Biosurgery Global Market Report 2024

The biosurgery market size has grown strongly in recent years. It will grow from $14.01 billion in 2023 to $15.18 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The expansion witnessed during the historical period can be linked to the upsurge in surgical interventions, escalation of chronic ailments, the expanding demographic of elderly individuals, a trend favoring biodegradable products, alterations in regulations, and the reception of approvals.

The biosurgery market size is expected to see strong growth in the next few years. It will grow to $20.87 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The projected expansion in the upcoming period can be credited to progress in tissue engineering, an increase in minimally invasive techniques, a concentrated effort on regenerative medicine, a transition towards biologics, and the evolving needs of an aging population. Key trends anticipated in the forecast period encompass the surge in minimally invasive procedures, an uptick in cosmetic and plastic surgeries, a heightened focus on stem cell therapies, advancements in wound care, and the evolution of biodegradable products.

The biosurgery market is poised for growth, primarily driven by the increasing prevalence of chronic diseases. Chronic diseases, lasting for a year or longer and requiring ongoing medical care, significantly impact individuals' health, restricting daily activities. In the U.S., chronic diseases such as diabetes, cancer, and heart disease are leading causes of death and disability. Biosurgery plays a crucial role in managing chronic wounds by eliminating dead tissue, reducing infection risk, and expediting the healing process. For example, in March 2022, the Australian Bureau of Statistics reported that 78.6% of Australians suffered from at least one chronic illness, affecting over half of the population. The rise in chronic diseases is a key factor propelling the growth of the biosurgery market.

A significant factor contributing to the growth of the biosurgery market is the increase in the number of accidents. Accidents, unforeseen events causing harm or injury, occur in various settings such as daily life, workplaces, transportation, and sports. Biosurgery is utilized in accident scenarios to mitigate blood loss, facilitate effective coagulation, and promote wound healing in traumatic situations, injuries, or surgical operations. In 2022, the Department of Infrastructure, Transport, Regional Development, and Communications in Australia reported 1,194 fatal traffic accidents, indicating a 5.8% increase over the previous year. The growth in accident numbers is driving the adoption of biosurgery for effective wound management.

A notable trend in the biosurgery market is the emphasis on product innovations by major companies to strengthen their market position. For instance, Aroa Biosurgery, a New Zealand-based manufacturer of medical and surgical products, introduced Myriad Morcells in April 2021. Myriad Morcells, a Myriad Matrix morcellized (powder) configuration, enhances interaction with uneven wound beds. It delivers biologically significant extracellular matrix (ECM) proteins to kick-start the healing process. Myriad Matrix, a multi-layered ECM graft with high volume and surface area, leverages Aroa's ECM bioscaffold technology, incorporating essential secondary chemicals and persistent vascular channels to support the formation of new tissue. Product innovations such as these contribute to the competitiveness and growth of companies in the biosurgery market.

Prominent companies in the biosurgery market are increasingly adopting a strategic partnership approach to enhance their capabilities and expand their market presence. Strategic partnerships involve leveraging the strengths and resources of collaborating companies for mutual benefits and success. In a notable example, Biocomposites Ltd., a UK-based manufacturing company specializing in calcium compound solutions for bone and soft tissue regeneration and repair, entered into an agreement with Zimmer Biomet Holdings Inc. in March 2022. Under this agreement, Biocomposites exclusively sells genex Bone Graft Substitute in the US orthopedic market. Genex Bone Graft Substitute is a biphasic composite with excellent purity, precisely developed to balance osteoconductive scaffold toughness and persistence in the body, facilitating optimal bone architecture rebuilding. The partnership includes enhancements for the US market, incorporating a new closed-mixing method to save preparation time and extend working time. It also offers a broader range of delivery options, enabling surgeons to inject, shape, or prepare beads according to their preferred approach.

In December 2021, Becton, Dickinson (BD) and Company, a US-based medical technology company, acquired Tissuemed Ltd., for an undisclosed amount. This acquisition enables BD to strengthen Tissuemed's position as a leader in the rapidly expanding global market for sealant technology. Tissuemed, based in the UK, is a medical technology company specializing in the development of tissue-based therapeutic devices and bioadhesive films used in biosurgery. Through strategic partnerships and acquisitions, major companies are actively shaping the landscape of the biosurgery market, ensuring competitiveness and a broader reach in the evolving healthcare landscape.

Major companies operating in the biosurgery market report are Baxter International Inc., B. Braun SE, Becton, Dickinson and Company, Hemostasis LLC, Integra LifeSciences Corporation, Johnson & Johnson Services Inc., CryoLife Inc., CSL Limited, Pfizer Inc., Zimmer Biomet Holdings Inc., Kuros Biosciences AG, Orthofix Medical Inc., Smiths & Nephew plc, Medtronic plc, Stryker Corp., Cyrolife Inc., Betatech Medical, Tissue Regenix Group plc, Aroa Biosurgery Ltd., Anika Therapeutics Inc., Arthrex Inc., B Braun Surgical SA, Biom'Up SA, Boston Scientific Corporation, Coloplast Corp., Cook Medical Inc., Endo International plc, Genzyme Corporation, Takeda Pharmaceutical Company Limited, Cerus Corporation.

North America was the largest region in the biosurgery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the biosurgery market report during the forecast period. The regions covered in the biosurgery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biosurgery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Primary biosurgery products include bone-graft substitutes, soft-tissue attachments, hemostatic agents, surgical sealants and adhesives, adhesion barriers, and staple line reinforcement. Bone graft substitutes are materials, natural or synthetic, used to fill bone voids and facilitate bone mending. These products stem from natural or biological sources as well as synthetic origins. They find application in orthopedic, general, neurological, cardiovascular, gynecological surgeries, and others, catering to end-users such as hospitals, clinics, and similar facilities.

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.

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.


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