Biosurgery refers to surgical procedures that rely on natural or synthetic biomaterials originating from living sources. Biosurgery products such as hemostat and sealants help control bleeding during surgeries and repair damaged or ruptured tissues. These products play a crucial role in reducing blood loss and speeding up recovery for patients undergoing complex surgeries.
The global Biosurgery Market is estimated to be valued at US$ 18282.35 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption rate of biosurgery products across various medical procedures has been a key trend driving the market growth. These products help control internal bleeding by initiating the body's own self-repair mechanisms during surgery and reduce postoperative complications and hospital stays. Moreover, growing preference for minimally invasive surgical procedures has further boosted the demand for biosurgery products that assist in quicker healing. Technological advancements leading to development of new generation adhesion prevention solutions, hemostats and sealants have expanded the applications of biosurgery products in recent years. This has accelerated market expansion over the forecast period.
Segment Analysis
The global biosurgery market is dominated by the tissue management sub-segment. This sub-segment deals with controlling blood loss and repairing tissues. It held around 40% market share in 2021 due to rising prevalence of cardiovascular diseases, orthopedic disorders, and injuries that require advanced surgical procedures. The demand for effective hemostats and tissue sealants is high to manage blood loss and repair tissues during surgeries.
Key Takeaways
The global Biosurgery Market Size is expected to witness high growth in the coming years.
Regional analysis: The Asia Pacific biosurgery market is projected to grow at the fastest pace during the forecast period. This is attributed to growing medical tourism industry, rising healthcare spending, increasing incidence of lifestyle diseases, expanding private healthcare sector, and improving regulatory guidelines in the region. China, India, and Japan are emerging as prominent biosurgery markets in Asia Pacific.
Key players operating in the biosurgery market are Akzo Nobel N.V., PPG Industries, Inc., Sherwin-Williams Company, and BASF SE. They are focusing on new product launches, expansions, mergers and acquisitions to strengthen their market presence. For instance, in 2021, Akzo Nobel N.V. acquired a leading protective coatings manufacturer BASF’s industrial coatings business to expand its industrial coatings portfolio.
Explore more related article on this topic: https://www.newsanalyticspro.com/biosurgery-is-driving-advancements-in-tissue-regeneration-and-reconstruction/
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