Market Research Future (MRFR) has published a “Global Spine Biologics Market”
The global spine biologics market is accounted to register a CAGR of 4.90% during the forecast period and is estimated to reach USD 4.3 billion by 2032.
Spine biologics are substances that actively alter their surroundings through biological processes. By encouraging growth and differentiation, they aid in the healing process and the restoration of harm. They also reduce the requirement for soft tissue disruption and main or subsequent surgical procedures. Currently, a variety of spine biologics are used as an alternative to conventional therapy.
Increased treatment rates for degenerative spine disorders due to their rising prevalence, improvements in bone grafting techniques, and a high demand for minimally invasive operations are some of the major drivers of market expansion.
MRFR recognizes the following companies as the key players in the global Spine Biologics market— Arthrex, Inc., Cesca Therapeutics Inc., DePuy Synthes, Orthopaedic Seminar, Exactech, Inc., K2M, Inc., Lattice Biologics Ltd, Medtronic, NuTech Spine, Inc., NuVasive Inc., Orthofix Holdings, Inc., Regen Lab USA LLC, RTI Surgical Holdings, Inc., Stryker, Wright Medical Group N.V., XTANT MEDICAL, Zimmer Biomet, Smith & Nephew, Dr PRP USA LLC
The global spine biologics market has been segmented based Product, Surgery Type, and End User.
On the basis of product, the market is segmented into bone allografts, bone graft substitute, platelet rich plasma, and bone marrow aspirate therapy. The bone allografts segment was attributed to holding the largest market share in 2022.
Based on Surgery Type, the global Spine Biologics market has been segmented into Surgery Type, includes anterior cervical discectomy and fusion (ACDF), transforamenal lumbar interbody fusion (TLIF), anterior lumbar interbody fusion (ALIF), and lateral lumbar interbody fusion (LLIF). The anterior cervical discectomy and fusion (ACDF) segment was expected to hold the largest market share in 2022.
Based on End User, the global Spine Biologics market has been segmented into hospitals, spinal surgery centers, and others. The hospitals segment was expected to hold the largest market share in 2022.
Explore In-depth Details: Spine Biologics Market Research Report
The global Spine Biologics market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Spine Biologics market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Spine Biologics market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Spine Biologics market comprises of Middle East, Africa, and Latin America.
The largest market share for Spine Biologics was maintained by the North American regional sector. The prevalence of spine conditions such spinal stenosis, disc-related issues, and spondylolisthesis is rising, and this, combined with steady economic growth, is driving the market's growth. According to the National Spinal Cord Injury Statistical Center, there were around 285,000 spinal cord injuries documented in the US in 2017.
Moreover, the European spine biologics market is predicted to show significant growth over the course of the forecast period. Technology developments, an increase in hospitals, and an expanding patient base for spine biologics are the main factors driving this market's expansion.
Additionally, the Asia Pacific market is anticipated to rise significantly as a result of a sizable patient base and growing patient and surgeon awareness of the benefits of biologics. A number of variables, including the region's improving infrastructure and healthcare facilities, rising healthcare expenditures, and the high prevalence of spine injuries, particularly those brought on by traffic accidents, are driving the regional market.
Furthermore, the rest of the world's Spine Biologics market is divided into the Middle East, Africa, and Latin America. The spine biologics market in LATAM and MEA is expected to grow at a steady pace in the coming years, driven by increasing demand for biologics-based products and the growing prevalence of spinal disorders. However, factors such as the high cost of biologics-based products and the lack of awareness about these products may hinder market growth to some extent.
Key Findings of the Study