Spine biologics are utilized at the time of spine fusion surgery for the treatment of spinal deformities and disorders such as, tumors, trauma, spinal cord injuries and degenerative disc disease by stimulating bone growth formation through repair stage, inflammatory stage and remodeling stage. Therefore, increase in the number of spinal fusion surgeries have fueled the utilization of biologics. The key factors driving the market growth of spine biologics are, rising geriatric population across the globe and various benefits provided by the biologics.
MARKET SCOPE
The "Global Spine Biologics Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the spine biologics market with detailed market segmentation by product and end user. The report provides key statistics on the market status of the leading spine biologics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product the market is segmenetd as, bone graft substitutes, spinal allografts, cell-based matrix.
- Based on end user the market is bifurcated as, hospitals and ASCs.
MARKET DYNAMICS
Drivers:
- Increasing geriatric population along with rising prevalence of spine and related disorders.
- Benefits of biologics such as, faster recovery, minimal postoperative time and ability to activate cellular growth.
- Advancements in bone grafting procedures along with rising demand for minimally invasive procedures.
Restraints:
- However, the market's growth is restrained by an unfavourable reimbursement scenario, higher bone graft costs, and ethical concerns about bone grafting procedures.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The spine biologics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the spine biologics market in these regions.
IMPACT OF COVID-19 ON SPINE BIOLOGICS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the spine biologics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from spine biologics market are anticipated to lucrative growth opportunities in the future with the rising demand for spine biologics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the spine biologics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Stryker
- Orthofix Medical Inc
- NuVasive, Inc.
- NuTech Spine, Inc.
- Medical Devices Business Services, Inc
- Wright Medical Group N.V.
- Exactech, Inc
- Zimmer Biomet
- Arthrex, Inc.
- Medtronic