[Research Report] The Bone Growth Stimulator market size is projected to grow from US$ 1562.48 million in 2022 to US$ 2445.64 million by 2031; it is estimated to record a CAGR of 5.77% during 2022–2031.

Market Insights and Analyst View:

A bone stimulator is a device that generates an electric current that enhances bone growth. It uses pulsed electromagnetic or ultrasonic waves. It is important to use a bone stimulator every day for effective treatment. ‌Bone stimulators have two types: external and surgically implanted into the affected bone area. External bone growth stimulators are portable devices that one can wear on the outside of the body (even over a cast or brace) using straps to secure them in place. External stimulators can also be placed about anywhere on the body or over the site of a bone fracture. Internal bone growth stimulators are surgically implanted. Orthopedic doctors often prescribe bone growth stimulation following a spinal fusion surgery (lumbar or cervical).  

Factors that positively affect the Bone Growth Stimulator Market are the growing burden of bone and joint disorders across the globe, which boosts the need for Bone Growth Stimulator. Also, the rising demand for non-invasive or minimally invasive surgeries and the increasing aging population are driving investment in the Bone Growth Stimulator market.      

Growth Drivers:

The geriatric population has been rising significantly worldwide. The rise in geriatric population in developed countries such as the US, the UK, Canada, and Japan, and developing countries such as China, India, and South Korea is driven by the modernization of healthcare facilities and improvements in healthcare services, which has boosted the life expectancy in these countries. An increase in life expectancy is leading to a rising geriatric population globally. According to the data presented by the World Health Organization (WHO) in February 2021, the geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. In addition, according to the US Census Bureau, the number of people in the US aged 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060; their population share would increase from ~15% to ~24% during this period. According to the United Nations World Population Ageing 2017 report, in 2017, Europe had the highest percentage of people over the age of 60 (25%). Other regions of the world are also experiencing accelerated aging. By 2050, all regions except Africa will have approximately a quarter or more of their populations aged 60 and over. The geriatric population in the world is anticipated to reach US$ 1.4 billion, US$ 2.1 billion, and above USD 3.1 billion by 2031, 2050, and 2100, respectively. Moreover, underdeveloped and developing countries would account for ~80% of this growth.

The incidence rate of osteoporosis among the elderly population is high, and age is one of the important reasons for the occurrence of a spinal fracture. With growing age, bones become thinner and stronger. In osteoporosis disease, bones become weaker and are more likely to break. As the population ages, the demand for total knee osteoarthritis (TKA) is projected to increase among people in their eighties.

Therefore, due to the increasing geriatric population and the surging incidence of osteoporosis, the bone growth stimulator market is anticipated to witness significant growth.  

Strategic Insights

Report Segmentation and Scope:

The “Bone Growth Stimulator Market” is segmented on the basis of device, application, end user, and geography. Based on product, the Bone Growth Stimulator market is segmented into devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). The device segment is segmented as external bone devices, ultrasonic bone growth stimulators, and implantable bone growth stimulators. The external bone devices segment is segmented as capacitive coupling (CC) devices hair sprays, combined magnetic field devices (CMF), pulsed electromagnetic field devices (PEMF), and ultrasound devices. In terms of application, the Bone Growth Stimulator market is segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and others. Based on the end user, the Bone Growth Stimulator market market is categorized into hospitals & clinics, ambulatory surgery centers, and others. The Bone Growth Stimulator market, based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Segmental Analysis:

The Bone Growth Stimulator market based on product is segmented into devices, bone morphogenetic proteins (BMP), and platelet-rich plasma (PRP). The devices segment is divided into external bone devices, ultrasonic bone growth stimulators, and implantable bone growth stimulators.

The external bone devices segment is segmented as capacitive coupling (CC) devices hair sprays, combined magnetic field devices (CMF), pulsed electromagnetic field devices (PEMF), and ultrasound devices.

The devices segment held the largest share of the market in 2022 and is estimated to register the highest CAGR in the market during 2022-2031. With the increasing approvals of new designs of devices and technologically advanced devices, the ease of use and healing of bone surfaces is growing. Thus, the adoption of devices is increasing. For instance, In August 2022, Theragen received a U.S. Patent acknowledging its innovative approach to the development of the ActaStim-S Spine Fusion Bone Growth Stimulator system. ActaStim-S blends clinically demonstrated therapeutic stimulation with a data-rich digital health platform and modern design. The system promotes healing and encourages patient engagement, compliance, and informed dialogue with healthcare providers during the lengthy and critical post-operative fusion process. With new device launches, the device segment is expected to hold a significant share of the bone growth stimulator market.

Based on application, the Bone Growth Stimulator Market is segmented into spinal fusion surgeries, delayed union & non-union bone fractures, oral and maxillofacial surgeries, and others. The spinal fusion surgeries segment held the largest market share in 2022 and is anticipated to grow at the fastest rate from 2022 to 2031.

