone-growth-stimulator-market-worth-1-8-billion-by-2027--exclusive-report-by-marketsandmarkets-301646033.html

https://www.globenewswire.com/news-release/2022/11/25/2562658/0/en/Bone-Growth-Stimulator-Market-worth-1-8-billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html

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