Biosurgery Market is Projected to Reach an Estimate of $27,324.80 Million by 2030, With CAGR of 9.1%: Allied Market Research
Allied Market Research
5 min read
Allied Market Research
The global biosurgery market is experiencing growth due to various factors such as an increase in the prevalence of chronic disease, a surge in the number of surgical procedures, and a strong emphasis on research and development activities, resulting in the launch of novel and innovative products.
Wilmington, Delaware, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Allied Market Research released a report, titled, "Biosurgery Market by Product Type (Mesh, Anti Adhesive Agents, Hemostatic and Surgical Sealant, Bone Graft Substitutes), by Application (Orthopedic Surgery, Cardiovascular and Thoracic Surgery, General Surgery, Neuro and Spine Surgery), by Source (Synthetic Products and Biologics Products): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global biosurgery industry is projected to reach $27,324.80 million by 2030, having witnessed a value of $11,425.49 million in 2020, with a compound annual growth rate (CAGR) of 9.1% from 2021 to 2030.
The global biosurgery market is experiencing growth due to various factors such as a growth in the prevalence of chronic disorder, an increase in the prevalence of surgical procedures, and a robust emphasis on research and development activities, resulting in the launch of new and advanced products. However, the high cost of the products and the need for strict regulations limits the biosurgery market. Moreover, the growth in the number of surgeries, and the rise in the number of sport-related injuries create prolific opportunities for market growth.
The mesh segment to retain its dominance throughout the forecast period-
On the basis of product type, the mesh segment held the major market share in 2020, conserving more than one-third of the global biosurgery market revenue, and is predicted to retain its dominance throughout the forecast period. The growing number of surgical procedures, consisting of cardiovascular and general abdominal surgical treatment, increases the need for anti-adhesives.
Recent Developments in the Biosurgery Market
In April 2023, Olympus a medical technology company has launched its EndoClot Adhesive (ECA) EndoClot Polysaccharide Hemostatic Spray (PHS), and EndoClot Submucosal Injection Solution (SIS) in the Europe, Africa, and Middle East region.
In July 2023, Baxter International Inc., one of the global leader in surgical innovation has launched its PERCLOT an absorbable hemostatic powder in the U.S. for the coagulation of mild bleeding. The launch of PERCLOT will help the company to expand its advanced surgery portfolio.
In December 2021, Becton, Dickinson and Company, a global leader in medical technology has acquired Tissuemed, Ltd. This acquisition will help the company to expand its surgical product portfolio.
In April 2021, Arora announced the FDA clearance for Myriad Morcells, to optimize the contact with irregular wound beds.
In February 2020, Integra Lifesciences Holding Corporation has launched its AmnioExcel Plus Placental Allograft Membrane, which is used to support soft tissue repair.
The neuro and spine surgery segment to maintainits lion's share throughout the forecast period-
By application, the neuro and spine surgery segment held the major market share in 2020, holding nearly two-fifths of the global biosurgery market revenue, and is projected to maintain its lion's share throughout the forecast period. On the other hand, the general surgery segment would display the fastest CAGR of 10.2% from 2021 to 2030. This is because of the rise in the number of surgeries, the increase in idle lifestyle, and the growth in the geriatric population.
North America garnered the major share in 2030-
By region, North America held the major market share in 2020, garnering nearly two-fifths of the global biosurgery market revenue, and is likely to dominate the market by 2030. This is due to an increase in chronic disease, a rise in the quantity of surgeries performed, the emergence of key players in the manufacturing of biosurgery products, and growth in research and development (R&D) activities in the healthcare industry.
The report offers a comprehensive overview of the leading players in the global biosurgery market. These players have employed various strategies, including the launch of new products, geographical expansion, partnerships, collaborations, and agreements, to expand their market presence and remain dominant in various regions. The report represents the top segments, product portfolio, business performance, and strategic actions of market participants to emphasize the competitive landscapes.
Comprehensive Healthcare Industry Research Studies: -
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