Biosurgery Market To Grow Rapidly In Healthcare Industry with a CAGR of 6.5%

Biosurgery market are the rising geriatric population, increase in the volume of surgeries and sports-related and trauma injuries, increasing clearance of biosurgery products by regulatory authorities and growing need for effective blood loss management in patients.

MarketsandMarkets forecasts the biosurgery market to grow from USD 11,365.0 million in 2018 to USD 15,581.7 million by 2023, at a Compound Annual Growth Rate (CAGR) of 6.5%.

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The biosurgery market, by product, is segmented into bone-graft substitutes, soft-tissue attachments, surgical sealants and adhesives, hemostatic agents, adhesion barriers, and staple-line reinforcement agents. Among the products segment, the surgical sealants and adhesives segment is expected to grow at the highest CAGR during the forecast period. The total number of surgeries being performed annually is increasing owing to the growing geriatric population, rising prevalence of lifestyle diseases (such as cardiovascular and orthopedic diseases), and growing number of people suffering from lower back pain and sports-related injuries, thereby attributing to high growth of this segment.

  • In 2017, the bone-graft substitutes market segment accounted for the largest share of the biosurgery market, owing to their popularity in fractures and spine and foot reconstruction surgeries, rising incidences of sports-related injuries and lower back disorders, and growing geriatric population.
  • The soft-tissue attachments segment is then further subsegmented into, synthetic meshes, and biological meshes. The growth in biological meshes market can majorly be attributed to the biocompatibility of biological meshes and their increasing application in soft-tissue repair for various indications.
  • The hemostatic agents market is characterized by the presence of several players. A majority of players in this segment are continuously focusing on improving their market share and presence through new product launches, acquisitions, and expansions.

North America is expected to hold the largest market size in the biosurgery market during the forecast period. The highest market share of North America is due to the presence of a well-developed healthcare system, increasing volume of surgical procedures performed, large number of hospitals, and presence of leading market players in the region. The Asia Pacific market is expected to witness the highest growth rate during the forecast period. The high growth in this market is attributed to the increasing prevalence of chronic diseases, increasing per capita income leading to improving standard of living, increasing healthcare spending, growing demand for better quality medical care, and rising awareness about biosurgery products in the region.

The penetration of biosurgery products is very low 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. For instance, cardiovascular diseases are currently the leading cause of mortality in India. According to the Global Burden of Disease Study, 2016 (by the WHO), the estimated age-standardized CVD death rate is 272 per 100,000 population in India, which is higher than the global average of 235 per 100,000 population.

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The development of new biosurgery products requires significant investments, and new products generally take more than 7–8 years for gaining marketing approval. For instance, in the US, the FDA has made it mandatory for biosurgery product manufacturers to obtain Premarket Approval (PMA) for their products before they are introduced in the market. For this, the product has to demonstrate proper clinical trials data, which has to be submitted along with the application for PMA. The cost and time required for a product to enter the clinical trial step and then clear the clinical trials are very high, with minimum chances of the product gaining approval. Also, the possibility of obtaining clinically significant data showing clinical trial clearance has been low for biosurgery products such as adhesion barriers, semi-synthetic sealants, and hemostatic agents. Hence, despite huge investments in R&D, the risk of failure is very high in the case of biosurgery products. This is a major factor limiting the development of novel biosurgery products in the market.

Global Biosurgery Market, By Application

  • Gynecological Surgeries
  • General/Abdominal Surgeries
  • Orthopedic Surgeries
  • Cardiovascular Surgeries
  • Neurological Surgeries
  • Urological Surgeries
  • Reconstructive Surgeries
  • Thoracic Surgeries
  • Other Surgeries**
  • **Other surgeries include ear, nose, throat, and burn surgeries

Key Market Players

Baxter International (US), Johnson & Johnson (J&J) (US), Medtronic plc (Ireland), Sanofi (France), C.R. Bard (US), Integra LifeSciences (US), and Maquet holdings (Sweden), lead the global biosurgery market.

Some of the other leading players in this market include Cohera Medical (US), Hemostasis LLC. (US), Stryker Corporation (US), B.Braun Melsungen AG (Germany), CSL Limited (Australia), Pfizer Inc. (US), and Cryolife Inc. (US).

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