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“The emergence of biologic materials is one of the recent developments of spine fusion surgery. Earlier, autografts were considered as the ideal primary bone graft. However, allograft evolved as a better treatment option, owing to various associated complications such as pain, infection, and weakened bone. Thus, the use of biologics in spine surgeries is expected to witness higher demand in the future because of the constant development of new products.”
The report provides in-depth analyses of the key winning strategies, drivers & opportunities, market size & estimations, key market segments, and competitive landscape. According to the report, the global spine biologics market accounted for $1.64 billion in 2015 and is expected to garner $2.21 billion by 2022, registering a CAGR of 4.3% from 2014 to 2022.
Rise in geriatric population, advantages of biologic materials, and shift toward minimally invasive spine procedures are the major drivers of the global spine biologics market. However, high cost and ethical concerns related to grafting hamper market growth. On the contrary, untapped potential in the emerging economies is expected to create lucrative opportunities in the near future.
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Global Spine Biologics Market Report provides an overview of the market based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2019-2026). This report covers the impact of the latest COVID-19 on the market. The coronavirus epidemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly changing market scenarios and their impact are covered in the report.
Global spine biologics market is divided into product, surgery, and geography. On the basis of product, the market is segmented into spinal allografts, bone graft substitutes, and cell-based matrix. The demineralized bone matrix segment is projected to register CAGR of 3.4%, owing to its ability to stimulate bone formation. However, the synthetic bone grafts segment reaped more than half of the global bone graft substitutes market in 2015. Based on surgery, the market is bifurcated into open spine surgery and minimally invasive spine surgery.
On the basis of geography, the market is divided into North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). The North America region held the largest market share in 2015, contributing about two-thirds of the market share. Moreover, France and Germany combined accounted for more than one-third of the total share of European spire biologics market in 2015. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 5.3% during the forecast period, owing to improved healthcare infrastructure and increase in expenditure in the developing countries.
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The Major Key Players Are:
Alphatec Holdings, Inc., Exactech, Inc., Medtronic plc, Orthofix International N.V., SeaSpine, Depuy Synthes (Johnson & Johnson), Globus Medical, Inc., NuVasive, Inc., RTI Surgical, Inc., and Zimmer Biomet Holdings, Inc.
They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
Scope of The Report:
|Market size available for years||2015-2022|
|Base year considered||2015|
|Forecast units||Value (USD)|
|Segments covered||Product, and Surgery|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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