Top Facts You Didn’t Know About Biosurgery market & Impact of COVID-19

Posted by Mrudula Anil Karmarkar on February 15th, 2021

Biosurgeries have proved effective in a number of application areas, such as orthopedic, cardiovascular, and neurological surgeries. With the increasing prevalence of disorders among the global population, owing to factors such as unhealthy lifestyle, it is expected that the biosurgery industry will have a healthy demand over the coming years.

The global biosurgery market size is projected to reach USD 20.1 billion by the year 2026, advancing at a CAGR of 7.1% during the forecast period, as per a report by Grand View Research, Inc. Biosurgery products find application in surgical procedures for the purpose of adhesion or wound sealing, as well as healing damaged tissues and bones. A basic treatment principle is the use of maggots or larvae for preventing infection of wounds, or delayed healing. Biosurgery products are used for the treatment of chronic wounds, such as burns, foot ulcer, malignant wounds, and infected surgical wounds.

With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.

Factors such as the availability of multifunctional products in the industry and the increasing number of surgeries due to growing prevalence of lifestyle related diseases and sports related injuries are projected to drive the growth. Additionally, increasing cases of blood clotting observed among patients prone to excessive blood loss has fast-tracked the need for efficient blood loss management methods, which is expected to drive the market growth. Furthermore, the growing prevalence of severe trauma injuries is another factor expected to aid market development over the coming years. As per the CDC, blood clot is the cause of death for 100,000 people every year, which makes it imperative for medical facilities to establish innovative surgery techniques to prevent these fatalities.

The global biosurgery market has been broadly segmented on the basis of product and application. With regards to product, the market comprises surgical sealants, hemostatic agents, adhesion barriers, soft tissue attachments, and bone graft attachments, among others. On the basis of application, the market is classified into general surgery, cardiovascular surgery, orthopedic surgery, and neurological surgery, among others. The major global industry players include Johnson & Johnson, Baxter, Medtronic, Pfizer, Sanofi, B. Braun Melsungen, Stryker, and Integra LifeSciences Corporation.

Biosurgery Market Report Highlights

• The increased prevalence of diabetes raises the risk of related infections and wounds, such as diabetic foot ulcer, with the American College of Physicians stating that the global annual incidence of the disorder was 6.3% in 2017. This has been projected to increase the demand for biosurgery globally.
• ·The continued growth in geriatric population is expected to provide numerous growth opportunities to the industry. As per the WHO, the global population aged 60 years or more is expected to hit 2 billion, which is expected to intensify the requirement of surgical procedures over the coming years
• ·The current situation of the coronavirus pandemic across the globe has led to a drastic reduction in surgeon and physician visits for people suffering from chronic diseases. Biosurgery is expected to witness sharp industry growth in this period, as it reduces number of patient visits and is economical, while also proving to be time-saving for healthcare professionals
• ·Based on product, the surgical sealant held the largest market share in 2018, on account of the growing prevalence of sports related injuries, coupled with increase in the number of surgeries performed globally
• ·In terms of application, the general surgery segment held the largest market share in 2018, while the cardiovascular surgery segment is expected to register the fastest CAGR through 2026. As per the WHO, CVDs accounted for 31% of the total global mortality in 2016 (17.6 million people), which projects as an avenue for market growth for biosurgery
• ·North America held the largest market share in 2018, owing to favorable reimbursement policies, local presence of key market players, and supportive government initiatives
• ·The market is characterized mainly by new product launches, and mergers and acquisitions by the major players. For example, in June 2019, Ethicon, a Johnson & Johnson subsidiary, announced FDA clearance for its Vistaseal applicators for utilization during open or laparoscopic surgical procedures

Biosurgery is also known as maggot therapy or larva therapy. These maggots or larvae are used to heal chronically infected wounds, which are resistant to antibiotics. Biosurgery with maggot debridement therapy has also proven effective for diabetic patients. High prevalence of diabetes and spinal injuries is anticipated to propel the demand for biosurgery in the forthcoming years. In addition, biosurgery is also beneficial in orthopedic, neurological, and gynecology surgeries, fueling product demand.

Rising demand for minimally invasive surgery coupled with a continual rise in the aging population with chronic conditions is expected to drive the biosurgery market. Products used for biosurgery reduce the risk associated with tissue contamination, which in turn is expected to drive their demand. Furthermore, effective measures for blood loss during surgeries are expected to propel the adoption of these procedures during the forecast period.

Have a Query? Ask Our Expert:

https://www.grandviewresearch.com/inquiry/6695/ibb

Biosurgery Market Segmentation

Grand View Research has segmented the global biosurgery market report on the basis of product, application, and region:

Biosurgery Product Outlook (Revenue, USD Million, 2015 - 2026)

• Surgical Sealants
• Hemostatic Agents
• Adhesion Barriers
• Soft Tissue Attachments
• Bone Graft Attachments
• Others

Biosurgery Application Outlook (Revenue, USD Million, 2015 - 2026)

• General Surgery
• Orthopedic Surgery
• Cardiovascular surgery
• Neurological Surgery
• Others

Biosurgery Regional Outlook (Revenue, USD Million, 2015 - 2026)

• North America

o   U.S.

o   Canada

• Europe

o   Germany

o   U.K.

o   France

o   Italy

o   Spain

• Asia Pacific

o   Japan

o   China

o   India

o   Thailand

o   South Korea

• Latin America

o   Brazil

o   Mexico

o   Argentina

o   Colombia

• Middle East & Africa

o   South Africa

o   Saudi Arabia

o   UAE

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com