Sunday, 3 April 2016
Beyond maggots and leeches: Re-evaluating current biosurgery market
Competitive patent filing prevailing among biosurgery market leaders, marks the current decade. Stakeholders need not remain apprehensive of growth.
Within a highly competitive environment for bio surgical drugs and delivery equipment, leading players jostle with their innovative patents ready to be introduced to their consumers. Increased research and development activities call for re-evaluating the market structure from stakeholders’ perspective. There was a short-lived anxiousness about share degradation owing to the popularity of non-invasive medical procedures gaining trends. Yet, biosurgery market remains shielded from any adverse effects as per current as well as future demand projections. Instead, it has registered sizeable share in global surgical market over recent past. Inspired investment, additionally adds value and technology to the scenario.
Biosurgery market components
It all started with leeches and maggots being used in natural healing of wounds. These necrophagic beings were located over old wounds to ingest on the dead tissues that had stopped healing. Once the dead tissues were ‘chewed’ off, the fresh wounds could be treated with medicines. Complications emerging during and after invasive surgical procedures in much modern times, posed major health threats. There were reported deaths to excessive hemorrhaging, and so were disabilities due to the occurrence of adhesion in tissues. Slow and steady, the post-operational procedures improved with inputs from advanced materials industry.
With proteins and biologics development it became easier to deal with healing of wounds. Major innovations would definitely take into account bone grafting tissues, hemostatic agents & sealants, and anti-adhesion films or fabrics. Post-operative surgical sealants and soft tissue management mesh complement the list. The development of these components is itself segmented into two steps. Preparing the right compound and then selecting the mode of delivery. Research and development investments by all leading giants are focused on finding the right combination of the two.
The new products in biosurgery market need to comparatively be at par with the comfort of non-invasive procedures. Innovation-led companies are solely going to survive through the tough times. Even with constituent elements being sourced from animal or human parts itself, the delivery techniques have to undergo strict trials to gain government approval. Therefore, it is highly expected that manufacturers consider all vital perspectives in context to the critical uses their products serve. These should be high in fidelity, adding to the ease along with speed of application and healing of abnormalities in intra- and post-operational events.
In midst of maximum financial drainage that goes into the R&D activities, research grants are again under question. There have been recent incidences where grants have been partially or entirely called off by industry majors, putting an end period to some promising experiments. Here, enter the industry mergers to share financial and technological resources in order to securely carry out ongoing studies. Apart from providing benign platforms for clinical researches, they help diversify product pipelines for the merging companies impelling associated market growth.
Rising frequencies of lifestyle diseases shall sustain growth projections as derived from previous decade. In a quest to provide maximum satisfaction and comfort, surgeons prefer adoption of biosurgery products, which also add to their work efficacy in complex operations. Multi-functional products shall experience high demands, while biologics products shall invade market shares for its synthetic alternatives. Economic commercialization of the products shall expand global sales and demands.
Recently, a report titled “World Biosurgery Market- Opportunities and Forecasts, 2014 – 2022”, published by Allied Market Research gauged relevant market to ante its evaluation of $6,912.2 million in 2014 to $12,758.1 million by 2022. The net estimated CAGR, therefore, being 8.1% during the forecast period. The report provides a detailed analysis of market structure, pointing out the key drivers and restraints. Thus, stakeholders gain a comprehensive understanding of profitable investments pockets prevalent in the industry.