The biosurgery market is expected to reach USD 15.58 billion by 2023 from USD 11.36 billion in 2018, at a CAGR of 6.5%. The global biosurgery market is driven by the rising geriatric population, increasing volume of surgeries and sports-related and trauma injuries, increasing clearance of biosurgery products by regulatory authorities, and growing need for effective blood loss management in patients.
Biosurgery products are used to aid surgeries and repair weakened and damaged tissues and bones. Some commonly used biosurgery products include surgical sealants and adhesives, hemostatic agents, adhesion barriers, soft-tissue attachments, bone-graft substitutes, and staple line reinforcement agents. These products are intended to control blood loss, aid wound healing, and assist the healing of surgical sites during various surgeries.
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The biosurgery market has been segmented, on the basis of product into bone-graft substitutes, soft-tissue attachments, surgical sealants and adhesives, hemostatic agents, adhesion barriers, and staple-line reinforcement agents. The market for surgical sealants and adhesives is expected to grow at the highest CAGR between 2018 and 2023 The increasing demand for polymeric hydrogel-based sealants contribute to the rapid growth of the market.
The biosurgery market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is the fastest-growing market for biosurgery products. The rising healthcare expenditure, growing volume of surgical procedures, and rising need for effective blood loss management, has increased the growth of biosurgery market in this region. The increasing penetration of biosurgery products and the influx of global players, along with the emergence of native players, are contributing to the growth of the market. As a result, APAC holds a significant share of the overall biosurgery market.
Key players in the market include Baxter (US), Johnson & Johnson (US), and Medtronic (Ireland), Sanofi (France), C.R. Bard (US), Integra LifeSciences (US), MAQUET (Sweden), Cohera Medical (US), Hemostasis (US), Stryker (US), B.Braun (Germany), CSL (Australia), Pfizer (US), and CryoLife (US). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and prducts in the market.
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