Growing occurrences of spine disorders is one of the significant factors influencing the market growth.
The global spine biologics market is expected to reach USD 2,629.6 Million by 2027, according to a new report by Reports and Data. A growing occurrence of spine disorders is one of the significant factors influencing the growth of the spine biologics market. According to the World Health Organization (WHO), each year, globally, around 250,000 and 500,000 individuals suffer a spinal cord injury. Preventable causes, including road traffic accidents, falls, or violence, are the major contributors to the spinal cord injury, and individuals suffering from the condition are more likely to die prematurely as compared to healthy individuals with low and middle-income economies having the worst survival rates. Spinal cord injury is linked with a peril of occurrence of secondary conditions, which can be incapacitating and sometimes cost a person's life, such as urinary tract infections, deep vein thrombosis, muscle spasms, pressure ulcers, osteoporosis, chronic pain, and respiratory complications.
As per the Global Health and Aging report published by the WHO (World Health Organization), the number of people aged 65 years or older is estimated to increase from a projected 524 million in 2010 to approximately 1.5 billion by 2050, with a significant percentage of increase in developing economies. Additionally, the number of people aged 65 years or older is anticipated to considerably surpass children younger than 5 years of age by 2050. Aging leads to the deterioration of facet joints resulting in several spinal disorders. Thus, the increasing prevalence of diseases in the growing geriatric population is likely to propel the growth of the spine biologics market in the forecast period.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Medtronic PLC, Stryker Corporation, Nuvasive Inc., Zimmer Holding Inc., K2M Inc., Exactech Inc., Nutech Inc., Depuy Synthes, Wright Medical Technology, and Orthofic International NV, among others.
Market Segmentation by Types:
Type Outlook (Revenue, USD Million; 2017-2027)
- Spinal Allografts
- Bone Graft Substitutes
- Cell-Based Matrix
Surgery Type Outlook (Revenue, USD Million; 2017-2027)
- Anterior Cervical Discectomy and Fusion (ACDF)
- Transforaminal Lumbar Interbody Fusion (TLIF)
- Lateral Lumbar Interbody Fusion (LLIF)
- Anterior Lumbar Interbody Fusion (ALIF)
End-User Outlook (Revenue, USD Million; 2017-2027)
- Ambulatory Surgical Centers
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Spine Biologics market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Further key findings from the report suggest
- By type, bone graft substitutes are estimated to grow at a rate of 4.3% in the forecast period. A bone graft substitute is an inorganic, synthetic, or organic combination, which may be implanted for the spine deformity treatment as a substitute to allogenous/ autogenous bone. These substitutes comprise mineral composites, mineral cement, proteins, ceramics, and growth factors.
- By surgery type, the transforaminal lumbar interbody fusion (TLIF) held a substantial spine biologics market size in 2019. This surgery type for spine biologics is beneficial in maximizing spinal and fusion stability, better preserving the posterior elements to reduce spinal destabilization. Also, it enables for lesser scars and less nerve retraction in the course of surgery, as well as helps fusion procedure by preserving bonier surface.
- By end-user, ambulatory surgical centers held the second-largest spine biologics market share in 2019 and are likely to witness the fastest growth rate of 4.7% in the forecast period. Ambulatory surgical centers offer better control to surgeons over spine biologics practices as compared to hospitals by allowing them to form a specialist team and take advantage of the innovative equipment & devices and supplies to accomplish the optimal treatment outcomes.
- The spine biologics market in the Asia Pacific region is likely to grow at the fastest rate of 5.0% in the period 2019-2027, due to the improving healthcare infrastructure, rising investments in biologics development, and better reimbursement scenario.
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