The global biosurgery market is evaluated at US$12.11 billion for the year 2022, increasing at a CAGR of 6.70% to reach the market size of US$19.08 billion by the year 2029.
The global biosurgery market comprises certain products used to minimize or reduce intra- and post-surgery complications. Biosurgery products offer more efficiency and less complexity in surgery and other medical procedures. Depending on the types of products, the biosurgery market is segmented into certain types, such as hemostatic, anti-adhesive agents, surgical sealing agents, and bone graft substitutes.
The rising number of surgery cases and increasing geriatric population is giving potential to the market growth of global biosurgery products. The population aged 65 and above or the geriatric population is widely using the help and assistance of biosurgery products. The wide application of biosurgery products in medical and surgical procedures in the geriatric population raises the demand for biosurgery products in the global market. The rising cases of surgery and operation procedures due to chronic diseases and sports surgeries are also driving the global biosurgery market growth.
The higher investments by major companies in the research and development section of biosurgery products also result in major developments and advancements in these products. The government's support of new advanced research and developments in biosurgery products is also boosting the global biosurgery products market. The growth and adaptation of technology in the medical field increase the global biosurgery market.
Increasing research and development programs would bolster market growth.
The higher investments by major players or companies in the research and development sector of biosurgery products are boosting the global biosurgery market growth. The penetration of technology or electronics in the field of biosurgery has boosted the global biosurgery market growth to a certain extent. The development of advanced infused bone graft implantation developed by Medtronic PLC can be considered one of the rising developments in the field of bone graft implantation or biosurgery products.
The approval of the FDA (U.S Food and Drug Administration) for the newly developed bone graft implantation also shows the immense support of governmental agencies in the development of biosurgery products. The synthetic hydrogel technology developed by Kuros Biosurgery can also be counted as one of the major developments in the global biosurgery market.
The rapid growth in the research and development sector of biosurgery products is fuelling the global biosurgery market growth. The increased penetration of electronics and new technology in the medical field also resulted in new advancements and developments in the global biosurgery market. The higher competition of major players in the research and development sector of biosurgery products contributes to the rapid growth of biosurgery products in the global market.
A rising number of surgeries & cases of chronic diseases is anticipated to surge the biosurgery demand.
The rising number of surgeries and the increasing number of people with chronic diseases is one of the major factors driving the global biosurgery market growth. The convenience and effectiveness offered by biosurgery products result in the market growth of biosurgery products. The increasing cases of chronic diseases are contributing to the global biosurgery market growth.
The rising cases of cardiovascular diseases (CVDs) and the implementation of biosurgery products in surgeries and treatment of CVDs are giving potential to the global biosurgery market growth. The surgeries and implantations in CVDs are the major sections that widely employ the application of biosurgery products in the medical field. The rising percentage of the geriatric population is also one of the major driving factors in the global biosurgery market growth.
The report of the United Nations states that approximately 962 million people are aged 60 or above in the world. The population growth rate of people above 60 is also reported to be 3% annually. The rise in the geriatric population and increasing cases of lifestyle and chronic diseases are fuelling the global biosurgery market growth.
Geographically, the North American region is expected to lead the global biosurgery market in the forecasted years. The rising cases of chronic and lifestyle diseases and obesity problems are driving the biosurgery market growth in this region. The presence of major players and the investment in research & development of biosurgery products are also hiking the market of biosurgery products in the North American region.
North America is expected to lead the global biosurgery market due to its advanced healthcare infrastructure, technological advancements, high healthcare expenditure, favorable regulatory environment, increasing prevalence of chronic diseases, strong presence of key market players, clinical research and academic collaboration, and early adoption of advanced surgical techniques.
The United States and Canada have state-of-the-art medical facilities, research institutions, and a network of healthcare professionals, providing a conducive environment for the biosurgery market growth. The region's high healthcare expenditure levels, stringent FDA standards, and increasing prevalence of chronic diseases necessitate advanced surgical interventions, thereby boosting the demand for biosurgery solutions in North America. The region's readiness to embrace these advancements positions it at the forefront of the global biosurgery market.
March 2022- Molecular Matrix, Inc. (MMI) launched its Osteo-P® Synthetic Bone Graft Substitute (BGS) for use in the musculoskeletal system. The technology uses MMI's hyper-crosslinked carbohydrate polymer (HCCP) platform, designed to optimize bone repair and regeneration. Osteo-P® BGS available in granule, cube, and strip configurations and represents an evolution in bone grafting from traditional materials like calcium phosphate and bioactive glass. Its natural matrix doesn't require a collagen xenograft for better handling and offers real-time healing visualization through radiographic observation of calcium phosphate deposition.
February 2022- Gunze Limited obtained medical device approval to manufacture and sell TENALEAF™, the first sheet-type absorbable adhesion barrier made in Japan. The product, developed by Gunze using proprietary absorbable material technology, aims to reduce postoperative organ adhesions and improve patient outcomes during open and minimally invasive surgeries. The device allows easy manipulation, moderate adhesive strength for repositioning, and conformable placement, making it an innovative solution for surgeons in the growing field of laparoscopic surgery.
| Report Metric | Details |
|---|---|
| Total Market Size in 2022 | USD 12.11 billion |
| Total Market Size in 2029 | USD 19.08 billion |
| Forecast Unit | Billion |
| Growth Rate | 6.70% |
| Study Period | 2017 to 2029 |
| Historical Data | 2017 to 2020 |
| Base Year | 2021 |
| Forecast Period | 2022 – 2029 |
| Segmentation | Product Type, Application, Source, Geography |
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies |
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