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MARKET OUTLOOK

As per Triton’s research report, the biosurgery market in North America is predicted to display a compound annual growth rate of 5.30% in the years 2021-2028. The United States and Canada form the market in this region.

According to the Canadian Institute for Health Information, in the past few years, there has been a significant rise in knee replacement surgeries, fractures, coronary artery angioplasties, and hip replacement therapy across Canada. These statistics suggest the demand for biosurgery products is likely to gain momentum within the next few years. Additionally, heart disease is considered to be the second leading cause of death after cancer that has enhanced the requirement for surgical procedures for cardiac patients. Therefore, the rising surgical procedures will fuel the demand for Biosurgical products, driving the biosurgery market on a growth path across Canada. 

In the United States, the older population base is estimated to grow significantly by 2060, which will increase the number of surgeries. Hence, the rise in the geriatric population, coupled with new product launches, is likely to create new opportunities for the biosurgery market over the next few years. Besides, the introduction of new products will boost the studied market’s progress across the country. For instance, in January 2020, OrthoPediatrics Corp, launched a completely synthetic bone graft substitute featuring calcium phosphate cement that imitates the mineral phase of natural bone. 

COMPETITIVE OUTLOOK

The well-known companies in the biosurgery market are B Braun Melsungen AG, Stryker Corporation, Integra Lifesciences Holdings Corporation, Sanofi, Ethicon Inc (Johnson & Johnson), and Zimmer Biomet Holdings Inc.