Biosurgery Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Product (Surgical Sealants, Hemostatic Agents, Adhesion Barriers, Soft Tissue Attachments, Bone Graft Attachments); Application (General Surgery, Orthopedic Surgery, Cardiovascular Surgery, Neurological Surgery, Others); End-User (Hospitals, Clinics, Others); Region and Country
Biosurgery Market was valued at ~US$ 12 billion in 2020 and is expected to grow at a CAGR of ~7% over the forecast period (2021-2027). In various surgeries, biosurgery products are utilized to reduce intra- and post-operative problems. The inefficient use of standard wound closure materials, such as sutures and staples, is one of the leading causes of blood loss in surgical and trauma patients. The rising frequency of accidents around the world has resulted in an increase in the number of procedures requiring extensive operating hours. As a result, the demand for appropriate blood loss management products during surgical procedures has skyrocketed. As per an article published by National Library of Medicine, in 2019, uncontrolled hemorrhage is the leading cause of preventable death that occurs due to injury. Similarly, as per National Trauma Institute, after a traumatic injury, hemorrhage is responsible for over 35% of pre-hospital deaths and over 40% of deaths within the first 24 hours of the injury. The number of surgeries that involve long operating times is increasing. In such a scenario, there is a growing demand for effective blood loss management products.
Furthermore, factors such as advancements in surgeries and novel product launch to help surgeons perform surgeries efficiently are expected to further fuel the market. For instance, as per Eurostats, in 2018, caesarian procedure was performed at least 1.16 million times in the EU. A total of 233 300 caesarean sections were performed in Germany, while 146,200 to 151,100 were performed in Poland, France, and Italy, also the high number of caesarean sections of about 685,500 were performed in Turkey (685, 500) in 2018.
As per WHO report in 2018, every year approximately 1.3 million people of people die because of a road traffic crash. Moreover, between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability because of their injury. Moreover, falls are also one of the major public health problems. According to WHO, estimated 684,000 fatal falls occur each year, making it the second leading cause of unintentional injury death, after road traffic injuries, worldwide. With over 80% of fall-related fatalities occur in low- and middle-income countries, and with regions of the Western Pacific and South-East Asia accounting for 60% of these deaths. Globally, death rates are highest among adults over the age of 60 years. In many cases of these accidents, the death is due to extreme blood loss either during or post-surgery. Hence, the increase in road accident fatalities has increased the demand for biosurgery
Annual Global Road Crash
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 facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst product, bone graft attachments segment holds the major share”
Based on product, the global Biosurgery market is bifurcated into surgical sealants, hemostatic agents, adhesion barriers, soft tissue attachments, and bone graft attachments. The bone graft attachments segment dominated the market with a share of XX% in 2020 and is expected to maintain its dominance during the forecast period owing to the owing to the rising requirements for dental bone grafts and technological advancements. As per Minim Invasive Surg in 2018, that minimally invasive procedures are being adopted for the treatment of a varied range of bone disorders in the year. It also stated that about 400,000 spinal fusion cases were done in the U.S. annually. Such factors positively impact market growth.
“Amongst application, orthopedic surgery is anticipated to grow at the highest CAGR during the analyzed period”
Further based on application, the market is fragmented into general surgery, orthopedic surgery, cardiovascular surgery, neurological surgery, and others (reconstructive, urology, and gynecology surgeries). In 2020, orthopedic surgery accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period owing to the rising prevalence of bone disease. 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 in their lifetime. Furthermore, the lifetime risk of developing rheumatoid arthritis for U.S. adults is 3.6 % for women and 1.7 percent for men.
“Amongst end-user, hospitals segment is anticipated to grow at the highest CAGR during the analyzed period”
Based on end-user, the market is fragmented into hospitals, clinics, and others. In 2020, hospitals accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period owing to the 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.
