Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Biosurgery market.
Trusted Business Insights presents an updated and Latest Study on Biosurgery Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Biosurgery market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Biosurgery Market
The global biosurgery market size was valued at USD 11.4 billion in 2018 and is anticipated to expand at a CAGR of 7.1% during the forecast period. Factors such as the availability of multifunctional products that accelerate healing and help reduce post-surgical recovery duration are expected to fuel the growth. Biosurgery products are used in surgical procedures for adhesion or wound sealing and healing damaged bones and tissues. Rise in surgical procedures is expected to positively influence the product demand.
Biosurgery is also known as maggot therapy or larva therapy. These maggots or larvae are used to heal chronically infected wounds, which are resistant to antibiotics. Biosurgery with maggot debridement therapy has also proven effective for diabetic patients. High prevalence of diabetes and spinal injuries is anticipated to propel the demand for biosurgery in the forthcoming years. In addition, biosurgery is also beneficial orthopedic, neurological, and gynecology surgeries, fueling the product demand.
Rising demand for minimally invasive surgery coupled with continual rise in aging population with chronic conditions is expected to drive the biosurgery market. Products used for biosurgery reduce the risk associated with tissue contamination, which in turn is expected to drive their demand. Furthermore, effective measures for blood loss during surgeries are expected to propel the adoption of these procedures during the forecast period.
Factors such as advancements in surgeries and novel product launches to help surgeons perform surgeries efficiently, are expected to further fuel the market. According to the National Health Statistics report, during 28.6 million ambulatory surgery visits to ambulatory surgical centers and hospitals in U.S., approximately 48.3 million surgical and nonsurgical procedures were performed in 2010. Rising incidence of chronic disorders and acute diseases among geriatric population coupled with increasing demand for improved surgical care for patients of all ages is further augmenting the growth. Moreover, innovations in marketing strategies of medical devices and growing medical tourism in developing countries are creating opportunities for manufacturers to expand their customer base in emerging economies.
Product Insights of Biosurgery Market
Surgical sealants segment is expected to dominate the market for biosurgery over the forecast period due to rising incidence of sports related injuries and lower back pain. Moreover, high prevalence of lifestyle diseases coupled with rise in number of surgeries performed annually is anticipated to propel the market growth in the forthcoming years.
Soft tissue attachment segment is expected to register the fastest CAGR over the forecast period, attributed to rising application in various surgical procedures. Soft tissue healing is a significant measure in determining the outcome of various osseous surgery. Different methods such as pedicle grafting and free grafting both split thickness and full are used to execute primary soft tissue closure.
General surgery accounted for the largest market size of 3.8 billion in 2018 and is expected to register a CAGR of 8.6% over the forecast period. The growth is primarily attributed to the technological advancements and rising adoption of advanced surgeries in developing economies. Orthopedic surgery segment account for the second largest market share in 2018, attributed to prevalence of bone diseases, rising geriatric population, and cases of road accidents. Moreover, increasing use of biosurgery products in orthopedic surgery, improving diagnostic methods, and introduction of new products launch are the factors expected to propel the segment over the forecast period.
Cardiology surgery segment is expected to register the fastest CAGR during the forecast period. According to the American Heart Association Research, cardiovascular disease accounts for more than 840,678 deaths in U.S. in 2016. Increasing prevalence of heart disease and diabetes, growing healthcare investment, and technological advancements are some of the factors driving the growth of the segment.
Regional Insights of Biosurgery Market
North America is expected to continue holding the leading biosurgery market share over the forecast period, owing to its well-established healthcare sector. Increasing prevalence of obesity and cardiovascular diseases is also expected to drive the regional growth. Rising adoption of advanced surgical tools and devices is expected to create growth opportunities for the regional market in near future.
Europe is expected to capture the second largest market share over the forecast period, due to increase in geriatric population, which is prone to various illnesses. Moreover, improvements in healthcare sector and implementation of advanced medical products are augmenting the regional demand for biosurgery.
Asia Pacific (APAC) is projected to be a lucrative region for biosurgery with the fastest CAGR over the forecast period. Improvements in healthcare facilities and reimbursement policies in developing economies are expected to aid the regional growth. Japan spearheaded the APAC region in 2018 owing to its large geriatric population and rapid economic growth. Furthermore, increase in awareness regarding advance surgical procedures is expected to boost the demand during the forecast period.
Market Share Insights of Biosurgery Market
Some prominent market players are Johnson & Johnson (Ethicon); Medtronic Plc; Strykers; Baxter International Inc.; C.R. Bard; Sanofi; Pfizer; B. Braun Melsungen AG; and Integra lifeSciences Corporation. Most prominent players focus on new product launches, acquisitions, advancement in existing products and technologies, and other such strategies to expand their product portfolio and strengthen their market presence. For instance, in September 2018, Baxter international Inc., a global medical product company announced an agreement to acquire two sealant and hemostat products from Mallinckrodt plc. This agreement will enhance market share and product portfolio of the former.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Biosurgery Market Research Report
This report forecasts revenue growth at global, regional, and country levels as well as provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global biosurgery market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Soft Tissue Attachments
Bone Graft Attachments
Application Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Biosurgery Market Size, Growth, Global Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580