According to the latest report by IMARC Group, titled "Spine Biologics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global spine biologics market reached a value of US$
1.9 Billion in 2021. Spine biologics include varioustools that are generally used for performing spine fusion surgery. They are commonly utilized to treat deformities that occur due to spine trauma, degenerative disorders, and tumors. These tools are usually manufactured using biomaterials, including ceramics, polymers and glasses, that are safe in nature. They aid in promoting bone growth and the healing process while minimizing the disruption of soft tissues. Additionally, spine biologics is considered to be a preferred alternative to spinal orthoses since itreduces the requirement of additional surgical procedures.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Spine Biologics Market Trends:
The global market is primarily driven by significant growth in the healthcare sector. Moreover, a considerable increase in investments from private and public agencies across numerous countries to upgrade the existing healthcare infrastructure is creating a positive outlook for the market. Along with this, the rising prevalence of chronic and acute spinal disorders among the masses is providing a boost to the market growth across the globe. In line with this, the increasing geriatric population, which is more susceptible to musculoskeletal ailments, is also propelling the market growth. Furthermore, continual technological advancements and the integration of third-dimensional (3D) imaging, robotics, and artificial intelligence (AI) technologies with spine biologics devices to assist healthcare professionals in performing complex spine surgeries are also positively influencing the market growth. Some of the other factors contributing to the market growth include increasing healthcare expenditure and extensive research and development (R&D) in medical science. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of
4.32% during the forecast period (2022-2027).
- On the basis of the product, the market has been categorized into spinal allografts, machined bones allograft, demineralized bone matrix, bone graft substitutes, bone morphogenetic proteins, synthetic bone grafts and cell-based matrix.
- Based on the surgery type, the market has been bifurcated into open spine surgery and minimally invasive spine surgery.
- On the basis of the end-user, the market has been segregated into hospitals, ambulatory care centers, spinal surgery centers, orthopedic clinics and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Arthrex Inc, Alphatec Holdings Inc., Exactech Inc, Johnson & Johnson, Medtronic plc, NuVasive Inc, Orthofix Medical Inc., Stryker Corporation, Wright Medical Group N.V. and Zimmer Biomet.
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