The Industry Report “Biosurgery Market Research Report – Forecast to 2023”provides a clear picture of the Current Market Scenario which includes past and estimated future size with respect to value and volume, medical advancement, macro economical and governing factors in the market.
Global Biosurgery Market – Overview
Biosurgery refers to the medical use of maggots (also known as larval/ maggots therapy) to clean infected wounds, especially wherein the infection is resistant to conventional antibiotic treatment.
Maggots can even help new tissue grow, perhaps by introducing natural antibiotics into the wound. This rediscovered technique has been proving very helpful in cases where the injured person is infected with bugs resistant to antibiotics.
Biotechnology also means surgical techniques that employ a range of natural or manmade materials wherein, biocompatible products are used such as a bio-glue that can seal surgical incisions, bio-lubricants that help joint movement, biomaterials that support on which living tissue is grown or shaped, and implants such as artificial pacemakers that are made with biocompatible materials.
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Leading Key Players
Key players leading the global biosurgery market include Baxter International, Inc., Braun Melsungen AG, R. Bard, Johnson & Johnson, Medtronic, PLC., MAQUET Holding B.V. & Co. Kg. (Getinge Group), Cohera Medical Inc., Integra Lifesciences Holdings Corporation, Commonwealth Serum Laboratories (CSL), Hemostasis, LLC, Sanofi, Pfizer Inc., Stryker Corporation, Cryolife, Inc., and Kuros Biosciences Ltd. among others.
Market Growth Analysis
Over the past few years, the growing numbers of accident & injury cases along with the growing prevalence of chronic diseases drive the market growth of biosurgery, acting as a major tailwind.
Moreover, an increasing number of surgeries led by the ever-increasing geriatric population and rising occurrences of trauma and sports-related injuries are escalating the market on the global platform.
Acknowledging the kind of the growth, the market witnesses at present, Market Research Future (MRFR), in its recently published study report confirms that the global Biosurgery market will register over 7% CAGR from 2018 to 2023, witnessing exponential accruals by 2023. The market is already booming and estimated to garner further prominence over the anticipated period.
Additional factors boosting the growth of the market include rising R&D spending led by the support from private and public organizations and key players foster the market growth.
On the flip side, factors such as the rising cost of surgical procedures, expensive biosurgery products, and lack of skilled professionals for the effective use of biosurgery products impede the growth of the market.
Global Biosurgery Market – Segments
MRFR has segmented the report into four key dynamics for enhanced understanding.
By Product : Bone Graft Substitutes, Hemostatic Agents, Soft-Tissue Attachments, Surgical Sealants & Adhesives, Adhesion Barriers, and Staple-Line Reinforcement Agents among others.
By Source : Biological and Natural Products and Synthetic Products.
By Application : Neurological Surgery, General Surgery, Cardiovascular Surgery, Orthopedic Surgery, Thoracic Surgery, Gynecology Surgery, Reconstructive Surgery, and Urology Surgery among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Global Biosurgery Market – Regional Analysis
North American region accounts for the leading Biosurgery market followed by the European & Asia Pacific region, respectively. This well-developed region with the world’s highest GDP holds an edge over other regions in terms of every aspect including healthcare, technology, and wellness.
Indeed, the developed economy is allowing wide access to the quality healthcare. Moreover, the rising prevalence of chronic diseases, growing aging population, and increasing incidences of trauma-related injuries that leads to the increase in the number of surgical procedures are some of the key forces driving the market growth in the region.
The presence of a well-established healthcare system and the adoption of highly advanced technology, the changing lifestyle, and the presence of leading market players such as Johnson & Johnson Services Inc. are some of the other major forces pushing up the growth in the regional market.
The biosurgery market in the European region, heading with the demand for minimally-invasive procedures accounts for the second-largest market, globally, following the North American market closely.
The presence of a large patient pool alongside the resurging economy in the region which is allowing access to the quality healthcare by increasing per capita healthcare expenses drives the regional market predominantly.
Moreover, government funding and support for increasing the research and development activities act as a major tailwind supporting the market growth in Europe. The western European countries such as the U.K., Italy, and France, lead the regional market.
The Asia Pacific region, led by the increasing prevalence of chronic diseases and rising investments in healthcare and expansions, is emerging as a lucrative market for minimally-invasive cosmetic procedures. Improving economic conditions in the region support the market growth in the region, enhancing the quality of healthcare and per capita expenses.
Competitive Analysis
Highly competitive, the biosurgery market appears fragmented characterized by the presence of several large and small-scale players. These players incorporate strategic initiatives such as acquisition, partnership, collaboration, expansion, and technology launch to gain a competitive advantage as well as to maintain their positions.
The significant growth potential demonstrated by the market is attracting many high-profile new entrants, which is resulting in intensifying the competition further.
Huge investments made in the development of innovative techniques are expected to turn the market landscape bringing about many novel technological innovations. Leverage to the current trend of these key players to expand the network and product distribution mainly into developing economies, the market is expected to witness overall growth over the forecast period.
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Industry/ Innovation/ Related News
January 11, 2019 –– TELA Bio, Inc. (the US), a leading biotechnology company operating operates in the healthcare industry and partner Aroa Biosurgery (New Zealand), a soft-tissue repair company announced the FDA 510(k) clearance for the large-size OviTex reinforced bioscaffolds which are intended for soft tissue repair.
These OviTex RBS devices are surgical implants with integrated synthetic and biologic materials that allow the movement of cells and fluid through the product. With this clearance, the companies said that they will now offer the OviTex RBS devices in the US with a 150% surface area increase over its currently available offerings.
The launch of the larger OviTex RBSs indicates the duo companies’ mission to provide valuable solutions for a comprehensive range of hernia repairs and abdominal wall reconstructions, including the most complex cases presenting a technical challenge for some surgeons.
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