Cardiovascular & Soft Tissue Repair Patches Market Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Cardiovascular & Soft Tissue Repair Patches Market


The global Cardiovascular & Soft Tissue Repair Patches market size is projected to reach US$ 6.16 billion by 2026, from US$ 3.84 billion in 2020, at a CAGR of 8.2% during 2021-2026. Increasing prevalence of congenital heart diseases such as atrial septal defect and ventricular septal defect and technological advancements are the key driving factors. Technological advancements have multidimensional impact on new product development, product design, raw material fabrication, and clinical evaluation.

These patches are used in tissue repair procedures including soft tissue, dural and vascular repairs and reconstructions. Increasing prevalence of hernias such as congenital diaphragmatic hernias, inguinal hernia, and others are expected to positively impact the market growth. Repair of inguinal hernias is one of the most commonly performed general surgeries. As per the data published by the International Surgery Journal research article, in 2016, the rate of inguinal hernia repair surgeries in the U.S. was estimated at 28 per 100,000 people.

Increasing collaboration between raw material suppliers, various research organizations, and manufacturers is also expected to boost the market. Moreover, development of novel technologies using tissue engineering materials is also expected to further propel the growth. For instance, researchers from Tel Aviv University of Israel, have combined an organic, living tissue with a nanoelectric system to develop a bionic heart patch that could effectively help patients recover from heart attacks.

Moreover, government initiatives for increasing the accessibility to cardiac treatments is also expected to positively impact growth of the cardiovascular and soft tissue repair patches market. For instance, the Osaka Medical College has collaborated with Teijin Limited and Fukui Warp Knitting Co. Ltd. for the development of long lasting regenerative cardiac repair patch. This project received support from the Japanese government and is aimed at promoting collaborations among industrial and medical fields.

Market Segmentation, Outlook & Viewpoint: Global Cardiovascular & Soft Tissue Repair Patches Market

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Cardiac Repair

  
Atrial Septal Defect
  
Common Atrium
  
Defects of the Endocardial Cushion
  
Ventricular Septal Defect
  
Tetralogy of Fallot
  
Right Ventricular Outflow Tract Reconstruction
  
Suture bleeding

Vascular Repair & Reconstruction

  
Carotid endarterectomy
  
Anomalous Connection of the Pulmonary Veins
  
Transposition of the Great Vessels
  
Reconstruction of Portal and Superior Mesenteric Veins
  
Other Vascular Repair and Reconstruction

Pericardial Repair

Dural Repair

Soft Tissue repair

Defects of the Abdominal Wall

  
Defects of the Thoracic Wall
  
Gastric Binding
  
Hernias

Raw Materials Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
ePTFE
  
Biomaterial and Tissue Engineered Material
  
Others

Key Players, Recent Developments & Regional Insights: Global Cardiovascular & Soft Tissue Repair Patches Market

In 2018, soft tissue repair segment held the largest market share of 42.4% in terms of revenue, attributed to rising prevalence of various types of hernias such as inguinal hernia, umbilical hernia, ventral hernias, and others.
Cardiac repair segment is expected to be the fastest growing application area, with a CAGR of 8.8% over the forecast period. Congenital heart diseases are highly prevalent among pediatric population, which in turn is expected to drive the demand in the next seven years.
Raw Material Insights
Biomaterial, ePTFE, and tissue engineered material are the major raw material segments. ePTFE and biomaterial are the two main raw materials used to manufacture cardiovascular and soft tissue. The ePTFE segment held the majority of the market share of 62.6% in 2018. Easy availability of raw material, high tensile strength, and high durability are the key factors attributed to this growth.

However, biomaterial and tissue engineered materials are gaining popularity and the segment is expected to witness the fastest CAGR of 9.4% during the forecast period. Bovine pericardium is the most widely used raw material. It has gained more acceptances owing to its physical and chemical properties and the advantages associated with it including their acceptability in human body and risk of post-operative complications.

Bovine patches contain high amounts of structural protein, which provides good elasticity and conformity to suit the anatomical conditions. These patches can be easily tailored to suit different sizes and configurations. Bovine patches are generally treated with proprietary solutions to reduce the chances of calcification. Few of these solutions include XenoLogiX solution used by Edwards Lifesciences and EnCap AC Technology used by St. Jude Medical. These patches provide greater reliability, convenience, and enhance biocompatibility.

Regional Insights

North America held the largest revenue share in 2018. Increasing prevalence of cardiac diseases owing to sedentary lifestyle, consumption of junk food, alcohol, tobacco, and substance abuse are some of the key factors positively reinforcing the regional growth. Presence of developed healthcare infrastructure and high awareness pertaining to the availability of novel products is expected to boost usage rates of cardiovascular and soft tissue repair patches over the forecast period.

Asia Pacific is expected to emerge with the fastest CAGR over the forecast period. The market is driven by factors such as enhanced healthcare systems to diagnose and manage cardiovascular diseases, specifically in low and middle income countries. Asia Pacific is the most populated region with 60% of the worlds population and majority of it is above 60 years of age. This acts as a key factor for the rapid growth of non-communicable diseases (mainly cardiovascular diseases) in this region.

China is one of the notable markets in Asia Pacific. Rising concerns for early detection and prevention of congenital heart disease have led to an increase in various treatment options such as implantation of cardiac patch. According to the data published by the World Health Organization (WHO), annual cardiovascular events are estimated to increase by 50% between 2010 and 2030, representing a lucrative market opportunities.

Cardiovascular and Soft Tissue Repair Patches Market Share Insights

Some of the key market players are Medtronic; Bard Peripheral Vascular, Inc.; Terumo Cardiovascular: W.L. Gore & Associates; GETINGE Group; CryoLife; Edwards Life Sciences; Baxter; and Admedus. Growing number of mergers and acquisitions by some of the key players, such as Terumo Cardiovascular and Medtronic, is one of the crucial factors that indicate the existing competition in the market.

Key Insights Covered: Global Cardiovascular & Soft Tissue Repair Patches Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Cardiovascular & Soft Tissue Repair Patches industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Cardiovascular & Soft Tissue Repair Patches industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Cardiovascular & Soft Tissue Repair Patches industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cardiovascular & Soft Tissue Repair Patches industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Cardiovascular & Soft Tissue Repair Patches industry.

Research Methodology: Global Cardiovascular & Soft Tissue Repair Patches Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other