Spine Biologics Market to show Rapid Growth of $2,214 Million by 2022 : AMR Study Report
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. Increase in geriatric population, advantages of biologics such as minimal postoperative time, faster recovery, and their ability to activate cellular growth are the factors that drive the market growth. However, unfavorable reimbursement scenario, higher cost of the bone grafts, and certain ethical issues related to bone grafting procedures are expected to restrain the growth of the market.
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The market is driven by factors such as increase in geriatric population and advantages of biologics such as minimal postoperative time, faster recovery, and ability to activate cellular growth. However, unfavorable reimbursement scenario, higher cost of bone grafts, and ethical issues related to bone grafting procedures hamper the market growth.
On the basis of product type, spine biologics is segmented into spine allografts, bone graft substitutes, and cell-based matrices. The emergence of biologic materials is one of the recent developments of spine fusion surgery. Earlier autografts were considered as the primary bone graft choice; however, owing to various complications related to it such as pain, infection, and weakened bone, allograft evolved as a better treatment option. Presently, bone morphogenetic proteins, bone grafts, and cell-based matrix are used as biologics options. Thus, with continuous development of new products, the use of biologics in spine surgeries is expected to witness a higher demand in the future.
North America is expected to maintain its dominance throughout the forecast period. However, Asia-Pacific region is projected to grow rapidly during the forecast period, registering a CAGR of 5.3%. Improving healthcare infrastructure and increase in expenditures in the emerging markets, such as India and China, to cater to the unmet medical needs in these countries have bolstered the market growth.
Key Findings of the Spine Biologics Market:
• The demineralized bone matrix segment is expected to grow at a CAGR of 3.4%, owing to its ability to stimulate bone formation.
• Synthetic bone grafts segment accounted for more than half of the global bone graft substitutes market in 2015.
• North America contributed two-thirds share of the global spine biologics market in 2015.
• France and Germany jointly accounted for more than one-third share of the European spine biologics market in 2015.
• Japan is the major shareholder in the Asia-Pacific spine biologics market, accounting for more than one-third share in 2015.
The key companies that operate in the spine biologics market are Alphatec Holdings, Inc., Depuy Synthes (Johnson & Johnson), Exactech, Inc., Globus Medical, Inc., Medtronic plc, NuVasive, Inc., Orthofix International N.V., RTI Surgical, Inc., SeaSpine, and Zimmer Biomet Holdings, Inc. Other players include Life Spine, Inc., Nutech, and XTANT MEDICAL.
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