Spine Biologics Market was worth USD 2.07 billion in 2016 and estimated to be growing at a CAGR of 4.4%, to reach USD 2.56 billion by 2021.
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 by stimulating bone growth formation through inflammatory stage, repair stage, and remodeling stage. Therefore, surge in the number of spinal fusion surgeries have fueled the adoption of biologics.
Spine Biologics market is growing due to advancement in technology as well as demand for better minimally surgical procedures which make it more convenient for both the patient and doctor. A rise in prevalence of diseases due to aging population, increased government funding, is driving the market in most regions. Biologics help in faster recovery and activate cellular growth. The biggest restrain in the market is the healthcare cost for such procedures and the substitute product available. There is a lack of expert professionals and unfavourable reimbursement scenario.
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Spine Biologics Market is broadly categorized into surgery type and product type. By surgery type the market is segmented into Anterior Cervical Discectomy and Fusion , Posterior Lumbar Interbody Fusion, Transforaminal Lumbar Interbody Fusion, Anterior Lumbar Interbody Fusion, Lateral Lumbar Interbody Fusion, Others. Anterior Cervical Discectomy and Fusioncontributed to a a large share in the market. By product type the market is classified into bone graft, bone graft substitutes, platelet rich plasma and bone marrow aspirate therapy. The bone grafts substitutes segment accounted for a major share of the market. On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Spine Biologics market was dominated by North America followed by Europe. Asia Pacific is expected to register a high CAGR.
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The major companies profiled in the report include 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.
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