Spine Biologics Market Overview
According to a new report by IMIR Market Research onGlobal Spine Biologics Market Size was valued at USD 2.6 Billion in 2022. The Spine Biologics market industry is projected to grow from USD 2.8 Billion in 2023 to USD 4.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.45% during the forecast period (2023 - 2032).
An increase in the number of elderly persons and the incidence of spinal anomalies, are the key market drivers enhancing the market growth.
Spine Biologics Market Trends:
Growing geriatric population is driving the market growth
The aging population, an increase in the frequency of spinal deformities, and technological advancements in bone grafting techniques are the main factors driving the global market. The market is also growing as more people choose minimally invasive procedures and as degenerative spine disorders are becoming more common. Additionally, the two state-of-the-art biological approaches most frequently employed by surgeons worldwide to repair spinal abnormalities are interbody fusion and direct lateral interbody fusion.
The ideal way for treating spinal problems is the use of lateral body fusion, a minimally invasive procedure that makes advantage of recent developments in biomaterials. It causes fewer complications and enables a speedy and safe recovery. It further raises the demand for spine biologics in the management of disc formation, sclerosis, and other spine-related disorders. Globally, the aging population is growing, which will raise demand for problem detection and treatment. People over 50 are more prone to suffer from spinal abnormalities or structural changes, which makes spinal injuries among them more common. Therefore, during the anticipated timeframe, the aforementioned factors will dominate the market for spine biologics. The increase in incidence of degenerative spine illnesses and the sharp increase in treatment rates globally are the main factors driving the growth of the spine biologics market.
Due to technological advancements in bone grafting techniques, the importance of these biologics in spine surgery, and the rising demand for minimally invasive procedures, the market for spine biologics is expanding significantly. The spine biologics industry has been significantly impacted by the increased acceptance of biomaterials due to their quick healing, quick recovery times, ability to stimulate cellular growth, high utilization in the treatment of degenerative disc disorders, spinal cord injuries, and bone fusion procedures. The aging population's expansion, increased awareness of recently developed spine therapy options, research and development initiatives, and an increase in healthcare spending are further factors that favorably affect the market for spine biologics. Thus, driving the Spine Biologics market revenue.
Scope of Spine Biologics Market Report:
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Spine Biologics Market. On the basis of historic growth analysis and current scenario of Spine Biologics market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Spine Biologics market. This further helps users with their developmental strategy.
Spine Biologics Key Market Players & Competitive Insights:
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Spine Biologics market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Spine Biologics sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Spine Biologics industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Spine Biologics sector. Major players in the Spine Biologics market, including 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, are attempting to increase market demand by investing in research and development operations.
RTI Surgical (RTI) is a significant international private-label OEM that provides comprehensive services for product development and life cycle management to benefit both patients and leading medical technology companies. Utilizing our knowledge of tissue and biologics, we provide partners in a variety of market sectors, including but not limited to dental, plastic and reconstructive surgery, sports medicine, spine, trauma, and urology/urogynecology. In accordance with an agreement they made in August 2018, Aziyo Biologics provided RTI Surgical Holdings, Inc. with ViBone, a bone repair product with autograft capabilities, for use in a variety of orthopedic procedures.
Orthofix Medical Inc. (Orthofix), a producer of medical equipment, formerly known as Orthofix International NV, provides reconstructive and regenerative musculoskeletal solutions to medical professionals everywhere. The company's major products include those for managing fractures, regenerative goods and tissue forms, child and limb reconstruction, motion preservation and fixation implant devices, and foot and ankle products. Orthofix offers its products both directly and through a network of distributors in order to reach hospitals, physicians, integrated health delivery systems, ambulatory surgery centers, and other purchasing groups across the world. It also has facilities there, in addition to the US, UK, Brazil, Italy, France, and Germany. Based in Lewisville, Texas, Orthofix is a company with US operations. In October 2022, Orthofix, a global medical device firm, and SeaSpine, a global medical technology company, agreed into a binding merger agreement to form a premier spine and orthopedic corporation with a focus on orthopedics and spine surgery. The united entity would develop into a top surgical navigation system with the addition of highly complimentary biologics.
Key Companies in the Spine Biologics Market Include:
- 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
Spine Biologics Industry Developments:
In October 2022: The first patient to get invasive spinal colon surgery in Japan had treatment at the International University of Health and Wellness at Mita Hospital in Tokyo using Royal Philips' Augmented Reality (A.R.) surgical navigation tool, ClarifEye, emphasizing the successful post-operative outcomes.
In February 2020: The SeaSpine holding firm joined forces strategically with 7DSurgical Inc. to concentrate on surgical treatments for spinal ailments.
In May 2020: The Modulus XLIF Dual-sided plate was introduced by NuVasive, a pioneer in spine technology, and was given 510(k) clearance by the US Food and Drug Administration.
