(EMAILWIRE.COM, July 19, 2018 ) The global biosurgery market is projected to reach USD 15.58 billion by 2023 from USD 11.36 billion in 2018, at a CAGR of 6.5%. The growth of this market is driven by the growing geriatric population and corresponding chronic diseases, increasing volume of surgeries and prevalence of severe trauma injuries, and rising need for effective blood loss management in patients.

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The market is segmented based on products, applications, and regions. Based on the product type, the bone-graft substitutes segment accounted for the largest share of the market in 2017. The large share of this segment is attributed to the increasing use of bone-graft substitutes across different types of orthopedic surgeries as they reduce surgical time. The focus on new orthobiologic materials like stem cell bone grafts and bone-graft substitutes is also increasing as they have fewer limitations compared to autografts (such as the potential risk of infections and donor site morbidity).

By application, the biosurgery market is segmented into gynecological surgery, general surgery, cardiovascular surgery, orthopedic surgery, neurological surgery, reconstructive surgery, urological surgery, and thoracic surgery. The orthopedic surgery segment accounted for the largest share of the market in 2017. The large share of this segment is primarily attributed to the large number of orthopedic bone and soft tissue repair surgeries being performed globally, on an annual basis. The growing number of orthopedic surgeries is in turn expected to support the growth of dependent markets, such as the biosurgery market for orthopedic applications.

Baxter (US), Johnson & Johnson (US), and Medtronic (Ireland) dominated the global biosurgery market in 2017. Some of the other players competing in this market are Sanofi (France), C.R. Bard (US), Integra LifeSciences (US), MAQUET (Sweden), Cohera Medical (US), Hemostasis (US), Stryker (US), B.Braun (Germany), CSL (Australia), Pfizer (US), and CryoLife (US).