Spine Biologics Market Size, Share Analysis and Growth Forecast 2032
Ngày đăng: 08-08-2023 |
Ngày cập nhật: 08-08-2023
The global Spine Biologics Market exhibited a valuation of USD 2.74 billion in the year 2022, and analysts predict a robust compound annual growth rate (CAGR) of 4.5% during the upcoming forecast period. The surge in revenue can be attributed to several key drivers, including the escalating prevalence of spinal disorders and a heightened awareness among patients about the benefits of minimally invasive procedures. The World Health Organization (WHO) highlights that the annual global incidence of spinal cord injuries ranges between 250,000 to 500,000 cases, underscoring the pressing need for effective treatment. The realm of spine biologics encompasses biomaterials designed to address degenerative disc diseases, spinal cord injuries, and bone fusion surgeries.
Furthermore, the growing demand for bone grafting plays a pivotal role in propelling market growth. This technique is indispensable in repairing bones following severe fractures or when conventional healing mechanisms fall short. Additionally, bone grafting assists in alleviating persistent pain by fusing adjoining bones. Marrow, the spongy substance residing within bones, harbors stem and progenitor cells that expedite the healing of bone fractures.
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A notable procedure involves extracting bone marrow from the iliac crest of the hip bone using a needle. This bone marrow aspirate is subsequently employed either individually or in tandem with other bone transplants to enhance bone repair after allograft surgery. Moreover, the surge in partnerships among market players augments market growth. A prime example is the strategic partnership forged on August 2, 2022, between Orthofix Medical Inc., a global medical device company specializing in spine and orthopedics, and CGBio, a developer of innovative synthetic bone grafts utilized in spine, orthopedic, trauma, and dental applications across Asia. This partnership aims to focus on clinical development and marketing of NovosisTM recombinant human bone morphogenetic protein-2 (rhBMP-2) bone growth materials and potential regenerative solutions in the U.S. and Canada.
The market dynamics further reveal that the escalating demand for Minimally Invasive Surgery (MIS) significantly fuels revenue growth. MIS surgery offers manifold advantages, including reduced muscular and soft tissue trauma, diminished post-surgery discomfort, shorter hospitalization periods, expedited recovery, and quicker resumption of normal activities. The smaller incisions in MIS procedures translate to minimal blood loss and even enable outpatient procedures. This technique supports spinal stability and aids in alleviating spinal nerve compression-induced pain. Moreover, patients undergoing MIS surgeries experience reduced intraoperative and post-operative pain, curbing the need for potent pain medications. Medtronic, for instance, unveiled advancements in its minimally invasive spine surgery ecosystem, offering an integrated suite of spinal implants, biologics, navigation, robotics, and AI-powered data.
However, the market is not without its challenges. Costly procedures associated with spine biologics can pose a significant hindrance to revenue growth. Additionally, certain operations could lead to restrictions in performing regular thoracic movements, thereby limiting market expansion. The risk of vertebral bone and bone graft fusion failure in Transforaminal Lumbar Interbody Fusion (TLIF) surgeries could also curb revenue growth.
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Segment-wise, the report divides the market based on type, surgery type, and end-use. Spinal allografts, bone graft substitutes, cell-based matrix, and other categories constitute the types. The demand for spinal allografts is projected to dominate due to their extensive use in lumbar spine procedures. Similarly, the surgery types comprise Anterior Cervical Discectomy and Fusion (ACDF), Transforaminal Lumbar Interbody Fusion (TLIF), Lateral Lumbar Interbody Fusion (LLIF), Anterior Lumbar Interbody Fusion (ALIF), among others. The ACDF and TLIF segments are set to drive significant growth due to their effectiveness in relieving pressure on spinal cords and nerves. The end-use classification features hospitals, Ambulatory Surgical Centers (ASCs), and others. Hospitals are anticipated to experience steady revenue growth due to well-equipped diagnostic facilities and skilled healthcare professionals adept at performing spine biologics procedures.
From a regional standpoint, North America holds the largest revenue share in the global spine biologics market, attributed to its advanced healthcare facilities and high incidence of spinal disorders. Europe is poised for rapid growth, driven by the escalating demand for Minimally Invasive Spine (MIS) surgeries and the prevalence of spine disorders. In the Asia Pacific, technological advancements and improved medical infrastructure, especially in countries like India, Japan, Singapore, and China, are expected to contribute significantly to revenue growth.
In the competitive landscape, the global spine biologics market is dominated by a handful of key players, both on a global and regional scale. These players engage in strategic collaborations to expand their product portfolios and solidify their global market presence. Prominent companies in this market include Medtronic, Stryker, NuVasive, Inc., Zimmer Biomet, and more. For instance, Alphatec Holdings, Inc. introduced expandable interbody and access technology to enhance the medialized MIS posterior approach. Similarly, ChoiceSpine LLC partnered with eCential Robotics to offer an integrated solution integrating navigation, robotics, and implant systems.
In conclusion, the global spine biologics market is witnessing robust growth driven by factors such as the prevalence of spinal disorders, patient preference for minimally invasive procedures, and advancements in medical technology. While cost-prohibitive procedures and associated risks pose challenges, the industry remains poised for expansion. The segmentation into types, surgery types, and end-use allows for a comprehensive understanding of market dynamics, while the regional breakdown highlights key growth regions. The competitive landscape showcases the dominance of key players and their strategic initiatives. With these factors at play, the spine biologics market is set to undergo significant evolution in the forecast period.
