As per the research report, the Middle East and Africa Spine Biologics Market Size is valued at USD 146.30 million in 2023 and is expected to grow at a CAGR of 4.5%, reaching 182.32 million by 2028 during the forecast period 2023 to 2028.
Another key factor is that there was a massive demand for spine biologics during the pandemic, which may fuel market expansion. The National Research Council and Biologics, for example, partnered on vaccine clinical development in UAE.
Another essential factor to consider is that the market is primarily driven by increasing capital investment from key market participants, an increase in the burden of chronic diseases, the loss of patent protection for top biologic medications, and rising demand and acceptance for novel therapies.
According to the World Health Organization, chronic diseases kill more than 41 million people in MEA annually. The most common chronic disease is cardiovascular disease, which kills 5 million people per year, followed by cancer (6 million), respiratory disorders (1.9 million), and diabetes (1.6 million).
The Spine biologics market will eventually profit from factors such as the need to develop MEA healthcare and the efforts of government agencies and international organizations to encourage and accelerate growth. These government and private sector efforts to promote healthcare will significantly boost the market in the future.
The healthcare system is urgently rearranging cancer services to guarantee that patients continue to receive necessary care while avoiding SARS-CoV-2 infection. This has had a little negative impact, but the situation is expected to normalize after the epidemic.
However, several prescription medications have adverse effects, and the cost of treatment is substantial, making it unaffordable for the less fortunate in rural places.
This research report on the MEA Spine Biologics Market has been segmented and sub-segmented into the following categories.
By Product Type:
By Surgery Type:
Geographically, the Middle East and Africa spine biologics market hold a moderate share globally, and the trend is expected to continue.
The UAE spine biologics market is expected to reach a decent CAGR due to the increased prevalence of chronic diseases, well-established pharmaceutical corporations, and growth in the number of biotech companies are the key factors influencing the market. In addition, market participants are also spending on research and development operations to produce novel biologic therapies for cancer treatment.
Regionally the most recent market trends are investigated, offering vital information on the present market scenario. The critical factor is an increased investment, which has contributed to the market's overall expansion. For example, Novartis AG committed around USD 300 million to a biologics facility in the UAE and a large-scale biologics plant in Ireland, which were scheduled to be finished by 2022.
The Saudi Arabia Spine Biologics Market in this area is predicted to be fueled by well-established infrastructure, sustained economic growth, and rising healthcare spending.
KEY MARKET PLAYERS
The leading companies dominating the MEA Spine Biologics Market profiled in the report are Globus Medical, Inc., Medtronic plc, Orthofix International N.V., RTI Surgical, Inc., SeaSpine, Zimmer Biomet Holdings, Inc, NuVasive, Inc., Alphatec Holdings, Inc., Depuy Synthes (Johnson & Johnson), Exactech, Inc.,
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