Spine Bone Stimulators Market Research, 2030
The global spine bone stimulators market size was valued at $487.80 million in 2020, and is projected to reach $665.55 million by 2030, growing at a CAGR of 3.2% from 2021 to 2030.
Bone stimulator is a crucial and spinal fusion procedure, which is used to enhance the bone’s healing process. A bone stimulator, may be internal or external, is a small device that delivers low-voltage electrical currents directly to the spinal area where bone growth (spine fusion) is about to occur. Typically, these devices are worn after spine fusion. Spine bone stimulator is used during a spinal fusion. Spine bone stimulators are used during a spinal fusion surgery along with spinal instrumentation (plates, rods, and screws) and bone grafts. 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 and preventing delayed unions or non-union of the spine fractures.
The key factors that drive the spine bone stimulators market growth include factors such as rise in the incidence of spinal cord disorder. According to report given by united spinal association in August 2020, there are approximately 296,000 Americans currently living with spinal cord injury, and about 17,900 new spinal cord injury cases are reported each year and about 78% of new spinal cord injury cases are male. According to spine bone stimulators market analysis, surge in geriatric population boost the spine bone stimulators market growth. For instance, as per report share by Bloomberg quint in August 2020, the old age dependency ratio has increased. That ratio has surged from 14.2% in 2011 to 15.7% in 2021 as per projections. It is expected to rise to 20.1% by 2031. In addition, rise in awareness of newly developed technologies and upsurge in healthcare expenditure have significantly boosted the market growth.
There are some restraints for the spine bone stimulators industry, which are availability substitute, fixation instrumentation during fusion & non-union fractures, and high initial cost of these devices.
Rapid escalation in geriatric population, increase in incidence of spinal deformities, and upsurge in need for adequate healthcare facilities are expected to drive the demand for spinal bone stimulators in the near future. In addition, emerging nations need to focus on cost-effectiveness and scalability to caterto the needs of the growing patient pool.
The spine bone stimulators market size is segmented on the basis of device type, end user, and region. On the basis of device type, the market is bifurcated into non-invasive spine bone stimulator and invasive spine bone stimulators. Non-invasive spine bone stimulator is further divided into pulsed electromagnetic field (PEMF) device and capacitive coupling (CC) &combined magnetic field (CMF) devices. By end user, the market is divided into hospital, specialty clinic, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Depending on device type, non-invasive spine bone stimulator segment was the highest contributor to the market in 2020, and this trend is expected to continue during the forecast period, as external bone growth stimulation devices are worn outside the skin, typically after spinefusion, and do not require surgical implantation or extraction and cause less complication. However, the same segment is anticipated to witness considerable growth during the forecast period.
On the basis of end user, hospital segment was the highest contributor to the market in 2020, and this trend is expected to continue during the spine bone stimulators market forecast period, due to rise in the number of orthopedic procedure in the hospital.
Region-wise, North America dominated held the largest spine bone stimulators market share in 2020, and is expected to be dominant during the forecast period, owing to surge in the geriatric population, rise in patient awareness about reliable spine fusion surgeries, and growth in incidence of spinal disorders such as osteoporosis &arthritis that boost the spinal bone stimulators markets.
However, Asia-Pacific is expected to register highest CAGR of 5.1% during spine bine stimulartors market forecast, owing to rise in geriatric population base, presence of large pool of patients, increase in disposable incomes, and rise in patient awareness about advancing spinal disorders-related surgeries. In addition, awareness initiatives by various governments and private organizations also fuel this growth.
The major companies profiled in this report include Enovis (DJO Global, Inc.), Zimmer Biomet. Orthofix Medical Inc., Elizur Corporation, Ossatec Benelux BV, Orchid Medical, Inc., IGEA S.p.A., ManaMed Inc., Theragen, Inc. Intelligent Implants
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the spine bone stimulators market size, market segments, market trends, estimations, and dynamics of the market analysis from 2020 to 2030 to identify the prevailing spine bone stimulators market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the spine bone stimulators industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global spine bone stimulators market trends, key players, market segments, application areas, and market growth strategies.
Spine Bone Stimulators Market Report Highlights
By Device Type
By End User
Key Market Players
Orchid Medical, Inc., Enovis (DJO Global, Inc.), Elizur Corporation, Orthofix Medical Inc., Ossatec Benelux BV, ManaMed Inc., IGEA S.p.A. , Zimmer Biomet, Theragen, Inc., Intelligent Implants
This section provides the opinions of the CXOs of the companies operating in the global spine bone stimulators market. Spinal disorders, such as spinal stenosis, spondylolisthesis, and scoliosis, are on a continuous rise globally; thus, the development of effective spine bone stimulators is required for a successful spine fusion surgery. This surgery makes use of spine bone stimulators to prevent delayed unions of the vertebral fractures. On the basis of interviews conducted, the adoption of spine bone stimulators is expected to increase in near future due to advancements in surgical options, rise in geriatric population, and increase in incidence rate of spinal disorders.
As per the CXOs, Asia-Pacific possesses high market potential, especially in emerging economies (such as China & India) owing to surge in healthcare expenditure and growth in geriatric population coupled with high incidence of spine impairments.