Biosurgery Market: Current Analysis and Forecast (2021-2027)
In various surgeries, biosurgery products are utilized to reduce intra- and post-operative problems. The inefficient use of standard wound closure materials, such as sutures and staples, is one of the leading causes of blood loss in surgical and trauma patients. The rising frequency of accidents around the world has resulted in an increase in the number of procedures requiring extensive operating hours. As a result, the demand for appropriate blood loss management products during surgical procedures has skyrocketed. As per an article published by National Library of Medicine, in 2019, uncontrolled hemorrhage is the leading cause of preventable death that occurs due to injury. Similarly, as per National Trauma Institute, after a traumatic injury, hemorrhage is responsible for over 35% of pre-hospital deaths and over 40% of deaths within the first 24 hours of the injury. The number of surgeries that involve long operating times is increasing. In such a scenario, there is a growing demand for effective blood loss management products.
Furthermore, advancements in surgeries and novel product launch to help surgeons perform surgeries efficiently are expected to further fuel the market.
Based on product, the global Biosurgery market is bifurcated into surgical sealants, hemostatic agents, adhesion barriers, soft tissue attachments, and bone graft attachments. Currently, bone graft attachments testing segment dominated the market and is expected to maintain its dominance during the forecast period. The largest share of the segment is 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.
Based on application the market is divided into general Surgery, orthopedic surgery, cardiovascular surgery, neurological surgery, and others (reconstructive, urology, and gynecology surgeries). Orthopedic surgery dominated the market in 2020 owing to prevalence of bone diseases, and cases of road accidents. However, cardiovascular surgery is expected to grow at a fast pace during the forecast period owing to the prevalence of diabetes and heart disease.
Based on end-user the market is bifurcated into hospitals, clinics, and others. Currently hospitals segment dominates the market and is expected to maintain its dominance during the analyzed period owing to the rising number of hospitals and infrastructural & economic development, especially in emerging countries.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Netherlands, Spain, United Kingdom, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of APAC), and Rest of World. North America constitutes a major market for Biosurgery owing to the advanced technology for diagnosis and treatment of chronic disorders, availability of private and government funding, etc.
Some of the major players operating in the market include Johnson & Johnson (Ethicon), Medtronic Plc, Strykers, Baxter International Inc., C.R. Bard, Sanofi, Pfizer, B. Braun Melsungen AG, Integra Lifesciences Corporation, and Zimmer Biomet.
Global Biosurgery Market was valued at USD XX billion in 2020 and is projected to expand significantly with a CAGR of XX% from 2021-2027F. The Global Biosurgery Market is expected to witness a boost on account of the increasing prevalence chronics disease and increasing road accidents.