Biosurgery - Market Insights, Competitive Landscape, and Market Forecast - 2030

The global biosurgery market can be anticipated to grow at a CAGR of 9.23% during the forecast period of 2022-2027. The biosurgery market is witnessing a positive growth owing to various factors such as the increasing incidence of cardiovascular diseases, increasing demand of plastic surgery, the increasing incidence of cancers such as prostate cancer and surge in the biosurgery products launch in the market. Therefore, the market for biosurgery is estimated to grow during the forecast period from 2022 to 2027.

Biosurgery Market Dynamics:

As with the increasing incidence of cardiovascular diseases, the demand for biosurgery also increases. For instance, according to the latest data published by the British Heart Foundation in the year 2021, in 2019, in Asia, 32,376,834 people were affected with cardiovascular diseases, 12,543,833 individuals were diagnosed with coronary artery disease, and 8,111,044 population was detected with stroke. Thus, biosurgery products are used during the cardiovascular surgery, as they are safe, effective, prevent bleeding and initiate wound healing after the surgery. Therefore, the increasing incidence of cardiovascular diseases, can boost the demand of biosurgery, which could drive the overall biosurgery market forward over the forecast period (2022-2027).

Moreover, another key factor which is responsible for the growth of biosurgery market is the increasing demand of plastic surgery. For instance, according to the latest plastic surgery statistics report published in the year 2020, in America, out of 15.6 million of cosmetic operations, 2.3 million were cosmetic surgical procedures whereas 13.2 million cosmetic were minimally-invasive procedures. According to the source mentioned above, in 2020, reconstructive procedures were 6.8 Million (3% increase from 2019). Thus, increasing demand of plastic surgery, could boost the demand for biosurgery which in turn can provide a conductive growth environment for the biosurgery overall market.

Therefore, due to the aforementioned factors, biosurgery demand increases, which will surge the growth of the overall biosurgery market during the forecast period from 2022 to 2027.

However, rising cost of surgical procedures and complications related to surgical procedures such as infection, pain and others, this can hamper the global biosurgery market growth.

Additionally, the ongoing COVID-19 pandemic has significantly impacted the biosurgery market. There was a nationwide lockdown in almost every country, movement restrictions declined the number of hospital visits for elective surgeries and unavailability of the workforce at the production sites hampered the manufacturing rate of biosurgery products. However, due to spread of infection in the lungs by covid virus, it increased the demand of lung surgeries. Meanwhile, other elective surgeries were not given priority because COVID-19 patients were preferred more in terms of treatment. Moreover, according to the American Hospital Association 2020, between March and June 2020, hospitals in the United States lost an estimated USD 50.7 billion due to a decrease in "elective" treatments. According to the same research, these processes accounted for around 31% of net revenue in the United States on an average. However, with the masses being vaccinated, relaxation in the lockdown restrictions & the hospital visits of patients for elective surgeries as well as resumption of supply chains, logistics, and manufacturing units, the biosurgery can be expected to further grow during the forecast period.

Biosurgery Market Segment Analysis:

Biosurgery Market by Product Type (Sealant, Hemostat, Bone Graft Substitute, Adhesion Barriers, and Others), Application (Cardiovascular Surgery, General Surgery, Plastic Surgery, Orthopedic Surgery and Others), End-user (Hospitals and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the by-product type segment of the biosurgery market, hemostat is expected to hold a significant revenue share in the year 2021. The key attributes driving the growth of the biosurgery market includes, hemostats are developed to clamp small blood vessels for hemorrhage control, it is used to grasp & secure superficial fascia during undermining and debriding wounds. Moreover, this instrument is an excellent tool for exposing, exploring, and visualizing the deeper areas of a wound, hemostatic agent helps in the propagation of a more stable clot that is less prone to rupture during the moment of the casualty.

Furthermore, the key benefits associated with hemostats can increase the demand for biosurgery, which could drive the growth of the overall global biosurgery market during the forecast period. However, technological advancement and commercialization of biosurgery products also drives the market growth.

In July 2021, Medcura Inc, a medical device company, in partnership with ASO, LLC, a major U.S. manufacturer and supplier of first aid products, announced the launch of a high-performance, antibacterial hemostatic gel, Rapid-Seal®. It can be easily applied for irregular injuries where bandages could be inconvenient, as well as powders are messy & can cause discomfort.

