Market Research Report
Cardiovascular and Soft Tissue Repair Patches Market Size, Share & Trends Analysis Report by Application (Cardiac, Soft Tissue), By Raw Material (ePTFE, Biomaterial), And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||823408|
|Published||Content info||125 Pages
Delivery time: 2-3 business days
|Cardiovascular and Soft Tissue Repair Patches Market Size, Share & Trends Analysis Report by Application (Cardiac, Soft Tissue), By Raw Material (ePTFE, Biomaterial), And Segment Forecasts, 2019 - 2025|
|Published: April 10, 2019||Content info: 125 Pages||
The global cardiovascular and soft tissue repair patches market size is expected to reach USD 5.71 billion by 2025, at a CAGR 8.2 % over a forecast period, according to a new report by Grand View Research, Inc. Increasing application of these patches in medical procedures and sports injuries and rising prevalence of heart defects such as atrial septal defect and ventricular septal defect are some of the factors driving the demand.
Growing prevalence of Cardiovascular Diseases (CVDs) is one of the key market drivers. According to the American Heart Association, cardiovascular diseases accounted for nearly 800,000 deaths in the U.S. in 2017. Moreover, the prevalence of heart attacks is significantly high in the country. Nearly, 790,000 U.S. adults suffer from heart attack each year. Coronary heart diseases account for the majority of CVD deaths followed by heart attack and stroke. High prevalence of such diseases is anticipated to create lucrative growth opportunities for the market.
Growing prevalence of hernia is also one of the key market drivers. Key risk factors for hernia are abdominal surgery, heavy weight lifting, chronic cough, constipation, ascites (fluid in abdomen), and other conditions that increase pressure on the intra-abdominal region. Furthermore, nerve damage, loss of tissue strength, and genetic factors lead to weakening of muscles. Congenital hernia is due to residual embryological channel defect and family history. According to a survey, in 2016, around 20 million repairs of inguinal hernia were carried out each year across the globe. Thus, the demand for these patches in healing the wounds post operation is anticipated to grow significantly over the years.
Further key findings from the report suggest:
In 2018, soft tissue repair held the largest market share in terms of revenue owing to the increasing prevalence of hernia
Cardiac repair segment is expected to witness rapid growth over the forecast period owing to high prevalence of congenital heart diseases coupled with improving treatments globally
ePTFE segment accounted for the largest revenue share of raw materials in 2018 however biomaterial and tissue engineered materials segment is expected to register the fastest CAGR over the forecast period
In 2018, North America held the largest revenue share due to high prevalence of diseases and easy access of treatment alternatives
Asia Pacific is expected to emerge at the fastest CAGR over the forecast period owing to growing prevalence of congenital heart diseases and hernia
Key players operating in the cardiovascular and soft tissue repair patches market include Edwards Life Sciences; Cryolife; Baxter; Bard Peripheral Vascular Inc.; and W.L.Gore & Associates.