The Spine Biologics Market is expected to register a CAGR of 4.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is Segmented by product (Bone Graft Substitutes, Spinal Allografts, Cell-based Matrix); and End User (Hospitals, ASCs). The global analysis is further broken down at regional level and major countries. The report offers the value in US$ for the above analysis and segments.
Purpose of the ReportThe report Spine Biologics Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Spine Biologics Market Segmentation
Product- Bone Graft Substitutes
- Spinal Allografts
- Cell-based Matrix
- Hospitals
- ASCs
Strategic Insights
Spine Biologics Market Growth Drivers- Increasing Patient Counts with Disorders of the Spine: The increasing demand in the spine biologics market can be attributed to the fast-emerging trend regarding the incidence of spine disorders. With this ever-aging population of the globe, mounting and growing incidences of degenerative spine problems such as osteoarthritis, herniated discs, or spinal stenosis are found and expected in the near-forthcoming period. More cases will thus increase the demand for advanced biologic treatments. In the area of spine biologics, which comprises stem cells, platelet-rich plasma, and growth factors, regenerative medicine is becoming popular to treat these disorders. These biologics improve tissue healing and allow patients to recover much faster, thereby significantly improving their outcomes. The increasing incidence of spine disorders leads to an increase in the size of the spine biologics market as healthcare providers look for lesser invasive, and effective treatment options. The preference of patients with biologic treatment due to reduced recovery time and fewer side effects is rapidly pushing up the market share for biologics in spine care. As more people, as well as doctors, become aware of the benefits of biologic treatments, this demand would further propel the spine biologics market, investing in research and development, while advanced biologic therapy would be introduced.
- Shift Toward Minimally Invasive Spine Surgeries: The major growth driver in the Spine Biologics Market is the shift toward minimally invasive spine surgeries. Conventional spine surgeries have long recovery time with large incisions and carry a significant risk of complications. Conversely, minimally invasive procedures, which call for very small incisions and utilization of cutting-edge imaging, are increasingly offered because they promise speedier recovery and a reduction of risks typically associated with the more traditional surgery. These minimally invasive techniques are complemented with other methods which use biologics such as stem cells, platelet-rich plasma, and growth factors, to enhance better tissue regeneration with faster healing. With projections on the increased rate of adoption of minimally invasive spine surgeries, biologics are going to creep into these procedures. This trend alone is pushing up the market size for spine biologics as healthcare providers are seeking innovative methods to improve outcomes from surgery. A significant influence on the market share of biological products intended to support such procedures is the growing preference for minimally invasive techniques. Patients and healthcare professionals alike are increasingly preferring treatments that are less riskier, with quicker recovery and better outcomes overall. Accordingly, the spine biologics market is witnessing growth as a spurt because of the move toward minimally invasive surgeries.
- Advancements in Biologic Technologies: Advances in biologic technologies are driving the growth of the Spine Biologics Market. Advances in the technologies of stem cell therapy, gene therapy, and tissue engineering are transforming the treatment available for spine disorders. More effective biologic treatments, like BMPs, are now developed that make spine surgeries more effective by promoting tissue regeneration and fewer complications. Combine this with the emerging approach of gene therapy, and still, the use of biologics in combination with other forms of therapy such as growth factors and scaffolding improves general treatment efficacy. This provides for more specific patient treatment, allowing healthcare providers to target the real causes of spine problems such as inflammation and tissue degeneration. As demand for biologic treatment is expected to jump in spinal surgeries, forecasters expect the size of the market to expand. Clinical evidence for the use of biologics in spine care is mounting, and the more that healthcare providers are pushed into routine practice, the larger the market share of spine biologics is likely to become. All these technological developments help reduce the invasiveness of surgeries, decrease the complications associated with the procedures, and also reduce the time taken to recover. Hence, biologics are deemed an extremely attractive treatment for both patients and physicians.
- Personalized Medicine in Spine Biologics: Personalized medicine is one of the emerging trends in the Spine Biologics Market. As research progresses in genetics and molecular biology, the focus to tailor biological treatments based on the individual patient's genetic makeup to the specific spinal condition continues to grow. More importantly, future prognoses will depict more prevalent personalizing of treatments concerning spine disorders by the use of therapies by providers who strive for optimized efficacies with fewer side effects. Therefore, a well-orientated and appropriate approach to the therapies for an individual patient may offer enhanced outcome possibilities after surgery. Advancements in genetic and biomarker studies will result in more specificity based on the use of advanced diagnostics like genetic tests and biomarkers. This, therefore, will facilitate further penetration for spine biologics as patient care needs biological treatment that has been individualized with a personal genetic and clinical profile and a request to be attended based on specific personal health conditions by clinicians. Personalized medicine will drive more market share for biologic products because it enhances patient satisfaction and outcomes, thus making biologics more appealing in spine care. Increasing personalized treatments in the spine biologics market will continue to transform the industry and open sizeable doors for growth.
