(PharmaNewsWire.Com, May 11, 2021 ) The Spine Biologics Market size is estimated to reach $3.7 Billion by 2025, growing at a CAGR of 4.7% during the forecast period 2020-2025. Spine biologics consists of biomaterials that can be used in the treatment of degenerative disc diseases, spinal cord injuries, and bone fusion surgeries. However, Spine biologics are used during spine fusion surgery for the treatment of spinal deformities such as trauma, tumors, degenerative disc disease, and spinal cord injuries by stimulating bone growth formation through inflammatory stage, repair stage, and remodeling stage. Rising incidence of spinal disorders and awareness on the newly developed spine treatment techniques and devices are driving the growth of Spinal Biologics Market during the forecast period 2020-2025.
Spine Biologics Market Segment Analysis - By Product Type
Based on Product Type, Spine Biologics Market is segmented into Spinal Allografts, Machined Bones Allograft, Demineralized Bone Matrix, Bone Graft Substitutes, Bone Morphogenetic Proteins, Synthetic Bone Grafts, and Cell based Matrix. Spinal allografts hold the major share in the market during the forecast period 2019. This Owing to the numerous benefits associated with its usage and Adoption of allografts over autografts is swiftly increasing properties such as immediate structural support and conductivity. Bone Graft Substitutes segment is also set to be the fastest growing CAGR of 5.6% during the forecast period 2020-2025. This is owing to high adoption by surgeons and an increasing number of spinal fusion procedures.
Spine Biologics Market Segment Analysis - By Surgery
Based on Surgery Type, Spine Biologics Market is segmented into Open Spine Surgery, Minimally Invasive Spine Surgery, Anterior Cervical Discectomy, and Fusion (ACDF), Posterior Lumbar Interbody Fusion (PLIF), Anterior Lumbar Interbody Fusion (ALIF), Lateral Lumbar Interbody Fusion (LLIF), and others. Minimally invasive spine (MIS) surgery held the major share in 2019. This is owing to surgical approach or technique intended to provide equivalent or superior outcomes compared with conventional open spine surgery owing to limiting approach related surgical morbidity. Anterior Cervical Discectomy is also set to be the fastest growing with a CAGR during the forecast period 2020-2025.this is owing to the reductions in patient morbidity, length of hospital stays, and costs.
Spine Biologics Market Segment Analysis - By Geography
Based on Geography the Spine Biologics Market is segmented into North America, Europe, Asia-Pacific, Rest of World. North America had the largest share in terms of revenue with an overall share of 38.9% in 2019. This is owing to the increased adoption of minimally invasive surgeries, and the rising prevalence of spine disorders such as spinal stenosis, disc-related issues, and spondylolisthesis. Asia Pacific is also set to be the fastest growing market during the forecast period 2020-2025. This is owing to the medical and health awareness of people in the region which is driving the growth of Asia Pacific during the forecast period 2020-2025.
Growing cases of spine related health issues are one of the major driving forces for the Spine Biologics market. People affecting with spinal disorders are significantly growing all over the world. The above 65-year-old peoples are undergoing spinal problems and fusion surgeries the treatment which is providing a significant boost to the Spine Biologics market Growth.
Spine Biologics Market Challenges
In Spine Surgery biologics the research and development is challenged by the cost of bringing new product to market and the associated reimbursements of the products once it reaches the market. By this, the cost is increasing and the reimbursements decreasing, investors are significantly less likely to risk developing a new product. And are few challenges restraining the growth during the forecast period 2020-2025.
Spine Biologics Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Spine Biologics Market. Key companies of this market are Zimmer Biomet Holdings inc, Nuvasive Inc, Depuy Synthes, Orthofix International N.V, K2M, Inc, Exactech, Inc, DR PRP USA LLC, Arthrex, Inc. Nutech, Wright Medical Technology, Inc.and others.
Developments:
In September 2017, NuVasive Announces Acquisition Of Vertera Spine. he acquisition of Vertera Spine reflects NuVasive's continued commitment to pursue strategic opportunities as it builds out its advanced materials science portfolio to complement the Company's position as the innovation leader in spine.
In May 2016, NuVasive has Launches Next Generation Biologics Technology. NuVasive, Inc is a leading medical device company focused on transforming spine surgery with minimally disruptive, procedurally-integrated solutions, has announced the U.S. launch of the newest solution in its biologics portfolio, AttraX Putty.
Key Takeaways
Geographically, North America held a significant market share in the global Spine Biologics Market during the period of 2019. Owing to the presence of the elderly population, increasing adoption of minimally invasive procedure, and rising prevalence of spine disorders.
Factors such as Spinal allografts dominated the overall market in 2019 owing to the numerous benefits associated with its usage and the Adoption of allografts over autografts is swiftly increasing properties such as immediate structural support and osteoconductivity.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Spine Biologics Market report.
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