Global Bone Growth Products Market - Focused Insights 2024-2029

MARKET INSIGHTS

The global bone growth products market was valued at USD 1.09 billion in 2023 and is projected to grow to USD 1.35 billion by 2029, reflecting a CAGR of 3.72% during the forecast period. The market is witnessing considerable growth, driven by increased research and development (R&D) activities related to innovative treatment methods and the creation of new products. Supportive governmental initiatives and significant investments from private organizations are facilitating these advancements. Governments globally are actively endorsing research through funding, subsidies, and regulatory approvals to promote the emergence of state-of-the-art bone regeneration therapies.

MARKET DEFINITION

Bone inherently possesses the ability to regenerate throughout repair, development, and remodelling. The process of healing fractures follows similar pathways to fetal bone development, engaging both intramembranous and endochondral ossification. Nevertheless, approximately 5%-10% of fractures or surgical procedures lead to delayed or incomplete recovery. To aid in these instances, bone growth products such as stimulators, bone morphogenetic proteins (BMPs), and platelet-rich plasma (PRP) are utilized to improve the bone healing process.

MARKET OPPORTUNITIES & DRIVERS

Emergence of Self-Powered Implantable Devices

Invasive bone growth stimulators are devices that can be implanted into the body, intended to deliver electrical energy to non-healing fractures or sites requiring bone fusion, with the goal of inducing bone formation, triggering growth, and enhancing healing. These devices utilize direct current supplied through an implanted lead, providing a steady flow of current to the site of fracture, thereby addressing the compliance challenges seen with non-invasive systems. Invasive stimulators are particularly recommended for non-unions of the tibia, femur, and humerus and have demonstrated efficacy in high-risk patients undergoing lumbar or sacral fusion, inclusive of individuals who have experienced previous fusion failures or face conditions like smoking, obesity, or diabetes. Bone, being piezoelectric, produces a minor electrical charge when subjected to strain, aiding in the healing process. The increasing benefits of these devices indicate a rise in their use in developed nations, accompanied by ongoing research aimed at improving their presence and effectiveness in the market.

Growing Use of Biocompatible Synthetic Bone Grafts and Biologics

The increasing implementation of biocompatible synthetic bone grafts and biologics plays a crucial role in driving the bone growth products market. Synthetic grafts, consisting of materials like ceramics, polymers, and composites, imitate the structure of natural bone, supplying scaffolds for new bone development while minimizing the risks of disease transmission and immune rejection linked to allografts and autografts. These grafts are particularly sought after for spinal fusion surgeries and trauma cases. Biologics such as BMPs and PRP boost the natural bone healing process by enhancing cellular activity and stimulating bone growth. BMPs promote bone formation, leading to improved outcomes in complex fractures, whereas PRP expedites healing. These advancements are revolutionizing the way bone injuries are treated, providing more effective, efficient, and personalized approaches which contribute to market expansion as healthcare providers aim for safer, cost-effective solutions.

INDUSTRY RESTRAINTS

Adapting to Rapid Technological Progress

Bone growth stimulators tend to be costly and often lack insurance coverage, prompting many individuals to seek more affordable options such as physiotherapy, Ayurveda, and chiropractic services. This trend is particularly evident in developing nations where out-of-pocket expenses are significant. These alternatives are favored in countries like Japan, China, and India for their economic viability. Furthermore, the discomfort associated with bone stimulators and a shortage of orthopedic specialists lead patients to turn to traditional therapies. Increasing awareness, enhancing access to treatment, and expanding insurance coverage could potentially elevate the adoption of bone growth products in low- and middle-income regions.

GLOBAL BONE GROWTH PRODUCTS MARKET INSIGHTS

• Product: The global market for bone growth products is divided into bone growth stimulator devices, bone morphogenetic protein, and platelet-rich plasma. The category of bone growth stimulator devices represented the largest share of the market. Bone healing is an inherent biological process, with the body consistently renewing old bone tissue. While fractures typically heal with suitable interventions like casting, realignment, and surgery, complications such as delayed healing or non-union can arise. To tackle these concerns, healthcare professionals seek methods to facilitate and hasten bone healing. Bone stimulators are created to aid this healing and come in various formats, including electrical and ultrasonic devices. This category leads the market as a significant number of patients opt for non-invasive or minimally invasive treatments to bypass surgical risks and lengthy recovery times.
• Application: The global market for bone growth products is classified by application into spinal fusion surgeries, oral & maxillofacial surgeries, delayed union & non-union bone fractures, and others. Spinal fusion surgeries exhibit the most substantial growth during the forecast period. Bone Growth Stimulation (BGS) is a therapeutic method frequently recommended by surgeons after spinal fusion procedures to aid in the healing of spinal bones. A bone growth stimulator is typically employed for patients undergoing surgeries on the cervical (neck) or lumbar (lower back) spine, aimed at encouraging spinal fusion. This device enhances bone healing by promoting growth and is especially useful in scenarios where the fusion process encounters delays or failures. Research indicates that BGS significantly improves fusion results in both cervical and lumbar areas, making it a widely adopted option for post-operative care and, in turn, driving segment growth.
• End-User: According to the end-user category, the hospitals & clinics segment commands the largest share of the global bone growth products market. Hospitals are the main healthcare hubs for bone-related conditions, frequently investing in state-of-the-art technologies and materials to better treatment outcomes. However, only larger, multispecialty and Tier-I hospitals can provide advanced therapies such as bone morphogenetic proteins (BMP) and PRP due to the complexity and associated costs. Growing patient awareness and improved insurance coverage have spurred the demand for advanced treatments, including bone stimulators, BMP, and PRP, which effectively address challenging fractures like non-union fractures. Physician offices and clinics, particularly in remote areas, often serve as the initial contact point for numerous patients. Although these facilities may lack the capacity to offer advanced treatments, they are vital in referring patients to larger, specialized hospitals, contributing to the overall market growth.

GEOGRAPHICAL ANALYSIS

North America accounted for the largest global bone growth products market share, followed by Europe. The U.S. remains a major revenue contributor in North America due to the high penetration of spinal fusion procedures and a considerable volume of spinal fusion and non-fusion surgeries. The increasing prevalence of orthopedic diseases, accidental injuries, and the aging population primarily drive the growth. The availability of advanced, safer, and minimally invasive surgical treatments and ongoing technological innovations further support market expansion.

COMPETITIVE LANDSCAPE

The market report for global bone growth products includes unique information on 30 vendors. It is a highly competitive landscape, with major global players such as Medtronic, Johnson & Johnson, Stryker, and Zimmer Biomet taking the lead through acquisitions, partnerships, and the introduction of new products. There is a noticeable rise in small and mid-sized firms entering the market, aiming to offer innovative and affordable products. An increased focus on developing advanced therapies for bone healing, like pulsed electromagnetic field therapies, is evident, particularly for addressing bone regeneration challenges in elderly and diabetic patients. Prominent companies such as Bioventus, Orthofix, and Terumo are expanding their product lines with cutting-edge solutions.