Bone Growth Stimulator Market By Product (Stimulation Devices, Bone Morphogenetic Proteins, Platelet-Rich Plasma), By Application, By End Use, By Region, And Segment Forecasts, 2018 - 2025

Industry Insights

The global bone growth stimulator market size was estimated at USD 1.0 billion in 2016. Increasing prevalence of arthritis globally is a major factor contributing toward growth of the market. Rising prevalence of arthritis due to aging and obesity are leading factors contributing to the growth of the market. Aging individuals are the most susceptible to osteoarthritis and gouty arthritis. As stated by Arthritis Foundation, over 50 million Americans were suffering from arthritis in 2016, and this number is expected to reach78.4 million by 2040. Thus, widespread occurrence of arthritis is driving demand for these products.

Growing number of trauma and accident cases is considered as one of the high impact rendering drivers likely to boost demand for the products. According to CDC, annually, around 41 million people in the U.S visit the emergency department with traumatic injuries. Road accidents and trauma are likely to result in several severe spinal injuries as well as delayed union & nonunion fractures, which require surgical treatment.These devices promote healing of bones during treatment of failed spinal fusions, delayed unions, fracture nonunion, and fresh fractures by applying ultrasonic or electrical current to the fusion site.

Bone Morphogenetic Proteins (BMP) and Platelet-rich Plasma (PRP) products assist in bone growth during treatment of various fractures and spinal surgeries. Thus, adoption of these products is anticipated to increase during these surgeries due to faster healing resulting in quick recovery. Hence, with rising number of accidents and trauma cases, the number of spinal and orthopedic surgeries is increasing. This rise has further accelerated demand for these devices, BMP, and PRP products, which is projected to drive market growth.

Frequent product recalls have been observed to hamper overall growth of the market. Recall of products has an adverse effect on a manufacturer’s business and reputation. This could also affect loyalty of the customers to other products of a company. In addition, recalls also question the efficiency of new products, and thereby, delay their adoption by surgeons. For instance, in May 2017, Zimmer Biomet’s SpF XL IIb and SpF PLUS-Mini implantable spinal stimulators were recalled and FDA classified it as a Class I recall. This recall was initiated owing to potentially harmful chemicals that could lead to serious adverse effects, including paralysis, chronic infections, and death.

Product Insights

In 2016, the external devices segment accounted for the largest share of the market owing to increase in demand for noninvasive surgical treatments for bone healing. In addition, these devices are usually lightweight, battery powered, portable, and easy to handle, as a result, they are being increasingly adopted by patients.

In addition, availability of advanced products, such asCMF OL1000 Bone Growth Stimulators and CMF SpinaLogic Bone Growth Stimulators, is expected to boost the market development. Moreover, external stimulator devices are less expensive as compared to invasive internal devices, which is projected to increase their adoption in developing countries such as South Africa, India, and China.

The BMP and PRP segment is expected to exhibit lucrative growth over the forecast period owing to rising incidence of arthritis, spinal injuries, and trauma & accident cases. According to CDC, annually, around 54.4 million adults in the U.S. had some form of rheumatoid arthritis, arthritis, lupus, gout, or fibromyalgia from 2013 to 2015. In addition, PRP has high safety, lower adverse effects, and no risk of allergic reaction, and these factors are expected to boost the growth of the segment.

There are several leading vendors, including Medtronic; Stryker; DePuy Synthes Companies; Arthrex, Inc.; Bioventus LLC; and TERUMO BCT, INC. that provide advanced devices for treatment of spinal fusion, delayed fracture union, nonunion bone fractures, etc.

Application Insights

The spinal fusion surgeries segment dominated the market in terms of revenue in 2016. Increased incidence of spinal cord injuries such as fractures, spinal stenosis, and herniated disc injuries has led to increased demand for spinal fusion surgeries across the globe. According to WHO, worldwide, around 250,000 to 500,000 people suffer from spinal cord injuries annually, mainly because of road accidents, falls, and violence.

Moreover, increasing incidence of age-related spinal problems and fractures are driving market. Ageing leads to lowering of bone density and weakening of bones due to excessive loss of bone mass, and this is likely to result in fractures & spinal problems. According to the U.S. Census Bureau, around 617.1 million people were aged 65 years and older in 2015, and this number is expected to reach about 1,000.0 million by 2030. Surge in geriatric population prone to osteoarthritis conditions is primarily driving demand for these products globally.

The delayed union and nonunion bone fracture segment is expected to grow at a significant rate during the study period. There is high prevalence ofosteoporosis that causes pain and debilitating fractures, which is expected to propel market growth. According to the International Osteoporosis Foundation, osteoporosis causes about 8.9 million fractures annually. In addition, around 1.6 million hip fractures take place globally each year, and this number is projected to reach between 4.5 and 6.3 million by 2050.

