Key Factors Driving Biosurgery Market Growth:
Rising focus towards effective
blood loss management and growth in the volume of elective surgeries are
driving the demand for biosurgery products. Increasing prevalence of lifestyle
disorders and chronic diseases and rising geriatric population can be
attributed to contribute towards an increase in elective surgical procedures
globally. Moreover, increasing incidence of severe traumatic injuries is also
driving the demand of biosurgery products as a substitute to alternative suture
and ligature-based procedures. Vendors are using organic growth strategies such
as product launches and innovations, which has resulted into an increasing
availability of advanced products in bio surgery market globally.
Biosurgery Market Revenue Growth Analysis:
[392 Pages Report] The biosurgery market is projected to reach USD 16.0 billion
by 2026 from USD 12.2 billion in 2021, at a CAGR of 5.7%.
This report aims to provide detailed insights into the global biosurgery
market. It provides valuable information on the
type, procedure, application, and region in the bio surgery market.
Furthermore, the information for these segments, by region, is also presented
in this report. Leading players in the market are profiled to study their
product offerings and understand the strategies undertaken by them to be
competitive in this market.
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Opportunity
in Bio Surgery Market:
Growing Adoption of Advanced Biosurgery Products
The penetration of biosurgery
products is increasing across emerging countries, specifically based in the
Asia Pacific, Latin America, and the Middle East and Africa. In the coming
years, countries such as China, India, and Brazil are expected to offer
significant growth opportunities for players operating in the biosurgery
market. This is because the markets in these countries are characterized by a
large patient base for target indications (such as cardiovascular, orthopedic,
general/abdominal, and gynecological disorders), rising health awareness,
growing healthcare expenditure, rising medical tourism, and rapidly developing
healthcare infrastructure.
Over the last few decades, countries such as India and Malaysia have emerged as
hubs for medical tourism. This is because the cost of medical procedures across
these emerging countries is significantly less in comparison to developed
countries such as the US, Germany, France, and the UK. Moreover, government
agencies in several Asia Pacific and Middle East countries are undertaking
initiatives to support their respective healthcare systems, which is providing
lucrative growth opportunities to the biosurgery product manufacturers across
emerging countries.
The Bone Graft Substitutes to Dominate The Bio Surgery Market:
Based on the product, the bone
graft substitute segment accounted for the largest share of the global
biosurgery market in 2020. The large share of this segment can be attributed to
the increasing use of bone graft substitute products in orthopedic and dental
surgeries and significant benefits offered by bone graft substitute products
over conventional autograft products. The bone graft substitutes reduces the
need to harvest healthy bones from patients to facilitate bone fusion in
diseased or surgical bones. In comparison to autografts, the materials used for
bone-graft substitutes can be sourced in sufficient quantity in the form of
pellets, paste, strips, gels, putty, or blocks.
North America dominated
the bio surgery market in 2020
In 2020, North America accounted
for the largest share of the biosurgery market, followed by Europe, Asia
Pacific, Latin America, and Middle East & Africa. The large share of this
market segment can be characterized by favorable reimbursement policies for biosurgery
products, presence of a highly developed healthcare system, the significant
number of prominent vendors, the increasing number of healthcare settings, the
rising prevalence of traumatic injuries and lifestyle disorders.
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Key Players in Biosurgery
Market:
The prominent players in bio surgery market are Johnson & Johnson (US),
Baxter International Inc. (US), Medtronic Plc (Ireland), Becton, Dickinson
& Co. (US), B. Braun Melsungen AG (Germany), Stryker Corp. (US), Integra
Lifesciences Holdings Corp. (US), CSL Ltd. (Australia), Hemostasis LLC.
(US), Pfizer Inc. (US), Cyrolife Inc. (US), Zimmer Biomet (US), Kuros
Biosciences AG (Switzerland), Orthofix Medical Inc. (US), and Smiths &
Nephew Plc. (UK).