“The biosurgery market projected to grow at a CAGR of 6.5%.”
The biosurgery market is projected to reach USD 15.58 billion by 2023 from estimated USD 11.36 billion in 2018 at a CAGR of 6.5%. Factors such as the growing geriatric population and corresponding chronic diseases, increasing volume of surgeries and prevalence of severe trauma injuries, and rising need for effective blood loss management in patients are expected to drive the growth of this market during the forecast period of 2018 to 2023. However, stringent regulatory framework and the requirement of skilled personnel for the effective use of biosurgery products may challenge market growth to a certain extent in the coming years.
“The surgical sealants and adhesives segment is projected to witness the highest growth during the forecast period.”
On the basis of product, the biosurgery is broadly segmented into bone-graft substitutes, soft-tissue attachments, hemostatic agents, surgical sealants and adhesives, adhesion barriers, and staple-line reinforcement agents. The surgical sealants and adhesives segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to a large number of commercially available sealants and their higher utilization (as compared to other biosurgery products) by surgeons in various surgeries.
“Asia Pacific to witness the highest growth during the forecast period.”
Asia Pacific is expected to witness the highest growth during the forecast period (2018 to 2023). The region’s large geriatric population, large patient population, improving healthcare infrastructure, growing medical tourism, and epidemiological shift from infectious to chronic diseases are driving the growth of this market.
Break of primary participants from supply side was as mentioned below:
- By Company Type – Tier 1–42%, Tier 2–35% and Tier 3–23%
- By Designation – C Level–28%, Director Level–35%, Others–37%
- By Region – North America–35%, Europe–25%, Asia Pacific–19%, Latin America- 11%, and the Middle East and Africa–10%
Some of the major market players in the biosurgery market are Johnson & Johnson (US), Sanofi (France), Baxter (US), C.R. Bard (US), Integra LifeSciences (US), MAQUET (Sweden), Medtronic (Ireland), Cohera Medical (US), Hemostasis (US), Stryker (US), B.Braun (Germany), CSL (Australia), Pfizer (US), and CryoLife (US).
The report analyzes the biosurgery market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, and region. The report also includes a product portfolio matrix and product pipeline analysis of biosurgery products available in the market and are under one of the clinical trial phases respectively. The report also provides a competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons To Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them, garner a greater share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global biosurgery market. The report analyzes this market by product, application, and region.
- Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global biosurgery market
- Market Development: Comprehensive information on the lucrative emerging markets by product, application, and region
- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global biosurgery market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of leading players in the global biosurgery market