Spine Biologics Market - Report Analysis and Market Insights for highly profitable investment decision : Industry Outlook by 2024

A biologic is a substance which actively alters its surrounding environment and effects a change through a biological process. Biologics have been an increasingly important component to be used in spinal fusion surgery, due to the growing awareness about their potential impact, usage of bone graft substitutes, and the rising geriatric population.

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Spine biologics are used in the treatment of spine trauma, tumors, and degenerative diseases in order to achieve arthrodesis in case of deformity or instability. They actively improve bone formation and stimulate spinal fusion, unlike metals, which are inert and do not alter cell function or stimulate cell growth. The favored usage of biologics among surgeons, the minimal pain and invasiveness they cause, and the rise in obesity as well as geriatric population are drivers of the global spine biologics market. However, the high cost of the process is expected to be a constraint during the forecast period.

The spine biologics market has been segmented by product, type of surgery, end-user, and regions. In terms of product type, spine biologics are classified into the bone graft, bone graft substitution, platelet rich plasma (PRP), and bone marrow aspirate (BMAC) categories. Based on type of surgery, the divisions are anterior cervical discectomy and fusion (ACDF), anterior lumbar interbody fusion (ALIF), lateral lumbar interbody fusion (LLIF), and transforaminal lumbar interbody fusion (TLIF). Bone morphogenetic protein is predominantly employed in spinal surgery. RhBMP-2 approved by FDA in 2002 and marketed as infuse by Medtronic Sofamor Danek, Inc. is used for insertion within a titanium tapered cage in anterior lumbar interbody fusion surgery.

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Geographically, the spine biologics market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America holds a major share in the market, followed by Europe, due to developed technologies and hospitals, rise in the citizens’ per capita income, and improved medical literacy. The market in Asia Pacific is projected to expand at a higher rate due to the rising population, significant improvements in medical technology, awareness, improved medical coverage, and growing demands in India and China.

Some of the key players operating in the market include Alphatec Spine, DePuy Spine, Medtronic, Stryker Corporation, Smith & Nephew Plc, Orthovita Inc., Zimmer Spine Inc., K2M, Nuvasive, Lattice Biologics, Arthrex, Inc., DMP Spine, Orthofix Holdings, RTI Surgical, Wright Medical Technology, Cesca Therapeutics, and Precision Spine. These companies are following strategic approaches such as mergers and product launches while also focusing on cost-effective surgeries and patient awareness to maintain a significant position in the global spine biologics market.

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