Biosurgery Market worth $16.0 Billion by 2026 - Leading Key Players are Johnson & Johnson (US), Baxter International Inc. (US), Medtronic Plc (Ireland)

According to the new market research report "Biosurgery Market by Product Type (Sealants, Hemostats, Adhesion Barrier, Soft Tissue Attachments, Biological Meshes, DBM, Bone Graft Substitutes), Application (Orthopedic, Cardiovascular), End User (Hospitals, Clinics) - Global Forecast to 2026", published by MarketsandMarkets™, is projected to reach USD 16.0 billion by 2026 from USD 12.2 billion in 2021, at a CAGR of 5.7% during the forecast period.

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A significant rise in the number of surgical procedures across the globe is driving the demand for biosurgery products. The increase in the number of elective surgeries can be attributed to the growing prevalence of obesity and other lifestyle diseases, the rising geriatric population, the increasing prevalence of orthopedic conditions, and the increasing incidence of spinal injuries and sports-related injuries. Biosurgery products are finding substantial application in severe trauma injuries, including traumatic brain injuries (TBIs), spinal cord injuries, spine fractures, collapsed lungs, and subarachnoid hemorrhage. Additionally, rising focus towards effective blood loss management during surgeries are also supporting the demand for biosurgery products such as hemostatic agents and surgical sealants and adhesives. Moreover, established market players are investing heavily into product R&D to gain competitive edge, which has resulted into an increasing availability of advanced biosurgery products in the market.

On the other hand, high cost of biosurgery product is one of the restraining factor to the biosurgery market growth. Most of the products available in this market are priced at a premium. The high cost, coupled with the unfavorable reimbursement scenario for these products in several emerging countries, makes them unaffordable for a large section of the target patient population. Moreover, the dearth of skilled professionals and stringent regulations are further expected to hamper the growth of this market during the forecast period.

The surgical sealants and adhesives segment is expected to grow at the highest CAGR during the forecast period

Based on the product, the surgical sealants and adhesives segment accounted to be the fastest-growing segment in the global biosurgery market in 2020. Sealants and adhesives have successfully replaced traditional wound closure techniques, such as suturing or stapling, in many surgical applications. These products are becoming an increasingly important element in modern medicine by enabling innate wound healing processes to occur through the adhesion of tissue to the on-site or non-tissue surfaces. The high growth of surgical sealants and adhesives segment can be attributed to the growing adoption of natural/biological sealants such as fibrin-based sealants globally, owing to their relative safety and low risk of infection.

The orthopedic segment accounted for the largest share of the biosurgery market, by application

Based on applications, the orthopedic segment commanded the largest share in 2020. Increasing incidence of sports injuries and the growing prevalence of lifestyle disorders, such as arthritis, osteoporosis, and obesity (leading to orthopedic problems), have surged the volume of orthopedic surgeries. Orthopedic surgical procedures are often associated with the risk of significant blood loss owing to the dissection of bony and fibrotic tissues. Thus, bleeding management and the effective regeneration of tissues and bones are the common challenges faced by orthopedic surgeons. In order to overcome these challenges, surgeons finds substantial use of surgical sealants, hemostats, bone-graft substitutes, and soft-tissue repair products, which is driving the revenue growth in the segment.

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Hospitals segment accounted for the largest share of the market, by end user

The biosurgery market, by end-user, is segmented into hospitals, clinics, and others. The hospital segment accounted for the largest market share in 2020. The large share of this segment can be attributed to the rising number of hospitals and infrastructural & economic development, especially in emerging countries. Additionally, the rising surgical procedures performed across operating rooms—where biosurgery products are substantially used across various surgical procedures—also supports high growth in the hospitals segment.

Asia Pacific is expected to show the highest growth rate in the biosurgery market

The Asia Pacific market is expected to grow at the highest CAGR from 2021 to 2026. This can be attributed to the presence of high-growth markets such as India, China, and Japan; rapid growth in the geriatric population; the implementation of favorable government initiatives; growing per capita income; increasing investments in the healthcare industry; the rising demand for cutting-edge technologies; and the expansion of private-sector hospitals to rural areas. In addition, the Asia Pacific is becoming a medical tourism hub and is considered one of the fastest-growing markets for surgical products. Low infrastructure and treatment costs and the availability of highly educated physicians have driven medical tourists to APAC countries, particularly to India and China.

The prominent players in this biosurgery market are Johnson & Johnson (US), Baxter International Inc. (US), Medtronic Plc (Ireland), Becton, Dickinson & Co. (US), B. Braun Melsungen AG (Germany), Stryker Corp. (US), Integra Lifesciences Holdings Corp. (US), CSL Ltd. (Australia), Hemostasis LLC. (US), Pfizer Inc. (US), Cyrolife Inc. (US), Zimmer Biomet (US), Kuros Biosciences AG (Switzerland), Orthofix Medical Inc. (US), and Smiths & Nephew Plc. (UK).

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