The global biosurgery market size has the potential to grow by USD 4.81 billion during 2020-2024. The market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (Asia, Europe, North America, and ROW) and product (soft-tissue attachments, hemostatic agents, bone graft substitutes, surgical sealants, and adhesives, and adhesion barriers). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including B. Braun Melsungen AG, Baxter International Inc., Becton, Dickinson and Co., CSL Ltd., Getinge AB, Integra LifeSciences Holdings Corp., Johnson & Johnson, Medtronic Plc, Pfizer Inc., and Stryker Corp.
Market Competitive Analysis
The biosurgery market is currently fragmented. However, the degree of fragmentation will decrease over the forecast period. Vendors are opting for various growth strategies such as new product launches to sustain in a competitive market. Johnson & Johnson, Medtronic Plc, Pfizer Inc., and Stryker Corp. are a few of the significant market participants.
Although the accelerating market growth momentum will offer immense business opportunities to vendors, the availability of substitutes will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this biosurgery market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. This biosurgery market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading biosurgery companies, including:
B. Braun Melsungen AG
Baxter International Inc.
Becton, Dickinson and Co.
Integra LifeSciences Holdings Corp.
Johnson & Johnson
Biosurgery Market: Segmentation by Region
North America accounted for the largest market share in 2019. The increasing number of surgical procedures, growing adoption of advanced technologies, rising healthcare expenditure, and new product launches are contributing to the biosurgery market growth in North America.
Over 40% of the overall market’s growth will originate from North America during the forecast period. The US is the critical market for biosurgery in the region. The market growth rate in this region will be slower than that of Asia and Europe over the forecast period.
Biosurgery Market: Segmentation by Product
Soft-tissue attachments are majorly used to replace damaged joint surfaces in orthopedic endoprostheses. Synthetic and biological meshes are used as soft-tissue attachments. The increased biocompatibility, reduced chances of infections, and the biodegradable nature of biological meshes is driving their demand in the global biosurgery market. As a result, the biosurgery market growth by the soft-tissue attachments segment will be significant over the forecast period.
The growth rate of the soft-tissue attachments segment is expected to be slower compared with the hemostatic agents segment over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the biosurgery market size.
Biosurgery Market: Key Drivers and Trends
The rising prevalence of various chronic and lifestyle conditions such as cancer, cardiovascular diseases, bone conditions, and others has increased the number of surgical procedures, which have augmented the use of biosurgery products. Procedures such as coronary angioplasty or stent replacement, coronary artery bypass graft (CABG), repair or replacement of heart valves, joint replacement, and orthopedic surgeries, which involve blood loss and tissue damage, require biosurgery products. The procedures mentioned include the use of hemostatic agents, surgical sealants, adhesion barriers, and bone graft substitutes to prevent blood loss and repair damaged tissues or bones. Therefore, the growing number of orthopedic and cardiovascular surgeries will primarily contribute to the biosurgery market growth over the forecast period.
Healthcare professionals are primarily focusing on effective hemostasis and incision closure.
Advanced biosurgery product offerings can provide effective treatment wherein pressure, ligature, and other conventional methods are ineffective.
Johnson & Johnson has introduced a next-generation product, VISTASEAL Fibrin Sealant, which is an airless, spray device. The product combines biologics with device technology to address mild to moderate surgical bleeding.
Vendors are focusing on the development of advanced biosurgery products to help surgeons with advanced solutions to repair fractures and damaged tissues, which is one of the important biosurgery market trends.
The biosurgery market will grow at a CAGR of almost 6% during 2020-2024.
Biosurgery Market: Key Highlights of the Report for the Forecast Period 2020-2024
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will accelerate the growth of the biosurgery market during the next five years
Precise estimation of the global biosurgery market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the biosurgery industry in Asia, Europe, North America, and ROW
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of biosurgery companies