Manufacturers are focusing on launch of new and advanced products to cater to unmet needs of healthcare professionals and patients. For instance, in January 2017, Orthofix International N.V. announced approval of CervicalStim and SpinalStim, bone growth stimulators used for postoperative spinal fusion, by U.S. FDA and European Commission (CE Mark). These devices deploy a low-level pulsed electromagnetic field that activates and enhances natural healing process of the body.

End-use Insights

Hospitals and clinics held the largest market share owing to increasing admission of patients suffering from traumatic injuries, road accidents, spinal injuries, and fractures. Thus, this segment dominated the market in 2016 owing to high patient turnaround and frequent readmissions for surgery and other treatments.

Furthermore, increasing focus on development of healthcare infrastructure in developing countries of Asia Pacific and African regions is expected to propel the growth of the segment. Rising disposable income and availability of advanced medical devices for treatment of different chronic diseases are expected to boost usage of these products in hospitals and clinics.

The homecare segment is expected to showcase lucrative growth during the forecast period due to product advancements and rising healthcare awareness among people. These devices are lightweight & portable and can be easily handled by patients at home for management of arthritis, fractures, acute & chronic pain, and osteoporosis. Thus, availability of advanced noninvasive products is projected to drive adoption of these home-use products.

The other end-use segment consists of research institutes and ambulatory surgical centers. This segment is projected to witness lucrative CAGR during the forecast period owing to substantial rise in the number of spine fusion surgeries performed in ambulatory surgical centers. In addition, research institutes are actively involved in study of BMP and PRP to improve and increase their clinical applications, which is anticipated to propel growth.

Regional Insights

North America dominated the market with the largest revenue share owing to high prevalence of osteoporosis or vertebral fractures. According to American Association of Neurological Surgeons, in the U.S., 8 million women are suffering from osteoporosis and 25% of women are estimated to be affected by Vertebral Compression Fractures (VCFs). Increase in prevalence of osteoporosis and VCFs has led to a rise in demand for bone growth stimulators used for enhanced healing, which boosts market growth.

Europe was the second largest market for bone growth stimulators due to high demand for innovative therapies for chronic diseases and local presence of leading medical device manufacturers such as Medtronic; Orthofix Holdings, Inc.; Zimmer Biomet; Bioventus; Stryker; and Terumo BCT, Inc. In addition, highly developed healthcare infrastructure primarily in Germany, Switzerland, the UK, and France is expected to drive the regional market.

Asia Pacific region is expected to exhibit highest CAGR during the study period due growing number of road accidents and trauma cases. According to World Road Statistics, around 5,00,279 road accidents occurred in 2015 in India as compared to 4,93,474 in 2014, representing a 1.4% increase in the number of injuries. Thus, large number road accidents in India supports demand for these products.

Competitive Insights

The bone growth stimulator market is fragmented, with presence of a large number of local and global players. Several big companies operating in the industry are Orthofix Holdings, Inc.; Medtronic; Zimmer Biomet; DJO Global, Inc; Bioventus LLC; Stryker; DePuy Synthes; Arthrex, Inc.; Isto Biologics; and Terumo BCT, Inc. Major manufacturers provide advanced products through strong distribution channels across the globe. For instance, Medtronic has presence in around 260 locations globally in more than 150 countries.

Leading players are involved in strategic collaborations, mergers & acquisitions, and new product development to gain revenue share in the industry. Strategic collaborations and mergers & acquisitions help companies expand their existing business and geographical reach. For instance, in May 2016, Zimmer Biomet completed the acquisition of Cayenne Medical, Inc. —a leading developer of advanced soft tissue repair as well as reconstruction solutions for shoulders, knees, and extremities.

Report Scope

Segments covered in the report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global bone growth stimulator market on the basis of product, application, end use, and region:

• Product Outlook (Revenue, USD Million; 2014- 2025)

  • Bone growth stimulation devices

    • External bone growth stimulators

      • Combined Magnetic Field (CMF) devices

      • Capacitive Coupling (CC) devices

      • Pulsed Electromagnetic Field (PEMF) devices

    • Implanted bone growth stimulators

    • Ultrasonic bone growth stimulators

  • Bone Morphogenetic Proteins (BMP)

  • Platelet-Rich Plasma (PRP)

• Application Outlook (Revenue, USD Million; 2014 - 2025)

  • Spinal fusion surgeries

  • Delayed union & nonunion bone fractures

  • Oral and maxillofacial surgeries

  • Others

• End-use Outlook (Revenue, USD Million; 2014 - 2025)

  • Hospitals and clinics

  • Home care

  • Others

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia