Bio-surgery is a biological therapy that involves the introduction of live, sterilized worms into non-healing wounds of the skin and soft tissues of humans or animals. It helps to clean-out the necrotic tissue within wound & disinfection. Fibrin & collagen sealant, adhesion barriers, soft tissue attachments, hemostats, and bone morphogenetic proteins are among the widespread biosurgery products. Huge investment by governments has improved healthcare facilities; this is anticipated to expand the market significantly. Biosurgery has provided a pioneering prospective in regenerative healing with right combination of synthetics & biologics. The emergence of versatile products, resulting from intensive research by large life sciences companies, paved the way for lucrative prospects in the biosurgery market. Healthcare players are actively focusing on driving new market prospects through the development of new biomaterials.
As per analysis, “North America Biosurgery Market 2020-2027 by Product, Source Type (Natural, Synthetic), Application (Orthopedic, General, Neurological, Cardiovascular), and Country: Trend Outlook and Growth Opportunity” few of the renowned players operating in the North-America biosurgery market include Medtronic PLC, Hemostasis LLC, Stryker Corporation, Johnson & Johnson, Sanofi S.A., Betatech Medical, Integra Lifesciences Holdings Corporation, Pfizer, Inc., Johnson & Johnson, CSL Limited, Becton, Dickinson and Company (C.R. Bard), B. Braun Melsungen AG, CryoLife Inc., Baxter International, Inc and among others.
In terms of product type, the bone graft substitutes segment dominates the market as they are alternative products to autografts and also possess osteoconductive properties. Additionally, in terms of application, general surgery segment is predicted to grow at higher CAGR during the forecast period caused by increase in surgical procedures for treatment of various diseases involving the skin, hernias and soft tissues. Furthermore, surgeries of the abdomen, oesophagus, bowel, stomach, colon, liver, pancreas, gallbladder & bile ducts, and urological, reconstructive, and hernia-repair surgeries are involved in the general surgery segment.
Growth in technological advancements in development of high-efficiency products, followed by increase in volume of surgeries, rise in per capita healthcare spending and prevalence of advanced healthcare infrastructure are some major factors, which are responsible for growth of the North-America biosurgery market. However, high cost associated with advanced technologies used in biosurgery and stringent regulatory approval processes are major hindering factors for market. Moreover, increase in research & development (R&D) investment and aggressive market-strategies adopted by market players are leading opportunities for market.
North America dominates the biosurgery market in terms of the largest number of shares, and this region is estimated to maintain its dominance throughout the forecast period because of availability of healthcare infrastructure. The region is experiencing remarkable growth due to easy access to advanced technology in the healthcare industry. Growth in geriatric population along with increase in number of surgical interventions continues to contribute to the growth of the regional market. Increasing prevalence of chronic diseases, particularly cardiovascular diseases & cancer, supports the demand for biosurgery in the regional market. It is predicted that future of the North-America biosurgery market will be bright owing to increase in prevalence of obesity & cardiovascular diseases coupled with growth in adoption of advanced surgical tools & devices during the forecast period.
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Ankur Gupta, Head Marketing & Communications