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Furthermore, the growing demand for bone grafting plays a pivotal role in propelling market growth. This technique is indispensable in repairing bones following severe fractures or when conventional healing mechanisms fall short. Additionally, bone grafting assists in alleviating persistent pain by fusing adjoining bones. Marrow, the spongy substance residing within bones, harbors stem and progenitor cells that expedite the healing of bone fractures.
Get a free sample PDF of the report, visit @ https://www.reportsanddata.com/download-free-sample/3495
A notable procedure involves extracting bone marrow from the iliac crest of the hip bone using a needle. This bone marrow aspirate is subsequently employed either individually or in tandem with other bone transplants to enhance bone repair after allograft surgery. Moreover, the surge in partnerships among market players augments market growth. A prime example is the strategic partnership forged on August 2, 2022, between Orthofix Medical Inc., a global medical device company specializing in spine and orthopedics, and CGBio, a developer of innovative synthetic bone grafts utilized in spine, orthopedic, trauma, and dental applications across Asia. This partnership aims to focus on clinical development and marketing of NovosisTM recombinant human bone morphogenetic protein-2 (rhBMP-2) bone growth materials and potential regenerative solutions in the U.S. and Canada.
The market dynamics further reveal that the escalating demand for Minimally Invasive Surgery (MIS) significantly fuels revenue growth. MIS surgery offers manifold advantages, including reduced muscular and soft tissue trauma, diminished post-surgery discomfort, shorter hospitalization periods, expedited recovery, and quicker resumption of normal activities. The smaller incisions in MIS procedures translate to minimal blood loss and even enable outpatient procedures. This technique supports spinal stability and aids in alleviating spinal nerve compression-induced pain. Moreover, patients undergoing MIS surgeries experience reduced intraoperative and post-operative pain, curbing the need for potent pain medications. Medtronic, for instance, unveiled advancements in its minimally invasive spine surgery ecosystem, offering an integrated suite of spinal implants, biologics, navigation, robotics, and AI-powered data.
However, the market is not without its challenges. Costly procedures associated with spine biologics can pose a significant hindrance to revenue growth. Additionally, certain operations could lead to restrictions in performing regular thoracic movements, thereby limiting market expansion. The risk of vertebral bone and bone graft fusion failure in Transforaminal Lumbar Interbody Fusion (TLIF) surgeries could also curb revenue growth.
To know more about the latest insights of the report, visit @
https://www.reportsanddata.com/request-latest-insight/3495
Segment-wise, the report divides the market based on type, surgery type, and end-use. Spinal allografts, bone graft substitutes, cell-based matrix, and other categories constitute the types. The demand for spinal allografts is projected to dominate due to their extensive use in lumbar spine procedures. Similarly, the surgery types comprise Anterior Cervical Discectomy and Fusion (ACDF), Transforaminal Lumbar Interbody Fusion (TLIF), Lateral Lumbar Interbody Fusion (LLIF), Anterior Lumbar Interbody Fusion (ALIF), among others. The ACDF and TLIF segments are set to drive significant growth due to their effectiveness in relieving pressure on spinal cords and nerves. The end-use classification features hospitals, Ambulatory Surgical Centers (ASCs), and others. Hospitals are anticipated to experience steady revenue growth due to well-equipped diagnostic facilities and skilled healthcare professionals adept at performing spine biologics procedures.
From a regional standpoint, North America holds the largest revenue share in the global spine biologics market, attributed to its advanced healthcare facilities and high incidence of spinal disorders. Europe is poised for rapid growth, driven by the escalating demand for Minimally Invasive Spine (MIS) surgeries and the prevalence of spine disorders. In the Asia Pacific, technological advancements and improved medical infrastructure, especially in countries like India, Japan, Singapore, and China, are expected to contribute significantly to revenue growth.
In the competitive landscape, the global spine biologics market is dominated by a handful of key players, both on a global and regional scale. These players engage in strategic collaborations to expand their product portfolios and solidify their global market presence. Prominent companies in this market include Medtronic, Stryker, NuVasive, Inc., Zimmer Biomet, and more. For instance, Alphatec Holdings, Inc. introduced expandable interbody and access technology to enhance the medialized MIS posterior approach. Similarly, ChoiceSpine LLC partnered with eCential Robotics to offer an integrated solution integrating navigation, robotics, and implant systems.
In conclusion, the global spine biologics market is witnessing robust growth driven by factors such as the prevalence of spinal disorders, patient preference for minimally invasive procedures, and advancements in medical technology. While cost-prohibitive procedures and associated risks pose challenges, the industry remains poised for expansion. The segmentation into types, surgery types, and end-use allows for a comprehensive understanding of market dynamics, while the regional breakdown highlights key growth regions. The competitive landscape showcases the dominance of key players and their strategic initiatives. With these factors at play, the spine biologics market is set to undergo significant evolution in the forecast period.
Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/3495
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.
Browse for more reports:
Cannabidiol (CBD) Gummies Market
Myopia Presbyopia Treatment Market
Burn Ointment Market
Cardiac Catheters Guidewires Market
Hormone Replacement Therapy (HRT) Market
Intravenous (IV) Tubing Sets and Accessories Market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
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