The Biosurgery Market is estimated to be valued at US$ 15870.09 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Biosurgery refers to the use of biologics such as tissues, grafts, and synthetic materials in surgical procedures. Biosurgery products are used for reducing bleeding and enhancing wound healing. Some common biosurgery products include bone graft substitutes, soft tissue management, adhesion prevention products, hemostatic agents, and skin substitutes. These products find wide applications in general surgery, cardiac surgery, orthopedic surgery, neurosurgery, and gynecology among others.

Market Dynamics:

Increasing incidence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous ulcers is expected to drive the demand for biosurgery products. According to the Centers for Disease Control and Prevention (CDC), in the U.S., around 6.7 million people suffer from chronic wounds. Moreover, increasing preference for minimally invasive surgeries as well as rising demand for hernia repair procedures is also propelling the market growth. Significant advancements in regenerative medicine technologies over the past few years have enabled development of advanced tissue engineering and wound healing products. Furthermore, growing geriatric population who are more prone to trauma injuries and chronic conditions is fueling the market growth. However, high costs associated with biosurgery products and stringent regulatory policies are some of the factors restraining the market growth.

Segment Analysis

The biosurgery market segments include Regenerative Products, Hemostatic Agents, Adhesion Barrier, Tissue Sealants and Adhesion Prevention Products. Among these, the Hemostatic Agents segment dominates the global biosurgery market and accounts for around 30% of the total market share. This is because hemostatic agents are widely used to control bleeding during surgeries. The increasing number of surgeries performed annually further drives the demand for hemostatic agents.

PEST Analysis

Political: Regulatory bodies in various countries have enforced stringent standards on biosurgery products to ensure safety and efficacy. This encourages innovations in safe and effective products.

Economic: Growth in the number of healthcare facilities investing in advanced surgical options has boosted the biosurgery market. Rise in disposable incomes allows more patients to opt for advanced procedures.

Social: Growing awareness about advantages of biosurgery products in reducing post-surgery complications and quick recovery enhances their adoption rate.

Technological: Extensive R&D has led to development of advanced bioactive surgical materials, tissue adhesives and sealants with improved healing abilities.

Key Takeaways

The Global Biosurgery Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing number of surgical procedures worldwide. The North America region dominates the biosurgery market owing to advanced healthcare infrastructure and favorable reimbursement policies for surgical procedures in the region. Key players operating in the biosurgery market are Betatech Medical, Hemostasis LLC, CryoLife Inc., CSL Limited, Medtronic PLC, Johnson & Johnson, B.Braun Melsungen AG, Baxter International Inc., Integra Lifesciences Holdings Corporation, and Becton, Dickinson and Company (CR Bard), among others.

The Asia Pacific region is projected to exhibit the fastest growth in the biosurgery market during the forecast period. This is attributed to rising medical tourism, growing healthcare expenditure and increasing focus of market players on developing economies.

Key players operating in the biosurgery market are Betatech Medical, Hemostasis LLC, CryoLife Inc., CSL Limited, Medtronic PLC, Johnson & Johnson, B.Braun Melsungen AG, Baxter International Inc., Integra Lifesciences Holdings Corporation, and Becton, Dickinson and Company (CR Bard), among others. These key players are focusing on new product launches, targeting emerging economies through partnerships with local players to strengthen their market presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it