Report Code: A01625 | Pages: 174 | Mar 2017 | 13396 Views | ||
Author(s) : Deepa T | Tables: 33 | Charts: 41 |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Spine Biologics Market
Request Now !Global spine biologics market generated revenue of $1,644 million in 2015, and is projected to reach $2,214 million by 2022, growing at a CAGR of 4.3% during the forecast period. Spine biologics are used during spine fusion surgery for the treatment of spinal deformities such as trauma, tumors, degenerative disc disease, and spinal cord injuries. Increase in geriatric population, advantages of biologics such as minimal postoperative time, faster recovery, and their ability to activate cellular growth are the factors that drive the market growth. However, unfavorable reimbursement scenario, higher cost of the bone grafts, and certain ethical issues related to bone grafting procedures are expected to restrain the growth of the market.
Biologics are used during spinal fusion procedure, as they stimulate bone growth formation through inflammatory stage, repair stage, and remodeling stage. Therefore, rise in number of spinal fusion surgery boosts the use of biologics.
Increase in geriatric population is the major factor anticipated to fuel the demand for biologics in future. For instance, spinal disorders such as spinal stenosis is the most common problem in men and women over 50 years. Aging leads to structural alterations in spine such as thickening of the band of the tissue that supports the spine and enlargement of bones & joints, thus resulting in spinal impairment. According to “Eurostat”, the population of the European Union (EU) was estimated to be 508.5 million on January 1, 2015. Aged population (65 or over) had a share of 18.9%, which showed an increase of 0.4% compared to the previous year. Therefore, older people who are at a higher risk to develop spinal deformities have increased chances to undergo spinal fusion surgery, which in turn is projected to increase the demand for spine biologics.
South Africa: Spine Biologics Market ($Million), 2014-2022
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.
Segmentation
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.
Key Benefits of the Report
Loading Table Of Content...
Spinal disorders such as spinal stenosis, spondylolisthesis, and scoliosis constitute a major proportion of health and economic burden, hence usage of effective spine biologics during spine surgery becomes a vital need for the treatment of the spinal disorders. To alleviate the aforementioned spine-related disorders and improve patient’s quality of life, spinal surgery is emerging as an ideal treatment option. Thus, rise in demand for spine surgery consequently drives the growth of spine biologics market, as biologics are widely adopted to promote fusion healing, which pedicle screws and rods are unable to provide.
Increase in incidences of spine-related disorders such as stenosis has led to the increase in the adoption of the spinal biologics. In addition, elimination of the need to harvest bone from the patient’s body in a secondary procedure, stimulation of the process of bone growth in spinal fusion surgery, shorter operating times, and reduced hospital stays fuel the growth of the market globally.
Advent of spine surgery treatment is one of the major factors that boosts the market growth. For instance, most of the spine surgeons these days prefer minimal invasive surgical techniques for a wide range of spine fusion procedures, which further use spine biologics. This is attributed to minor complications associated with the procedure such as reduced length of hospital stays and less bleeding.
Geographically, Asia-Pacific offers lucrative growth opportunity for the market due to growth in healthcare expenditure, increase in geriatric population, and rise in incidence of spine impairments. Thus, emerging economies (such as China & India) possess high potential for the market growth in spine biologics.
Start reading instantly.
This Report and over 19,654+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers