Global Spine Biologics Market: Overview
Spine biologics is a treatment that is used during the spine fusion surgery for the treatment of spinal deformities that include spinal cord injuries, trauma, degenerative disc disease, and tumors. It stimulates the growth of the bone formation through different stages which include inflammatory, repair, and remodeling. Spine biologics are used in the treatment of symptomatic deformity to achieve successful arthrodesis. Spine biologics is a minimally invasive method and it requires less time as compared to that of open surgical procedures.
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Global Spine Biologics Market: Growth Factors
Major factors that are driving the spine biologics market growth include a rise in the number of geriatric population, benefits provided by spine biologics is faster recovery, minimal postoperative time, and ability to activate cellular growth. Spinal disorders are most common in men and women over 50 years. Spinal injuries can be due to the enlargement of bones & joints, thickening of the band of the tissue, which supports the spine. This is the key factor that is fuelling the market growth in the coming years. People who are at the high risk of spinal deformities need to undergo spinal fusion surgery thus increasing its demand in the global market. However, higher cost of the bone grafts, hostile reimbursement scenario, and concerns regarding the bone grafting procedures is expected to hamper the global spine biologics market growth.
Global Spine Biologics Market: Segmentation
The spine biologics market is segmented on the basis of product, surgery, and region. The product segment is classified into the cell-based matrix, spinal allografts, platelet-rich plasma, and bone graft substitutes. The spinal allografts segment is sub-segmented into the demineralized bone matrix and machined bones allograft. The bone graft substitute is sub-segmented into synthetic bone grafts and bone morphogenetic proteins. Depending on the surgery, the market is divided into anterior cervical discectomy and fusion, lateral lumbar interbody fusion, transforaminal lumbar interbody fusion, anterior lumbar interbody fusion, and other surgeries. The region wise breakdown of the market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Global Spine Biologics Market: Regional Analysis
North America contributed the largest market share in the global spine biologics market due to stable economic growth. North America is followed by Europe. Other factors influencing the market are an increase in the disposal income, growing population, improved medical literacy, and raising awareness regarding newly developed technologies. Spine biologics have a tremendous demand from the regions of America owing to the advancement in the technology and large pool of the patients. The market in Asia Pacific is experiencing growth in the market owing to increase in the patient pool, advanced rheumatoid arthritis and osteoarthritis procedure, availability of the sophisticated diagnostic technique, and growing awareness among the people. Emerging economies such as China, India, Korea, Thailand, and Vietnam are supporting the market due to economic growth, high prevalence, fast disease progression, improving healthcare facility, and insurance coverage.
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Global Spine Biologics Market: Competitive Players
Major companies operating in the global spine biologics market are Exactech, Inc., Alphatec Holdings, Inc., Globus Medical, Depuy Synthes, Inc., and Zimmer Biomet Holdings, Inc. Other prominent players include RTI Surgical, Inc., Medtronic Plc., Xtant Medical., Orthofix International N.V., NuVasive, Inc., Nutech, SeaSpine, and Life Spine, Inc.
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