The global biosurgery market is forecasted to record a CAGR of 6.32% during the projected period of 2021 to 2028. The market growth is attributed to the rising geriatric population, the incidence of musculoskeletal disorders, technological advancements, and the increasing research and development endeavors.
Biosurgical products are characterized as innovative solutions used to treat complex surgical conditions, provide wound sealing, and prevent excessive blood loss. These include anti-adhesive agents, surgical sealants, hemostatic agents, bone-graft substitutes, as well as soft tissue management (mesh/patch) products.
As per the data issued by the World Population Prospects: the 2019 Revision, by 2050, 1 in 6 people globally will be over the age of 65 years (16%), indicating an increase from 1 in 11 in 2019 (9%). The surge in the elderly populace has resulted in increased chronic diseases, such as cardiovascular and neurological conditions. For instance, according to the Health Union data, Parkinson’s disease is the second most common age-related nerve degenerating disorder following Alzheimer’s. The disease affects 5% of the population over age 85 years and 1% of the population over the age of 60 years. With brain grafting considered the most commonly adopted treatment procedure for Parkinson’s, the increasing geriatric population is set to propel the demand for this treatment procedure.
The global biosurgery market growth assessment entails the analysis of North America, the Asia-Pacific, Europe, and the Rest of World. North America held the highest market share in 2020, owing to key drivers like the rapid acceptance of technological advancements, the aging population, the growing incidence of chronic diseases, including cardiovascular ailments and cancer, and increasing government funding and investment.
The industrial rivalry within the global biosurgery market is anticipated to be moderate over the forecast years. With a fairly limited number of players, the market’s overall growth is not highly lucrative. Also, biological products must surpass stringent regulatory pathways. Hence, the competition among existing firms is moderate.
Some of the key companies operating in the market are Medtronic PLC, Becton, Dickinson and Company, Sanofi, Baxter International Inc, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- 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
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments