To reduce intra- and post-operative problems, biosurgery products are utilized in a variety of surgical procedures. Various synthetic and biologic goods are used in surgeries to stop excessive blood loss, promote adhesion or wound/tissue healing, and repair damaged or weakened tissues or bones of the body. These items include anti-adhesive agents, hemostatic agents, surgical sealing agents, and bone graft alternatives.
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The market for biosurgery in 2021 was worth USD 15.93 billion, and by 2030 it will be worth USD 26.25 billion, expanding at a 5.7% CAGR during the forecast period.
The global biosurgery market is expanding as a result of an increase in the use of biosurgery in the treatment of spinal injuries and wounds, particularly in diabetic patients. Additionally, bio-surgeries are used to clean wounds and stop blood flow from damaged vessels, two important applications that will boost the expansion of the global bio-surgery market.
Market Dynamics
Drivers
With the rising incidence of cardiovascular disorders, the demand for biosurgery will also rise, significantly boosting the market growth rate. For example, according to the most recent British Heart Foundation data published in 2021, in Asia in 2019, 32,376,834 people were affected by cardiovascular diseases, 12,543,833 people were diagnosed with coronary artery disease, and 8,111,044 people were detected with stroke. Thus, biosurgery products are utilized during cardiovascular surgery because they are safe and effective at preventing bleeding and initiating wound healing after surgery. As a result, the rising prevalence of cardiovascular illnesses may increase demand for biosurgery, propelling the entire biosurgery market forward over the forecast period.
The rising need for plastic surgery is also a major element driving the expansion of the biosurgery industry. For instance, the most recent figures on plastic surgery from the year 2020 show that out of 15.6 million aesthetic operations performed in America, 2.3 million of those were cosmetic surgical procedures, and 13.2 million were minimally invasive.
Restraints
The market for biosurgery commands high prices since existing competitors are engage in intense competition. The majority of the things in this market are very expensive. Many target patient populations need help to afford these products due to their high cost and the negative reimbursement environment in emerging nations. In emerging nations, traditional surgical techniques, including sutures and ligature base treatments, are preferred during operations due to the high expense of biosurgery products.
Opportunity
Given the rising expenses of healthcare in affluent nations like France, Germany, the United States, and the United Kingdom, growth in medical tourism may present substantial potential for emerging nations like India, China, and Malaysia. The distance from Mexico to the United States has made it a popular destination for medical tourists, and 40,000 to 80,000 elderly adults from the United States spend their retirement there, with the majority getting nursing homes and healthcare facilities.
Market Segmentation
By product
The bone graft substitutes sector led the overall market in 2020. The segment is expanding due to key factors like the increase in the usage of bone graft substitute goods in orthopedic and dental operations and the satisfaction they provide over traditional autograft products. According to the article “Impact of the COVID-19 Outbreak on Orthopedic Surgery,” in 2021, 99,333 orthopedic surgical operations, or 7.47 percent of the 1,330,477 hospital discharges record in 2020, were perform.
By Surgery
On the basis of surgery, the market is segment into neurological, orthopedic, cardiovascular, gynecological, cardiovascular, reconstructive, general, thoracic, and urological.
In 2020, the general surgery segment was the biggest market, with a 8.6% CAGR during the forecast period. The market is expanding due to increasing technological development and the increasing implementation of technologically sophisticated surgeries in developing nations. As per data from the national surgical needs in India 2020, nearly 950 surgeries are perform yearly, constituting 335 surgeries in females and 614 surgeries in males.
By End-User
On the basis of end-user, the market is segment into clinics, hospitals, ambulatory surgical centers, and others.
The hospital segment led the entire market with a significant revenue share. Primary factors responsible for the largest share of this market are the increasing rate of hospitals, well-established infrastructure, mainly in developing nations, and the rising number of surgical procedures in hospitals.
Regional Analysis
In 2021, North America was the largest market contributor, with a revenue share of nearly 32%. The largest market share of this region is due to the region’s favorable reimbursement policies for biosurgery products, a growing number of healthcare facilities, a highly developed healthcare system, a growing number of vendors, a rising prevalence of traumatic injuries, lifestyle disorders, and a growing elderly population.
Asia-Pacific region is the fastest-growing regional market and will expand at a 10.2% CAGR due to an aging population and an increase in sports-related injuries.
Key Players
- Ecm Biosurgery
- Kuros Biosciences AG
- Genzyme biosurgery
- Smiths & Nephew Plc.
- Zimmer Biomet
- Orthopfic Medical Inc.
- CSL Ltd.
- Stryker Corp.
- Hemostasis LLC
- Pfizer Inc.
- Cyrolife Inc.
- Integra Lifesciences Holdings Corp.
- Medtronic Plc
- Johnson & Johnson
- Medtronic Plc
- Braun Melsungen AG
- Becton, Dickinson & Co.
- Baxter International Inc.
The market for biosurgery in 2021 was worth USD 15.93 billion, and by 2030 it will be worth USD 26.25 billion, expanding at a 5.7% CAGR during the forecast period. The growth of the biosurgery market is drive by factors like the accessibility of multifunctional items that hasten to heal and shorten post-surgical recovery time.
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