Growing biologics portfolios will play a key role in pushing the spine surgery device market in the coming years, according to a report from Coherent Market Insights.
Companies expanding their biologics portfolios represent a $5 billion market opportunity by 2026, according to a Sept. 9 news release. In recent months companies including Vericel, LifeNet Health and SurGenTec made advances with their spine and orthopedic biologic portfolios, earning FDA nods.
Major players mentioned in the report include Arthrex, Alphatec and Zimmer Biomet.
The spine device market is also expected to grow due to factors such as rising investments in 3D printed technology, demand for motion preserving devices and adoption of minimally invasive procedures, according to the report.