The bone growth stimulator market is majorly driven by factors such as the rising incidence of bone and joint disorders, growing demand for non-invasive and minimally invasive surgeries across the globe among others.

Globally, osteoarthritis is the most common articular disease of people 65 years and older. It represents the main reason for disability in the United States and it affects approximately more than 20 million Americans and it is expected to become double over the next 10 years. Therefore, increasing prevalence of arthritis, globally, is a major factor contributing to the growth of the market.

A growing number of trauma and accident cases is considered as one of the high-impact factors that are likely to boost the demand for bone growth stimulator products. The National Safety Council has stated that during the year 2018, around 4.5 million people were seriously injured due to the accidents. A large number of accidents indicate the rising demand for bone growth stimulators.

Key Market Trends

External Bone Growth Stimulators are Believed to Register Highest CAGR Over the Forecast Period

The external bone growth stimulators are expected to register the highest growth in the coming future. This is majorly due to the features of these devices such as their lightweight, ease of handling, and portability.

The demand for these products is increasing due to the rising fracture cases and the effectiveness of the external bone growth stimulators in healing fractures. As per the Australian Institute of Health and Welfare, around 23,948 minimal trauma fractures were reported in men aged 50 and above in Australia. Also, the United Kingdom has an incidence of 3.6 fractures per 100 people per year. This indicates the rising burden of fracture on major countries. Therefore, there is a rising demand for the external bone growth stimulators which will contribute to the growth of the same.

North America to Dominate the Market

North America holds the largest share of the bone growth stimulator market. This is majorly attributed to the increasing geriatric population and high prevalence of Arthritis. American Physical Therapy Association has stated that the adult prevalence of Arthritis in the United States is around 27% experiences severe joint pain. Furthermore, around 1 in 4 adults in the United States are likely to suffer from the arthritis. As per the National Institute of Health, around 7.9 million fractures occur every year in the United States and 5–10% of them develop nonunions and/or delayed unions, which is one of the major complications in the treatment of bone fractures.With the burden of Arthritis in the United States, it is expected that the demand for bone growth stimulators will increase which will ultimately boost the market growth.

Competitive Landscape

The bone growth stimulators market is moderately competitive and consists of global players majorly. With the rising burden of orthopedic diseases and the technological advancements, few small to mid-sized companies are also penetrating the market. Also, expansion strategies of the global players are proving to be beneficial for the emerging markets as product availability is increasing.

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