- Stem Cell and Gene Therapy Innovations: Stem cell therapy and gene therapy represent two of the most exciting trends in the Spine Biologics Market. These base new avenues for the treatment of both degenerative conditions and spinal injuries. Further, the domain of stem cell-based therapies includes MSCs or mesenchymal stem cells and induced pluripotent stem cells, also abbreviated as iPSCs. Stem cell therapies are going to be used more and more in spine care because they enhance tissue regeneration and repair. Long-term relief from spinal conditions previously considered difficult to treat will soon be offered through these therapies. Gene therapy is also gaining importance in the spine biologics market, which is based on research to replace or repair faulty genes to restore normal spine function. Growth in the market is anticipated from the combined application of stem cell and gene therapies. Both technologies have shown promise in being more effective and durable in their treatments. Clinical trials continue to show that these therapies are safe and effective. Consequently, this will improve the market size by increasing the share of stem cell and gene therapy-based products in the spine biologics market. The introduction of these new treatments will alter the spine care market, and most importantly, improve and secure the future health of patients in the best ways possible.
- Expansion of Biologic Treatments for Spinal Fusion: The expansion of biologic treatments for spinal fusion is an important trend in the Spine Biologics Market. Biologic treatments for spinal fusion are growing in the market because of their demand. Traditionally, spinal fusions, or procedures to connect two or more vertebrae through a surgical method, have typically relied on mechanical implant screws and rods to fix the vertebrae together during the healing process. More commonly, however, biologics like BMPs and MSCs are being applied to enhance the healing of bones as well as to encourage fusion. The use of biologics in spinal fusions is going to increase very rapidly because they improve the chances of success with these procedures while reducing the requirement for hardware. Biologics are increasingly being used in making spinal fusion surgeries safe and effective by stimulating bone growth and reducing the risk of non-union. This trend is bound to enhance the market size of spine biologics as providers of healthcare take them up as treatments that improve outcomes of spinal fusion surgeries. Along with growing evidence in clinical settings favoring biologics for spinal fusion, the latter's adoption is also being assisted. This will help increase the market share of the products of biologics in the field of spine care. Therefore, with this ever-increasing demand for spinal fusion surgeries, the role that biologics would play in terms of improving outcomes would propel the spine biologics market forward in terms of growth.
- Non-surgical Spine Treatments: Increasing demand for the Spine Biologics Market is a prime growth opportunity as more patients today are opting for treatments with minimal invasiveness. Among these, patients prefer biological treatments such as stem cells, platelet-rich plasma (PRP), and growth factors. It offers alternative medical interventions for conventional surgery, stimulating natural healing while minimizing pain,and faster recovery time. In general, forecasts suggest that patients increasingly look for treatments that minimize their hospital stay and recovery periods, and biologics are well positioned in this regard as the next option for spine care. The emergence of minimally invasive options aligns with a global trend toward cost-effective healthcare solutions, and biologics provide an encouraging avenue to meet this demand. This would open doors for companies to innovate biologic products that help specifically in some disorders of the spine, for instance, degenerative disc problems and spinal injury. Moreover, due to biologics having less inflammation but with tissue regenerations and also being first-line treatment from health care professionals, the size of the biologics market in the field of spine care is supposed to grow quite highly. Increased adoption of non-surgical treatments is expected to drive the growth of the biologics market share, hence opening up massive growth opportunities for manufacturers and investors in the spine biologics sector.
- Collaboration with Research Institutions: An effective collaboration with spine biologics manufacturers and research institutions opens vast growth avenues for the Spine Biologics Market. There is an essential need for further research and development to expand the horizon of biologic treatment due to promising novel technologies such as stem cell therapies, gene therapy, and tissue engineering solutions to revolutionize the spine care environment. This should propel the development of innovative biologic products between research institutions, biotech companies, and universities into a higher speed. These combinations will accelerate new biologic treatments to the marketplace faster to serve the increasing demands for effective spine therapies. It also enables a more targeted development of biologic treatments for a specific spine disorder, such as intervertebral disc degeneration and spinal cord injuries, since it is an innovation-driven by research. This opens a window for firms to stay one step ahead of the competition as they harness scientific breakthroughs and enhance treatment outcomes. The more clinical trials and studies support the effectiveness of these new biological treatments, the higher will be the share of companies participating in such research. Furthermore, the market size will rise with increased development and introduction of new products and therapies into the market. It is through joint efforts that the future of spine biologics is being made. As such, there will continue to be huge opportunities for market players in the industry.
