Biosurgery Market Size To Grow USD 12.75 Billion, Globally, By 2022 | Johnson and Johnson, Stryker Corporation

Hemostatic and surgical sealing agents segment collectively held about half of the market share in 2015, which is expected to flourish over the forecast period. The neuro and spine surgery application segment is likely to lead the biosurgery market throughout the study period.

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The world biosurgery market is expected to reach $12,758.1 million by 2022 with a CAGR of 8.1% from 2015 to 2022.

COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

The world biosurgery market is projected to grow at a substantial rate owing to rise in sport and spine-related injuries, per capita healthcare expenditure, rise in number of surgeries due to increase in obese population along with lifestyle disorders and others. Also, availability of multi-functional products would provide a lucrative market opportunity; for instance, apart from fibrin's use as surgical sealants, it is also used as hemostatic agents to prevent excessive blood loss during cardiothoracic and orthopedic surgeries. However, factors that would hamper the market growth are high cost associated with surgeries, stern regulatory environment for product approval, and growing popularity of minimally invasive surgeries.

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The bone graft substitutes segment contributed to one-third share in the overall biosurgery market in 2015. This segment covers products such as cell-based matrices, bone morphogenetic proteins, demineralized bone matrix, and synthetic graft extenders. However, surgical sealant agents segment is expected to grow at the highest growth rate during the forecast period because of the availability of multifunctional products. The neuro- and spine surgery application segment is projected to dominate the market due to high penetration of bone graft substitute products usage in the surgeries. Also, currently biologics products are more popular compared to synthetic biosurgical products, and this trend is expected to continue during the analysis period.

The North American biosurgery market offers lucrative growth opportunities owing to its developed economy, high public awareness, rising patient pool, and arrival of new multifunctional products. Developing countries such as India, China, Brazil, and South Korea are expected to boost the market growth with rapid change in healthcare infrastructure and increase in purchasing power. Increase in medical tourism, heavy investment by top players in R&D activities, and low cost surgeries are projected to boost the market growth during the analysis period, particularly in the Asia-Pacific region.

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The Major Key Players Are:

• Medtronic PLC
• Baxter International Inc.
• C. R. Bard Inc.
• Johnson and Johnson
• Stryker Corporation
• Sanofi S.A.
• Atrium Medical Corporation (Maquet Getinge Group)
• Hemostasis LLC
• CryoLife Inc.
• Kuros Bioscience.

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