Currently, the biosurgery products market is extremely competitive in terms of pricing owing to the high competitive intensity among existing players. There is a growing need for low-priced products that are easy to handle and have a better shelf life.
The cost of surgical procedures has increased considerably over the years, this is another major factor affecting the uptake of high-priced biosurgery products during surgical procedures. Thus, reducing the cost of surgical procedures as well as #biosurgery products through R&D and innovations is a major challenge for players operating in this market.
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Driver: Increasing volume of surgeries and prevalence of severe trauma injuries
Changing lifestyles and eating habits have resulted in a significant increase in the prevalence of obesity and other lifestyle disorders. This is a major factor responsible for the growth in the number of surgeries performed every year across the globe. Biosurgery products play a critical role in controlling blood loss, healing wounds, and in closing the surgical sites during different types of surgeries. Owing to the proven benefits of biosurgery products and the growing awareness for the same, the overall uptake of different surgical sealants and hemostatic agents during surgical procedures is increasing. This is one of the key contributors to the growth of the biosurgery market.
Opportunity: Untapped emerging markets
The penetration of biosurgery products is very low in the Asia Pacific, Latin America, and the Middle East and Africa. In the coming years, countries such as China, India, and Brazil are expected to offer significant growth opportunities for players operating in the biosurgery market. This is because the markets in these countries are characterized by a large patient base for target indications (such as cardiovascular, orthopedic, general/abdominal, and gynecological disorders), rising health awareness, growing healthcare expenditure, rising medical tourism, and rapidly developing healthcare infrastructure.
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Baxter International (US), Johnson & Johnson (J&J) (US), Medtronic plc (Ireland), Sanofi (France), C.R. Bard (US), Integra LifeSciences (US), and Maquet holdings (Sweden), lead the global biosurgery market. Some of the other leading players in this market include Cohera Medical (US), Hemostasis LLC. (US), Stryker Corporation (US), B.Braun Melsungen AG (Germany), CSL Limited (Australia), Pfizer Inc. (US), and Cryolife Inc. (US).Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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