- Expanding Applications of Biologics in Spine Surgery: The expanding applications of biologics in spine surgery are one of the significant growth opportunities for the Spine Biologics Market. Increasing utilization of biologics within spinal fusion, disc regeneration, and treatment for spinal injuries continues to be well-forecasted. The surgery for the spine has transformed with new developments in combining BMPs, stem cells, and growth factors for surgery. These biologics not only help in the healing process but also reduce complications and contribute to quicker recovery and better surgical outcomes. This is going to grow the market size for spine surgeries; therefore, biologics are likely to be an integral part of spinal procedures, which are going to be more than just surgery. With specialization in biologics for spine surgery, there is a special opportunity to broaden the product range and reach out to a much larger patient base. The greater clinical evidence related to the efficiency of biologics in augmenting surgical success rates and revising the requirements for revision surgeries further fuels the market share of the biologic products. Traditional surgical techniques combined with biologic therapies will be key drivers for the growth of the spine biologics market. This trend is, therefore, an emerging opportunity for both existing and new entrants in the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Spine Biologics Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Spine Biologics Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities

Have a question?

Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities

Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
This text is related
to segments covered.

Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Spine Biologics Market is estimated to witness a CAGR of 4.2% from 2025 to 2031.
The major factors driving the spine biologics market are the increasing prevalence of spine disorders, advancements in biologic technologies, and the Shift toward minimally invasive spine surgeries.
Future trends in the spine biologics market include personalized medicine in spine biologics, stem cell, and gene therapy innovations, and the Expansion of biological treatments for spinal fusion.
Some of the players operating in the Spine Biologics Market are Stryker, Orthofix Medical Inc., NuVasive, Inc., NuTech Spine, Inc., Medical Devices Business Services, Inc., Wright Medical Group N.V., Exactech, Inc., Zimmer Biomet, Arthrex, Inc., and Medtronic.
The report can be delivered in PDF/PPT format; we can also share an excel datasheet based on the request.
Some customization options available based on the request are an additional 3–5 company profiles and a country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Spine Biologics Market - By Product
1.3.2 Spine Biologics Market - By End User
1.3.3 Spine Biologics Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SPINE BIOLOGICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. SPINE BIOLOGICS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SPINE BIOLOGICS MARKET - GLOBAL MARKET ANALYSIS
6.1. SPINE BIOLOGICS - GLOBAL MARKET OVERVIEW
6.2. SPINE BIOLOGICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SPINE BIOLOGICS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. BONE GRAFT SUBSTITUTES
7.3.1. Overview
7.3.2. Bone Graft Substitutes Market Forecast and Analysis
7.4. SPINAL ALLOGRAFTS
7.4.1. Overview
7.4.2. Spinal Allografts Market Forecast and Analysis
7.5. CELL-BASED MATRIX
7.5.1. Overview
7.5.2. Cell-based Matrix Market Forecast and Analysis
8. SPINE BIOLOGICS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. ASCS
8.4.1. Overview
8.4.2. ASCs Market Forecast and Analysis
9. SPINE BIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Spine Biologics Market Overview
9.1.2 North America Spine Biologics Market Forecasts and Analysis
9.1.3 North America Spine Biologics Market Forecasts and Analysis - By Product
9.1.4 North America Spine Biologics Market Forecasts and Analysis - By End User
9.1.5 North America Spine Biologics Market Forecasts and Analysis - By Countries
9.1.5.1 United States Spine Biologics Market
9.1.5.1.1 United States Spine Biologics Market by Product
9.1.5.1.2 United States Spine Biologics Market by End User
9.1.5.2 Canada Spine Biologics Market
9.1.5.2.1 Canada Spine Biologics Market by Product
9.1.5.2.2 Canada Spine Biologics Market by End User
9.1.5.3 Mexico Spine Biologics Market
9.1.5.3.1 Mexico Spine Biologics Market by Product
9.1.5.3.2 Mexico Spine Biologics Market by End User
9.2. EUROPE
9.2.1 Europe Spine Biologics Market Overview
9.2.2 Europe Spine Biologics Market Forecasts and Analysis
9.2.3 Europe Spine Biologics Market Forecasts and Analysis - By Product
9.2.4 Europe Spine Biologics Market Forecasts and Analysis - By End User
9.2.5 Europe Spine Biologics Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Spine Biologics Market
9.2.5.1.1 Germany Spine Biologics Market by Product
