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Biosurgery Market Overview
The Biosurgery Market size is estimated to reach $19.8 billion by 2026 at a CAGR of 7.1% over the forecast period of 2021-2026. Biosurgery products are used across various types of surgeries to minimize the chances of blood oozing and any infection from the surrounding owing to the open wound. Moreover, the following products can be both artificial or synthetic surgical sealants or can be naturally obtained surgical sealants obtained from plant cells and animal cells. Primitively, biosurgery was also known as larval therapy or maggot debridement therapy. Since civilization was set up, the following therapies were used as the fly larvae tended to debride the necrotic tissue and thus help in wound healing. The following has gained traction again, even after several past fallouts due to its efficacy, safety, and simplicity. In cases where the following methods don’t work, biomaterials are bought in aid to suffice with their excellent chemical properties. The rising cases of traumatic accidents and the rising need to address open wounds using practical blood loss management tools will drive the biosurgery industry from 2021 to 2026.
Biosurgery Market Report Coverage
The report: “Biosurgery Market Forecast (2021-2026)”, by Industry ARC covers an in-depth analysis of the following segments of the Biosurgery Market.
By Product – Bone Graft Substitutes, Soft tissue attachments, Haemostatic agents, Surgical Sealants and Adhesives, and Staple line enforcement agents.
By Application- Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Reconstructive Surgery, Gynaecological Surgery, Urological Surgery, Thoracic Surgery, and others.
By End Users- Hospitals, Clinics, and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa)
Key Takeaways
- Geographically, North America’s biosurgery market held a dominant share in the year 2020. It is owing to a robust medical infrastructure and excellent allocation of resources for R&D. However, Asia-Pacific shows signs to provide lucrative growth opportunities owing to increased cases of traumatic injuries, along with a developing medical infrastructure.
- The need to address open wounds with robust practices will act as a driver for the biosurgery market. However, the cost to incur the biosurgery products has been steadily going up, thus hindering the market's growth.
- Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Biosurgery report.
Biosurgery Market Segment, By Product, 2020(%)
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Biosurgery Market Segment Analysis - By Product
The bio-surgery market based on the product can be further segmented into Bone Graft Substitutes, Soft tissue attachments, Haemostatic agents, Surgical Sealants and Adhesives, and Staple line enforcement agents. The surgical sealants segment held the largest market share in the year 2020. It is owing to its wide use across various surgeries. In addition, biomaterials such as collagen-based adhesives and fibrin are greatly accepted by the body’s immune system. Moreover, the synthetic and artificial sealants have high adhesive strength, which might be needed in “awkward place” injury cases. However, Staple line re-enforcements agents are estimated to be the fastest-growing, with a CAGR of 7.7% over the forecast period of 2021-2026. It is owing to new product inventions which are seen in this category. For example, a new buttress material staple line reinforcement had shown 180% stronger hold up to 14 days than the primitive SLRs. Thus, the product innovations will help the market segment.
Biosurgery Market Segment Analysis - By Application
The bio-surgery market based on the application can be further segmented into Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Reconstructive Surgery, Gynecological Surgery, Urological Surgery, Thoracic Surgery, and others. General Surgery held a dominant share in the year 2020. It is owing to the vast coverage of surgeries a general surgeon can provide. For example, a general surgeon can help treat hernia, hemorrhoids, colonoscopy, breast surgery, and even assist in removing the appendix or the gall bladder. As per the statistics provided by US FDA, around 1 million people are affected by a hernia in the region. Of which 800,000 are inguinal hernias.
However, the cardiovascular surgeries segment is estimated to be the fastest-growing, with a CAGR of 7.4% over the forecast period of 2021-2026. It is owing to the rising cases of diabetes, obesity, and other induced ailments caused which require medical intervention and surgery. In addition, biomaterials are used to prevent further wound infection, as the patient suffering from such diseases has weak immunity.
Biosurgery Market Segment Analysis - By Geography
The Biosurgery market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share of 32% as compared to other regions. It is owing to a robust medical infrastructure and easy public fund disbursement policies. Furthermore, the regions such as the USA and Canada heavily promote investment in R&D-related activity to develop advanced products.
However, Asia-Pacific presents lucrative business opportunities. It is owing to the rising attention towards developing robust medical infrastructure and their ancillaries. Moreover, Asia-Pacific acts as a hub for optional surgeries due to low operation costs. For example, hernia surgery in the USA can cost close to $7750, but in India, it costs close to $1000. Moreover, cellular therapies cost on the lower side in Asia-Pacific regions as compared to others.
Biosurgery Market Drivers
The cases of traumatic injury/ accidents have aided the biosurgery market
The cases of road accidents and other forms of traumatic injuries have been steadily growing up, thus enabling the use of biosurgery products to close and treat the wounds. For example, as per the statistics shared by the US Transport Authority, in the year 2019, the cases of fatal car crashes recorded were close to 33,244. The majority of the cases needed immediate medical attention and bio-surgery products to ensure the wounds didn’t get infected via the exterior environment. Furthermore, the less developed countries belonging to the Southeast Asian regions have seen rapid growth in the cases of traumatic injuries. Moreover, India recorded 4,51,361 cases of fatal road accidents in the year 2020, which is 4% higher than the data prevalent in 2014. The majority of the cases needed immediate medical attention and wound closure to avoid further blood oozing and chances to catch any external infection.
The higher success rate of Larval therapy/biosurgery than traditional wound covering is boosting the demand of the biosurgery market
Larval therapy/ biosurgery has been used since the human civilization set afoot. Moreover, it has gained traction in the market owing to its spectacular wound healing properties. Evidence even suggests that larval therapy has been successfully used to treat pressure ulcers, diabetic ulcers, postsurgical wound infections, and even saved lives from temporal mastoiditis and perineal gangrene. Furthermore, a comparative study conducted between the use of biosurgery/ larval therapy with topical dressings revealed that the treated wound decreased by an average of 4.1 cm over 14 days of use. Moreover, the necrotic tissue was reduced by 33% in 28 days. The following efficacy of the biosurgery has thus seen a ready adoption.
Biosurgery Market Challenges
Stringent regulatory framework hinders new participation and is an active challenge for the biosurgery market growth
The biosurgery products need to be regulated by the US FDA even before the idea is in the incubation period. Moreover, the manufacturers must obtain a PMA- Pre-Market Approval from the FDA when the product should start developing. Furthermore, capital investments are significantly required to develop new products even under strict regulation by most of the stakeholders. The final product takes at least 7-8 years to be launched before the public. Additionally, after each stage of clinical trials, the data must be submitted to the regulatory body. If the deviation noticed is higher than the mentioned, the company must re-start the trials with different constituents. The following elongates the procedure and is an operational challenge.
Biosurgery Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Phytol Market. The top 10 Biosurgery Companies include:
- Johnson & Johnson.
- Baxter International Inc.
- Dickinson & Co.
- B. Braun Melsungen AG
- Stryker Corp.
- Pfizer Inc.
- Integra Lifesciences Holdings Corp.
- Haemostasis LLC.
- Sanofi.
- CryoLife Inc.
Recent Developments
- In May 2021, Pfizer Inc revamped its classic hemostatic product. Gelfoam is a sterile sponge that is water-insoluble, porous, and is prepared from pork skin Gelatin. It provides physical benefits, then helping in blood clotting issues.
- In February 2020, Baxter International innovated its pre-existing staple line re-enforcements. The firm received the nod from US FDA for its Peri-Strips dry with veritas Collagen Matrix. The company claims that the new product is 2x faster to prepare in its common usage of bariatric surgery.