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MARKET OUTLOOK

Triton’s report alludes that the Middle East and Africa biosurgery market is predicted to showcase revenue growth at a CAGR of 7.19% through the period 2021-2028. South Africa, Turkey, the United Arab Emirates, Saudi Arabia, and Rest of Middle East & Africa outline the market in this region.

In the region, Turkey’s medical tourism industry is witnessing a significant growth, owing to the availability of affordable surgeries compared to other countries, such as the United States. This has resulted in the rise in the number of medical tourists entering the country seeking weight loss surgeries, which are cost-effective. For instance, the cost of gastric sleeve surgery is almost 70% less than the United Kingdom. Hence, the well-developed medical infrastructure increases the demand for biosurgery products for these treatments, simultaneously boosting the biosurgery market on a positive growth trajectory. 

Furthermore, South Africa has observed a substantial surge in surgical procedures in recent years. As per the WHO, in the past, non-communicable diseases were evaluated to account for a significant amount of total death, out of which cardiovascular diseases accounted for approximately 19% of the deaths. Here, it is estimated that the growth in geriatric population will enhance the deaths relating to these diseases in the near future. Above all, there has been growth in the number of surgical procedures performed within the country, which increases the demand for biosurgery products to a large extent. Hence, such developments are likely to open new avenues for the biosurgery products over the forecast period. 

COMPETITIVE OUTLOOK

The key enterprises profiled in the biosurgery market consist of B Braun Melsungen AG, RTI Surgical, Wright Medical Group NV, Zimmer Biomet Holdings Inc, Stryker Corporation, and Sanofi.