Biosurgery Market: Snapshot
Biosurgery, comprising of different technologies and surgical techniques meant to reduce intra- and post-operative complications by facilitating hemostasis and tissue sealing, also finds application in hard tissue regeneration in orthobiologics.
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Biosurgery products contain primarily semi-synthetic, synthetic, or natural materials that help is sealing surgical incisions and bring about tissue repairs. They control blood loss for various surgical conditions. Prominent surgeries for which biosurgery products prove useful are neurological, orthopedic, and cardiovascular.
Majorly boosting the biosurgery market is the increasing number of surgeries around the globe. A rising geriatric population, growing number of sports injuries, rising instances of obesity, and spinal problems across the world are the main reasons for the rising need for surgeries. Apart from that higher thrust on research and development to come up with more cutting-edge biosurgery products and continued progress in healthcare technology is also underpinning the growth in the market.
Proving counterproductive for the market is the strict mandates set by the governments of various nations for approval of biosurgery products, rising demand for minimally invasive surgical processes, and the high cost associated with surgeries. Inadequate reimbursement policies for biosurgery products are also said to be hampering growth.
Helping to overcome the challenges facing the market at present is the bettering healthcare infrastructure in developing economies which has been stoking demand. A highly competitive environment in which players are constantly looking to increase their market share through product development and strategic mergers and acquisitions is also serving to overcome the headwinds.
Biosurgery Market: Overview
Biosurgery consists of a wide array of technologies and surgical techniques that are dedicated to aid in surgery by minimizing intra- and post-operative complications. Biosurgery products help facilitate hemostasis and tissue sealing in different surgical processes; they are also used in hard tissue regeneration in orthobiologics. Biosurgery products typically consist of natural, synthetic, or semi-synthetic materials that help seal surgical incisions and facilitate tissue repairs. Rising need of effective management and control of blood loss for various surgical conditions has emerged as a crucial factor necessitating the demand for these biosurgery products across the globe.
Major surgeries for which biosurgery products prove useful are neurological, orthopedic, cardiovascular, spinal, gynecological, thoracic, urological, and reconstruction surgeries. Increasing incidence of various sports-related injuries and surgeries performed for a large number of age-associated diseases have created vast opportunities for key players to grow in the global biosurgery market. Furthermore, neurology and spine-related surgery applications are major market segments and their growth is driven by the wide application of bone graft substitute products in different biosurgery processes. In addition, the popularity of various biologics over synthetic biosurgery products is expected to propel the market growth across regions.
Prepared with the help of leading market experts, the research report delves into key market dynamics, emerging trends, and growth prospects for stakeholders in the global biosurgery market. The report offers in-depth insights into disruptive medical device technologies that will shape up the competitive landscape of the biosurgery market. The analysis, performed with the help of numerous reliable primary and secondary research methods, cuts across an extensive industry database to estimate the revenue share and size of major segments.
Biosurgery Market: Key Drivers, Opportunities, and Challenges
The biosurgery market is primarily driven by the rising number of surgeries, growing sports-related injuries, and increasing spinal problems across the globe. Several lifestyle disorders, increasing count of people with obesity, and rise in age-associated surgeries are the factors boosting the growth of the market. Coupled with that, robust research and development activities leading to the launch of advanced biosurgery products and technological advancements in healthcare are key developments expected to fuel the market growth along the forecast period.
However, the high cost associated with surgeries, increasing demand for minimally invasive surgical processes, and stringent regulations by different government agencies for the approval of biosurgery products are factors that may hinder the growth of the global biosurgery market. In addition, lack of proper reimbursement policies for biosurgery products may impede the market growth in some regions. On the other hand, improving healthcare infrastructure in emerging markets is expected to significantly stimulate the demand for various biosurgery products in these regions.
Biosurgery Market: Regional Outlook
Geographically, the bio surgery market can be segmented majorly into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Europe are majorly responsible for the growth of biosurgery market; the growth is chiefly driven by rise in obesity-related surgeries, coupled with increasing number of spinal and sports-related surgeries. The emerging markets in Asia Pacific, Latin America, and the Middle East and Africa are poised to witness robust growth along the forecast period. Increasing count of geriatrics, along with a growing healthcare industry, is anticipated to stimulate the demand in these regions. Substantial investments by governments to strengthen public healthcare delivery is a key factor augmenting the growth of the market in emerging countries such as India, China, and Brazil.
Biosurgery Market: Competitive Landscape
Various medical device manufacturers are keen on introducing newer technologies and focus on their commercialization to capitalize on the lucrative trends in the global biosurgery market. Prominent players are actively making acquisitions to consolidate their market positions across the globe. Companies that are currently vying for a greater revenue share in the global biosurgery market are Baxter International Inc., Johnson & Johnson, C.R. Bard (Davol), B. Braun Melsungen AG, Sanofi Group (Genzyme), Atrium Medical Corporation, Stryker Corporation, Hemostasis, LLC, Kuros Biosciences AG., and Medtronic plc.
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