The biosurgery market is estimated to be valued at US$ 15,870.09 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Biosurgery market includes products that are used during surgical procedures to prevent blood loss or promote healing. The main products of this market are bone graft substitutes, soft tissue management, surgical sealants and adhesion barriers, and hemostatic agents. Bone graft substitutes are increasingly being adopted to replace traditional bone grafting procedures due to their ability to eliminate morbidity. Similarly, surgical sealants are widely used for reducing air or fluid leaks during surgery.

Market Dynamics:

The biosurgery market is primarily driven by growing prevalence of chronic diseases requiring surgical intervention and rising number of cosmetic and plastic surgeries globally. According to estimates by WHO, around 17.9 million people die due to cardiovascular diseases every year. Also, as per International Society of Aesthetic Plastic Surgery, around 25.6 million cosmetic surgical procedures were carried out globally in 2020 alone. This rising disease and surgical burden has increased demand for biosurgery products which help in faster healing. Additionally, these products reduce surgical complications compared to traditional treatments. For instance, bone graft substitutes have advantages over autografts as they help avoid donor site morbidity. The market is also witnessing increasing adoption of advanced sealants and hemostats owing to their ability to reduce air leaks and blood loss during complicated surgeries. However, high costs and limited reimbursements for biosurgery products continue to hamper market growth.

SWOT Analysis

Strength: Biosurgery products help stop bleeding and repair damaged tissues more effectively than traditional surgical methods. They reduce surgical complications and shorten recovery times for patients. Biosurgery solutions are designed to match the mechanical and biological properties of natural tissues.

Weakness: Biosurgery products are more expensive than conventional surgical tools and sutures. Their development and production processes also involve higher costs. Biosurgery procedures require specially trained medical professionals to perform and are more complex than standard surgeries.

Opportunity: Rising prevalence of chronic diseases and injuries worldwide is driving the need for advanced surgical solutions. Biosurgery could replace some synthetic surgical mesh used for hernia repair and reduce the risk of complications. Growing geriatric population prone to age-related diseases also provides opportunities.

Threats: Stringent regulatory norms delay product approvals and market entry. Growing preference for minimally invasive surgeries threatens demand for biosurgery solutions.

Key Takeaways:

The Global Biosurgery Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing prevalence of chronic diseases and rise in surgical procedures worldwide. According to estimates, the market was valued at US$ 15870.09 Mn in 2023 and is projected to reach US$ 23789.87 Mn by 2030.

Regional analysis: North America dominated the biosurgery market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to factors such as rising obesity rates, increasing geriatric population prone to injuries and chronic disorders, and high adoption of advanced treatment options. Asia Pacific is projected to exhibit the fastest growth owing to growing medical tourism industry and improving healthcare infrastructure.

Key players: Key players operating in the biosurgery market are Betatech Medical, Hemostasis LLC, CryoLife Inc., CSL Limited, Medtronic PLC, Johnson & Johnson, B.Braun Melsungen AG, Baxter International Inc., Integra Lifesciences Holdings Corporation, and Becton,  (CR Bard), among others. These players are focusing on new product launches, partnerships, and geographic expansions to strengthen their market presence.

Read more

https://www.rapidwebwire.com/biosurgery-market-size-share-growth-outlook-2023/