Burlingame, June 30, 2023 (GLOBE NEWSWIRE) -- The global biosurgery market was valued at US$ 13.89 Billion in 2021 and is forecast to reach a value of US$ 22.21 Billion by 2028 at a CAGR of 6.9% between 2022 and 2028. Biosurgery is promising adjunct to the whole spectrum of topical treatment methods, in particular for debridement. The term 'biosurgery' describes the use of living maggots on wounds to remove devitalized tissue, improve wound healing, and decrease the risk of infection. Biosurgery products help facilitate hemostasis and tissue sealing in different surgical processes; they are also used in hard tissue regeneration in orthobiologics. Surgery products typically consist of natural, synthetic, or semi-synthetic materials that help seal surgical incisions and facilitate tissue repairs. It is widely used to prevent excessive blood loss, repair damaged tissues and bones, and provide adhesion for wound or tissue sealing.
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Key Trends and Analysis of the Global Biosurgery Market:
Increase in number of surgical procedures is one of the key trends expected to augment the growth of the global biosurgery market. For instance, rise in the burden of cardiovascular diseases across the world leads to an increase in number of surgical procedures. This in turn has increased demand for advanced surgical tools and devices, and thus, players in the market are focusing on launching novel products owing to the growing burden of cardiovascular disease coupled with the increasing geriatric population. Worldwide, more than 310 million major surgeries are performed each year; around 40 to 50 million in the U.S. and 20 million in Europe, and this trend is expected to continue over the forecast period, driving the growth of the market.
Global Biosurgery Market – Drivers
Rising prevalence of chronic diseases to augment market growth
Chronic diseases are the leading cause of death and disability around the world. According to the World Health Organization (WHO), noncommunicable diseases (NCDs) kill more than 41 million people each year, equivalent to 74% of all deaths worldwide. Cardiovascular diseases account for most NCD deaths, or 17.9 million people every year, followed by cancers (9.3 million), chronic respiratory disease (4 million), and diabetes (2 million). Of all deaths, 77% are in low- and middle-income countries. Moreover, such a high burden of chronic diseases leads to an increased number of surgical procedures and is expected to drive the market growth.
Biosurgery Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2021: | US$ 13.89 Bn | |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2028 | |
| Forecast by 2022-28 CAGR: | 6.9% | 2028 Value Projection: | US$ 22.21 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | 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. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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High demand for biosurgery products to boost market growth
With the rise in burden of chronic disorders and related surgeries, the demand for novel/advanced biosurgery products is also increasing with the rapid pace. Thus, player in the market are focusing on launching novel/advanced products in the market. In February 2021, EndoClot Plus, Inc. (EPI) received the U.S. Food and Drug Administration (FDA) approval for EndoClot Polysaccharide Hemostatic System (EndoClot PHS). It is an innovative product that assists Gastroenterologists to stop bleeding rapidly and reliably. It is a single-use device that includes the starch-based powder hemostat that is applied directly to the bleeding site through a flexible endoscope.
Global Biosurgery Market – Restrain
High cost of surgery to hamper the growth of the market
One of the key factors expected to hamper the growth of the global biosurgery market is the high cost of advanced surgical procedures and high cost of biosurgery products. Bio-surgeries generally incur high costs owing to the pre- and post-surgery fees. Moreover, the high cost, coupled with the unfavourable or poor reimbursement scenario for these products, makes them unaffordable for the large section of the patient population. Furthermore, the high procedural costs and other additional expenditures on medical tests, post-surgery garments, and medications are some major factors that are expected to hamper the growth of the market.
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Global Biosurgery Market – Opportunities
Growing geriatric population worldwide is expected to offer significant growth opportunities for players in the global biosurgery market.
Geriatric population is prone to various health conditions. Aging can cause changes in heart vessels and blood vessels that can increase a person's risk of developing cardiovascular disease. Moreover, aging increases the risk of chronic diseases such as cancer and diabetes. According to the National Institute of Health (NIH), over 85% of older adults have at least one chronic health condition, and 60% have at least two chronic conditions. Moreover, according to the U.S. Census Bureau, around 56 million adults ages 65 and older live in the United States; around 16.9% of the US population, and the number is expected to reach around 85.7 million by 2050; 22% of the U.S. population.
Global Biosurgery Market - Key Developments
In March 2022, Molecular Matrix, Inc. (MMI) launched Osteo-P Synthetic Bone Graft Substitute (BGS) for use in the musculoskeletal system.
In February 2022, Gunze Limited announced that Gunze has received medical device approval to manufacture and sell TENALEAF, the first sheet-type absorbable adhesion barrier made in Japan.
Key Market Takeaways:
Global biosurgery market is expected to exhibit a CAGR of 6.9% during the forecast period. The biosurgery market is growing rapidly in response to the increasing number of surgeries, rising number of geriatric patients, and initiatives taken by the market players.
On the basis of Treatment Type, Hemostatic Agents Segment is expected to dominate the market during the forecast period and this is attributed to the increase in number of surgical procedures. Hemostatic agents are used to control external bleeding by enhancing the natural clotting process and, thus, are widely used to aid in bleeding control.
On the basis of Disease Type, Cardiovascular Surgery Segment is expected to dominate the market during the forecast period and this is attributed to the increasing prevalence of cardiac diseases and increasing number of cardiovascular surgeries worldwide.
On the basis of Geography, North America is expected to hold a dominant position over the forecast period due to rise in prevalence of chronic diseases, growing geriatric population, and increasing number of surgical procedures in the region.
Competitive Landscape:
Key players operating in the global biosurgery market include CryoLife Inc., Hemostasis LLC, Betatech Medical, CSL Limited, Johnson & Johnson, Medtronic PLC, B.Braun Melsungen, Integra Lifesciences Holdings Corporation, Baxter International Inc., and Becton, Dickinson and Company (CR Bard), among others.
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Detailed Segmentation:
Global Biosurgery Market, By Treatment Type:
- Hemostatic Agents
- Bone-graft Substitutes
- Surgical Sealants and Adhesives
- Soft-tissue Attachments
- Adhesion Barriers
- Staple Line Reinforcement
Global Biosurgery Market, By Disease Type:
- Orthopedic Surgery
- General Surgery
- Neurological Surgery
- Cardiovascular Surgery
- Gynecological Surgery
- Other Applications
Global Biosurgery Market, By Region
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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