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MARKET OUTLOOK

Triton Market Research’s report predicts that the biosurgery market in Latin America to surge at a CAGR of 7.43% during the assessed years of 2021-2028. Brazil, Mexico, and Rest of Latin America shape the overall market in this region.

In Mexico, the annual number of hip fractures is anticipated to rise significantly by 2050. This is mainly owing to the rise in the number of aging populations, which has increased rapidly over the past few years. Moreover, the older population base is susceptible to chronic conditions, such as cardiovascular, neurovascular, orthopedic disorders, and others that require surgeries. This will further heighten the demand for biosurgery products in the near future. 

Additionally, the substantial rise in medical tourism has helped the studied market’s growth across the country. Since Mexico is among the world’s most popular medical tourism destinations, the demand for various surgical procedures have increased within the country, influencing the demand for biosurgery products. Hence, as mentioned above, these factors are supporting the progression of the Mexican biosurgery market.

In Rest of Latin America, Argentina is among the highly developed countries. The major factors contributing to the studied market’s growth is the rising number of surgical procedures, along with a well-developed cosmetic industry. Along with this, the rise in chronic diseases have enhanced the number of surgical procedures, adding to the growth of the biosurgery market in Argentina. 

COMPETITIVE OUTLOOK 

The leading companies in the biosurgery market are Smith & Nephew Plc, Ethicon Inc (Johnson & Johnson), Medtronic Plc, Integra Lifesciences Holdings Corporation, CSL Limited, and Baxter International Inc.