“North America signifies one of the largest markets of Biosurgery Market”
For a better understanding of the market dynamics of the Biosurgery market, a detailed analysis was conducted for different regions across the globe including 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 increase in healthcare expenditure has also been boosting the market for biosurgery in the region. Among OECD member countries, the United States had the highest percentage of gross domestic product spent on health care in 2018 – or latest year available. The U.S. spent nearly 17 percent of its GDP on health care services. Switzerland, France, and Germany followed the U.S. with distinctly smaller percentages.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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1.1 Market Definitions
1.2 Objective of the Study
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Global Biosurgery Market Study
2.1 Research Methodology for the Global Biosurgery Market
2.1.1 Main Objective of the Global Biosurgery Market
TOP START-UPs UNDER BIOSURGERY INDUSTRY
GLOBAL BIOSURGERY MARKET REVENUE
8.1 Surgical Sealants
8.2 Hemostatic Agents
8.3 Adhesion Barriers
8.4 Soft Tissue Attachments
8.5 Bone Graft Attachments
9.1 General Surgery
9.2 Orthopedic Surgery
9.3 Cardiovascular surgery
9.4 Neurological Surgery
9.5 Others (Reconstructive, Urology, and Gynecology Surgeries)
11.1 NORTH AMERICA BIOSURGERY MARKET
11.1.1 United States
11.1.3 Rest of North America
11.2 EUROPE BIOSURGERY MARKET
11.2.3 United Kingdom
11.2.6 Rest of Europe
11.3 ASIA PACIFIC BIOSURGERY MARKET
11.3.5 Rest of Asia Pacific
11.4 REST OF THE WORLD BIOSURGERY MARKET
12.1 Market Drivers
12.2 Market Challenges
12.3 Impact Analysis
13 LEGAL & REGULATORY FRAMEWORK
14.1 Demand Side Analysis
14.2 Supply Side Analysis
14.2.1 Top Product Launches
14.2.2 Top Business Partnerships
14.2.3 Top Merger & Acquisitions
VALUE CHAIN ANALYSIS
16 BIOSURGERY MARKET OPPORTUNITIES
17 BIOSURGERY MARKET TRENDS & INSIGHTS
18.1 Porter’s Five forces analysis
18.1.1 Bargaining power of Supplier
18.1.2 Bargaining power of Buyer
18.1.3 Industry Rivalry
18.1.4 Availability of Substitute
18.1.5 Threat of new Entrants
18.2 Competitive Landscape
18.2.1 Company Shares, By Revenue
19.1 Medtronic PLC
19.1.1 Key Facts
19.1.2 Business Description
19.1.3 Key Product/Services Offerings
19.1.4 Growth Strategy
19.1.5 SWOT Analysis
19.1.6 Key Financials
18.104.22.168 Revenue Split
22.214.171.124 Financial Overview of Medtronics plc
19.1.7 Recent Developments
126.96.36.199 Product Launch
188.8.131.52 Business Expansion and Investments
184.108.40.206 Merger and Acquisition
19.2 Johnson & Johnson (Ethicon)
19.4 Baxter International Inc.
19.5 C.R. Bard
19.8 B. Braun Melsungen AG
19.9 Integra Lifesciences Corporation
19.1 Zimmer Biomet
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Biosurgery Market were the three major steps undertaken to create and analyze the adoption of Biosurgery for the different operations and surgeries across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Biosurgery sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Biosurgery through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Biosurgery market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are technology and application. Further country-level analyses were conducted to evaluate the overall adoption of Biosurgery in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Biosurgery. Further, we conducted factor analysis using dependent and independent variables such as increasing chronic disease incidences and the growing geriatric population. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Biosurgery industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Biosurgery market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (USD) and the adoption rate of Biosurgery across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Biosurgery market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Biosurgery market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the technology and application end-user of the Biosurgery market.
Main Objective of the Biosurgery Market Study
The current & future market trends of Biosurgery were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Biosurgery in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, application, and end-user
- Define and analysis of the regulatory framework for the Biosurgery industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Biosurgery market for the major region
- Major regions studied in the report include North America (the United States, and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
- Company profiles of the Biosurgery market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry