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Biosurgery Market Expected to Reach $27.3 Billion by 2030—Allied Market Research

 
2022
Biosurgery Market

Report Code : A01044

quote “Alarming rise in prevalence of chronic diseases, advancements in the medical device sector, rise in demand for biosurgery products, and increase in number of sports-related surgery are expected to notably contribute toward the growth of the global biosurgery market during the forecast period.” quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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The biosurgery market was valued at $11.4 billion in 2020, and is estimated to reach $27.3 billion by 2030, growing at a CAGR of 9.1% from 2021 to 2030.Biosurgery is defined as a surgical technique, which is used to reduce intra- and post-operative complications by facilitating hemostasis and tissue sealing. It offers application in hard tissue regeneration in orthobiologics. Bio-surgery products contain primarily semi-synthetic, synthetic, or natural materials that help is sealing surgical incisions. They also control loss of blood for various surgical conditions, such as cardiovascular surgery, gynecology surgery, and orthopedic surgery. 
Factors that drive growth of the global biosurgery market size include, rise in demand for surgical procedure, advancements in the medical device industry, and surge in demand for biosurgery products. In addition, rise in prevalence of chronic diseases contributes toward the growth of the global biosurgery market. Market players focus on manufacturing of different biosurgery products to offer better outcome after surgical procedures. Moreover, increase in prevalence of geriatric population and surge in need for blood loss management system accelerate the biosurgery market growth. 
Moreover, rise in disposable income and development of R&D activities for manufacturing advanced biosurgery products are anticipated to drive the growth of the biosurgery market share. Rise in sedentary lifestyle and increase in number of sports-related injuries and surgeries, surge the need for biosurgery products, and surge the demand for biosurgery industry. These are the key factors that boost growth of the biosurgery market size. 

Post-surgical adhesions are common in almost all surgical areas and are associated with significant rates of morbidity, mortality, and increased healthcare costs, especially when a patient requires repeat operative interventions. According to an article published in the National Library of Medicine, in August 2021, it was reported that, around 6% to 17% of all coronary artery bypass and valve surgeries are reoperations. The biosurgery market is segmented on the basis of product type, application, source, and region. Depending on product, the market is divided into anti-adhesive agents, hemostatic agents, surgical sealants, bone graft substitutes, and mesh. The bone graft substitutes segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to surge in demand for bone graft substituent product and increase in number of sports injuries and surgeries. Depending on application, the market is divided into thoracic, neuro and spine surgery, orthopedic surgery, and general surgery. The neuro and spine surgery segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in prevalence of neurological disorder.
Depending on source, the market is divided into biologics products, and synthetic products. The biologics products segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in demand for natural products and rise in technological development in pharmaceutical sector.

North America garnered a major share of the biosurgery market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of chronic disease, increase in number of surgery, and presence of key players for manufacturing biosurgery products, and development in R&D activities in healthcare sector.  However, Asia-Pacific is expected to register highest CAGR of 10.2% from 2021 to 2030 owing to increase in number of geriatric population, rise in number of sport related surgery and injury, and increase in demand for biosurgery products.

The COVID-19 outbreak negatively impacted growth of the global biosurgery market. The COVID-19 pandemic stressed healthcare systems across the globe. The soft tissue orthopaedic and urogynecology procedure is profoundly affected by the COVID-19 pandemic. A number of clinics and hospitals were restructured to increase hospital capacities for patients diagnosed with COVID-19. Implementation of lockdown, owing to the COVID-19 outbreak resulted in decline in number of patient visits for other diseases, such as cancer and diabetes, during the pandemic. For instance, in 2021, Tissue Regenix Group, a medical technology company, reported that approximately 22% of biosurgery revenue decreased due to cancellation of elective surgical procedures. 

Key Findings of The Study 
•    On the basis of product type, the bone graft substitutes segment was the highest contributor to the market in 2020, and is expected to continue this trend during the biosurgery market forecast period.
•    On the basis of application, the neuro and spine surgery segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
•    On the basis of source, the biologics product segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
•    Region-wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

 

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quote Biosurgery Market By Product Type (Anti Adhesive Agents, Bone Graft Substitutes, Hemostatic And Surgical Sealant, Mesh), By Application (Cardiovascular And Thoracic Surgery, Neuro And Spine Surgery, Orthopedic Surgery, General Surgery), By Source (Biologics Products, Synthetic Products): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

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