Spine bone stimulators are used during spinal fusion surgery along with spinal instrumentation (plates, rods, and screws) and bone grafts. Their main function is to enhance the bone’s healing process, which is essential for spinal fusion procedures and is typically worn after this surgery. A bone stimulator, 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.
The key factors that drive the market growth include an increase in the geriatric population and a rise in the incidence of osteoporosis & arthritis. However, the advent of bone growth-stimulating drugs and fixation instrumentation during fusion and non-union fractures are expected to impede this market growth.
The report segments the market on the basis of device type, end user, and region. On the basis of device type, the market is bifurcated into non-invasive and invasive spine bone stimulators. By end user, it is divided into hospital, specialty clinic, and end user. By region, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.
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 detailed - Quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities.
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the spine bone stimulators market is provided.
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
Key Market Segments
By Device Type
- Invasive Spine Bone Stimulators
- Non-Invasive Spine Bone Stimulators
- Pulsed Electromagnetic Field (PEMF) Devices
- Capacitive Coupling (CC) and Combined Magnetic Field (CMF) Devices
By End User
- Hospitals
- Specialty Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Enovis (DJO Global, Inc.)
- Zimmer Biomet
- Orthofix Medical Inc.
- Elizur Corporation
- Ossatec Benelux BV
- IGEA S.p.A.
- ManaMed Inc.
- Theragen, Inc.
- Intelligent Implants
- Orchid Medical, Inc.
Table of Contents
Executive Summary
According to this report titled, 'Spine Bone Stimulators Market,' the spine bone stimulators market size was valued at $487.80 million in 2020, and is estimated to reach $665.55 million by 2030, growing at a CAGR of 3.2% from 2021 to 2030.Spine bone stimulators and spinal instrumentation (plates, rods, and screws) and bone grafts are used during a spinal fusion surgery to enhance the bone’s 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. 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.
Increase in geriatric population and rise in incidence of osteoporosis and arthritis boost the spine bone stimulators market growth. According to report share by Bloomberg quint in August 2020 the old age dependency ratio is also rising. That ratio has increased from 14.2% in 2011 to 15.7% in 2021 as per projections. It is expected to rise to 20.1% by 2031. 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. Hospitals are contributors for market growth, as there is rise in the number of orthopedic procedures in the hospital. According to the segmentation of device the non-Invasive spine bone stimulator segment contributes to the highest growth because external bone growth stimulation devices are worn outside the skin, typically after spine fusion, and do not require surgical implantation or extraction and causes less complication. The new products and innovations for bone growth stimulators are also boosting the market growth. Orthofix, a medical device manufacturing company which manufactures biostim, extremity fixation, spine fixation, and biologics, has received approval of STIM onTrack 2.1 mobile app for bone growth stimulators.
There are some restraints for the spine bone stimulators industry which are availability substitute, fixation instrumentation during fusion and non-union fractures, and high initial cost of these devices. However, advent of bone growth-stimulating drugs and fixation instrumentation during fusion and non-union fractures 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.
Opportunities for spine bone stimulator market are 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 cater to the needs of the growing patient pool.
The report segments the spine bone stimulators industry based on device type, end user, and region. On the basis of device type, the market is bifurcated into non-invasive and invasive stimulators. By end user, it is divided into hospital, specialty clinic and other. Geographically, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.
Region-wise, North America accounted for the major spine bone stimulators market share in 2020, and is expected to be dominant during the forecast period, owing to increase in the geriatric population, rise in patient awareness about reliable spine fusion surgeries, and growth in incidence of spinal disorders such as osteoporosis and arthritis boost the spinal bone stimulators markets. However, Asia-Pacific is expected to register highest CAGR of 5.1% during spine bone stimulators market forecast, owing to 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 government and private organizations also fuel this growth.
Key findings of the Study
- On the basis of spine bone stimulators market analysis, among device type, the non-invasive bone stimulator segment was the highest contributor to the market in 2020.
- On the basis of end user, the hospital segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
- Region-wise, North America garnered the largest revenue share in 2020. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Enovis (DJO Global, Inc.)
- Zimmer Biomet
- Orthofix Medical Inc.
- Elizur Corporation
- Ossatec Benelux BV
- IGEA S.p.A.
- ManaMed Inc.
- Theragen, Inc.
- Intelligent Implants
- Orchid Medical, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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