The global spinal biologics market is projected to grow at a 3.6 percent compound annual growth rate to reach $2.55 billion by 2024, according to a Market Study Report.
Three things to know about the global spinal biologics market:
1. North America is the largest supplier of spinal biologics, with a production market share of nearly 63 percent.
2. Europe is the second-largest spinal biologics supplier, with a production market share of nearly 28 percent.
2. Market competition is not intense, according to the report. Medtronic, DePuy Synthes, Stryker, NuVasive and Zimmer Biomet are the key market players; in 2015, Medtronic had a 40 percent market share.