New York, USA, July 20, 2023 (GLOBE NEWSWIRE) -- Spine Biologics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Spine Biologics Market Information By Product, By Surgery Type, By End User, And By Region–Market Forecast Till 2032, the market Size was valued at USD 2.8 Billion in 2022 and is projected to grow from USD 2.9 Billion in 2023 to USD 4.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2023 - 2032).
Market Scope:
Biomaterials utilized in the treatment of spinal cord injuries, degenerative disc disease, and bone fusion procedures are together referred to as "spine biologics." Bone development is primarily promoted through inflammatory, reparative, and remodeling processes. The increasing popularity of spinal fusion surgeries has led to a growth in the need for biologics.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 4.3 Billion |
| CAGR | 4.90% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Surgery Type and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing geriatric population |
| Rising prevalence of spine deformities |
Spine Biologics Market Competitive Dynamics:
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 Market Trends:
Market Drivers
The global market is being propelled by demographic shifts, rising instances of spinal deformities, and innovations in bone grafting techniques. The increased prevalence of degenerative spine diseases and the rising popularity of less invasive procedures are also fueling market growth. Surgeons all across the world frequently use the cutting-edge biological techniques of interbody fusion and direct lateral interbody fusion to correct spinal abnormalities.
Lateral body fusion is the ideal way for treating spinal illnesses since it results in fewer complications and allows for a speedy and safe recovery, due to the utilization of recent breakthroughs in biomaterials. It further raises the demand for spine biologics in the treatment of disc formation, sclerosis, and other spine-related disorders.
Due to advances 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 rapidly. The widespread use of biomaterials in the treatment of degenerative disc disorders, spinal cord injuries, and bone fusion procedures has had a major impact on the spine biologics market because of the positive clinical outcomes associated with these treatments.
Market Restraints
However, factors that are projected to hinder the growth of the spine biologics market include the high cost of the operation and an unfavorable reimbursement scenario. In the coming years, the spine biologics market is expected to face resistance from a lack of patient education and a shortage of professionals with relevant experience.
COVID-19 Analysis:
The spread of coronavirus-19 (COVID-19) has hampered spine surgeons' ability to provide routine medical services. The magnitude and lethality of the COVID-19 pandemic are unique in the contemporary era. Currently, care is centered on identifying and isolating viral symptoms as soon as possible so that they can be treated. Spine surgeons have an important role to play in the present pandemic because to the extremely contagious SARS-COV-2 virus, as they must continue to treat patients with urgent and emergent spinal pathologies while ensuring the highest level of patient and provider safety and making the most efficient use of scarce healthcare resources. This is crucial since many people with spine conditions are at a higher risk (older age, medical comorbidities) of developing COVID-19's severe form.
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Spine Biologics Market Segmentation:
Product
As a result of their many benefits, bone allografts were the market leader in 2022. Due to their superior osteoconductivity and rapid structural support, allografts are replacing autografts in many applications. Because no further procedure is required to harvest the bone, allografts also save operating time and expedite the healing process. When a bone transplant is performed surgically, it is usually made from synthetic materials. Zimmer Biomet is only one company that offers xenografts (natural bone grafts) to patients in need.
Surgery Type
The transforaminal lumbar interbody fusion (TLIF) subsegment of the spine biologics market was a major contributor to the industry's overall value in 2022. Compression of a nerve root or the spinal cord can be treated surgically, and the risks and side effects are low and manageable. In order to stabilize the injured vertebrae and relieve pressure on the spinal cord and nerve roots in the cervical spine, a specific type of neck surgery called discectomy and interbody fusion may be performed. As the number of women diagnosed with cervical cancer rises, so does the size of the market.
End User
The healthcare industry brought in the most money in 2022, and that trend is expected to continue. The primary driver propelling the market is the increasing prevalence of spinal fusion surgeries performed in these medical facilities. However, rising outpatient visits and falling hospital admissions have been linked to rising healthcare costs. This will likely present a threat to the clinical application of spine biologics in the coming years.
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Spine Biologics Market Regional Analysis:
In terms of spine biologics, the North American market accounts for 45.80 percent of the global total. The market is growing due to factors such as the increasing incidence of spinal disorders such as spinal stenosis, disc-related issues, and spondylolisthesis, and the continuation of economic prosperity.
The market for spinal biologics in Europe is expected to grow strongly during the coming years. Technological progress, an increase in hospitals, and a growing patient base for spine biologics are primarily responsible for the market's growth in this sector. In addition, Germany was the largest market for spine biologics, while the United Kingdom was the fastest expanding market in Europe.
Due to a large patient population and increased knowledge of the benefits of biologics among patients and surgeons, the Asia-Pacific Spine Biologics market is projected to develop at the quickest CAGR from 2023 to 2032. The high prevalence of spine injuries, especially those caused by auto accidents, as well as the region's enhanced infrastructure and healthcare facilities, as well as rising healthcare expenses, are driving the regional market.
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