“Biosurgery products are used to aid surgeries and repair weakened and damaged tissues and bones of a body. The biosurgery market is majorly driven by the rising number of surgeries owing to the increasing rate of obesity and other lifestyle disorders, increasing participation in sports leading to sports-related injuries, and growing aging population. However, lack of reimbursement for these products and the increasing cost of surgical procedures are expected to restrain the growth of this market during the forecast period.
The biosurgery market in this report is broadly segmented on the basis of type and application. On the basis of type, the market is segmented into sealants, hemostatic agents, adhesion barriers, soft-tissue attachments, bone-graft substitutes, and staple-line reinforcement agents. On the basis of application, the market is segmented into neurological surgeries, cardiovascular surgeries, general surgeries, orthopedic surgeries, thoracic surgeries, gynecology surgeries, urology surgeries, and reconstructive surgeries.
The global biosurgery market is expected to reach $25,635.01 million by 2020, growing at a CAGR of 8.8% during the forecast period (2015 to 2020). Rising investments in R&D leading to development of innovative products in this space is propelling the growth of this market. Biosurgery products are finding increasing applications in neurological surgeries.
Developed markets like North America and Europe will show sluggish growth, while emerging markets like Asia-Pacific and RoW (Latin America) are expected to witness strong growth during the forecast period. Growth in the Asia-Pacific and RoW markets will be majorly driven by countries such as China, Korea, Russia, and Brazil owing to the rising government investments in these countries, presence of a large patient population, and the increasing focus of leading players to capture growth opportunities in these markets.
Some of the prominent players in this market include Baxter…