Global Bone Growth Stimulators Market to Reach $1.27 Billion by 2026

SAN FRANCISCO, June 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Bone Growth Stimulators - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 6; Released: January 2021
Executive Engagements: 11672
Companies: 62 - Players covered include Arthrex, Inc.; Bioventus LLC; DePuy Synthes Companies; Elizur Corporation; Medtronic plc; Orthofix International N.V; Ossatec Benelux B.V.; Stryker Corporation; Synergy Orthopedics; Terumo Corporation; Zimmer Biomet Holdings Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product (Stimulation Devices, Bone Morphogenetic Proteins (BMP), Platelet-rich Plasma (PRP)); Application (Spinal Fusion Surgeries, Delayed Union & Nonunion Bone Fractures, Oral & Maxillofacial Surgeries, Other Applications); End-Use (Hospitals, Orthopedic Clinics, Home Care, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Bone Growth Stimulators Market to Reach $1.27 Billion by 2026
Bone growth stimulation represents a therapy that aids bone healing following a fracture and spinal fusion surgical process. Growth in the market is facilitated by factors such as aging population, increasing cases of orthopedic conditions such as osteoporosis, degenerative joint disorders, and preference for minimally or non-invasive surgeries. Rising incidence of orthopedic disorders coupled with high uptake of the therapy in healthcare facilities also ensure steady growth opportunities in the market. The market growth is anticipated to be also favored by increasing cases of accidents and trauma. Road accidents along with trauma hold the risk of causing serious spinal injuries and delayed union and non-union fractures, requiring people to undergo surgeries. Bone growth stimulators promote bone healing during treatments for union and non-union fractures, fresh fractures and failed spinal fusions by applying electrical current or ultrasonic waves to the fusion site. Rising incident of vertebral fracture and associated complications is also expected to drive demand for bone growth stimulators. These devices are anticipated to be extensively used to treat delayed union & non-union bone fractures, which account for significant share of the market.

Amid the COVID-19 crisis, the global market for Bone Growth Stimulators estimated at US$999.4 Million in the year 2020, is projected to reach a revised size of US$1.27 Billion by 2026, growing at a CAGR of 4.2% over the analysis period. Stimulation Devices, one of the segments analyzed in the report, is projected to grow at a 4.3% CAGR to reach US$739 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Bone Morphogenetic Proteins (BMP) segment is readjusted to a revised 3.8% CAGR for the next 7-year period. This segment currently accounts for a 35.1% share of the global Bone Growth Stimulators market. Bone growth stimulation devices comprise external bone growth stimulators, implanted bone growth stimulators, and Ultrasonic bone growth stimulators. External bone growth stimulators represent portable devices intended to be worn by a patient on the skin using straps for securing them. Ultrasound bone growth stimulators is a noninvasive intervention, designed to transmit low-density, pulsed, high-frequency acoustic pressure waves to improve healing of fresh fractures and promote healing of delayed unions and non-unions.

The U.S. Market is Estimated at $527.7 Million in 2021, While China is Forecast to Reach $83.9 Million by 2026
The Bone Growth Stimulators market in the U.S. is estimated at US$527.7 Million in the year 2021. The country currently accounts for a 51.34% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$83.9 Million in the year 2026 trailing a CAGR of 6.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR while Rest of European market (as defined in the study) will reach US$89.5 Million by the end of the analysis period. The US dominates market growth in the North America region, given the rising demand of the treatment for spinal fusion and fracture cases and increasing awareness regarding PEMF-based external devices. The regional market holds the leading share due to supportive reimbursement policies, technological advances and the presence of major orthopedic device makers. Future growth of the US bone growth stimulators market is likely to be propelled by increasing adoption of these devices coupled with rising number of US FDA approvals in the recent years. Growth in the Asia-Pacific region is being driven by increasing incidence of orthopedic disorders and rising adoption of non-invasive therapies for bone growth stimulation.

Platelet-Rich Plasma (PRP) Segment to Reach $129.7 Million by 2026
Platelet-rich plasma (PRP) is a concentrate of platelet-rich plasma protein extracted from whole blood, centrifuged to eliminate red blood cells. The idea of platelet rich plasma is intended to help patients in enhancing the healing process. Surgeons using the approach focus on a specific part of a patient's blood sample that is placed on the surgical site for expediting bone healing. In the global Platelet-Rich Plasma (PRP) segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$81.2 Million in the year 2020 will reach a projected size of US$111.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.5 Million by the year 2026, while Latin America will expand at a 6% CAGR through the analysis period. More

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