Global Biosurgery Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
Global Biosurgery Market is expected to reach the market valuation of USD XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX billion in 2020. Biosurgery products are utilized to reduce intra- and post-operative problems.
Accidents are becoming more common all over the world, which has led in an increase in the number of treatments needing long operating hours. As a result, the demand for blood loss management product for surgical procedures has increased dramatically. According to a National Library of Medicine paper published in 2019, uncontrolled bleeding is the greatest cause of preventable mortality due to injury in 2019. Hemorrhage is also responsible for over 35 percent of pre-hospital mortality and over 40 percent of deaths within the first 24 hours after a traumatic injury, according to the National Trauma Institute. The number of surgeries that take a long time to complete is on the rise. There is an increasing demand for appropriate blood loss management products in such a situation.
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COVID-19 spread globally with over 4.5 million cases and over 300,000 deaths in 2020, this had brought new challenges for the international medical and surgical community. All specialties had to shift to the urgency of their daily surgical procedures and consider non-surgical management options where possible. Surgeons had to adopt new guidelines to provide vital emergency surgery. The critical care bed capacity in the United Kingdom (UK) compares poorly with other countries in Europe. For instance, as per a paper by International Journal of Surgery in 2020, a comparison between the UK and Germany showed a difference in Intensive Care Unit (ICU) bed numbers of 7.5 versus 31.8 per 100,000 population, respectively. Moreover, as per Imperial College COVID-19 Response a critical care bed demand of more than 30 times the UK capacity. Due to this the surgical facilities have been utilized to handle the crisis. This also expected to have a significant backlog of future patient demand, even if some of the deferred cases are never rescheduled.
Based on product, the market is fragmented into surgical sealants, hemostatic agents, adhesion barriers, soft tissue attachments, and bone graft attachments. The bone graft attachments segment dominated the market in 2020 and generated the total revenue of USD XX million. It is anticipated to maintain its dominance during the forecast period owing to the rising requirements for dental bone grafts and technological advancements.
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Based on application, the market is fragmented into Surgery, orthopedic surgery, cardiovascular surgery, neurological surgery, and others (reconstructive, urology, and gynecology surgeries). The orthopedic surgery segment dominated the market in 2020 and generated the total revenue of USD XX million. It is anticipated to maintain its dominance during the forecast period owing to the increasing prevalence of bone diseases. Each year an estimated 1.5 million individuals suffer a fracture due to bone disease. Moreover, the risk of a fracture increases with age and is greatest in women. Roughly 4 in 10 White women aged 50 or older in the United States experiences a hip, spine, or wrist fracture sometime during the remainder of their lives.
Based on end-user the market is bifurcated into hospitals, clinics, and others. The hospitals segment dominated the market and is expected to maintain its dominance during the forecast period owing to increasing number of hospitals and infrastructural development especially in the developing countries along with rising surgical procedures performed in operating rooms of hospitals. For instance, as of 2018, the number of hospitals and ambulatory surgery centers in the United States is almost equal with 5,532 surgery centers and 5,534 hospitals, as per JLL stats.
Additionally, the report provides detailed initiatives that are being taken in the field of Biosurgery. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX million in 2020 owing to the important competitors, and high investment in research and development.
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Major key players include Johnson & Johnson (Ethicon), Medtronic Plc, Strykers, Baxter International Inc., C.R. Bard, Sanofi, Pfizer, B. Braun Melsungen AG, Integra Lifesciences Corporation, and Zimmer Biomet are some of the prominent players operating in the global Biosurgery market. Several M&A’s along with partnerships have been undertaken by these players to develop Biosurgery.
Global Biosurgery Market Segmentation
Market Insight, by Product
- Surgical Sealants
- Hemostatic Agents
- Adhesion Barriers
- Soft Tissue Attachments
- Bone Graft Attachments
Market Insight, by Application
- General Surgery
- Orthopedic Surgery
- Cardiovascular surgery
- Neurological Surgery
- Others (Reconstructive, Urology, and Gynecology Surgeries)
Market Insight, by End-User
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Johnson & Johnson (Ethicon)
- Medtronic Plc
- Baxter International Inc.
- C.R. Bard
- B. Braun Melsungen AG
- Integra Lifesciences Corporation
- Zimmer Biomet