Spine Bone Stimulators Market Report, published by Allied Market Research, forecasts that the global market was valued at $562 million in 2015, and is expected to reach $724 million by 2022, supported by a CAGR of 3.6% during the forecast period 2014 - 2022.
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Spine bone stimulators and spinal instrumentation (plates, rods, and screws) and bone grafts are used during a spinal fusion surgery to enhance the bones healing process. These stimulators send low-level electrical signals to the fusion site, in turn activating the body's natural bone healing process, which gets impaired in at-risk patients, preventing delayed unions or non-union of the spine fractures.
Increase in geriatric population and rise in incidence of osteoporosis and arthritis boost the market growth. However, advent of bone growth-stimulating drugs, fixation instrumentation during fusion and non-union fractures, and high initial cost of these devices are expected to impede the market growth. Non-invasive spine bone stimulators were the highest revenue-generating segment, accounting for more than two-thirds of the spine bone stimulators market.
Key findings of Spine Bone Stimulators Market:
- Non-invasive spine bone stimulators segment is expected to grow at a CAGR of 3.6% during the forecast period.
- Pulsed electromagnetic field device occupied more than three-fifths of the global non-invasive spine bone stimulators market in 2015.
- North America dominated and accounted for nearly two-thirds of the global market in 2015.
- France and Germany collectively accounted for almost one-third of the European spine bone stimulators market in 2015.
- Japan was the major shareholder in Asia-Pacific spine bone stimulators market in 2015, accounting for almost one-third share.
North America accounted for the major share of revenue in 2015, and is expected to maintain its dominance throughout the forecast period. However, Asia-Pacific is projected to be the fastest growing region, registering a CAGR of 4.5%. Improvement in healthcare infrastructure and increase in expenditure in emerging markets (such as India and China) to overcome the unmet medical needs in these countries have supplemented the market growth.
The key players operating in the spine bone stimulators market focus on expanding their business operations in emerging countries with new product launches as a preferred strategy. The major companies profiled in the report include Aetna, Inc., Bioventus LLC, DJO Global, Inc., elizur Corporation, IGEA S.p.A., Medtronic plc, Orchid Medical, Inc., Orthofix International N.V., Ossatec Benelux B.V., Smith & Nephew plc, Verve Consulting Inc., and Zimmer Biomet Holdings, Inc.