Spine Biologics Market: Dynamics Trends, Statistics, Segments Growth Factors Forecast to 2030Posted by Mrudula Anil Karmarkar on May 22nd, 2024 San Francisco, 22 May 2024: The ReportSpine Biologics MarketSize, Share & Trends Analysis Report By Product (Spinal Allografts, Bone Graft Substitutes, Cell-based Matrix), By End-use (Hospitals, Outpatient Facilities), By Region, And Segment Forecasts, 2024 - 2030 The global spine biologics market size is expected to reach USD 4.38 billion by 2030, registering a CAGR of 5.08% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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. The increasing prevalence of degenerative spine disorders and a subsequent increase in treatment rates, advancements in bone grafting procedures, and high demand for minimally invasive procedures are key contributing factors to market growth. According to the study published by ScienceDirect in April 2023, spinal degeneration is a common process in humans. In addition, the study reports that the prevalence of spinal degeneration is around 266 million (3.63 %) in 1 year across the globe. The increasing prevalence of degenerative spine disorders and a subsequent increase in treatment rates, advancements in bone grafting procedures, and high demand for minimally invasive procedures are key contributing factors to market growth. According to the study published by ScienceDirect in April 2023, spinal degeneration is a common process in humans. In addition, the study reports that the prevalence of spinal degeneration is around 266 million (3.63 %) in 1 year across the globe. Request sample report of Spine Biologics Market@https://www.grandviewresearch.com/industry-analysis/spine-biologics-market/request/rs1 Spine biologics comprises biomaterials that can be used to treat spinal cord injuries, degenerative disc disorders, and bone fusion surgeries. The usage of these products has always been crucial in spine surgery. Spinal fusion is a procedure used to correct defects in small bones (vertebrae) in the spine. Spine Biologics Market Report Highlights
Surgeons are using advanced biological mechanisms to treat spine deformities, such as direct lateral interbody fusion and extreme lateral interbody fusion. According to an article published by the Barrow Neurological Institute in May 2023, extreme lateral interbody fusion (XLIF) is a minimally invasive approach to lumbar spinal fusion surgery, and it has numerous advantages, including less surgery time, minimal blood loss, shorter hospital stays, and less post-operative pain. It can be used to treat numerous spinal disorders like Lumbar spinal stenosis, mild scoliosis, and degenerative disc disease with instability. Advancements in biomaterials make it easy for surgeons to treat people suffering from spine-related disorders, and such advancements are expected to drive the market demand over the forecast period. Industry players have been focusing on the development of technologically advanced to gain a competitive advantage. For instance, in July 2022, AlloSource introduced new AlloFuse micro fibres demineralized bone allograft for use in foot, ankle, spinal or orthopedic procedures. The market growth stage is medium, and the pace of the market growth is accelerating. The market is characterized by a moderate degree of innovation due to rapid technological advancements and increasing launches of novel products. Companies are entering the market and bringing advanced products into the market, which are expected to drive innovation in the industry. For instance, in October 2023 Biogennix, a manufacturer of osteobiologic products for spine surgery, introduced a new allograft, OsteoSPAN Fiber Matrix. When hydrated with bone marrow or blood, this product is cohesive and moldable and expands to conform to irregular bone voids. Such developments are expected to bring innovative products to the market. Spine Biologics Market Report Scope
The market is characterized by a moderate level of merger and acquisition (M&A) activity by leading players operating in the industry. This is due to numerous factors, including the desire to gain a competitive advantage in the industry and the need to consolidate in a rapidly growing market. Major industry participants are acquiring firms providing products for spinal surgeries. For instance, in October 2023, Biologica Technologies merged with the provider of allografts and products for spinal fusion, Isto Biologics. The merger has expanded Isto’s growing portfolio of bone grafts. Such acquisitions and mergers are expected to propel industry growth in the coming years. Furthermore, the industry participants operating across the industry are focusing on increasing their presence in several regions and improving access to the product and solutions needed during spinal surgeries across the globe. Key Spine Biologics Companies: The following are the leading companies in the spine biologics market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these spine biologics companies are analyzed to map the supply network.
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