9.2.5.1.2 Germany Spine Biologics Market by End User
9.2.5.2 France Spine Biologics Market
9.2.5.2.1 France Spine Biologics Market by Product
9.2.5.2.2 France Spine Biologics Market by End User
9.2.5.3 Italy Spine Biologics Market
9.2.5.3.1 Italy Spine Biologics Market by Product
9.2.5.3.2 Italy Spine Biologics Market by End User
9.2.5.4 Spain Spine Biologics Market
9.2.5.4.1 Spain Spine Biologics Market by Product
9.2.5.4.2 Spain Spine Biologics Market by End User
9.2.5.5 United Kingdom Spine Biologics Market
9.2.5.5.1 United Kingdom Spine Biologics Market by Product
9.2.5.5.2 United Kingdom Spine Biologics Market by End User
9.2.5.6 Rest of Europe Spine Biologics Market
9.2.5.6.1 Rest of Europe Spine Biologics Market by Product
9.2.5.6.2 Rest of Europe Spine Biologics Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Spine Biologics Market Overview
9.3.2 Asia-Pacific Spine Biologics Market Forecasts and Analysis
9.3.3 Asia-Pacific Spine Biologics Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Spine Biologics Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Spine Biologics Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Spine Biologics Market
9.3.5.1.1 Australia Spine Biologics Market by Product
9.3.5.1.2 Australia Spine Biologics Market by End User
9.3.5.2 China Spine Biologics Market
9.3.5.2.1 China Spine Biologics Market by Product
9.3.5.2.2 China Spine Biologics Market by End User
9.3.5.3 India Spine Biologics Market
9.3.5.3.1 India Spine Biologics Market by Product
9.3.5.3.2 India Spine Biologics Market by End User
9.3.5.4 Japan Spine Biologics Market
9.3.5.4.1 Japan Spine Biologics Market by Product
9.3.5.4.2 Japan Spine Biologics Market by End User
9.3.5.5 South Korea Spine Biologics Market
9.3.5.5.1 South Korea Spine Biologics Market by Product
9.3.5.5.2 South Korea Spine Biologics Market by End User
9.3.5.6 Rest of Asia-Pacific Spine Biologics Market
9.3.5.6.1 Rest of Asia-Pacific Spine Biologics Market by Product
9.3.5.6.2 Rest of Asia-Pacific Spine Biologics Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Spine Biologics Market Overview
9.4.2 Middle East and Africa Spine Biologics Market Forecasts and Analysis
9.4.3 Middle East and Africa Spine Biologics Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Spine Biologics Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Spine Biologics Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Spine Biologics Market
9.4.5.1.1 South Africa Spine Biologics Market by Product
9.4.5.1.2 South Africa Spine Biologics Market by End User
9.4.5.2 Saudi Arabia Spine Biologics Market
9.4.5.2.1 Saudi Arabia Spine Biologics Market by Product
9.4.5.2.2 Saudi Arabia Spine Biologics Market by End User
9.4.5.3 U.A.E Spine Biologics Market
9.4.5.3.1 U.A.E Spine Biologics Market by Product
9.4.5.3.2 U.A.E Spine Biologics Market by End User
9.4.5.4 Rest of Middle East and Africa Spine Biologics Market
9.4.5.4.1 Rest of Middle East and Africa Spine Biologics Market by Product
9.4.5.4.2 Rest of Middle East and Africa Spine Biologics Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Spine Biologics Market Overview
9.5.2 South and Central America Spine Biologics Market Forecasts and Analysis
9.5.3 South and Central America Spine Biologics Market Forecasts and Analysis - By Product
9.5.4 South and Central America Spine Biologics Market Forecasts and Analysis - By End User
9.5.5 South and Central America Spine Biologics Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Spine Biologics Market
9.5.5.1.1 Brazil Spine Biologics Market by Product
9.5.5.1.2 Brazil Spine Biologics Market by End User
9.5.5.2 Argentina Spine Biologics Market
9.5.5.2.1 Argentina Spine Biologics Market by Product
9.5.5.2.2 Argentina Spine Biologics Market by End User
9.5.5.3 Rest of South and Central America Spine Biologics Market
9.5.5.3.1 Rest of South and Central America Spine Biologics Market by Product
9.5.5.3.2 Rest of South and Central America Spine Biologics Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SPINE BIOLOGICS MARKET, KEY COMPANY PROFILES
11.1. STRYKER
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ORTHOFIX MEDICAL INC
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. NUVASIVE, INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. NUTECH SPINE, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MEDICAL DEVICES BUSINESS SERVICES, INC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. WRIGHT MEDICAL GROUP N.V.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. EXACTECH, INC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ZIMMER BIOMET
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ARTHREX, INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. MEDTRONIC
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Stryker
2. Orthofix Medical Inc
3. NuVasive, Inc.
4. NuTech Spine, Inc.
5. Medical Devices Business Services, Inc
6. Wright Medical Group N.V.
7. Exactech, Inc
8. Zimmer Biomet
9. Arthrex, Inc.
10. Medtronic
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.