SPINE BIOLOGICS MARKET ANALYSIS

Market News

Recent product launches are expected to boost global spine biologics market growth. For instance, on January 9, 2020, Royal Biologics, a company, which produces orthobiologics and is dedicated in the research and advancement of regenerative cellular therapy & novel orthobiologic solutions, announced the launch of MAGNUS, a DMSO-free viable cellular bone allograft. Due to the use of DMSO-free cryoprotectant, MAGNUS offers a novel alternative to traditional viable cellular allograft technology.

Moreover, rising mergers, agreements, and acquisitions by market players are also expected to drive the global spine biologics market over the forecast period. For instance, on April 27, 2021, Bone Bank Allografts (BBA), a leading provider of regenerative medicine technologies, announced their multi-year supplier partnership agreement with Capstone Health Alliance, a regional group purchasing organization (GPO) with 300 hospitals representing 140 health systems across the U.S. The agreement covers BBA's entire orthobiologics portfolio, which includes surgical allograft options ranging from traditional bone and soft tissues to specialty custom products for transplant. These factors are expected to support global spine biologics market growth over the forecast period.

North America is expected to dominate the global spine biologics market, owing to the continuous registrations and approvals of spine biologics by the U.S. Food and Drug Administration (FDA). For instance, on February 25, 2020, EmCyte, one of the global leaders in platelet rich plasma and progenitor stem cell biologics, received FDA 510 (k) clearance for its PurePRP SupraPhysiologic Concentrating System for platelet rich plasma.