Cardiovascular and soft tissue
patches market is expected to reach USD 5,792.7 million by
2022, according to a new study by Grand View Research, Inc.
Key factors
attributing to the market growth include increasing prevalence of heart defects
such as common atrium, atrial septal defect, ventricular septal defect, and
others. Furthermore, increasing application of these patches for pericardial,
dural and soft tissue repairs is expected to significantly boost usage rates
over the forecast period.
Heart
diseases are the leading cause of death in the U.S. closely followed by heart
stroke. An estimated 85.6 million people in the U.S. are living with
cardiovascular diseases such as high blood pressure, chest pain, heart attack,
and stroke. These statistics are highly relevant as the congenital heart
defects are identified as the leading cause of infant deaths across the globe.
If these congenital defects are not treated or detected at an early age, the
patients develop more severe complications in the later stages of life.
In the U.S.
nearly 1% or about 40,000 births per year are expected to witness some form of
congenital heart defects. Furthermore, nearly 14-15% of CHD cases are reported
due to various genetic conditions such as Williams, Noonan, Down, DiGeorge, and
Alagille syndromes. The impact of these birth diseases is felt in multiple ways
as nearly 20%–30% of people suffering with CHD also have other developmental or
cognitive complications.
Increasing
use of patches for hernia and soft tissue repairs is also a key driver for ePTFE
and bovine patches. There are different types of hernias such as incisional
hernias, femoral hernia, umbilical, paraumbilical and others. Key risk factors
for hernia are heavy weight lifting, abdominal surgery, chronic cough, ascites
(fluid in abdomen) constipation, and other conditions, which lead to increased
pressure on the intra-abdominal region.
Furthermore,
congenital diaphragmatic hernia is one of the major reasons for child
mortality. In the U.S., every 1 in 2,500 newborn children is diagnosed with CDH
and the child survival rate is nearly 50%. Furthermore, the recurrence of a
hernia is quite possible after treatment. The inguinal hernia has nearly 2%
recurrence rate and incisional hernia has nearly 10-20% recurrence rate. These
conditions are expected to significantly propel market growth in the next seven
years.
Technology
has been a key enabler for market growth and expansion. Technological
advancements have multidimensional impact on new product development, product
design, raw material sourcing, raw material fabrication, clinical evaluation,
preservation solutions, and preservation techniques. The use of calcification
mitigant reduces the buildup of calcium, immunogenic factors, phosphate, and
other agents.
ePTFE
accounted for maximum market share in 2014. The ePTFE based
patches/pledgets/meshes are widely used owing to their structural integrity,
and biocompatibility. However, the biomaterial and tissue engineering segment
is expected to witness the fastest growth over the forecast period. The use of
bovine pericardium is gaining popularity as it contains high amounts of
structural protein and it provides good elasticity.
Furthermore,
anti-calcification technology used in the bovine pericardium patches is
expected to boost usage rates in the next seven years.
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Further key findings from the study suggest:
- Asia Pacific dominated the overall market in terms of revenue share in 2014, at over 59%. Key factors attributing to its large share include large population base prone to various cardiovascular and abdominal diseases which require surgical procedures. Furthermore, constantly improving healthcare infrastructure coupled with high penetration of these patches in economies such as Japan, China, India and Australia are expected to boost market growth.
- North America is expected to be one of the fastest growing regional markets over the forecast period. Presence of developed healthcare infrastructure and high awareness levels pertaining to the availability of novel products is expected to boost usage rates of cardiovascular and soft tissue repair patches over the forecast period.
- Key players operating in the market include Cryolife, Edwards Life Sciences, Bard Peripheral Vascular Inc, Baxter, and W.L.Gore & Associates The emerging players in this market are Admedus, Neovasc, Southernlight Biomaterials and others. Technological advancements are expected to enhance the launch of new products and enhance the market competition.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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