Global Spinal Devices and Biologics Market Scenario Highlighting Key Driver

Global Spin Devices and Biologics Market Scenario Highlighting Key Drivers

The growing senior population and associated medical conditions are anticipated to drive demand for spinal devices. Furthermore, the rising incidence of degenerative disc disease, complex deformities and traumas is expected to fuel market expansion.

The global spine implants and biologics market is anticipated to experience a substantial compound annual growth rate (CAGR) over the forecast period, driven by technological advancements, rising demand for minimally invasive procedures, and an increasing number of spinal surgeries.

Ageing Population

The ageing population is one of the major forces driving growth in the global spinal devices and biologics market. Over 65s are projected to become even larger in number over time, creating an opportunity for companies in this space.

This will lead to an increasing need for surgical treatment of spinal deformities and disorders among the elderly, particularly in Asia Pacific and Latin America, where populations are aging rapidly.

Furthermore, the population is becoming obese, increasing the likelihood of developing spine disorders. To combat this need for minimally invasive surgical procedures that use biologics like bone graft substitutes and other therapies, minimally invasive surgeries using biologics have become increasingly popular.

Additionally, technological advances in spinal treatment equipment are driving the global spinal devices and biologics market. This includes 3D printed implants, spinal navigation tools, as well as customized implant designs tailored to specific patient needs.

Additionally, technological advancements in spinal surgery are forecast to propel the global spinal devices and biologics market. For instance, RTI Surgical Holdings recently approved Coflex, a posterior lumbar motion-preserving stabilizer device, for treating lumbar spinal stenosis.

Despite these trends, challenges and obstacles are anticipated to hamper growth in the global spinal devices and biologics industry. These include uncertainty regarding reimbursement policies, high prices, as well as a need for product approvals.

According to the United States Department of Health and Human Services, the number of people aged 65 or over has been growing rapidly since 1950 and is projected to reach 2.4 billion by 2100.

Healthcare systems and the demand for medical services, particularly surgical treatments, will be significantly affected. In particular, an aging population may necessitate more fusion and fixation spinal surgeries, leading to increased demand for spinal devices and biologics.

The global spinal devices and biologics market is expected to experience a positive growth throughout the forecast period. This growth is being fuelled by rising affluence, an aging population, as well as technological advancements in surgical treatment methods. Furthermore, advanced fusion/fixture equipment that allows for minimally invasive surgeries will further fuel this market growth.

Increasing Incidence of Spinal Disorders

Spinal disorders are a leading cause of chronic pain and disability, with significant economic and psychosocial repercussions. They may arise from various pathologic sources such as spinal fractures, disc degeneration, spinal stenosis, spondylosis, tumors or age-related conditions like osteoporosis.

Each year, around 250 000 to 500 000 people worldwide suffer from spinal cord injury (SCI), which is a leading cause of morbidity, mortality and economic loss. Furthermore, SCI plays an important role in creating inequalities by impairing people's capacity for participation in society as well as their quality of life.

Spinal disorders can arise for many reasons, but it is essential to detect and treat them promptly. Delaying treatment will make it more challenging, leading to serious complications like infection or organ failure that are costly both to individuals and the economy alike.

The prevalence of spinal disorders is growing rapidly worldwide, particularly in developing countries. Furthermore, as the global population ages, there will be an increasing demand for medical devices that can effectively treat these conditions.

This anticipated surge in demand is anticipated to drive the global spinal devices and biologics market. The industry is projected to experience a healthy compound annual growth rate (CAGR) of 4.8% during the forecast period.

Spinal devices are used in spinal surgeries to correct deformities, fractures and disc degeneration. These may include cervical/thoracolumbar devices, interbody devices, artificial discs, dynamic stabilization devices, annulus repair devices and vertebral compression fracture devices.

Technological Advancements

Technological advances are an important force in the global spinal devices and biologics market. These innovations include spine navigation tools, personalized implants, and 3D-printed implants that can be tailored to suit individual patients' needs.

The use of biomaterials in implants is another key trend driving growth in the global market. Spinal implants can be used to correct deformities, stabilize the spine, and facilitate bone fusion for various spinal disorders such as slipped discs, spinal stenosis, osteoarthritis, and scoliosis.

Modern medical technology and an increasing demand for minimally invasive procedures are fueling this market. Utilizing these technologies in treating spinal disorders can reduce recovery time and hospital stays, alleviate postoperative pain and discomfort, and ultimately enhance patient outcomes.

Furthermore, advancements in spinal fusion surgery are expected to drive market growth over the coming years due to an aging geriatric population that is increasingly vulnerable to spinal diseases.

However, this growth will be restricted due to strict regulatory policies concerning spinal implants and devices. Furthermore, the increasing cost of products and procedures could adversely impact market expansion.

Technological advances can help companies overcome these difficulties and propel the market. RTI Surgical Holdings, for instance, has developed Coflex: a motion-preserving stabilization device for lumbar spinal stenosis that can be implanted without fuseing the spine.

This technology is available in a range of sizes to accommodate each patient's anatomy and can even be performed as an outpatient procedure. The patented, FDA PMA-approved Coflex is an exceptional device that can be directly implanted following decompression surgery.

Other key factors driving market growth include an increasing incidence of spinal disorders, improved healthcare facilities and an aging population. Furthermore, minimally invasive surgeries are becoming more popular in several regions which will further fuel demand for spinal implants and devices.

The global market for spinal implants and devices is dominated by North America and Europe. The Asia-Pacific region, however, is expected to experience the fastest growth during this forecast period with a compound annual growth rate (CAGR) of 6.9%. This growth can be attributed to increasing awareness about their advantages among patients, an increased availability of surgeons, as well as improvements to healthcare infrastructure within this region.

Increasing Adoption of Minimally Invasive Surgery

The global spinal devices and biologics market is being driven by the increasing adoption of minimally invasive surgery, which requires small incisions that allow surgeons to view their work on a monitor during the procedure. Specialized surgical instruments are used during this procedure for cutting, stitching, and stapleing structures together.

Additionally, these surgeries are less invasive than traditional open and laparoscopic techniques and reduce recovery time and pain. They can be performed on a range of spinal diseases.

The global spine biologics market is being driven by an increase in spinal disorders, rising demand for implants, minimally invasive surgical techniques and technological advances in this field. Furthermore, an aging population and its associated comorbidities are further fuelling growth within this space.

The market for spinal devices and biologics is highly fragmented due to the abundance of vendors. This makes it difficult to accurately forecast market size or forecast future trends.

Factors that drive the market include economic indicators like GDP, interest rates and unemployment rate; as well as regulatory issues which can shape price and demand curves.

Furthermore, these factors influence consumer behaviors by causing them to make decisions based on emotions which in turn create price signals.

Other factors driving the market include government policies and initiatives such as increased reimbursement, awareness campaigns for spinal conditions, and technological advances in this area. These factors are anticipated to continue propelling global spine biologics market until 2030.

The global spine biologics market has been divided into product, surgery type, end-user and region. Products can be classified into bone graft substitutes, bone grafts, platelet rich plasma (PRP) and bone marrow aspirate concentrate (BMAC).

North America held the majority of the global spine biologics market in 2020 and is forecast to remain dominant during the forecast period. This is attributed to its high prevalence of chronic diseases, presence of key players, development within the healthcare industry, and increasing adoption of minimally invasive surgeries.