Bio Surgery Market Advanced TECH & growth opportunities in global Industry by 2024
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The bio surgery market can be classified on the basis on product, application, source of the bio surgery product, and geography. Based on the product, the bio surgery market is segmented into sealants (natural sealants, fibrin sealants, surgical sealants and collagen matrix), hemostatic products, adhesion prevention products, soft tissue repair products (surgical mesh, polymeric screens, and repair patches), bone graft substitutes (demineralized bone matrix (DBM), bone morphogenetic proteins (BMP) and synthetic bone graft extenders), and staple line reinforcement products.
The bio surgery market, based on the applications, can be segmented into neurological surgeries, cardiovascular surgeries, orthopedic surgeries, spinal surgeries, thoracic surgeries, gynecologic surgeries, urological surgeries, and reconstruction surgeries. In addition the market can be classified on the basis of the source into natural bio surgery products and synthetic bio surgery products. Based on the geography, the bio surgery market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The bio surgery market is mainly driven by increasing number of various surgeries owing to several lifestyle disorders and increasing obesity. In addition, growth in the sports and spine related injuries, aging population are the major drivers for the bio surgery market. Furthermore, the strong focus on research and development (R&D) leading to the launch of various new products into the market and technological advancements (multi-usage products) would significantly contribute to the market growth. However, increasing costs of surgeries, rising demand for minimally invasive or non-invasive surgeries, stringent regulations by various government agencies, and reimbursement policies would negatively impact the bio surgery market. In addition, the non-acceptance of certain products such as human tissue for regenerative purposes due to ethical concerns in certain parts of the world such as Europe might impact product sales in the bio surgery market.
Sealants and the hemostatic products are the widely employed bio surgery products in the market. In terms of geography, North America had the largest share in the bio surgery market followed by Europe due to the increasing obesity related surgeries and other spinal and sports related surgeries. However, the growth is expected to be stagnant in the North American regions and weak in the Euro zone countries. The emerging markets in Asia Pacific, Latin America and the Middle East and Africa are expected to record strong growth during the forecast period due to the increase in the investments by the private and public players in these countries, growing healthcare industry, and increase in the aging population leading to the growth in the patient population in these countries. India, China and Brazil are expected to drive strong growth among the emerging countries, owing to the increasing investments by the government to enhance the healthcare facilities.
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The leading players in the bio surgery market include Baxter International Inc., C.R. Bard (Davol), Johnson & Johnson (Ethicon), Sanofi Group (Genzyme), B. Braun Melsungen AG, Atrium Medical Corporation (Atrium Biosurgery), Stryker Corporation, Hemostasis, LLC, Medtronic plc, and Kuros Biosciences AG.
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