Global Biosurgery Market – Analysis and Forecast (2018-2024)

The global biosurgery market is growing at significant rate, due to expanding geriatric population and mounting number of surgeries.

Biosurgery is the combination of techniques and surgical techniques to decrease post and intra-operative complications. The global biosurgery market is growing at significant rate, due to expanding geriatric population and mounting number of surgeries. Different product and services contributed to the biosurgery market size. The market has witnessed high demand for bone-graft substitutes in the coming years due to mounting usage of bone-graft substitutes in various types of orthopedic surgeries as they decrease surgical time.

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Industry Dynamics

Industry Trends

Mounting market consolidation, mounting need for dental bone-graft substitutes, escalating emphasis on product launches and improvements, and mounting inclination for gelatin-based adhesives & hydrogels in surgical procedures are the trends in the biosurgery market.

Growth Drivers

The mounting number of surgeries, mounting prevalence of severe trauma injuries, escalating sports-related injuries and robust emphasis on R&D for the launch of novel and innovative products are the primary growth drivers for the biosurgery market. For instance, according to the American Society of Plastic Surgeons in 2015 approximately 15.9 million cosmetic procedures were performed in the U.S., a two percent increase over 2014.

In addition, the mounting occurrence of chronic and lifestyle associated diseases is also driving the growth of the market. For instance, according to GLOBOCAN globally, approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012. In addition, according to the World Health Organization (WHO), globally in 2015 approximately 8.8 million people died due to cancer. Moreover, approximately 70% of the deaths from cancer occur in low and middle-income countries.

Expanding geriatric population, mounting need for effectual blood loss management and mounting healthcare expenditure are also facilitating the growth of the biosurgery market. For instance, according to WHO, globally in 2010 approximately 524 million people were aged 65 years and older and is expected to reach 1.5 billion in 2050.

Geographic Overview

Geographically, North America is the largest biosurgery market as in the region the geriatric population is increasing. For instance, according to the U.S. Census Bureau, in 2012 approximately 43.1 million people were aged 65 years and older in the U.S. and is expected to reach 83.7 million in 2050.

The mounting number of trauma injuries, mounting number of surgical procedures, mounting healthcare expenditure, mounting occurrence of chronic diseases and lifestyle associated diseases and advance technological amendment are also up surging growth of the North American biosurgery market. For instance, according to the Centers for Disease Control and Prevention in 2012, approximately 117 million people in the U.S. had one of the more chronic conditions.

Asia-Pacific is observed to witness the fastest growth in the market, due to expanding geriatric population and refining healthcare infrastructure. In addition, mounting healthcare expenditure, mounting occurrence of chronic diseases and lifestyle associated diseases, an escalating number of surgical procedures, and mounting demand for effectual blood loss management are also creating a positive impact on the biosurgery market growth in the region.

Competitive Insight

Key players in the biosurgery market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In April 2018, Medtronic PLC received FDA approval of Infuse Bone Graft. It is used with spine implants composed of poly etherether ketone in oblique lateral interbody fusion and anterior lumbar interbody fusion procedures. Baxter International, Inc., Medtronic, PLC., Hemostasis, LLC, B.Braun Melsungen AG, Cohera Medical Inc., C.R. Bard, Sanofi, Johnson & Johnson, Getinge Group and Integra Lifesciences Holdings Corporation are the key players offering biosurgery.

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