Spinal Devices And Biologics Market Report

Spinal Devices And Biologics Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2016 To 2024

Format: PDF  |  Report ID: 184

The global spinal devices & biologics market is expected to grow rapidly over the forecast period. Technical expansion in spine surgery equipment, and increasing aging and obese population coupled with rising number of spine deformities, and surging demand for minimally persistent spine surgery process are the main factors that are expected to fuel the expansion of the spinal devices and biologics industry. However, the severe product approval process, ambiguity in reimbursement, and soaring cost of cure procedures are various factors expected to pose a challenge for expansion of this market. Moreover, shortage of adequate patient awareness about novel developed treatment technologies and methods and soaring pricing pressure on industry players are other factors obstructing the growth. The increasing use of spine devices and biologics among surgeons has directed to a growing requirement for products that are supported by this technique. Moreover, the expansion in aging inhabitant’s Spinal Biologics is equipment that is expansively utilized for spinal cord injury bone fusion surgery and degenerative disk disease. The cure may comprise of the utilization of bone morphogenetic protein, mesenchymal stem cells, allografts, demineralized bone matrix, autografts, and ceramics. These materials help the body's natural curative processes and are utilized to eradicate degenerated discs. The results are perceived through enlarged cellular activity, development, and differentiation. For instance, in the case of such as screws and pedicle rods utilized in spine fusion cases to offer fusion healing and spinal stability. Moreover, since metals are static in nature, they do not excite or trigger cellular development or change mobile job such as natural curing. Biological materials are favored even more by surgeons doing spinal fusion surgeries owing to their stability At present, BMP's (bone morphogenetic proteins) are biologic materials that are mostly utilized in spinal surgery.

By technology, the industry can be segregated into spinal fusion & fixation, fracture treatment, non-fusion technologies, motion preservation and compression. The sector can be divided into five main segments by products that are lumbar fusion, vertebral compression fracture treatment devices, cervical fusion devices, spine bone stimulators and thoracic fusion. By surgery, the global spinal devices market can be segregated into minimally invasive surgery, global spinal implants and open surgery. The market can be divided into Foraminotomy, facetectomy, corpectomy procedures, discectomy, and laminectomy/ laminotomy. By product, the industry can be separated into bone graft substitutes; bone marrow aspirate contemplates therapy, bone grafts and PRP (platelet-rich plasma). Bone graft substitute market is expected to dominate over the forecast period. By surgery, the industry can be segregated into ACDF (anterior cervical discectomy,& fusion), TLIF (transforaminal lumbar interbody fusion) and LLIF (lateral lumbar interbody fusion) and other surgeries. The ACDF section is expected to capture maximum revenue over the forecast period which is followed by TLIF segment. By regions, the market can be segregated into North America, Europe, Asia Pacific and Rest of World. North America is expected to capture maximum revenue over the forecast period owing to increasing cases of spinal disorders. Asia Pacific is projected to grow rapidly regarding revenue generation over the forecast period due to increasing income levels, growing healthcare expenses, the presence of vast patient population coupled with rising government funding & awareness about these devices. The scarcity of trained health workers & expertise and shortage of patient consciousness is expected to restrict the growth over the forecast period. Europe stands second regarding revenue generation over the forecast period owing to tremendous patient awareness accompanied by technological advancement happening in this region over the forecast period.

Prominent players in the industry are NuvasiveInc, Orthofix International N.V., ExactechInc, Wright Medical Technology Inc, DePuySynthes Companies. Others include Zimmer Holding Inc, K2M Inc, Medtronic Inc, LDR Holding Corporation Zimmer-Biomet Holdings, Alphatec Holdings, Inc, Globus Medical, Inc., Biomet Spine, Amedica, Orthovita and DePuySynthes, Integra LifeSciences, Pioneer Surgical and TranS1.

High price issues and unbalanced compensation policies are expected to hold back the growth of the companies active in this market. Companies working in this area need to explain their scientific evidence in their product so that they can pioneer in revenue generation, for this, they need proper experts with knowledge about these spinal devices and biologics. The companies need to understand the current need of the customers so that they can inculcate and come up with latest innovations in their product. It helps them in boosting their sales. The companies active in this market need to understand the importance of campaigns that are directed towards increasing the awareness of these devices around the world.

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