PUBLISHER: The Business Research Company | PRODUCT CODE: 1391071
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391071
“Cardiovascular And Soft Tissue Repair Patches Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cardiovascular and soft tissue repair patches market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cardiovascular and soft tissue repair patches? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cardiovascular and soft tissue repair patches market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Cardiovascular and soft tissue repair patches are artificial tissues created in the laboratory, composed of tissues grown in vitro and polymers. These patches serve the purpose of restoring damaged body tissues, providing mechanical regeneration support for injured myocardium layers, and reinstating the functional characteristics of damaged tissues for the treatment of cardiovascular diseases.
The primary raw materials used in the production of cardiovascular and soft tissue repair patches include ePTFE (expanded Polytetrafluoroethylene), biomaterial and tissue-engineered material, and other relevant raw materials. ePTFE, a material commonly used in medical devices like catheters and cardiac sutures, is composed of tetrafluoroethylene polymer units and is known for its biocompatible properties. The resulting products include synthetic patches and biological patches, with applications ranging from cardiac repair to various heart-related conditions such as atrial septal defect, ventricular septal defect, and vascular repair. The end users of cardiovascular and soft tissue repair patches encompass hospitals, ambulatory surgical centers, and specialty clinics.
The cardiovascular and soft tissue repair patches market research report is one of a series of new reports from The Business Research Company that provides cardiovascular and soft tissue repair patches market statistics, including cardiovascular and soft tissue repair patches industry global market size, regional shares, competitors with a cardiovascular and soft tissue repair patches market share, detailed cardiovascular and soft tissue repair patches market segments, market trends and opportunities, and any further data you may need to thrive in the cardiovascular and soft tissue repair patches industry. This cardiovascular and soft tissue repair patches market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cardiovascular and soft tissue repair patches market size has grown rapidly in recent years. It will grow from $4.03 billion in 2023 to $4.51 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%.
The growth in the historic period of cardiovascular and soft tissue repair patches can be attributed to factors such as an aging population, an increase in chronic diseases, heightened awareness and early detection practices, growth in healthcare infrastructure, and a substantial demand for hernia repairs.
The cardiovascular and soft tissue repair patches market size is expected to see rapid growth in the next few years. It will grow to $6.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth in the forecast period for cardiovascular and soft tissue repair patches can be attributed to factors such as the rising popularity of minimally invasive procedures, improvements in diagnostic tools, a growing demand for personalized medicine, and increased focus on research and development. Major trends in the forecast period include ongoing technological innovations, advancements in surgical techniques, progress in regenerative medicine, the utilization of 3D printing, and the integration of data analytics and artificial intelligence (AI).
The cardiovascular and soft tissue repair patches market is poised for growth, primarily driven by the increasing demand for patches in cardiac disease. Cardiac diseases, encompassing disorders related to the heart and blood vessels, have witnessed a surge in demand for patches owing to lifestyle factors such as smoking and alcohol consumption. According to World Health Organization data from 2021, cardiovascular diseases (CVDs) stand as the leading cause of mortality globally, claiming an estimated 17.9 million lives annually. In the United States, heart disease holds the top position in causing fatalities across various demographic groups. The pressing need for cardiac patches is evident, with cardiovascular disease claiming a life in the U.S. every 34 seconds and causing 1 in 5 deaths in 2020, totaling almost 697,000 individuals. Consequently, the heightened demand for cardiac disease patches is anticipated to drive the cardiovascular and soft tissue repair patches market in the coming years.
Anticipated growth in the cardiovascular and soft tissue repair patches market is further propelled by government initiatives focused on research and development in healthcare. Government authorities are actively involved in implementing programs, policies, and projects to address healthcare challenges, achieve specific goals, and foster positive societal changes. In 2022, the UK government, through the Department of Health and Social Care, announced a substantial investment of £260 million (US $270.65 million) to boost healthcare research and manufacturing. This commitment aims to support NHS-led health research by introducing privacy-preserving platforms and clinical research services. Additionally, £60 million (US $63.60 million) has been allocated to facilitate the expansion of life sciences manufacturing in the UK. Thus, government initiatives in healthcare research and development play a pivotal role in propelling the cardiovascular and soft tissue repair patches market.
A significant trend gaining traction in the cardiovascular and soft tissue repair patches market is the integration of technological advancements. Companies operating in this sector are actively engaged in developing innovative products and technologies to meet growing market demands. In October 2022, Dozee, an India-based healthcare technology company, introduced an AI-based ECG patch designed for remote cardiac monitoring. This ECG patch, characterized by its small, flexible, and lightweight design, provides a convenient solution for physicians to remotely receive alerts and access live and continuous ECG data from patients. The incorporation of such technological advancements contributes to the overall growth and relevance of the cardiovascular and soft tissue repair patches market.
Leading companies in the cardiovascular and soft tissue repair patches market are actively engaged in developing innovative products, including single-use heart patches, to drive market revenues. The single-use heart patch is an adhesive medical device designed to be directly applied to the heart, providing mechanical support and reducing the stretching of the heart muscle. In October 2022, Mawi, a prominent US-based medical device company, introduced the Mawi Heart Patch-a single-use, two-lead cardiac monitor capable of real-time heart health tracking. This innovative patch offers flexibility in application, allowing for in-clinic or at-home use, and can be worn by patients for up to seven days. The Mawi Heart Patch represents a significant advancement in cardiac monitoring technology, with the potential to enhance patient outcomes and contribute to saving lives.
In a strategic move, Becton, Dickinson, and Company, a reputable USA-based medical technology company, acquired Tepha Inc. in July 2021 for an undisclosed amount. This acquisition aimed to broaden Becton, Dickinson, and Company's portfolio in surgical mesh and soft tissue repair products, incorporating resorbable more poly technology. By integrating Tepha Inc.'s expertise in bioabsorbable polymer technology, tissue engineering, and regenerative medicine for cardiovascular disease treatments, Becton, Dickinson, and Company sought to expand its business operations across the USA. This strategic acquisition positions the company for growth and innovation in the cardiovascular and soft tissue repair patches market.
Major companies operating in the cardiovascular and soft tissue repair patches market include B Braun, Baxter International Inc., CorMatrix Cardiovascular Inc., Cryolife Inc., Edwards Lifesciences Corporation, LeMaitre Vascular Inc., Anteris Technologies Limited, Abbott Laboratories, Terumo Medical Corporation, Integra LifeSciences Corporation, W. L. Gore & Associates Inc., Arthrex Inc., Johnson & Johnson, Stryker Corporation, LifeCell Corporation, Medtronic Inc., ACell Inc., Tissue Regenix Group Plc, Aroa Biosurgery Ltd., Zimmer Biomet, LifeNet Health Inc., Becton Dickinson and Company, Boston Scientific Corporation, Cook Medical, Endologix Inc., Getinge AB, Maquet Holding B.V. & Co. KG, Vascular Solutions Inc., AngioDynamics Inc., Merit Medical Systems Inc., Penumbra Inc., Glycar SA Pty Ltd., Biointegral Surgical Inc., Admedus Ltd., LabCor Corp., Wright Medical Technology, Smith & Nephew plc, C.R. Bard Inc., Organogenesis Inc.
North America was the largest region in the cardiovascular and soft tissue repair patches market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiovascular and soft tissue repair patches market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the cardiovascular and soft tissue repair patches market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The cardiovascular and soft tissue repair patches market consists of sales of xenogeneic patch and allogeneic patch. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.