Bone Growth Stimulators – Focus on Non-Invasive Procedures and New Indications
Current clinical studies are directed toward addressing quality-of-life issues vis-à-vis advances in non-invasive procedures for patients with long bone non-unions. As healthcare professionals focus more on gaining greater understanding on bone growth stimulation mechanisms through randomized control trials, new indications of bone growth stimulation are gaining centerstage.
Top 2 Factors Shaping the Bone growth stimulators Market
Increasing incidence of bone fractures and delayed bone healing are among factors expected to drive the bone growth stimulator market
The causes of fractures and delayed bone healing are not known. However, they are having a significant economic impact on the bone growth stimulators market. Osteoporosis and osteoarthritis are common joint disorders that lead to disability, which is affecting millions of people across the world. Osteoporosis is a condition that causes bones to become porous & thin and decreases the bone strength, which leads to an increase in the risk of broken bones. Moreover, the progressive demographic ageing of the older population is also expected to boost the bone growth stimulators market.
According to a source of NCBI, it is estimated that approximately 7.9 million fractures occur per year in the U.S., of which 5–10% of them develop non-unions and delayed unions, which causes delayed healing. Various methods are being used for the treatment of fractures, which include surgical repairs, amputations, allografts, and synthetic bone grafts. Non-invasive therapies, such as electrical bone growth stimulation and low-intensity ultrasound stimulation, have been introduced. These devices are approved by FDA and increase the healing process. Moreover, CMS and Medicare have revised there reimbursement policies for bone growth stimulators. In addition, advancements in the technology and higher adoption rates for non-invasive methods have resulted in cost savings.
Increase in the number of non-invasive treatments is boosting the bone growth stimulators market
Manufacturers are developing external devices that are easy to use by patients suffering from delayed bone growth. The market for bone growth stimulators is expected to increase in the future with increase in the consumer acceptance for non-invasive devices. Moreover, companies in the market are upgrading their products. For instance, Orthofix in 2017 launched its Stim on track mobile App that allows physicians to remotely view the progress of patients. Manufacturers are developing bone growth stimulation devices and redesigning them according to the patient needs with improved rechargeable batteries, compact units, and light weight, which is expected to promote better patient compliance in future.
Bone growth stimulators Market Structure Analysis
- The global Bone growth stimulators market represents a consolidated competition landscape, wherein tier 1 companies of the Bone growth stimulators market hold a revenue share of approximately 80%
- Some of the prominent companies in the Bone growth stimulators market include Bioventus LLC, Zimmer Biomet Holdings Inc., Orthofix Holdings, Inc., DJO Global, IGEA, and Ossatec Benelux Ltd.
- Most of the key players are maintaining a strategic focus on the North America and European markets
- Key players of the Bone growth stimulators market are also focusing on introducing mobile applications for their products, which will help physicians remotely view the progress of patients. However, cost-competitiveness will remain a strong differentiation strategy
- Japanese manufacturers, such as Ito Co., Ltd., have been substantially contributing to the revenue growth of the Bone growth stimulators market
Market Set to Grow 1.6X between 2019 and 2029The need for non-surgical treatment has led various advances in bone growth stimulators. Mobile applications that enable reminders and record-keeping, while providing surgeons with real-time data, are one of the popular developments in bone growth stimulator landscape.
Attractiveness of Developed Markets Intact
Faster regulatory approval times, greater contribution from public funding, and transparency in process reviews, recalls & compliance, collectively allude prevailing attractiveness of developed markets for players. Moreover, revision of reimbursement policies by governments in these markets add to lucrativeness of developed regions for the market growth.
* This data is only a representation. Actual data may vary and will be available in report.
The Broader Perspective
Stakeholders continue to take myriad endeavours for enhancing the versatility and convenience of bone growth stimulators. These efforts are focused on reducing treatment and recovery times, and facilitate self-administration of treatment progress for patients.
Non-invasive bone growth stimulators remain the top-selling category, with preference inclined toward pulsed electromagnetic field (PEMF) devices
Invasive bone growth stimulators continue to witness slow adoption.
Treatment of trauma injury and fractures account for largest adoption of bone growth stimulators
Adoption in treatment of osteogenesis and spinal fusion will grow at a relatively higher rate
Hospitals remain the leading end-users, accounting for over 40% sales.
Home care settings also remain attractive for bone growth stimulator sales, estimated to register a relatively higher growth
Gains from orthopaedic clinics are also expected to increase at a significant rate
Ambulatory surgical centres continue to account for low market shares
How Growth will Unfold
Hospitals remain the first preference for care among patients with orthopaedic injuries and long bone non-unions, which in turn has led robust adoption of bone growth stimulators in these settings. However, sales in home care settings and orthopaedic clinics are expected to grow at a higher rate, collectively accounting for over two-fifth market shares.
Hospitals | Home Care Settings | Orthopaedic Clinics
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.