The global biosurgery market is evaluated at US$12.114 billion for the year 2022, increasing at a CAGR of 6.70% to reach the market size of US$19.077 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.
Market Drivers:
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.
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.
North America region is expected to lead the market.
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.
Key Developments:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2022 | US$12.114 billion |
| Market Size Value in 2029 | US$19.077 billion |
| Growth Rate | CAGR of 6.70% |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2023 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered | |
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Segmentation: