The global Spine Biologics market size is expected to be worth around US$ 2.7 billion by 2028, according to a new report by Vision Research Reports.
The global Spine Biologics market size was valued at US$ 1.10 billion in 2020 and is anticipated to grow at a CAGR of 4.6% during forecast period 2021 to 2028.
The market is primarily driven by increasing incidence of spinal injuries. Prevalence of spinal deformities has been on a rise in developed and underdeveloped countries and this has resulted in an increase in the number of surgeries being carried. This has had a positive impact on the market for spine biologics.
Apart from this, growing awareness about numerous advantages of biologics in spine fusion surgeries, such as minimal postoperative time and ability to activate cellular growth, has also propelled the market. Biomaterials and bone graft substitutes are being adopted as the choice of treatment for spinal deformities. Increasing percentage of the elderly population suffering from spinal disorders and rising adoption of these products as a treatment method is anticipated to boost the market for spine biologics over the forecast period.
The geriatric population is more prone to spondylolisthesis and degeneration of disc. This, coupled with increasing number of trauma cases due to road accidents and sports injuries, is driving demand for spine biologics. According to the Open Access Journal for Minimally Invasive Surgery (MIS) published in 2018, minimally invasive techniques are being adopted for the treatment of a wide range of spine pathologies. Approximately 400,000 cases are performed in the U.S. annually and spine fusion has turned out to be one of the most commonly performed and well-established treatment options for spine trauma, degenerative disorders, tumors, and structural abnormalities.
Based on the product, the global market for spine biologics has been classified into spinal allografts, bone graft substitutes, and cell-based matrix. Spinal allografts dominated the overall market in 2020 owing to the numerous benefits associated with its usage. Adoption of allografts over autografts is swiftly increasing owing to properties such as immediate structural support and osteoconductivity. Moreover, allografts do not require another surgery to harvest the bone, which results in reduced surgery time and wound healing. Natural bone grafts are harvested from a patient’s or a donor’s body. Companies such as Zimmer Biomet offer natural bone grafts (xenografts).
The bone graft substitutes segment is anticipated to witness lucrative growth in the field of spinal biologics owing to high adoption by surgeons and an increasing number of spinal fusion procedures. Also, the availability of advanced products in a variety of shapes and sizes providing high osteoconductive and osteoinductive properties is supporting its demand. Furthermore, a paradigm shift toward minimally invasive procedures is augmenting market growth globally.
Based on end-use, the global spine biologics market has been segmented into hospitals, ambulatory surgical centers (ASCs), and others. The hospital segment accounted for the largest revenue share in 2020 and this trend is anticipated to continue throughout the forecast period. The segment is primarily driven by an increased number of spine fusion surgeries performed in these facilities. However, in recent years, high hospitalization costs have translated into dipping patient admissions in hospitals, with the number of outpatient visits witnessing a surge. This is likely to threaten the adoption of spine biologics in hospital settings over the coming years.
The Ambulatory Surgery Center (ASC) segment is anticipated to witness lucrative growth in the market for spine biologics. Increasing demand for minimally invasive surgeries, technological developments in surgical devices and equipment, and surgeons’ control over the choice of such equipment are some of the factors projected to propel segment growth. Rising healthcare costs are a major concern plaguing the industry and with it comes the fact that not many patients can afford the treatment they need, including surgical procedures. This has compelled healthcare providers to come up with new ways to make such services more affordable while also focusing on quality. ASCs have proven to be an effective solution in this scenario.
North America holds the largest share in the global market for spine biologics, followed by Europe. The growth of the market can be attributed to stable economic growth, increased adoption of minimally invasive surgeries, and rising prevalence of spine disorders such as spinal stenosis, disc-related issues, and spondylolisthesis. According to the National Spinal Cord Injury Statistical Center, in 2017, approximately 285,000 people in the U.S. were reported to have been suffering from various spinal cord injuries.
Stryker; Orthofix Holdings, Inc.; NuVasive, Inc.; K2M Inc.; DePuy Synthes; Wright Medical Group N.V.; Exactech, Inc.; Zimmer Biomet; Arthrex, Inc.; Medtronic Inc.; Organogenesis; and Lattice Biologics Ltd.
Machined Bones Allograft
Demineralized Bone Matrix
Bone Graft Substitutes
Bone Morphogenetic Proteins
Synthetic Bone Grafts
Ambulatory Surgical Centers
Middle East & Africa
The Spine Biologics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Spine Biologics market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Spine Biologics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Spine Biologics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Spine Biologics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Spine Biologics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Spine Biologics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Spine Biologics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Spine Biologics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Spine Biologics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Spine Biologics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Spine Biologics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Spine Biologics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Spine Biologics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Spine Biologics market. These factors have benefited the growth of the global market for Spine Biologics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Spine Biologics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Spine Biologics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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