Global Spine Biologics Market – Industry Analysis and Forecast (2019-2026)
Global Spine Biologics Market was valued US$ XX Bn in 2018 and is expected to reach US$ 3.11 Bn by 2026, at a CAGR of around XX % during a forecast period.
Spine biologics is a treatment that is used during spine fusion surgery for the treatment of spinal deformities that comprise spinal cord injuries, trauma, degenerative disc disease, and tumors. It stimulates the growth of the bone formation over different stages which include inflammatory, repair, and remodeling.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Major factors that are driving the spine biologics market growth include an increase in the number of geriatric population, benefits providing by spine biologics is faster recovery, minimal postoperative time, and ability to activate cellular growth. Spinal injuries can be because of the enlargement of bones & joints, thickening of the band of the tissue, which supports the spine. This is the key factor that is fuelling market growth in the upcoming years. People who are at the high risk of spinal deformities need to undergo spinal fusion surgery thus growing its demand in the global market. However, higher cost of the bone grafts, hostile reimbursement scenario, and concerns regarding the bone grafting procedures are expected to hinder the spine biologics market growth.
The report covers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a significant role in the enlargement of the market from 2019 to 2026.
Based on the product, the spinal allografts segment is expected to register a major XX% revenue share in the spine biologics market globally. The spinal allografts are an assumption of allografts over auto grafts is quickly increasing owing to properties such as immediate operational support and osteoconductivity. Moreover, allografts form not require another surgery to harvest the bone, and coiled healing. Hence, natural bone grafts are harvested from a patient’s body.
The hospital’s segment is expected to dominate the XX% market share during the forecast period. The hospitals’ segment is mainly determined by an improved number of spine fusion surgeries performed in these facilities. However, high hospitalization charges have converted into reducing patient admittances in hospitals, with the number of outpatient visits observing a surge. This is likely to threaten the implementation of spine biologics in hospital surroundings over the forecast period.
Region-wise, The Asia Pacific market is projected to demonstrate significant growth owing to the presence of a large patient pool and developing awareness among surgeons and patients pertinent to the benefits of biologics. Improvements in infrastructure and healthcare facilities in the region and the high prevalence of spine injuries are some of the factors dynamic the regional market. Changing lifestyle designs have resulted in an increasing prevalence of obesity, which is also likely to fuel the market over the forecast period.
The report covers the recent development in the spine biologics market like, in March 2018, Cell Right Technologies Signed a Multi-Year Distribution Agreement By Arthrex Inc, a producer of orthopedic surgical solutions. Cell right is an establishment that creations osteobiologics which are used in orthopedic, spine and intensifying the healing ventures of problems caused by pain & disease. The multi-time commitment would provide surgeons arrival to qualified osteobiologics and advanced surgical instrumentation and techniques helping to succeed better patient effects.
The objective of the report is to present a complete calculation of the Global Spine Biologics Market and contains thoughtful insights, historical data, facts, industry-validated market data and plans with a suitable set of assumptions and methodology. The report also helps in the Global Spine Biologics Market is a dynamic structure by identifying and analyzing the market segments and project the global market size. The additional, report also focuses on the competitive analysis of key player’s by-product, financial position, price, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Global Spine Biologics Market.