Biosurgery is promising adjunct to the whole spectrum of topical treatment methods, in particular for debridement. The term 'biosurgery' describes the use of living maggots on wounds to remove devitalized tissue, improve wound healing, and decrease the risk of infection. Biosurgery products help facilitate hemostasis and tissue sealing in different surgical processes; they are also used in hard tissue regeneration in orthobiologics. It is widely used to prevent excessive blood loss, repair damaged tissues and bones, and provide adhesion for wound or tissue sealing.
Market Statistics:
The Global Biosurgery Market is estimated to account for US$ 14,842.9 Mn in terms of value by the end of 2022.
Drivers:
Increase in adoption or demand for novel/advanced biosurgical devices is expected to drive growth of the global biosurgery market during the forecast period. For instance, with the rise in awareness among people about the benefits of biosurgery over traditional surgical methods and increased in number of surgical procedures, demand for advanced biosurgical devices is also increasing rapidly. In February 2021, EndoClot Plus, Inc. received the U.S. Food and Drug Administration (USFDA) approval for EndoClot Polysaccharide Hemostatic System. It is an innovative product that assists Gastroenterologists to stop bleeding rapidly and reliably.
Opportunities:
Growing burden of cardiovascular disease coupled with the increasing geriatric population across the globe is expected to offer significant growth opportunities for players in the global biosurgery market. For instance, the high prevalence of cardiovascular diseases leads to an increased number of surgical procedures, and people age 65 and older are more likely than younger people to suffer from cardiovascular disease. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death worldwide, taking an estimated 17.9 million lives each year. This number is expected to increase over the forecast period.
Restraints:
Stringent regulatory framework, lack of skilled personnel (for the safe/effective use of biosurgery products), and high cost of surgery or high cost of biosurgery products are major factors expected to hamper the growth of the global biosurgery market during the forecast period. For instance, the development of new biosurgery products requires significant investments, and advanced products generally take more than 7-8 years for gaining marketing approval. Moreover, bio-surgeries incur high costs owing to the pre- and post-surgery fees.