Biosurgery Market, Trends, Innovation, Drivers, Analysis by 2024
Posted by Yash Chauhan on March 1st, 2019
The global biosurgery market is growing at significant rate, due to expanding geriatric population and mounting number of surgeries. Different product and services contributed to the biosurgery market size. The market has witnessed high demand for bone-graft substitutes in the coming years due to mounting usage of bone-graft substitutes in various types of orthopedic surgeries as they decrease surgical time.
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Mounting number of surgeries, mounting prevalence of severe trauma injuries, escalating sports related injuries and robust emphasis on R&D for the launch of novel and innovative products are the primary growth drivers for biosurgery market. For instance, according to American Society of Plastic Surgeons in 2015 approximately 15.9 million cosmetic procedures were performed in the U.S., a two percent increase over 2014.
Globally, the manufacturing companies trying to enter the biosurgery market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
North America is the largest biosurgery market as in the region the geriatric population is increasing. Asia-Pacific is observed to witness fastest growth in the market, due to expanding geriatric population and refining healthcare infrastructure.
Key players in the biosurgery market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In April 2018, Medtronic PLC received FDA approval of Infuse Bone Graft. It is used with spine implants composed of polyetheretherketone in oblique lateral interbody fusion and anterior lumbar interbody fusion procedures.
Baxter International, Inc., Medtronic, PLC., Hemostasis, LLC, B.Braun Melsungen AG, Cohera Medical Inc., C.R. Bard, Sanofi, Johnson & Johnson, Getinge Group and Integra Lifesciences Holdings Corporation are the key players offering biosurgery.
Source: VynZ Research
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About the AuthorYash Chauhan
Joined: February 25th, 2019
Articles Posted: 106
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