Biosurgery Global Market Report 2023
Major players in the biosurgery market are Baxter International Inc., B. Braun SE, Becton, Dickinson and Company, Hemostasis LLC, Integra LifeSciences Corporation, Medtronic Plc, Johnson & Johnson Services Inc.
New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biosurgery Global Market Report 2023" - https://www.reportlinker.com/p06457497/?utm_source=GNW
, Stryker Corporation, CSL Limited, Pfizer Inc., CryoLife Inc., Aroa Biosurgery Limited, Tissue Regenix, Smiths & Nephew Plc., C.R. Bard, Zimmer Biomet, Kuros Biosciences AG, and Orthofix Medical Inc.
The global biosurgery market is expected to grow from $12.97 billion in 2022 to $14.10 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biosurgery market is expected to reach $18.83 billion in 2027 at a CAGR of 7.4%.
The biosurgery market consists of revenues earned by entities by providing biosurgery services such as maggot therapy, transplantation, and autologous chondrocyte implantation.The market value includes the value of related goods sold by the service provider or included within the service offering.
The biosurgery market also includes sales of absorbable hemostats and surgical sealants which are used in providing biosurgery services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Biosurgery refers to the practice of using live maggots to remove dead tissue from wounds, reduce the risk of infection, and hasten wound healing. It primarily consists of semi-synthetic, synthetic, or natural materials that aid in the healing of surgical incisions and the restoration of tissue.
North America was the largest region in the biosurgery market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main biosurgery products are bone-graft substitutes, soft-tissue attachments, hemostatic agents, surgical sealants and adhesives, adhesion barriers, and staple line reinforcement.The bone graft substitute refers to natural, synthetic, or composite materials that are used to fill up bone deficiencies and encourage bone repair.
Natural or biologic products and synthetic products are the major sources included. These are used in several applications such as orthopedic surgery, general surgery, neurological surgery, cardiovascular surgery, gynecological surgery, and others, and are used by major end-users, such as hospitals, clinics and others.
The increase in the prevalence of chronic disease is expected to propel the growth of the biosurgery market going forward.Chronic disease refers to health problems that persist for a year or longer and necessitate continuing medical care, restricting everyday activities, or both.
The main causes of death and disability in the US are chronic diseases like diabetes, cancer, and heart disease.Biosurgery is used to eliminate dead tissue, lower the risk of infection, and speed up the healing process for chronic wounds.
For instance, in September 2020, according to a study report issued by American Action Forum, chronic illness frequency and expenses are increasing in the United States.Chronic illness is anticipated to continue increasing as the illness incidence among children and young people increases.
Chronic illness is a significant healthcare issue since it costs the US $3.7 trillion annually, or about 19.6% of the GDP, and is rising. Therefore, the increase in the prevalence of chronic disease is driving the growth of the biosurgery market.
Product innovations have emerged as the key trend gaining popularity in the biosurgery market.Major companies operating in the biosurgery market are developing product innovations to strengthen their position in the market.
For instance, in April 2021, Aroa Biosurgery, a New Zealand-based manufacturer of medical and surgical products, launched Myriad Morcells™, a Myriad Matrix™ morcellized (powder) configuration that easily adapts to improve interaction with uneven wound beds.It provides a burst of biologically significant ECM proteins in a format that fits the specifics of a wound in order to ’kick start’ healing.
A multi-layered extracellular matrix (ECM) graft with a high volume and surface area that has interstitial spaces that are quickly and easily accessible to cells is called Myriad MatrixTM. It makes use of the Aroa ECM™ bioscaffold technology, which incorporates crucial secondary chemicals and lingering vascular channels to assist the formation of new tissue.
In December 2021, Becton, Dickinson (BD) and Company, a US-based medical technology company, acquired Tissuemed Ltd. for an undisclosed amount. Through this acquisition, BD would be able to further strengthen Tissuemed’s position as a leader in the rapidly expanding global market for sealant technology. Tissuemed is a UK-based medical technology company that develops tissue-based therapeutic devices and bioadhesive films that are used in biosurgery.
The countries covered in the biosurgery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The biosurgery market research report is one of a series of new reports that provides biosurgery market statistics, including biosurgery industry global market size, regional shares, competitors with a biosurgery market share, detailed biosurgery market segments, market trends and opportunities, and any further data you may need to thrive in the biosurgery industry. This biosurgery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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