LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global spine biologics market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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The top three emerging market trends driving the global spine biologics market according to Technavio research analysts are:
- Growing strategic alliances
- Increasing cases of lumbar fusion
- Increasing adoption of minimally invasive surgery
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Growing strategic alliances
Through mergers and acquisitions (M&A) strategy, companies are expanding their global footprint and market share. With M&A companies are focusing on increasing their product offerings and helping them to expand globally. For example, ChoiceSpine which is a spine biologics manufacturer, acquired the spinal assets of Exactech to strengthen their portfolio of bone and joint restoration for spine, extremities, hip, and knee. M&A helps companies to exchange technology, R&D, and expand their product portfolio. When large players acquire small players, there is ample scope to grow for small players through the platform provided by the large company.
According to a senior analyst at Technavio for orthopedic and medical devices “For strategic growth plans of many vendors in the market, M&A remains a major component. The companies in the spine biologics are primarily focused on M&A. Vendors are continuously focusing on the acquisition for diversification of their product portfolio and to increase their global reach.”
Increasing cases of lumbar fusion
For the treatments of several degenerative conditions of the spine, lumbar spinal fusion is a common procedure. Spinal fusion is the procedure of permanent joining of two or more vertebrae so that no movement takes place between them. Spinal fusion also helps in restoring stability and strength to spine which is essential for individuals in case of spinal degeneration, deformity, or trauma. Due to the growing geriatric population and growing cases of accidents, the number of individuals undergoing lumbar fusion surgery is increasing over the past several years.
Increasing adoption of minimally invasive surgery
Over the last few years, the shift from open surgical method to minimally invasive surgeries have been observed. According to NIH, more than 250,000 elective lumbar spine surgeries are performed annually in the US for persistent synonyms of sciatica. The surgical invasion of the body is minimized. In minimally invasive spine surgery, to treat back and neck pain caused due to various spinal disorders, advanced, innovative technology is implemented.
Specific instruments such as tubular refractors, image guidance systems, and endoscopes are used by surgeons to work through small incisions. Factors such as less injury to the tissue, less pain, and higher accuracy rate are leading to inclination toward minimally invasive surgery. These surgeries also provide additional benefit of being performed as an outpatient procedure.
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