The biosurgery market is projected to reach USD 16.0 billion by 2026 from USD 12.2 billion in 2021, at a CAGR of 5.7% during the forecast period. The market is majorly driven by the increasing volume of elective surgical procedures and growing prevalence of severe trauma injuries. Moreover, rising focus towards effective blood loss management, rising geriatric population, and strong focus on R&D leading to increasing products launches is also supporting the market growth. Growing use of combination materials for enhancing product efficacy, increasing adoption of adhesive dentistry procedures, and significant growth potential in emerging countries for minimally invasive procedures present lucrative growth opportunities for the vendors in the market. On the other hand, stringent regulatory framework, lack of available skilled personnel for the effective use of biosurgery product, and high prices of the products are expected to hamper the growth of this market during the forecast period.
The global biosurgery market is consolidated at the top, with a large number of leading market players based in developed countries. The prominent players in this market are Johnson & Johnson (US), Baxter International Inc. (US), Medtronic Plc (Ireland), Becton, Dickinson & Co. (US), B. Braun Melsungen AG (Germany), Stryker Corp. (US), Integra Lifesciences Holdings Corp. (US), CSL Ltd. (Australia), Hemostasis LLC. (US), Pfizer Inc. (US), Cyrolife Inc. (US), Zimmer Biomet (US), Kuros Biosciences AG (Switzerland), Orthofix Medical Inc. (US), Smiths & Nephew Plc. (UK). However, in the last few years, a number of smaller players have emerged and are competing with global players based on price and product innovation. Due to the intense competition in the market, major market players are increasingly focusing on expanding their geographic presence into high-growth emerging markets and strengthening their competitiveness in the market by acquiring smaller players with desired technological capabilities or geographic presence.
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Johnson & Johnson (US) held the leading position in the biosurgery market in 2020. The company offers a wide range of biosurgery products including bone graft substitutes, soft tissue attachments, hemostats, staple line reinforcement agents, and surgical sealants and adhesives. The company has a strong geographic presence established through its manufacturing and distribution facilities, across the globe. The company leverages its research capabilities and innovative product portfolio to ensure a leading position in the biosurgery market. In FY2020, company invested about USD 12.2 Billion in R&D, out of which about USD 2.1 billion were invested in Medical Devices business segment, an increase of 9.8% in comparison to FY2019.
Medtronic Plc (Ireland) held the second position in the global biosurgery market. Company has exhaustive product portfolio, specifically in bone graft substitutes and soft tissue attachment category. Additionally, the company leverages its research capabilities and innovative product portfolio to ensure a leading position in the biosurgery market. In FY2020, the company invested USD 2,331 million in R&D, up from USD 2253 million in FY2018. Medtronic focuses on organic growth strategies such as innovation, product launch and approval for its growth in the biosurgery market, as evidenced by its recent product approval and launches during FY2018 to FY2019 across orthopedic and spine surgery portfolio.
Biosurgery Market by Product Type (Sealants, Hemostats, Adhesion Barrier, Soft Tissue Attachments, Biological Meshes, DBM, Bone Graft Substitutes), Application (Orthopedic, Cardiovascular), End User (Hospitals, Clinics) - Global Forecast to 2026
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