As per the research report, the size of the Asia Pacific Spine Biologics Market is valued at USD 472.05 million in 2023 and estimated to be growing at a CAGR of 4.9%, to reach USD 599.61 million by 2028 during the forecast period 2023 to 2028.
The Asia Pacific spine biologics market is primarily growing due to an increase in the number of occurrences of spine-related health conditions.
Spinal problems are affecting an increasing number of people across the continent. The Asia Pacific spine biologics market is expected to increase significantly as the population over 60 years old becomes more prone to spine issues and undergoes fusion procedures as a treatment. According to a study published in the Annals of Rheumatic Diseases, one out of ten adults suffers from lower back pain (LBP). According to research published by the World Health Organization (WHO) in 2013, between 250,000 and 300,000 people worldwide suffer from spinal cord injuries, with most of the injuries occurring due to traffic accidents, violence, and other falls.
Furthermore, the increased prevalence of obesity is a crucial driver of market growth. According to WHO projections, 1.9 billion persons were overweight in 2019, with 650 million obese. Growing healthcare spending and technological advancements are propelling the industry forward. In addition, the rising number of minimally invasive spine procedures is predicted to boost the Asia Pacific spine biologics market's growth rate. These factors are expected to drive this market forward during the forecast period.
The Asia Pacific spine biologics industry is being held back by high costs associated with spinal surgery and unfavorable reimbursement rules from various governments.
The government's strict laws & regulations in authorizing new products and their debut in people's safety are challenges for key stakeholders. In addition, to a small extent, a lack of thorough awareness about spine biologics and treatment processes obstructs market expansion.
During the projection period, the Asia Pacific Spine Biologics market would be restrained by a lack of proper healthcare infrastructure in some developing nations. Therefore, these factors are predicted to hinder the Asia Pacific Spine Biologics market during the forecast period.
Spinal disorders impact a growing number of people due to developments in spine surgery technologies. As a result, the Asia-Pacific market for spinal biologics is quickly growing. The sector is also benefiting from the desire for minimally invasive surgical techniques.
This research report on the APAC Spine Biologics Market has been segmented and sub-segmented into the following categories.
By Product Type:
By Surgery Type:
Geographically, Asia Pacific Spine Biologics Market growth will be moderate, and the region will grow dramatically over the period. This is because the general, people are becoming more environmentally conscious. This is expected to increase faster in the countries where the population is growing. In addition, medical technology is also rapidly evolving in these areas.
The Indian Spine Biologics Market is expected to be the market leader in the APAC region due to the growing senior population, the rising occurrence of spine abnormalities, and technological breakthroughs in bone grafting techniques contributing to the market growth.
Furthermore, increased occurrences of degenerative spine disorders, a significant increase in treatment rates, and growing demand for minimally invasive procedures drive market expansion.
The China Spine Biologics Market is predicted to hold a significant share of the APAC region, following India because of the advancements in biomaterials and minimally invasive procedure method linked with lateral body fusion are an excellent approach for the treatment of spine diseases because this technique is safe, effective, quick to recover from, and causes less injury. In addition, it also boosts demand for spine biologics in the treatment of disc degeneration, sclerosis, and other spine-related conditions.
KEY MARKET PLAYERS
Top companies dominating the APAC Spine Biologics Market profiled in the report are Depuy Synthes (Johnson & Johnson), Alphatec Holdings, Inc., Orthofix International N.V., RTI Surgical, Inc., SeaSpine, and Zimmer Biomet Holdings, Inc, Exactech, Inc., Globus Medical, Inc., Medtronic plc, NuVasive, Inc.,
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