Biosurgery Market Analysis, Share, Growth Drivers and Forecast 2023 by Top Key Players Baxter International Inc., Medtronic, Johnson & Johnson, CryoLife, Inc., Hemostasis, LLC

The global biosurgery market is witnessing considerable growth due to increasing geriatric population, increasing healthcare expenditure and growing sports related injuries. Moreover, growing prevalence of chronic diseases including cancer, cardiovascular disease, infectious diseases, autoimmune diseases, diabetes mellitus, and nephrological diseases is supporting the growth of the market. Based on product type, the surgical sealants segment is expected to grow at the fastest rate during the forecast period. The increasing adoption of biosurgery products across the globe, owing to its ease of use, and its efficacy in blood loss management is driving the growth of this segment.

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The rapid growth in emerging economies is expected to create opportunities for the manufacturers of biosurgery products. However, high cost of these products and lack of reimbursement are the key factors hampering the growth of the global market.

Geographically, North America has been the largest market for biosurgery, owing to increased awareness, established healthcare industry, and easy accessibility to advanced technologies. The U.S. contributed largest revenue to the North American as well as global biosurgery market. The increasing prevalence of geriatric population and increasing volume of surgeries is the key growth driving factor for the U.S. biosurgery market.

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Europe has been the second largest market for biosurgery, where the market is driven by the presence of a large pool of patients with chronic diseases, increasing healthcare expenditure and rapidly developing healthcare infrastructure. In 2015, Germany lead the European biosurgery market and it is also expected to grow at the fastest rate in Europe, during forecast period. Globally, the biosurgery market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing prevalence of chronic diseases, increasing per capita income leading to improving standard of living, increasing healthcare spending, growing demand for better quality medical care, and awareness about biosurgery products in the region.

The key players operating in the global biosurgery market are Baxter International Inc., C.R. Bard, Inc., Medtronic, Inc., Johnson & Johnson, Sanofi Group, B. Braun Melsungen AG, Cryolife, Stryker Corporation and Hemostasis, LLC.

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