The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Spine Biologics Global Market Report 2024, the spine biologics market is expected to show promising growth in the forecast period.

Robust Market Growth in Recent Years

• Market Size in 2023: The spine biologics market has seen significant growth, reaching $2.24 billion in 2023.
• Growth Rate: It is projected to grow to $2.36 billion in 2024 at a CAGR of 5.3%.
• Historic Growth Drivers: Key factors include advancements in biotechnology, an aging population, a high incidence of spinal disorders, increased preference for minimally invasive procedures, high awareness about spine health, improvements in diagnostic techniques, and enhanced healthcare infrastructure.

Strong Growth Expected in Coming Years

• Future Market Size: The market is expected to grow to $2.91 billion by 2028, with a CAGR of 5.4%.
• Forecast Growth Drivers: Anticipated growth factors include technological innovations, increasing adoption of regenerative medicine, rising investment in R&D, growing prevalence of obesity and sedentary lifestyles, expanding healthcare access in emerging markets, favorable regulatory approvals, and increasing industry collaborations and partnerships.
• Trends to Watch: Key trends include the emergence of novel regenerative therapies, integration of artificial intelligence in treatment planning, expansion of personalized medicine approaches, adoption of 3D printing for customized implants, and development of bioengineered scaffolds for enhanced tissue regeneration.

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Rising Number of Road Accidents Drives Market Growth

• Impact of Road Accidents: The rising number of road accidents globally is expected to propel the growth of the spine biologics market due to the need for advanced medical interventions for spinal injuries.
• Statistics: According to the National Highway Traffic Safety Administration, an estimated 42,915 people died in motor vehicle traffic crashes in 2021 in the US, marking a 10.5% rise from the 38,824 fatalities in 2020.
• Role of Spine Biologics: Spine biologics play a crucial role in improving patient outcomes by enhancing spinal fusion, speeding up healing, lowering surgical risks, improving pain management, and reducing the need for revision operations.

Major Players in the Spine Biologics Market

• Key Companies: Notable players include Johnson & Johnson Services Inc., Medtronic PLC, Stryker Corporation, Baxter International Inc., B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Arthrex Inc., Integra LifeSciences Corporation, Bone Biologics Corp., InVivo Therapeutics Corp., RTI Surgical Inc., Paragon 28 Inc., LifeNet Health Inc., Xtant Medical Holdings Inc., Kuros Biosciences A.G., CoreLink LLC, Spinal Elements Inc., Life Spine Inc., Innovasis Inc., Camber Spine Technologies LLC, SurGenTec LLC, ChoiceSpine LLC, Cerapedics Inc., Aziyo Biologics, Amedica Corporation.

Innovative Synthetic Bioactive Bone Grafts for Spinal Fusion Procedures

• Advanced Products: Companies are developing synthetic bioactive bone grafts to better serve patients and gain a competitive edge in the market.
• Example: In February 2022, Orthofix Medical Inc. launched Opus BA, a synthetic bioactive bone graft for cervical and lumbar spine fusion procedures. This product acts as a scaffold for bone growth, is reabsorbed and replaced by natural bone, and features an osteoconductive matrix made from carbonate apatite bone mineral, bioactive glass, and Type 1 collagen.

Xtant Medical’s Strategic Acquisition

• Acquisition Details: In August 2023, Xtant Medical acquired certain assets and liabilities of Surgalign Holdings Inc.’s biologics and spinal fixation products. This acquisition aims to expand Xtant Medical’s product portfolio and market presence in the orthopedic and spine surgery sectors.

Market Segmentation

• By Product: Bone Allografts, Bone Graft Substitutes, Platelet Rich Plasma, Bone Marrow Aspirate Therapy.
• By Surgery Type: Anterior Cervical Discectomy and Fusion (ACDF), Posterior Lumbar Interbody Fusion (PLIF), Transforaminal Lumbar Interbody Fusion (TLIF), Anterior Lumbar Interbody Fusion (ALIF), Lateral Lumbar Interbody Fusion (LLIF), Other Surgery Types.
• By Application: Spinal Fusion, Spinal Non-Union and Fracture Repair, Degenerative Disc Disease Treatment, Other Applications.
• By End User: Hospitals, Spinal Surgery Centers, Orthopedic Clinics, Other End Users.

Regional Insights

• Largest Region in 2023: North America was the largest region in the spine biologics market.
• Fastest-Growing Region: Asia-Pacific is expected to be the fastest-growing region in the forecast period, driven by advancements in healthcare infrastructure and increasing adoption of innovative medical technologies.

The spine biologics market is poised for steady growth, driven by technological advancements, increasing demand for minimally invasive procedures, and strategic industry movements. With ongoing innovations and expanding applications, this market promises significant improvements in spinal health and patient outcomes.

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