In August 2018: Aziyo Biologics was in agreement with RTI Surgical Holding Inc. In accordance with the agreement, Aziyo Company provides RTI Surgical with assistance for its ViBone device, which is used to mend bone during auto-graft procedures for various orthopedic surgeries.
Spine Biologics Market Segmentation:
Spine Biologics Product Outlook
- Bone Allografts
- Bone Graft Substitute
- Platelet Rich Plasma
- Bone Marrow Aspirate Therapy
Spine Biologics Surgery Type Outlook
- Anterior Cervical Discectomy and Fusion (ACDF)
- Transforamenal Lumbar Interbody Fusion (TLIF)
- Anterior Lumbar Interbody Fusion (ALIF)
- Lateral Lumbar Interbody Fusion (LLIF)
Spine Biologics End User Outlook
- Hospitals
- Spinal Surgery Centers
- Orthopedic Clinics,
- Others
Spine Biologics Regional Outlook
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Spine Biologics Market Segment Insights:
Spine Biologics Product Insights
The global Spine Biologics market segmentation, based on Product includes bone allografts, bone graft substitute, platelet rich plasma, and bone marrow aspirate therapy. Due to their numerous benefits, bone allografts dominated the market overall in 2022. Allografts are being used more frequently than autografts due to their advantages in terms of osteoconductivity and quick structural support. Additionally, because no second surgery is required to retrieve the bone, allografts reduce surgical time and hasten the healing of wounds. Bones for natural transplants are extracted from the patient's or a donor's body. Companies like Zimmer Biomet offer natural bone grafts (xenografts).
Spine Biologics Surgery Type Insights
The global Spine Biologics market segmentation, based on 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 transforaminal lumbar interbody fusion (TLIF) and ACDF segments both made considerable contributions to the global spine biologics market in 2022. Surgery is a safe and effective treatment for nerve root or spinal cord compression, with very rare and manageable side effects. In order to stabilize the injured vertebrae and release pressure from the spinal cord and nerve roots in the cervical spine, this specific type of neck surgery involves the removal of a damaged disc followed by intervertebral fusion. The surge in cervical cancer cases is leading to market growth.
Spine Biologics End User Insights
The global Spine Biologics market segmentation, based on End User, includes hospitals, spinal surgery centers, orthopedic clinics, and others. The hospital sector had the largest revenue share in 2022, and it is anticipated that this trend would continue for the duration of the forecast. The primary driver of the market is an increase in the number of spine fusion surgeries performed in these facilities. However, due to high hospitalization costs, hospital admissions have recently decreased while outpatient visits have climbed. This will undoubtedly put the use of spine biologics in hospital settings in peril during the next years.
Spine Biologics Regional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The highest market share (45.80%) for spine biologics worldwide belongs to North America. The rise in prevalence of spine ailments like spinal stenosis, disc-related problems, and spondylolisthesis as well as sustained economic growth are all factors contributing to the market's expansion. The National Spinal Cord Injury Statistical Center estimates that in 2017, there were around 285,000 spinal cord injuries reported in the United States. Further, In the North American area, the U.S. Spine Biologics market had the biggest market share, while the Canada Spine Biologics market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
The market for European spinal biologics is predicted to grow positively over 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. Further, In the European region, the German Spine Biologics market had the biggest market share, and the U.K. Spine Biologics market had the quickest rate of growth.
Due to a large patient population and greater awareness of the benefits of biologics among patients and surgeons, the Asia-Pacific Spine Biologics market is anticipated to grow at the quickest CAGR from 2023 to 2032. 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. Due to inactive lives and changing living choices, the prevalence of obesity has increased, and this trend is projected to continue to drive the sector going forward. Further, In the Asia-Pacific region, the Indian Spine Biologics market had the quickest rate of growth while China's Spine Biologics market had the greatest market share.
Global Spine Biologics Market Regional Analysis:
North America accounted for the highest xx% market share in terms of revenue in the Spine Biologics market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Spine Biologics. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Spine Biologics companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Spine Biologics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Spine Biologics Market Report is also available for below Regions and Country Please Ask for that:
North America
Europe
- Switzerland
- Belgium
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Rest of Europe
Asia-Pacific
- India
- Australia
- Philippines
- Singapore
- South Korea
- Japan
- China
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Argentina
- Peru
- Colombia
- Brazil
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
Points Covered in the Report:
- The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions:
- How much the global Spine Biologics Market valued?
- Which region has the largest share in 2023 for the global Spine Biologics Market?
- What are the driving factors for the market?
- Which is the leading segment in the global market?
- What are the major players in the market?
Research Scope of Spine Biologics Market:
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2032
- Representation of Market revenue in USD Million
Spine Biologics Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
