Global Biosurgery Industry Report – Forecast to 2023 is latest research report published by “Market Research Future”, which provides comprehensive information on Biosurgery Market – Trends, Size, Share, Statistics with historic and forecast data to 2023.
Biosurgery Market – Overview
Biosurgery also known as larval/ maggots therapy refers to the medical use of maggots to clean infected wounds, specifically wherein the infection is resistant to conventional antibiotic treatment. These maggots can also help new tissues to grow faster, perhaps by introducing natural antibiotics into the wound. Biosurgery is not new; this rediscovered technique has been proving very helpful in cases where the injured person is infected with bugs that resist antibiotics.
The global biosurgery market has been proliferating pervasively due to the augmenting demand for minimally invasive procedures. Moreover, the growing numbers of accident & injury cases along with the increasing prevalence of chronic diseases drive the growth of biosurgery market, acting as a major tailwind. This already booming market is estimated to garner further prominence over the anticipated period.
Acknowledging the exponential traction, the market perceives at present, Market Research Future (MRFR), in its recently published study report asserts that the global biosurgery market will garner USD huge accruals by 2023, registering approximately 7% CAGR throughout the forecast period (2018 to 2023).
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Additional factors such as the rising number of surgeries, increasing geriatric population, and rising occurrences of trauma and sports-related injuries are accelerating the market growth. Also, the increasing R&D spending driven by the financial support from the private and public sectors and players foster the growth of the biosurgery market.
Conversely, factors such as the high cost associated with the biosurgery and expensive biosurgery products, alongside the lack of skilled professionals required for the effective use of biosurgery products obstruct the growth of the market.
Leading Key Players
Key players driving the global biosurgery market include Baxter International, Inc., R. Bard, Braun Melsungen AG, Johnson & Johnson, MAQUET Holding B.V. & Co. Kg. (Getinge Group), Medtronic, PLC., Cohera Medical Inc., Commonwealth Serum Laboratories (CSL), Integra Lifesciences Holdings Corporation, Hemostasis, LLC, Stryker Corporation, Sanofi, Pfizer Inc., Kuros Biosciences Ltd., and Cryolife, Inc. among others.
Global Biosurgery Market – Segmentations
For enhanced understanding, the market has been segmented into four key dynamics: –
By Product : Hemostatic Agents, Bone Graft Substitutes, Soft-Tissue Attachments, Adhesion Barriers, Surgical Sealants & Adhesives, Staple-Line Reinforcement Agents, and others.
By Source : Biological & Natural Products and Synthetic Products.
By Application : General Surgery, Neurological Surgery, Cardiovascular Surgery, Thoracic Surgery, Orthopedic Surgery, Gynecology Surgery, Urology Surgery, and Reconstructive Surgery others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Detailed Regional Analysis
The North American region, heading with the proliferating healthcare sector dominates the global biosurgery market with the largest shares. Being a well-developed region having the world’s highest GDP, North America gets an edge over other regions in terms of every aspect, be it healthcare or technology.
Certainly, the well-developed economy in the region is allowing wide access to quality healthcare. Moreover, factors such as the exploding prevalence of chronic diseases, the growing aging population, and increasing incidences of trauma-related injuries that lead to the increase in the number of surgical procedures are substantiating the growth of the regional market.
Furthermore, factors such as the rapidly changing lifestyle of the people, faster adoption of highly advanced technology, and the presence of prominent market players such as Johnson & Johnson Services Inc. are acting as major tailwinds pushing up the market growth in the region.
The biosurgery market in the European region, led by the augmenting demand for minimally-invasive procedures, stands the second position, globally. The presence of a large patient pool coupled with the resurging economy in the region that is allowing widened access to the quality healthcare by increasing per capita healthcare expenses, fosters the regional market, predominantly.
Also, the government funding and support for increasing the research and development activities support the growth in the European biosurgery market.
The Asia Pacific biosurgery market backed by the increasing investments in healthcare and expansions is emerging as a profitable market, globally. Moreover, factors such as the vast technological advancements in the rapidly developing countries such as India and China alongside the augmenting demand for minimally-invasive procedures drive the regional market.
Simultaneously, a rapidly improving economy in the region support the growth in the regional market, improving the quality of healthcare and per capita spending.
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Global Biosurgery Market – Competitive Landscape
Highly competitive, the biosurgery market appears to be widely expanded and fragmented characterized by several small and large-scale players. To gain a competitive edge and to sustain their position in the market, these players incorporate various strategic initiatives such as partnership, acquisition, collaboration, expansion, and product launch.
The structure of the market is changing due to the acquisition of local players by multinational companies. Because of the increasing competition in the market, multinational companies are using the strategy of acquisition, which increases the profit of the company while significantly reducing the competition.
February 13, 2019 –– Johnson & Johnson (the US), a multinational medical device, pharmaceutical and consumer packaged goods manufacturing company announced the acquisition of Auris Health (the US), a robotic medical company for USD3.4 BN, through one of its subsidiaries.
Apart from supporting J&J to build a stronger surgery business, the acquisition is also expected to provide with access to Auris’ Monarch Platform, which is designed like an endoscopy but outfitted with micro-instruments and sensors to perform diagnostic tests and therapeutic bronchoscopic procedures. The platform’s first disease target is lung cancer.
During the announcement, J&J also highlighted how both advanced and general surgery witnessed growth during the quarter due to sales from biosurgery, endocutters and wound closures.
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