Spinal fusion is becoming increasingly common given the geriatric population, as globally, spinal fusion incidence for degenerative indications has exponentially grown. Patients who use the bone growth stimulator for spinal fusion are twice as likely to have their bones fused successfully. These devices send low-level pulses of electromagnetic energy to stimulate the natural bone healing process, which is essential for the success of the surgery. In addition to treating a failed fusion, bone growth stimulators lower the chances of revision surgery.

Based on the end user, the Bone Growth Stimulator market is segmented into hospitals & clinics, Ambulatory Surgery Centers, and Others.

The hospitals & clinics segment held the largest Bone Growth Stimulator market share in 2022. However, the medical spas segment is anticipated to register the highest CAGR during 2022-2031. In hospitals, various Bone Growth Stimulator surgeries are performed on people suffering from bone diseases. Orthopedic hospitals include facilities such as a range of sub-specialty physicians who focus on orthopedic spine conditions and also specialize in joint orthopedics, pediatric orthopedics, sports medicine, and orthopedic oncology. The orthopedic hospitals also focus on inpatient facilities. The inpatient services provided by the hospitals focus on the admission of patients for several days after the surgical procedure. Complex orthopedic surgeries requiring special care are performed in hospitals since they require more monitoring and advanced technologies. Most orthopedic surgeries are performed in hospitals, owing to the continuous patient care and monitoring. Thus, the abovementioned factors are likely to drive the growth of the segment during the forecast period. The higher prevalence of bone diseases primarily drives the growth of the Bone Growth Stimulator market in Asia-Pacific, the growing aging population, the growing demand for minimally invasive surgeries, and developments by the market players in the Asia-Pacific region. 

The aging population of Japan largely experiences the occurrence of degenerative spinal disorders. For instance, according to Japan’s Super-Aging Society in 2021, Japan's senior population (aged 65 and over) reached 35.89 million, accounting for 28.4 % of Japan’s population. The senior population (aged 65 and above) is predicted to reach 37.16 million by 2031, accounting for 31.2 % of Japan's population. Thus, the increasing aging population elevates the demand for orthopedic procedures, which is boosting the Bone Growth Stimulator Market growth for healing.

Regional Analysis:

Based on geography, the Bone Growth Stimulator Market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. North America is likely to capture a significant share of the global market in 2022. The market growth in the region is attributed to the rising prevalence of bone diseases, technological advancement in new product development for bone growth, and increasing R&D activities. In addition, a growing number of market players are expanding their geographical footprint in North American countries. In North America, the US holds a significant share of the Bone Growth Stimulator Market. The growth of the market in the country is primarily driven by the increasing aging population in the US, the growing prevalence of arthritis, and the increasing number of sports injuries. For instance, As per the Centers for Disease Control and Prevention, around 23% of the US population has arthritis. In 2021, 1 in 4 adults in the United States had arthritis. According to the National Osteoporosis Foundation (NOF), in the United States, in 2021, approximately 10.2 million people aged 50 years and older had osteoporosis. Most of these people are women, but about 2 million are men. Just over 43 million more people, including 16 million men, have low bone mass. The incidence of vertebral compression fractures (VCFs) increases markedly with age. It is one of the most common sequels of osteoporosis, comprising almost half of all osteoporotic fractures in the US annually.       

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the global Bone Growth Stimulator Market are listed below: 

1. In May 2023, Orthofix Medical Inc. announced that the STIM onTrack mobile app for use with the Company’s bone growth stimulators was recognized as the “Best Patient Engagement Mobile App” by Medtech Breakthrough. This independent market intelligence company recognizes the top companies, products, and technologies in the global medical and health technology market.
2. In October 2022, Theragen received its 2nd U.S. patent in 3 months. The latest patent acknowledges ActaStim-S' contemporary design, the first spine fusion, new post-op, and bone growth stimulator in decades. Theragen's latest patent (U.S. 11,426,574) recognizes ActaStim-S' innovative design focused on providing excellent ease of use. This recognition is significant as bone stim technology relies on consistent therapeutic use to improve outcomes. ActaStim's wearability is necessary to support usage. Also, its complimentary Sync App can be advantageous in sustaining it by informing patients of their activity levels, usage, and pain entry reporting.  
3. In August 2022, Theragen received a U.S. Patent acknowledging its innovative approach to the development of the ActaStim-S Spine Fusion Bone Growth Stimulator system. ActaStim-S blends clinically demonstrated therapeutic stimulation with a data-rich digital health platform and modern design. The system promotes healing and encourages patient engagement, compliance, and informed dialogue with healthcare providers during the lengthy and critical post-operative fusion process.  
4. In February 2021, Orthofix Medical Inc., the U.S. Food and Drug Administration (FDA) approved the STIM onTrack mobile app version 2.1 for use with the Company’s bone growth stimulators. The STIM onTrack technology works with the Orthofix Bone Growth Therapy devices. The mobile device app is an accessory designed to help patients stick to their prescriptions and enhance their clinical outcomes.

Competitive Landscape and Key Companies:

Zimmer Biomet, Bioventus, Synergy Orthopedics, Ito Co., Ltd., Boston Scientific Corporation, BTL, Cyberonics, Inc., DJO LLC, and Medtronic are the major Bone Growth Stimulator companies. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide.