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According to the latest report by IMARC Group, titled "Global Spine Biologics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global spine biologics market exhibited moderate growth during 2015-2020.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 4.5% during the forecast period (2021-2026).
Market Summary:
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