The Asia-Pacific biosurgery market is anticipated to record a CAGR of 7.46% during the forecast period, 2021-2028. The surging aging population and numerous lifestyle conditions raise the demand for biosurgery products, which boosts market growth.
Indonesia, Australia & New Zealand, Japan, India, China, Vietnam, South Korea, Thailand, and Rest of Asia-Pacific are assessed for the Asia-Pacific biosurgery market growth analysis. In Japan, the increasing number of surgical procedures and geriatric population drives the market growth. Japan is home to one of the highest percentages of the older population. As per the World Ageing Population, almost 35,524,000 people were aged 65 and above in 2019, which is slated to increase further by 2050. As a result, the chronic disease incidence and long-term and healthcare expenditures are set to grow. Moreover, the rising aesthetic procedures and the growth strategies adopted by companies benefit market growth.
In Thailand, the increased number of aesthetic procedures contributes to market growth. As per the International Society of Aesthetic and Plastic Surgery report, almost 92,597 surgical aesthetic procedures were performed in 2019. It is also the most sought country for medical tourism, given its liberal medical visa policies and cost-effective medical surgeries. In 2018, medical tourism accounted for 0.4% of the GDP in Thailand as per the International Trade Administration. Furthermore, the country’s healthcare expenditure has increased steadily over the years. Several huge conglomerate companies are inclined to invest in healthcare, thereby benefiting market growth. Such factors facilitate market growth in these countries.
Some of the prominent market players include RTI Surgical, CSL Limited, Cryolife Inc, Integra Lifesciences Holdings Corporation, etc.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
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- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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