The spine biologics are used in spine surgery as lieu allografts as well as a support for bones in and around the spinal region. These devices offer numerous benefits over materials such as pedicle rods and screws that are used in spine fusion. Since metals are inert in nature, they do not stimulate or activate cellular growth or alter cellular functions such as natural healing. Spine biologics, on the other hand, activate cellular growth by stimulating spine fusion.
There are lots of exciting as well as difficult factors involved in spine biologics. According to the recently conducted research, the global market of spine biologics devices is expected to reach $2.4 Billion, at CAGR of 4.4% till 2020.
The driving forces for global spinal biologics market include rising incidence of spinal disorders, awareness of patients, rising healthcare expenditure in developing nations owing to growing income levels, rising obesity cases, awareness on the newly developed spine treatment techniques and devices, technological advancements, and rising demand of minimally invasive spine surgeries. Companies operating spine biologics market are also focusing on the factor like increasing the number of expertise, patient awareness, and reducing the cost of spine surgery, and better reimbursement scenario.
Traditionally, allografts were considered as a gold standard for replenishment of the spinal bones. However, drawbacks such as donor site complications, high surgical cost, lengthy surgical surgeries, and longer recovery time resulted in a shift from allograft bones to other biological alternatives, such as bone morphogenetic proteins (BMP), demineralized bone matrix (DBM), and bone substitutes. BMPs stimulate the process of bone growth and spinal fusion. They offer advantages such as minimal postoperative pain, shorter hospital stays, faster recovery, in addition to eliminating the need of harvesting bone from patient. Currently, clinical investigation in order to increase its application in spine degenerative disc surgery is in process.
The global market is dominated by North America, followed by Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to continue to lead the spine biologics market in coming years, followed by Europe. The market in Asia-Pacific is projected to grow at the highest CAGR of 7.6% till 2020. The growth in this region is expected to be driven by rising aging population, increasing per capita healthcare expenditure, and rising demand from China and India due to their respective large population base.
Various market players are adopting popular strategic approaches such as new product launches, mergers & acquisition and others, in order to expand their product line and to maintain an instrumental position in global market of spine biologics devices.
Some of the major companies in the spine biologics globally are Medtronic Inc., Depuy Synthes Companies, Zimmer Holding Inc., Nuvasive Inc., Stryker Corporation, Orthofix International N.V., K2M Inc., Exactech Inc., Wright Medical Technology Inc., and others.
In overall, we can say that due to the rising importance of spine biologics devices and necessities of introducing advanced or specialized spine biologics technologies, is going to create significant market opportunities for manufactures of medical devices.
The statistics are given by the report, ‘Spine Biologics Market by Product Type (Bone Graft, Bine Graft Substitute, Platelet Rich Plasma, BMAC), Surgery Type (Anterior Cervical Discectomy and Fusion, Posterior Lumbar Interbody Fusion), End User, and Geography – Global Forecast to 2020’
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The report concentrates on in-depth analysis of the global market of spine biologics devices and its market trends along with revenue forecast and competitive analysis derived on the basis of real time analysis, annual financial information from SEC filings, annual reports, and interviews with industry experts and leaders such as CEOs, directors, and marketing executives.