According to a new research study by Global Insight Services (GIS), the biosurgery market is expected to grow rapidly over the next 10 years to reach a value of more than the US $12.4 billion by 2031.
Biosurgery is a medical procedure that comprises the use of natural, synthetic, or semi-synthetic materials to seal surgical incisions and wounds. It is majorly used for preventing excessive blood loss, providing adhesion for wound and tissue sealing, and repairing damaged tissue and bones. Biosurgeries are usually conducted through the various haemostatic sealants, soft tissue repair, bone graft substitutes, adhesion prevention, and staple line reinforcement products. They also utilize natural allografts, cultured epithelial autografts, cultured epithelial autografts, and xenografts for minimizing intra and post-operative complications and promoting faster recovery of the patients.
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Global Biosurgery Market: Key Drivers
The major factors boosting the growth of the biosurgery market is the increasing volume of surgeries and the growing prevalence of severe trauma injuries. Adhesion formation is a major post-surgical complication, which results in healthcare complications and generally requires repeat surgeries for the treatment of affected patients. Post-surgical adhesion formation leads to different complications in different surgeries, like severe abdominal pain in the case of abdominal surgeries, infertility in women after gynaecological surgeries, and physical impairment of patients after neurological surgeries. Considering the severe effects of post-surgery adhesion formation in patients, the importance of products such as adhesion barriers is increasing in the market. Also, considering the growth in the number of surgeries performed globally, the importance of these products will be more prominent in the forthcoming years.
Likewise, the growing adoption of advanced biosurgery products in emerging markets is also boosting the growth of the biosurgery market. 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 (like cardiovascular, orthopedic, general/abdominal, and gynaecological disorders), rising health awareness, growing healthcare expenditure, rising medical tourism, coupled with 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 segment is likely to dominate the market during the forecast period
The key factors such as the increasing use of bone-graft substitutes across different types of orthopedic surgeries as they reduced surgical time are propelling the market growth of the segment. The bone substitutes can be broadly categorized into bone grafts (autografts, allografts, xenografts), ceramics and growth factors. The ideal bone substitutes should be biocompatible and not evoke any adverse inflammatory response.
The reconstructive surgery segment is anticipated to dominate the market during the forecast period
The key factors such as the increasing number of facial cosmetic surgeries combined with increasing cases of skin injuries, growing incidences of burn injuries, and an increasing number of breast cancer patients undergoing mastectomy and breast reconstruction procedures are the major factors driving the growth of this segment.
The hospital segment is likely to dominate the market during the forecast period
The key factors attributing to the growth of the market are the increasing number of surgeries taking place across the globe coupled with the rising geriatric population and the incidence of various diseases. Additionally, the increasing need to control blood loss and achieve efficient homeostasis and wound closure in trauma cases, injuries, or surgical procedures is leading to the increasing adoption of biosurgery products by surgeons.
The global biosurgery market report includes players such as 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), Smiths & Nephew Plc. (UK), Tissue Regenix Group Plc (UK), Betatech Medical (Turkey), Meril Lifesciences Pvt. Ltd. (India), RTI Surgicals (US), Samyang Holdings Corp. (South Korea), Aroa Biosurgery Ltd. (New Zealand), Meyer-Haake GmbH (Germany), Biom’Up (France), BioCer Entwicklungs-GmbH (Germany), and Hannox International Corp. (Taiwan) among others.