The Biosurgery Market is projected to grow at a substantial rate owing to rise in sport & spine-related injuries, per capita healthcare expenditure, rise in the number of surgeries due to increase in obese population along with lifestyle disorders and others.
Portland, OR -- (SBWIRE) -- 10/03/2017 -- Global Biosurgery Market was valued at $6,912.2 million in 2014 and is expected to garner $12,758.1 million by 2022, registering a CAGR of 8.1% during the forecast period 2014 ? 2022. Biosurgery products are used in various surgeries to minimize the intra and post-operative complications.
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The biosurgery market is projected to grow at a substantial rate owing to rise in sport & spine-related injuries, per capita healthcare expenditure, rise in the number of surgeries due to increase in obese population along with lifestyle disorders and others. Also, availability of multi-functional products would provide a lucrative market opportunity; for instance, apart from fibrins use as surgical sealants, it is also used as hemostatic agents to prevent excessive blood loss during cardiothoracic and orthopedic surgeries. However, factors that would hamper the market growth are high cost associated with surgeries, stern regulatory environment for product approval, and growing popularity of minimally invasive surgeries.
Key findings of Biosurgery Market:
-Surgical sealants are projected to be the fastest growing segment in the biosurgery market with a CAGR of 10.7% from 2015 to 2022.
-Hemostatic agents segment is expected to overtake the bone graft substitute segment, and reach $4.3 billion by 2022.
-Neuro- and spine surgery application segment is projected to dominate this market throughout the forecast period.
-Biologic biosurgical products segment would continue to lead the biosurgery market with about three fourth of the market share in 2015.
-Asia-Pacific is projected to be the fastest growing biosurgery market with a CAGR of 10.7% from 2015 to 2022.
The key companies profiled in this report are Medtronic PLC, Baxter International Inc., C. R. Bard Inc., Johnson and Johnson, Stryker Corporation, Sanofi S.A., Atrium Medical Corporation (Maquet Getinge Group), Hemostasis LLC, CryoLife Inc., and Kuros Bioscience.
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