In March 2020, Ethicon US LLC, a subsidiary of Johnson & Johnson Services Inc, announced the launch of SURGICEL® POWDER ABSORBABLE HEMOSTAT in Australia, New Zealand, as well as in Thailand. It is currently accessible in Singapore and Hong Kong. This development is a powdered adjunctive hemostat that aims to improve the effectiveness of disruptive bleeding control for surgeons.

Moreover, due to the interplay of the aforementioned factors, this can result in the rising demand for biosurgery, which in turn would provide a conducive growth environment for overall biosurgery market during the forecast period from 2022 to 2027.

North America is expected to dominate the overall Biosurgery Market:

Among all the regions, North America is expected to dominate the global biosurgery market in the year 2021 and is expected to do the same during the forecast period from 2022 to 2027. Factors such as the increasing incidence of cancers such as prostate cancer and surge in the biosurgery products launch in the market are expected to increase the demand for biosurgery in the North America market.

According to the latest data published by American Cancer Society, Inc. in the year 2022, it is estimated that in the year 2022, in United States, there will be 268,490 new cases of prostate cancer. Moreover, biosurgery products could be used to remove the prostate gland, as they are safe, effective, prevent bleeding and initiate wound healing after the surgery. Therefore, the increasing incidence of cancers such as prostate cancer, can boost the demand of biosurgery, which could drive the overall biosurgery market forward over the forecast period (2022-2027).

Furthermore, another factor that is responsible for the growth of biosurgery market is the surge in the biosurgery products launch in the market. For instance, in April 2021, Aroa Biosurgery, a soft tissue regeneration company, launched a new product named Myriad Morcells™, a morcellized (powder) format of Myriad Matrix™ which easily conforms to maximise interaction with uneven wound beds. Myriad Matrix™ is used during the surgical treatment of hidradenitis suppurativa, complex wounds and exposed vital structures.

In February 2020, Aroa Biosurgery, the Auckland-based privately held soft-tissue repair company, launched a large format version of its Endoform® Natural product in United States and Canadian markets, following its recent approval for reimbursement within the U.S. healthcare system. It is used to treat large surgical wounds with a single sheet of their extracellular matrix-based product.

Therefore, due to interplay of the factors mentioned above, there will be a higher demand for biosurgery, which would provide a conducive growth environment for the North American region in the biosurgery market.

Biosurgery Market Key Players:

Some of the key market players operating in the Biosurgery market include BD, Baxter, SAMYANG HOLDING CORPORATION, B. Braun Melsungen AG, Stryker, Integra LifeSciences, Hemostasis LLC, Biom’Up, Pfizer Inc, Ethicon US LLC (Johnson & Johnson Services Inc), CryoLife Inc, Zimmer Biomet, Kuros Biosciences, Orthofix US LLC, Tissue Regenix, Betatech Medical, Meril Life Sciences Pvt. Ltd, RTI Surgical, AROA BIOSURGERY LIMITED, BioCer Entwicklungs-GmbH, among others.

Recent Developmental Activities in the Biosurgery:

• In February 2022, Gunze Limited, announced that it has received medical device approval to manufacture and sell TENALEAF™, the first sheet-type absorbable adhesion barrier made in Japan. During open surgery and minimally invasive surgery, this device gives surgeons a new choice that can facilitate simple manipulation, provide a modest amount of adhesive strength for repositioning, and allow for conformable insertion.
• In December 2021, BD, a global medical technology company, announced that it has acquired Tissuemed, Ltd., a privately held company which has headquarter in Leeds, England it is an industry leader in developing self-adhesive surgical sealant films. Tissuemed's lead product, Tissuepatch™, is a proprietary sealant technology that bonds to tissue to help control internal bleeding or stop leakage from surgical wounds.
• In February 2022, Baxter International Inc, a leading global medical products company, announced acquisition of Seprafilm Adhesion Barrier which is used as an adjunct to limit the incidence, extent & severity of adhesions in certain pelvic and abdominal surgeries.

Key Takeaways from the Biosurgery Market Report Study:

• Market size analysis for current biosurgery market (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the biosurgery market
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global biosurgery market.
• Various opportunities are available for the other competitor in the biosurgery market space.
• What are the top-performing segments in 2021? How these segments will perform in 2027.
• Which are the top-performing regions and countries in the current biosurgery market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for biosurgery market growth in the coming future?

Target Audience who can be benefited from this Biosurgery Market Report Study:

• Biosurgery providers
• Research organizations and consulting companies
• Biosurgery-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in biosurgery
• Various End-users who want to know more about the biosurgery market and latest technological developments in the biosurgery