The Spine Biologics Market is expected to register a CAGR of 4% during the forecast period. This is attributing to the growing geriatric population, rising prevalence of spine deformities, and technological advancements in bone grafting procedures. In addition, rising incidences of degenerative spine disorders with a significant increase in treatment rates and increasing preference for minimally invasive procedures are also fueling the growth of the market. Moreover, interbody fusion and direct lateral interbody fusion are the two advanced biological mechanisms for the treatment of the deformity of the spine and are highly adopted among surgeons globally. Furthermore, Advancements in the biomaterial and minimally invasive procedure approach associated with lateral body fusion is an ideal approach for the treatment of spine disorders as this procedure results in safe, effective, fast recovery and less injury. It further promotes the demand for spine biologics in the treatment of disc generation, sclerosis and other spine-related disorders. Spine injuries are very common among the population who are above 50 years as they are more susceptible to have structural alteration in the spine or spinal impairments thus growing geriatric population around worldwide will also promote the demand of treatment and diagnosis of the disorders. Therefore, the aforementioned factors will drive the spine biologics market in forecasted period.
Key Market Trends
Spinal Allografts in Spinal Biologics is Estimated to Witness a Healthy Growth in Future
Spinal allografts are estimated to witness healthy growth in the future which is attributed to several benefits associated with its usage. Spinal allografts are the allograft bone that is donated from another patient (donor) and used in the spine treatment procedure. The use of allografts in spinal fusion will eliminate the additional surgical procedure that is reduced surgery time. In addition, these are osteoconductive which means it provides a scaffold to the spine repair. Moreover, several companies are working and providing on natural bone grafts that are harvested from the donor body. For instance, Zimmer Biomet offers RegenerOss Resorbable Xenograft (natural bone grafts). Products from such international and well-established companies indicate the demand for spinal allografts in the market.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global Spine Biologics Market due to the presence of the geriatric population, increasing adoption of minimally invasive procedure, and rising prevalence of spine disorders such as spondylolisthesis, spinal stenosis, and disc-related issue. As per the American Association of Neurological Surgeons, every year an estimate of 17,000 new cases of spinal cord injury reported in the United States. Thus a large number of spinal cord injury population will significantly promote the demand for the treatment of disorders wherein spinal biologics plays an important role in diagnosis and thereby driving the overall market The United States owns the largest share of Spine Biologics Market in the North America region Furthermore, well-established infrastructure, stable economic growth, growing health care expenditure is also expected to fuel the Spine Biologics Market in this region.
The Spine Biologics Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are DePuy Synthes, Orthofix Medical Inc., Stryker, Zimmer Biomet, Arthrex, Inc., Exactech, Inc, Wright Medical Group N.V, Medtronic plc, and NuVasive, Inc.
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