Bone Growth Stimulator Market

Market Leader - Bone Growth Stimulator Market

The global Bone growth stimulator market size is projected to reach USD 1.5 billion by 2026 from USD 1.1 billion in 2021, at a CAGR of 5.8% during the forecast period. The growing patient preference for non-invasive and minimally invasive surgical treatments, the rising prevalence of target conditions, and the growing number of sports and accident-related orthopedic injuries are the key factors driving the growth of the bone growth stimulators market. However, limited medical reimbursement for bone stimulation devices, high treatment costs associated with BMP and PRP products, and side effects associated with BMP-based orthopedic treatment are the key factors restraining the growth of this market

Some of the prominent players operating in the Bone growth stimulator market are Orthofix Medical, Inc. (US), DJO Finance, LLC (US), Zimmer Biomet (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 Inc. (Canada), VQ OrthoCare (US), Kinex Medical Company, LLC (US), Fintek Bio-Electric Inc. (Canada), Biomedical Tissue Technologies Pty Ltd. (Germany), T-Biotechnology (Turkey), DrPRP America LLC (US), Ivy Sports Medicine, LLC (US), Glofinn Oy (Finland), and REMI GROUP (India).

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The analysis of market developments between 2018 and 2021 revealed that several growth strategies such as research collaborations and partnerships were adopted by market players to strengthen their product portfolios and maintain a competitive position in the  Bone growth stimulator market

Orthofix Medical

Orthofix Medical is among the leading players in the bone stimulators market. The company plans to invest in basic science and clinical and evidence-based research to support broader indications for its stimulation products. The company’s portfolio of bone growth stimulators includes SpinalStim and CervicalStim. The CervicalStim stimulator is the only FDA-approved bone growth stimulator in the market used for cervical fusion. The company also focuses on R&D activities in collaboration with leading clinical organizations such as the Musculoskeletal Transplant Foundation (US), the Orthopedic Research and Education Foundation (US), and the Texas Scottish Rite Hospital for Children (US).
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DePuy Synthes

DePuy Synthes is one of the leading developers and manufacturers of bone growth stimulation products, soft tissue repair devices, joint movement solutions, and minimally invasive and arthroscopic solutions. DePuy Synthes has a strong product portfolio, supporting around one million orthopedic and neuro procedures worldwide. A majority of the sales of the company’s bone growth stimulation products were generated from the US, and only 40% of its sales were generated outside of the US in 2019. The company could focus on expanding its presence in Europe, Asia, and the Middle East in order to reduce dependence on the US market.

Stryker

Stryker is a leader in the medical technology industry. The company’s products are sold in approximately 100 countries through company-owned sales subsidiaries and branches as well as third-party dealers and distributors. Stryker has a very strong and innovative portfolio of bone growth stimulators, which is a key factor for the company’s strong position in this market. Its strong brand recognition, extensive product portfolio, and strong geographical presence provide the company an edge over its competitors in the bone growth stimulators market.

The company mainly focuses on inorganic growth strategies to gain a competitive edge in the market. The acquisition of the US-based Wright Medical Group (US) in 2020 further strengthened the company’s position in the bone growth stimulators market

Bioventus

Bioventus is among the leading players in the active orthopedic healing segment. The company was formed as a joint venture between Smith & Nephew plc (UK) and Essex Woodlands (US) in 2012. The company has a wide geographic presence with international offices in Australia, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Norway, Poland, Sweden, and the UK. The company has a headcount of 660 employees worldwide. Some of its major subsidiaries are ArthroCare Corporation (US), Smith & Nephew (Overseas) Limited (UK), Smith & Nephew (Pty) Limited (South Africa), Smith & Nephew ESN Limited (UK), Smith & Nephew Business Services GmbH & Co. KG. (Germany), and Smith & Nephew B.V. (Netherlands).

Medtronic plc

Medtronic plc is a medical technology company engaged in the development, manufacturing, and marketing of medical devices, therapies, and services for the treatment of cardiovascular diseases, spinal conditions, neurological disorders, and diabetes. The company serves customers in approximately 160 countries across the globe. Some of its major subsidiaries include Medtronic Pty. Ltd. (South Africa), Medtronic AG (Switzerland), Medtronic China, Ltd., and Medtronic Ablation Frontiers LLC (US).

Related Reports:

Bone Growth Stimulator Market by Product (Device (Implant, External), Bone Morphogenetic Protein, PRP), Application (Spinal Fusion, Delayed Union, Non-union Bone Fracture, Maxillofacial Surgery), Care Setting (Hospital, Homecare) - Global Forecasts to 2026

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Report Code
MD 5234
RI Published ON
7/23/2021
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